Kazakhstan to increase transit of Russian oil and gas
Kazakh President Kassym-Jomart Tokayev said that Kazakhstan is ready to make full use of its transport potential and is ready to further increase …
Russian Oil
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Moscow, Baku duscuss oil refining
Russian oil may be processed by Azerbaijani oil refineries. A preliminary agreement was reached during the negotiations by Russian Deputy Prime Minister Alexander Novak and the head of the Azerbaijani Ministry of Economy, Mikail Jabbarov
Russia and Pakistan to continue negotiations on oil supplies
Russian-Pakistani negotiations on oil supplies from the Russian Federation continue. Pakistan may also start purchasing Russian LNG.
No fuel shortage in Russia, Novak says
There is no fuel shortage in Russia, its production has increased
Russia cashes in on reducing oil exports
Russian oil-export revenues rose to a 10-month high in August, according to the International Energy Agency. Russia received $17.1 billion last month from overseas supplies of crude oil and petroleum products, $1.8 bln more than in …
Russia's oil export duty to rise by 25%
Russia's export duty on oil will rise by $4.5 to $21.4 per tonne beginning on September 1, 2023, according to the Russian Finance Ministry. The government plans to increase the oil export duty next month, up by a …
Russia to cut oil export in September
Russia will cut oil exports by 300,000 barrels per day in September, Russia's Deputy Prime Minister Alexander Novak said on Thursday. "Within the efforts to ensure the oil market remains balanced Russia will …
Russia begins oil exports reduction under OPEC+ ahead of schedule
Russia has started cutting oil supplies abroad in advance. Next month, it is planned to implement the all the declared agreements within the framework of OPEC+, the Ministry of Energy announced.
Russia cuts oil exports
Alexander Novak announced the reduction of Russian oil exports on a voluntary basis. According to him, it will be done to balance the oil market.
Export duty on Russian oil goes down
The Ministry of Finance of the Russian Federation announced that Russia reduced the export duty on oil to $15.6 per ton from July 1. The duty on light and dark oil products also declined.
Why won't Georgia join sanctions against Russia?
Trade turnover between Georgia and Russia exceeded $1.1 bln in the first five months of 2023, up by 38.4% year-on-year, according to data released by the National Statistics Service of Georgia. With Russia being Georgia’s …
EU bans Russian oil supply to Germany
The EU announced new anti-Russian sanctions against Russia. The next package includes a ban on the Russian pipeline oil supply to Germany and Poland, a ban on the supply of certain cars to the Russian Federation, a ban on the Russian oil tankers entering ports, as well as personal sanctions against more than 100 people.
Russian oil transit through Kazakhstan extended for 10 years
Russia and Kazakhstan have agreed to extend their agreement on transporting oil through Kazakhstan until 2033, the Russian Energy Ministry said. The volume of oil transported through the country would amount to 10 million tonnes a year, …
Russia to supply 87 mln tons of oil in 2023 to West
The West will receive 87 million tons of Russian oil this year, Russia's Deputy Prime Minister Alexander Novak said. "Only 87 million tonnes or 40% will be left of the 223 million tonnes of oil and oil …
Russia, Iran consider cooperation in petrochemistry
Iranian Deputy Oil Minister Morteza Shahmirzae addressed the Russian authorities with a proposal to jointly develop cooperation in the petrochemical sector at the Rosplast-2023 exhibition in Moscow
OPEC+ announces further voluntary production cuts
The OPEC+ energy ministers met on Sunday in Vienna to iron out next production steps, as global oil prices remain under pressure from broader macro-economic concerns. OPEC+ nations agreed the level of oil production in 2024 at 40.46 …
Ingushetia to develop oil industry
New oil wells will be drilled in Ingushetia. A drilling rig has already been purchased.
Russia's Jan-Apr budget deficit hits 3.4 trln rubles
Russia's federal budget recorded a 3.4 trillion rouble ($43.8 billion) deficit in the first four months of the year, the Russian finance ministry said. Oil and gas revenues of the Russian budget plummeted by 46% year-on-year in …
Russia cuts oil production at Europe's expense
Russia currently reduces crude output by 500,000 barrels per day from the level of February 2023, Deputy Prime Minister Alexander Novak said, adding that monitoring will be conducted using independent sources. "The …
Oil storage tank catches fire near Russia's Taman
An oil storage tank caught fire in the settlement of Volna in southern Russia’s Krasnodar Region on Wednesday, Governor Veniamin Kondratyev wrote on his Telegram channel. "An oil storage tank has caught …
