Fire breaks out at Sevastopol oil storage facility
A fuel tank caught fire in Sevastopol on Saturday morning, the incident might have been caused by a drone attack. The fire engulfed 1,000 …
Russian Oil
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Oil and gas data publication suspended in Russia
Data on hydrocarbon production will not be made public during the next year in Russia
Novak: Russia to redirect most of oil exports from Europe to east
Russia will this year divert to Asia 140 million tonnes of oil and oil products that previously would have headed to Europe, Russian Deputy Prime Minister …
Uzbekistan to buy 300,000 tons of oil from Russia in a year
This year, 300,000 tons of oil from Russia will be delivered to Uzbekistan. The Republic is cooperating with Lukoil, Gazprom, negotiations are underway with Tatneft.
G7 to keep Russian oil price cap at $60
The Group of Seven (G7) coalition has decided to keep a $60 per barrel price cap on seaborne Russian oil, despite calls by some countries for a lower price cap, Reuters reported on Monday citing a coalition official. According …
Russia to extend oil production cuts by 500,000 barrels per day
Russian will extend its voluntary oil production reduction by 500,000 barrels per day from February’s average output until the end of 2023, Russian Deputy Prime Minister Alexander Novak said. "As responsible and preemptive …
Russia's Finance Ministry: drop in oil and gas revenues not to affect budget
The Russian budget at the end of March received additional revenues in the amount of 2.5 trillion rubles, Finance Minister Anton Siluanov said in the ‘Moscow. Kremlin. Putin’ program on the Rossiya-1 TV channel. Journalist Pavel …
Russia remains Türkiye’s top oil supplier
According to the January data, Russia is still the main exporter of oil and oil products for Türkiye. Türkiye’s second top exporter is Iraq. The main exporter of …
Russia reroutes oil exports hit by embargo
Russia has successfully redirected all its crude oil exports affected by Western sanctions, Russian Energy Minister Nikolai Shulginov said. "I can say today that we have managed to completely redirect the entire volume of exports …
First batch of Russian oil to be supplied to Pakistan in early April
Pakistan will start importing Russian oil in early April, Minister of State for Petroleum Musadik Malik said, as cited by The Express Tribune newspaper. "The first consignment of oil from Moscow would arrive in the first …
Saudi Arabia: oil price cap undermines market stability
The NOPEC bill, which was recently reintroduced in Congress by a group of legislators, and price caps on oil will only serve to increase instability and uncertainty in oil markets rather than solve any problems, …
Russian oil recovering after decline
The average price of the Urals export oil blend in February 2022 fell by 1.86 times year-on-year and amounted to $49.56 per barrel, the Russian Ministry of Finance said. "The average price of the Urals oil blend was formed as …
Switzerland joins EU price cap for Russian oil
The Swiss authorities have joined the price caps for Russian oil and petroleum products set by the European Union, the Federal Council, the Swiss government announced. "The Federal Council today aligned its sanctions regime on …
Russia triggers surge in oil prices
After Alexander Novak announced that Russia would cut oil production by 500 barrels, its price skyrocketed.
Russia’s oil and gas budget revenues down bay almost 50%
Oil and gas revenues of the Russian budget, according to preliminary data, amounted to 426 bln rubles ($5.96 bln) in January 2023 and decreased by 46% compared to January 2022, the Ministry of Finance said on Monday. "Oil and gas …
IMF: oil price to fall by 16% to $81 a barrel in 2023
The International Monetary Fund (IMF) forecasts price of a barrel of oil will go down this year by 16.2%, to $81.13, according to the IMF’s World Economic Outlook update. "In 2023, oil prices are projected to fall by about …
Kyrgyzstan boosts gas and oil imports from Russia
Russian exports of natural gas to Kyrgyzstan increased from January through November 2022, according to the National Statistical Committee of Kyrgyzstan. According to statistical data, Kyrgyzstan imported Russian natural gas for …
Media: US urges to keep Russian oil price cap at $60 per barrel
US President Joe Biden's administration considers it necessary to maintain restrictions on Russian oil prices at $60 per barrel. This was reported by Bloomberg on January 19. According to him, the USA does not want to revise …
Putin: Russia's oil production up despite sanctions
Oil production in Russia increased by 2% to 535 million tonnes despite sanctions against Moscow, Russian President Vladimir Putin said on Tuesday. "Despite sanctions pressure, oil production in Russia increased by about 2% in 2022, …
Oil output in Russia up by 2% to 535mln tonnes
Russia's oil production increased by 2% to 535 million of tones in 2022, while exports grew by 7%, Russian Deputy Prime Minister Alexander Novak said on Monday. "Oil production last year amounted to 535 million tonnes. This is …
