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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 …
Russia's budget revenues from the oil and gas industry grew 28% annually in 2022, Russian Deputy Prime Minister Alexander Novak said during a government meeting shown on state television on Monday. According to Novak, that increase …
The United States and its Western allies are preparing fresh sanctions on the Russian oil sector, including a cap on refined petroleum products, the Wall Street Journal reported, citing people familiar with the plans. U.S. Treasury …
The Group of Seven (G7) coalition will seek to set two price caps on Russian refined products in February, one for products trading at a premium to crude oil and the other for those trading at a discount, a G7 official said. The …
According to the forecast of the Swiss bank UBS Group AG, this year, oil prices will go up due to the continued underinvestment of the oil industry and the significant growth of the Chinese economy. The bank's analysts expect Brent …
Russian petroleum products will no longer be considered to be of Russian origin and subject to the price cap once they are transformed in another jurisdiction, the US Treasury announced. "Once Russian petroleum products or Russian …
Russia will not supply oil at the prices set by the West, it will look for new markets and logistics even with rising costs, Russian Finance Minister Anton Siluanov said. "What does the Russian Federation say? We will not …
A backlog of tankers waiting to haul oil through Turkey’s vital shipping straits appeared to start clearing, Bloomberg reported. One shipping official with knowledge of the situation said that previously blocked tankers are now …
The Russian response to the West's imposition of a cap on oil prices will be published in the near future, Russian Presidential Press Secretary Dmitry Peskov said on Friday, Izvestia writes. "An expert discussion is …
Oil-producing countries are dissatisfied with Western countries setting a price ceiling for Russian oil, Oman's Energy Minister Salem bin Nasser al-Awfi said, Bloomberg reports. "I don’t think anyone likes it. <...> …
Moscow is considering three possible options to respond to the introduction of a price cap on Russian oil by the EU and G7, a Russian newspaper reported. The news outlet cited several unnamed sources close to the government as saying …
Russian oil has been and will be in demand, while logistics chains will change, there is no tragedy in this, Russian Deputy Prime Minister Alexander Novak said on Tuesday. "Russian oil is in demand on global markets, oil will find …
The U.S. authorities are not going to replenish their strategic oil reserve through the purchase of Russian oil in the context of limiting its price, White House press secretary Karine Jean-Pierre said. During a regular briefing, one of …
Oil tankers, including 6 Russian ones, formed a traffic jam off the Turkish coast on the first day of a Western-imposed price cap for Russian crude, the Financial Times reported. About 19 crude oil tankers are waiting to cross …
Japan is unsure whether the price cap for Russian oil will be efficient, but believes the measure will reduce Russian revenue from oil exports, Japan's Chief Cabinet Secretary Hirokazu Matsuno said a news conference on Monday. …
On Monday, the EU’s embargo on Russian oil shipped by sea comes into effect, under which Europe will officially stop importing seaborne Russian oil and will try to introduce an oil price cap at $60 per barrel for countries not party to the …
Russia will not export its oil under the price cap, even if it has to cut production, Russian Deputy Prime Minister Alexander Novak said on Sunday. "We will sell oil and oil products to those countries, which will work with us on …
A price cap for Russian oil and similar measures will harm the European economy, Hungarian Foreign Minister Peter Szijjarto said. According to him, the number of energy exporters, on the contrary, should be increased to reduce …
The G7 countries, the European Union and Australia have agreed to impose a $60 per barrel price cap for seaborne oil from Russia starting from December 5 for their territories and ships, the European Commission said in a statement and explanatory …
Today, Russia's permanent representative to international organizations in Vienna, Mikhail Ulyanov, warned that the Russian Federation would stop supplying oil to the EU countries after the introduction of a price cap of $60 per barrel. …
