International

Gazprom Neft will switch from US dollars to yuan and rubles to pay for refueling aircraft flying to or from China, the company’s CEO Alexander Dyukov told reporters on the sidelines of the Eastern Economic Forum. “We are starting in September, and by the end of the year we can …

Russia’s growing ambitions in the Red Sea region could threaten freedom of navigation for shipping, potentially disrupting oil prices, a leading think-tank report claims. Policymakers are being urged to pay close attention to Moscow’s activities in the vital seaway as Russia prepares to exert greater influence through arms deals and …

The Organization of Petroleum Exporting Countries plus a group led by Russia, OPEC+1 ignored requests from United States president Joe Biden and agreed on Wednesday to continue raising oil output in measured steps as originally agreed. Last July OPEC+1 agreed to gradually increase oil output following the collapse of prices …

After an unusually quick meeting on Sept. 1, OPEC+ decided to stick with its current production deal of adding an extra 400,000 barrels to markets at least until October as it continues to see markets tightening, a recovery in demand for oil for the remainder of 2021 of over 6 …

OPEC and its allies expect global oil markets will continue to tighten this year even as they revive output, but then flip into surplus again in 2022. The data — to be presented to the group’s Joint Technical Committee on Tuesday — ought to reassure the Organization of Petroleum Exporting …

A German court in Düsseldorf has rejected an appeal by Nord Stream 2 AG to allow its pipeline to be exempt from the EU’s gas directive rules. Thus Russia will be unable to use the full transport capacities of the new gas pipeline once it is launched soon. This will …

State-controlled Rosneft, the largest oil producer in Russia, has asked Russian President Vladimir Putin to be allowed to export natural gas with giant Gazprom acting as an export agent, Russian newspaper Kommersant reports, citing a letter which Rosneft’s boss has sent to Putin. Gazprom is the sole exporter of natural …

China’s top offshore oil and gas producer, CNOOC, has launched the country’s first offshore carbon capture and storage (CCS) project in South China Sea, which is expected to store more than 1.46 million tonnes of carbon dioxide.

The increase in oil output agreed last month by OPEC+ nations could be reconsidered at its next meeting on Sept. 1, Kuwait’s oil minister said on Sunday. The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, collectively known as OPEC+, will meet on Wednesday to discuss the …

Gazprom must sell the Nord Stream 2 gas pipeline to comply with European competition standards. This view is shared by the European Commission, reports Frankfurter Allgemeine Zeitung, citing officials in Brussels. The EU Third Energy Package prohibits the same company from being both a gas supplier and the owner of …