Tag Archives: Alexander Novak

Russian oil production has been falling since its invasion of Ukraine. Russia’s crude producers are struggling to place all their oil on the market—especially the European one—and domestic refinery throughput is also slumping amid lower demand. Despite this, rising oil and gas prices have resulted in record-high oil and gas …

The spokesman for the Atomic Energy Organization of Iran (AEOI) says the organization is in talks with Russia over the development of Iran’s Bushehr nuclear power plant. AEOI spokesman Behrouz Kamalvandi said on Wednesday that Iran and Russia had good bilateral relations, including in the nuclear field, and were negotiating …

Russia’s crude oil production is on the rise so far in May, Deputy Prime Minister Alexander Novak told TASS news agency on Monday. Russia’s crude oil production slipped by half a million bpd in March, by a full million bpd in April, with many analysts stating concern that those barrels …

Some of Russia’s natural gas customers have agreed to pay in rubles for Russian gas, Deputy Prime Minister Alexander Novak said on Friday. Last month, Vladimir Putin said that “unfriendly” nations should pay in rubles for natural gas. Russia had set a March 31 deadline for the countries it considers …

Oil prices will jump to $300 a barrel if the West abandons Russian oil, the country’s Deputy Prime Minister and former Energy Minister Alexander Novak said on Monday, adding that “some see it possibly reaching $500 a barrel”. The warning comes as the EU plans to discuss placing an embargo …

Russia has threatened to close a major gas pipeline to Germany and warned of $300 oil prices if the West goes ahead with a ban on its energy exports. “It is absolutely clear that a rejection of Russian oil would lead to catastrophic consequences for the global market,” Russian Deputy …

The EU is to blame for its energy crisis, Russia’s Deputy Prime Minister Alexander Novak said Saturday. A global gas supply crunch has sent consumer bills soaring across Europe, fueling inflation and accusations, most recently by International Energy Agency boss Fatih Birol, that Moscow is exacerbating the problem by withholding …

The OPEC+ group will likely proceed with its oil production policy of the past few months by deciding next week to add another 400,000 barrels per day (bpd) to its collective output quota, OPEC+ and Russian sources told Reuters this week. OPEC and its Russia-led non-OPEC partners in the OPEC+ …

Russian Deputy Prime Minister Alexander Novak said oil prices are expected not to change significantly in 2022, and demand would recover to pre-COVID-19 levels in late 2022, Reuters reported. Mosco plans to produce 540-550 million tons of oil in 2022, Novak said. He added that oil market has not yet …

OPEC+ has postponed its Joint Ministerial Monitoring Committee (JMMC) meeting in order to assess the new Omicron strain of COVID-19, Russia’s Deputy Prime Minister Alexander Novak said on Monday. Originally scheduled for Nov. 30, the JMMC online meeting will now be held on Dec. 2, the same day as the …