Tag Archives: Rosneft

One of Exxon Mobil Corp.‘s largest shareholders. Legal &. General Group Plc. has divested 19 of its funds from the company and will ask its clients if it can withdraw more money. saying the oil and gas producer isn’t adequately addressing climate change.

Stockpiles are currently at the highest level since mid-2017. according to Energy Information Administration data.

Saudi Arabia and Russia. the two largest producers in the OPEC coalition. voiced concerns that falling oil demand could send prices below $40 bbl as they met in Moscow.

After a prolonged oil price plunge. pushing price levels down to around $59 Brent per barrel. signs are showing that the market believes the downward trend has overshot its target.

A year ago. in the enduring twilight of one of St. Petersburg’s famous white nights of summer. Saudi Arabia and Russia reached an agreement that set a new direction for the oil market.

Due to the production cuts. Russia’s economy is expected to grow by just 1.2 percent in 2019.

Pipeline monopoly Transneft had assured Rosneft it would be compensated for all losses from the oil contamination.

OPEC. together with its allies. has been withholding production since the start of the year to prop up the market.

Druzhba usually supplies up to 1.5mn barrels a day of Russia’s benchmark Urals blend into central Europe.

Rosneft has abandoned its plans to invest in the Eastern Petrochemical Complex (EPC) in the Far East.