Global inventories of crude oil declined by 45 million barrels in August after a 34-million-barrel reduction in July, Russia’s Energy Minister Alexander Novak said in a TV interview. “Reserves accumulated in the second quarter are gradually shrinking, and we see that July and August were the first two months when …
Read More »OPEC+ Panel to Meet Amid Oil Price Decline, Worry of Virus Impact
OPEC and allies, led by Russia, are scheduled to hold an online meeting on Thursday to discuss compliance with their agreed output cuts and demand trends amid falling oil prices and a faltering economic recovery outlook. The key OPEC+ panel will be reviewing an internal document which warned that a …
Read More »Putin to Instruct Government to Appoint Gazprom as Single Gas Program Operator
Russian President Vladimir Putin announced that he would instruct the government to deliver on the idea of appointing Gazprom as the single operator of gas supply and gasification programs, he said on Wednesday at a meeting with the head of Gazprom, Alexei Miller. Miller said that the government is currently …
Read More »Germany Considers Imposing Sanctions against Nord Stream 2 in Response to Navalny’s Poisoning
German authorities are considering the suspension of the construction of Nord Stream-2 gas pipeline in response to the poisoning of Russian opposition leader Alexei Navalny. The final decision depends on Russia’s actions, said the German Foreign Minister Heiko Maas on air of the TV channel ZDF. “We will put all …
Read More »Poland Calls on Germany to Stop Construction of Nord Stream 2
On Wednesday, Polish Prime Minister Mateusz Morawiecki called on Germany to halt the construction of the Nord Stream 2 gas pipeline, as Warsaw sees it as a threat to the stability of the region. The Nord Stream 2 underwater pipeline, which is expected to deliver gas from Russia to Germany, …
Read More »Gazprom Supplies 2.3 bln Cubic Meters of Gas to China in January-August
Gazprom supplied 2.3 bln cubic meters of gas to China via the Power of Siberia gas pipeline in January-August period of 2020, Director General of Gazprom Transgaz Tomsk Vladislav Borodin told a corporate magazine. “Gazprom Transgaz Tomsk transported over 15 bln cubic meters of gas in eight months of this …
Read More »Russian Fuel Oil Is a Hit in US
Behind the facade of political rhetoric, Russia and the United States have embarked on an impressive show of synergy, with fuel oil becoming a rare demonstration of improving relations. The issue of US-Russia energy ties has been enjoying a bit of media spotlight as President Trump accused Democrats in New …
Read More »Germany Uses Novichok as Leverage with Kremlin over Gas Pipeline
Chancellor Angela Merkel’s top diplomat warned Russia that Germany’s support for the Nord Stream 2 gas pipeline was at risk if the Kremlin doesn’t assist in clarifying the poisoning of dissident Alexey Navalny. It was the first time a cabinet minister in Merkel’s government explicitly linked the fate of the …
Read More »Merkel Faces Pressure to Drop Russian Pipeline to Punish Putin
Chancellor Angela Merkel is under pressure from within her own party to drop support for a controversial gas pipeline with Russia after links point to the Kremlin in the poisoning of Russian opposition leader Alexey Navalny. Norbert Roettgen, head of the German parliament’s foreign affairs committee and a candidate to …
Read More »Oil Demand has Recovered by 90% from Pre-Pandemic Levels
Russian Energy Minister Alexander Novak on Wednesday said that Moscow would propose to OPEC+ group to react to the recovery in global oil demand, as part of their agreement to cut production in order to support prices, Reuters reported. Global oil demand has recovered by as much as 90% of …
Read More »