Tag Archives: Russia

Russia’s oil output has dipped below its OPEC+ target in February amid abnormally cold weather, meaning the country failed to take full advantage of a more generous quota. The nation pumped an average of 1.377 million tons a day of crude and condensate on average from Feb. 1 to 25, …

Russia’s largest independent natural gas producer and LNG operator Novatek has secured an LNG supply deal with China’s Shenergy Group. Novatek said on Thursday the deal is for a cumulative supply of over 3 million tons of LNG from the Arctic LNG 2 project over a 15-year term. The volumes …

Key questions for the OPEC+ meeting will be whether Saudi Arabia rolls back its voluntary cut of 1 million bbl/d and whether there is room for an additional increase in supply from the whole oil producer group. Saudi Arabia and Russia have differences over a potential deal among OPEC+ oil …

Saudi Arabia and Russia are once again heading into an OPEC+ meeting on opposite sides of a crucial debate about the oil market. Riyadh is publicly urging fellow members to be “extremely cautious,” despite prices rebounding to a one-year high. In private, the kingdom has signaled it would prefer that …

Saudi Arabia and Russia would like to continue their coordination to support oil market stability, the leaders of the two most influential members of the OPEC+ production pact said during a telephone conversation this week. Russia’s President Vladimir Putin and Saudi Arabia’s Crown Prince Mohammed bin Salman exchanged views on …

The US administration is continuing to monitor the implementation of the Nord Stream 2 gas pipeline project US Department of State Spokesperson Ned Price said at a briefing for reporters on Friday. He added that unilateral sanctions are only one of among many important tools Washington has. “We are continuing …

Russian energy giant Rosneft on Friday reported an almost 80% fall in 2020 net income as the pandemic hit demand for fuel. Rosneft, in which BP owns a 19.75% stake, said its net income fell to 147 billion roubles, or $2.2 billion.

The startup in 2020 of the 31.5 Bcm/year TurkStream pipeline triggered an unprecedented reshuffle in the way Russian gas reaches southeast Europe, and now with the start of flows via TurkStream’s onshore expansion, the picture is shifting once again. Like the Nord Stream and Nord Stream 2 pipeline projects, TurkStream …

The German government is considering the possibility of establishing a mechanism which will allow shutting down the Nord Stream-2 gas pipeline if Russia reduces gas transit through Ukraine, reported German newspaper WirtschaftsWoche citing sources. According to the newspaper, Chancellor Angela Merkel and Foreign Minister Heiko Maas are not considering the …

German Chancellor Angela Merkel on Friday stood by her backing for a German-Russian gas pipeline project despite the Navalny case and the threat of U.S. sanctions Merkel said her government’s position on Nord Stream 2 is still unaffected by tensions over Russian opposition leader Alexei Navalny who recovered in Germany …