Tag Archives: Russia

OPEC countries reached a landmark deal to diminish oil output starting from May 1, 2020. On April 12, members of OPEC and their allies, including Russia, announced that they had agreed to cut production by 9.7 million barrels a day in May and June 2020. After that, the group will …

Russia’s oil output deal with leading global producers will have an impact on global markets once it begins to be implemented, Dmitry Peskov, the Kremlin’s spokesman, told reporters on a conference call. Russia and other oil producers, known collectively as OPEC+, agreed over the weekend to cut their combined oil …

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) is engaged in an “active deliberation” of the Russian oil company Rosneft’s decision to sell its assets in Venezuela, OFAC Director Andrea Gacki said on Friday. “These reports on Rosneft’s acquisition or deal with PDVSA as well as …

Both countries are also committed, if necessary, to take further measures to stabilise the market, which has been extremely volatile recently, together with the alliance and other states. Russia and Saudi Arabia are firmly committed to the implementation of the new OPEC+ oil output cut deal, the Russian Energy Ministry …

The physical oil market, where millions of barrels of real cargoes are traded each day, needed OPEC+’s historic cuts to global crude production months ago. On Sunday, producer nations pledged to limit output by an unprecedented 10% of global supply. While there’s skepticism the cuts will prove deep enough — …

Russia’s Gazprom is working to boost the capacity of its landmark gas pipeline to China — the Power of Siberia — as it looks to ramp up flows via the line. The pipeline, whose design capacity is 38 Bcm/year, started commercial flows at a rate of some 10 million cu …

The Gazprom Management Committee has taken note of information about the status of the Company’s major investment projects. Within the Eastern Gas Program, Gazprom continues to ramp up its production and gas transmission capacities. At the Chayandinskoye field in Yakutia, the Company is setting up the facilities required to bring …

Late last week, OPEC and non-cartel oil producers reached a new major agreement stipulating a collective reduction in oil output by around 10 million barrels per day effective 1 May. Russian Direct Investment Fund (RDIF) CEO Kirill Dmitriev told the broadcaster CNBC on Monday that the total oil production decrease …

Vladimir Putin’s deal with OPEC to cut oil output and boost prices three years ago was a triumph for the Russian leader, bolstering his clout on the global stage. But now he’s had to make stinging concessions after US President Donald Trump stepped in to end a price war. Amid …

Gazprom is ramping up production and pipeline transmission from its Eastern Gas program. Commercial A+B+C1+C2 gas reserves within Gazprom’s licensed areas in Eastern Siberia and the Far East exceed 5 trillion cu m (tcm). Gazprom is ramping up production and pipeline transmission from its Eastern Gas program. Commercial A+B+C1+C2 gas …