Tag Archives: Russia

Vladimir Putin could send oil markets into a spin by pulling out of the planned extension to the current OPEC-led production cut.

OPEC. Russia and several other major producers have cut their combined output by about 1.8 million barrels per day since January.

At full capacity. the Yamal facility will be able to produce 16.5 million tonnes of liquefied natural gas a year.

Russia'.s oil minister told representatives of gas exporting nations that EU and U.S. sanctions against oil exporter'.s are ".unacceptable.".

Saudi Arabia and Russia have been the drivers of the production agreement.

An intergovernmental agreement between Russia and Turkey on cooperation in construction and operation of the Akkuyu plant was signed in 2010.

A possible six-month extension proposal from Russia is shorter than the market is largely expecting.

The meeting also focused on the Nord Stream 2 project.

Reports emerged last week that Russia is considering a delay on the decision to extend the cut.

The two companies plan to cooperate in refining. petrochemicals and crude trading.