Tag: Russia
Russian LNG production in Arctic to be over 70 million tonnes/year
Russian LNG exports mostly to Asia Russian LNG production from its remote Arctic regions may reach over 70 million tonnes, according to the head of gas producer Novatek. Reuters reports Leonid Mikhelson, head and co-owner of Novatek told a conference “The Gydan and Yamal peninsulas have a vast resource base that allows the production of over […]
Iran oil, energy sector expand with help from Russia
Iran oil sector recovering from international sanctions Iranian President Hassan Rouhani met with Russian Prime Minister Dmitry Medvedev on Monday in a bid to further develop a warmer relationship that has recently been strengthened by both countries’ involvement in the war in Syria. At the outset of the visit, Rouhani said “I hope that a […]
OPEC supply cut could be extended, but non-members in pact need to comply
OPEC supply cut, price increase encouraged growth in US shale production The Organization of the Petroleum Exporting Countries members taking part in the OPEC supply cut are increasingly in favor of extending the pact beyond June, but add that Russia and other non-members who took part in the agreement need to remain part of the initiative, according to […]
Proposed rewrite of auto fuel economy rules threatens new “gas tax” for drivers
“This will harm national security by spurring more oil imports, rewarding Russian oil companies and OPEC cartel” By Gregory C. Staple, CEO of the American Clean Skies Foundation The American Clean Skies Foundation responded today to pending action by the Environmental Protection Agency to re-visit the post-2020 goals for automobile tailpipe pollution and fuel economy or […]
US shale boom could harm OPEC deal, cause price war: Rosneft
US shale “has become and will remain a new global price regulator” Rosneft, Russia’s largest oil producer told Reuters on Monday that the recovery in US shale production may result in OPEC and non-OPEC members opting to not extend production cuts past June. In 2014 when oil prices crashed from above $100/barrel and dropped to below $30/barrel […]
Russia to cut 300,000 b/d by end of April: Novak
Novak says Russia has found market balance at current oil price Russian Energy Minister Alexander Novak told reporters at IHS CERAWeek that by late April, oil producers in his country will meet the 300,000 b/d cut agreed to in the OPEC supply cut deal. Novak added Russia is currently meeting 50 per cent of its supply […]
Russian oil production cuts flatline in February
Russian oil production cuts amount to 100,000 b/d, same as January Russian oil production cuts have not stalled at 100,000 b/d, a third of levels agreed to late last year by Moscow in the OPEC supply cut pact, according to Energy Ministry data. On Thursday, the Energy Ministry reported Russia’s oil production was 11.11 million b/d […]
Novak: Too early to talk extension of OPEC output cut deal
OPEC output cut amounts to about 1.8 million b/d Russian Energy Minister Alexander Novak says it is too early to say if the OPEC output cut agreement will be extended, but he adds it is a possibility during an interview with Reuters. In December, Russia joined a majority of OPEC producers and 11 other countries […]
Russian oil output cut by 124,000 b/d in February: Interfax
Russian oil output cut part of OPEC supply deal MOSCOW, Feb 28 (Reuters) – Russian oil output was cut by around 124,000 barrels per day (b/d) in February 1-27 from the October level and compared with a reduction of 117,000 b/d in January, Interfax news agency reported, citing a source familiar with the data. Russia has […]
Russia oil production cuts may be accelerated
Russia oil production cuts to be over 117,000 b/d in February By Olesya Astakhova SOCHI, Russia, Feb 27 (Reuters) – Russia oil production may be cut as part of an OPEC-led agreement designed to boost prices faster than it had previously expected, if its domestic companies are able, Energy Minister Alexander Novak said on Monday. Russia […]
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