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Oil Gains on Talk of Supply Cut

Nov 16, 2018

Oil rose nearly 1 percent on Friday on expectations that the Organization of the Petroleum Exporting Countries and its allies would agree to cut output next month, though prices were set to for a weekly drop on underlying concerns that the global market was oversupplied…

Rosneft's CEO Says VTB Did Not Finance Share Sale

Nov 14, 2018

Russian state bank VTB did not finance the recent deal by Qatar to buy a stake in Rosneft and it is verifiable by looking at who has the oil giant's shares as collateral, Rosneft CEO Igor Sechin said on Wednesday.Reuters reported last week that…

U.S. Calls on Hungary and Neighbors to Shun Russian Gas Pipelines

Nov 13, 2018

U.S. Energy Secretary Rick Perry called on Hungary and its neighbours to reject Russian gas pipelines which Washington says are being used to cement Moscow's grip on central and eastern Europe.Energy diversification would be crucial for the region…

US warns sanctions still an option against Nord Stream 2

Nov 13, 2018

The United States could yet impose new sanctions to try to block construction of the Russian Nord Stream 2 gas pipeline across the Baltic Sea to the European Union, the U.S. ambassador to the EU said on Tuesday.Asked if Donald Trump could take…

Lukoil: No Need to Cut Output in 2019

Nov 12, 2018

Russia's Lukoil sees no need to cut crude output in 2019, CEO Vagit Alekperov said on Monday, as global producers discuss the situation in oil markets.Russia is part of a group of OPEC and non-OPEC oil-producing nations that teamed up two years ago in an effort to rebalance the market…

Russian Energy Firms Discuss Cooperation Saudi Aramco Chief

Nov 09, 2018

The head of Russian oil giant Rosneft, Igor Sechin, and Saudi Aramco Chief Executive Amin Nasser held talks in Moscow on Friday on areas for cooperation, Rosneft said.Rosneft, the world's largest-listed oil producer by output, said in a brief…

Novatek Secures South-Leskinskiy License

Nov 09, 2018

Russia's largest independent natural gas producer PAO Novatek has secured a new exploration license on the Gydan peninsula.The seventh largest publicly traded company globally by natural gas production volume said in a press release that its…

Rosneft Snubs Government Oil Meeting

Nov 08, 2018

Russia's largest oil firm, Rosneft, snubbed a meeting chaired by Energy Minister Alexander Novak on Thursday aimed at consulting domestic energy companies as leading global producers signal a possible cut in crude output.A return to oil production…

Russia's Novak: Not Aware of any Eni Withdrawal from Rosneft Projects

Oct 24, 2018

Russian Energy Minister Alexander Novak said on Wednesday he was not aware of any decision by Italy's ENI to suspend its involvement in any Rosneft projects.Earlier on Wednesday, Interfax news agency reported that the two oil majors were discussing…

Russian Government May Introduce Licenses for Fuel Exports

Oct 24, 2018

The Russian government may introduce licenses for fuel exports to tackle possible shortages on the domestic market and cool down prices, a source familiar with a meeting between the government and oil producers said on Wednesday.Earlier in the day…

Oil Steady as Saudi Tensions Balance Demand Outlook

Oct 15, 2018

Oil prices steadied on Monday as tension over the disappearance of a prominent Saudi journalist stoked supply worries, balancing concerns over the long-term demand outlook.Benchmark Brent crude oil jumped by $1.49 a barrel to a high of $81.92 before giving up its gains to trade around $80…

Norway to Spend More Looking for O&G Near Russian Border

Oct 08, 2018

Norway plans to step up spending on looking for oil and gas in the northern Barents Sea close to its border with Russia, the country's 2019 budget showed on Monday.The government has proposed to allocate an extra 50 million Norwegian crowns ($6…

Oil Holds Near Four-Year Highs

Oct 04, 2018

Oil held just below four-year highs on Thursday, supported by the imminent loss of Iranian supply through U.S. sanctions, but also tempered by the prospect of a rapid production increase from Saudi Arabia and Russia.Brent crude oil futures were down 33 cents at $85…

Putin to Meet Shell CEO in Moscow: Kremlin Aide

Oct 02, 2018

Russian President Vladimir Putin will meet Royal Dutch Shell Chief Executive Ben van Beurden in Moscow this week, Kremlin aide Yuri Ushakov told reporters on Tuesday.Ushakov said Putin and the Shell boss will discuss the Sakhalin-2 liquefied natural gas (LNG) project on Russia's Pacific coast…

Sakhalin-1 Consortium to Pay $230 mln to Rosneft

Sep 28, 2018

Russia's Sakhalin-1 consortium, led by ExxonMobil, has agreeed to pay $230 million to Russian energy giant Rosneft as part of an out-of-court settlement, the managing director of consortium partner ONGC Videsh told Reuters on Friday.The deal…

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