Russia
Russia’s energy minister sees 2018 oil price in range of $45-$55/barrel

Russian Energy Minister Alexander Novak said he expected the 2018 price of Brent crude to be in the range of $45 to $55 per barrel. Speaking to reporters, he also said China had asked Russia about...

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Saudi Arabia, Russia push to extend oil output cuts until March 2018

Saudi Arabia and Russia, the world’s two top oil producers, agreed on the need to extend oil output cuts for a further nine months until March 2018 to rein in a global crude glut, pushing up...

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Russia sees possibility for economic contraction

With energy playing a dominate role in national finances, Russia’s deputy prime minister said Friday an economic contraction is possible for this year. “Speaking about most short-term...

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Russian Economy today Critically needs pushing non-oil sectors

Russia needs to explore export revenue from products outside the energy sector as the economy suffers for a long period from low oil prices, Russian Economic Development Minister Alexei Ulyakayev...

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Russian Economy today badly needs pushing non-oil sectors

Russia relies heavily on exports of oil and gas for government revenue, leaving its economy vulnerable to lower energy prices. Crude oil prices are 50% percent lower than this date in 2014 mainly...

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Egypt finalizes LNG supply deal with Gazprom

Egypt finalizes LNG supply deal with Gazprom Egypt’s Ministry of Petroleum informed that an LNG supply deal with Russia’s Gazprom has been finalized. According to a ministry statement, Egyptian...

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Russia agrees to supply Egypt with gas through SWAP system

According to the “The Seventh Day” newspaper, a governmental source announced that Russia has agreed to supply Egypt with gas by using the “SWAP” system,” where...

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ONGC-Shell deal to add fuel to India’s oil sector investments

India’s oil and gas sector is all set for a billion dollar partnership with India’s biggest energy company Oil and Natural Gas Corp (ONGC) and global major Royal Dutch Shell getting ready to...

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Russian oil producer Rosneft to double crude-oil deliveries to China

Russia’s OAO Rosneft reached a deal with the Chinese government to double its crude-oil deliveries from its current volume, boosting energy links between the two major emerging economies, Russia...

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Rosneft, ExxonMobil to invest $15 billion for LNG plant

Russia’s state oil company Rosneft and ExxonMobil are considering investing $15 billion in a liquefied natural gas plant. ExxonMobil Development President Neil Duffin told Russian Prime...

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