Post Tagged with: "russia"

Source: Reuters

Oil jumps 5%, breaks above $50 for the first time since February as Saudi Arabia announces voluntary cuts

CNBC


U.S. benchmark West Texas Intermediate crude futures broke above $50 on Tuesday for the first time since February, boosted by a surprise announcement by Saudi Arabia of a 1 million barrel per day production cut beginning in February and …

January 5, 2021 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Russian Nord Stream 2 pipe-laying vessel leaves German site, indicating project progress

Reuters


MOSCOW – The Russian pipe-laying vessel Fortuna has left the Nord Stream 2 gas pipeline construction site in the Baltic Sea, Refinitiv Eikon data showed on Monday, indicating that the 2.6-km stretch of the project in German waters may …

December 28, 2020 - 1:30 pm Closing Bell Story‎, Crude Oil News, Energy News, Pipeline News
Source: Reuters

Novak says Russia backs OPEC+ 500,000 bpd oil output hike from February

Reuters


MOSCOW – Russia expects to support an increase in oil production by the group, known as OPEC+, of another 500,000 barrels per day (bpd) from February at next month’s summit of the leading global oil producers, Russian Deputy Prime …

December 28, 2020 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Russia to U.S. President-elect: don’t upset the oil market

Reuters


MOSCOW – Russia hopes the incoming administration of U.S. President-elect Joe Biden will not derail producer nations’ action to boost oil markets, Russia’s Deputy Prime Minister Alexander Novak said on Monday.

Russia, other leading oil producers and the Organization …

December 21, 2020 - 9:30 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Russia restarts Nord Stream 2 pipeline construction despite U.S. sanctions

Reuters


MOSCOW – Russia has resumed construction of the politically-charged Nord Stream 2 gas pipeline to Germany, laying pipes after a one-year hiatus prompted by U.S. sanctions, the pipeline operator said on Friday.

The pipeline, which Washington says compromises European …

December 11, 2020 - 12:30 pm Closing Bell Story‎, Energy News, Natural Gas News, Pipeline News
Source: Reuters

Russian, Chinese intelligence targeting Norwegian oil secrets: report

Reuters


OSLO – Russia, China and other countries are using espionage to glean secrets of Norway’s petroleum industry and plans by its government to cut or increase production, the Norwegian counterintelligence service PST said.

In a report dated Nov. 5 …

Source: Reuters

Saudi Arabia and Russia in tight race to become China’s top oil supplier in 2020

Reuters


SINGAPORE  – Saudi Arabia and Russia are in a tight race to become China’s top oil supplier in 2020, with both countries boosting crude exports to the economic powerhouse even as the coronavirus pandemic hit global demand for oil …

Source: Reuters

Sanctions on Russia gas pipeline included in annual U.S. defense bill

Reuters


WASHINGTON – Sanctions that could hinder one of Moscow’s most important projects in Europe, the Nord Stream 2 natural gas pipeline, have been included in the annual U.S. defense policy bill, two congressional aides said on Wednesday.

The sanctions …

November 12, 2020 - 12:00 pm Closing Bell Story‎, Energy News, Pipeline News
Source: Reuters

OPEC’s Algeria backs, Russia ponders extended oil output cuts

Reuters


LONDON – OPEC member Algeria on Tuesday came out in support of deferring a planned increase in OPEC+ oil output from January, a day after Russia’s energy minister raised the possibility with the country’s oil companies.

Algeria, which holds …

Source: Reuters

Column: OPEC+ set for a three-month output rollover – John Kemp

Reuters


LONDON – Saudi Arabia and Russia will probably agree to extend their oil production cuts and postpone planned increases when they meet for talks with their OPEC+ partners at the end of November.

For tactical reasons, both countries are …

Source: Reuters

Exclusive: Russia’s tainted oil dispute drags on as buyers fight for payouts

Reuters


MOSCOW  – Four major buyers of Russian oil are contesting the amount of compensation pipeline monopoly Transneft TRNF_p.MM has offered over the supply of tainted barrels more than a year ago, three sources told Reuters, raising the prospect of …

Source: Reuters

Russia’s Novak says premature to talk about OPEC+ plans beyond 2020

Reuters


MOSCOW – Russia’s energy minister said on Tuesday it was too early to discuss the future of global oil production curbs beyond December, less than a week after saying plans to reduce the output restrictions should proceed.

OPEC and …

October 20, 2020 - 12:07 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

OPEC+ to stick with plans to ease output cuts, says Russia’s Novak

Reuters


MOSCOW – Russian Energy Minister Alexander Novak on Wednesday said that the OPEC+ group of leading oil producers will start easing output curbs as planned despite a global spike in coronavirus cases.

“Despite the start of the second wave …

Source: Reuters

Exclusive: International lenders back $9.5 billion financing for Russia’s Arctic LNG 2 – document

Reuters


LONDON – International lenders have lined up about $9.5 billion in financial support for a Russian Arctic liquefied natural gas (LNG) project, a document seen by Reuters showed, even as such projects come under greater scrutiny over climate concerns.…

September 18, 2020 - 11:30 am Closing Bell Story‎, Energy News, International, LNG
Source: Reuters

Lobbying for Russian pipeline spikes in Washington

Reuters


WASHINGTON – As U.S. lawmakers plot to stop one of Moscow’s most important projects in Europe, the Nord Stream 2 pipeline, lobbyists supporting it are busier than ever but disclosing few details of their work, according to government filings …

Source: Reuters

Column: U.S. crude stocks stabilise as Saudi export surge ends – Kemp

Reuters


LONDON – Bloated U.S. crude inventories are finally on a diet, after the surge of imports from Saudi Arabia, loaded at the height of the volume war with Russia in March and April, finished discharging in the middle of …

source: Reuters

Investors in Russian pipeline projects at risk of U.S. sanctions, Pompeo says

Reuters


WASHINGTON (Reuters) – U.S. Secretary of State Mike Pompeo on Wednesday warned investors in two Russian natural gas pipeline projects that they could face sanctions as the Trump administration seeks to curb the Kremlin’s economic leverage over Europe and …

Source: Reuters

Russia keeps U.S. fuel oil exports high as Washington seeks to replace Venezuelan barrels

Reuters


MOSCOW – Russia kept fuel oil exports to the United States close to its record-highs in the first six months of this year, as Washington looks to replace the heavy Venezuelan barrels it stopped buying a year ago, traders …

July 13, 2020 - 3:30 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Russia’s Nornickel disputes $2 billion Arctic spill damages claim

Reuters


MOSCOW – Russian mining giant Norilsk Nickel (Nornickel) is disputing more than $2 billion in damages after a fuel spill which Russia’s environmental watchdog has said threatens unprecedented damage to the Arctic.

Watchdog Rosprirodnadzor sent a request for “voluntary …

July 8, 2020 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Exclusive: Russia’s Rosneft to buy a drilling business from IDS: letter

Reuters


MOSCOW – Rosneft is set to buy a drilling business from IDS Group, a letter to IDS staff seen by Reuters showed, as the Russian oil giant continues its push into oilfield services to help reduce costs.

The letter …

Source: Forbes

How Russian and Saudi oil ties to China complicate the post-pandemic world

Forbes


Russia and Saudi Arabia both rely on oil sales to fund a majority of their budgets. In the last five plus years, China has become the biggest customer for both countries. In fact, China is the world’s largest importer

Breakeven crude oil prices are one metric of the economic constraints facing OPEC+ members

Breakeven crude oil prices are one metric of the economic constraints facing OPEC+ members

EIA


Oil & Gas 360 Publishers Note: To help understand the OPEC + members, take a look at the breakeven crude oil prices. Breakeven is is the fiscal breakeven, the minimum price that a country needs to receive per barrel

Source: Reuters

OPEC+ panel meeting next week will advise on policy, not decide: sources

Reuters


LONDON/MOSCOW – An OPEC-led panel meeting to review the oil market next week will advise the wider OPEC+ group cooperating on a record supply cut, five OPEC+ sources said, meaning further talks would be needed on whether to extend …

Source: Reuters

Russia charges Arctic city mayor with bungling fuel spill response

Reuters


MOSCOW – Russia said on Thursday it had charged the head of the remote Arctic city of Norilsk with criminal negligence over what investigators said was his bungled response to a major environmental disaster.

Around 21,000 tonnes of diesel …

Source: CNBC

Oil jumps 5% as traders await OPEC+ meeting on extending supply cuts

CNBC

Oil prices rose on Friday after OPEC decided to move up discussions on whether to extend record production cuts to Saturday, indicating that some laggard countries may have agreed to align themselves with the deal.

Source: CNBC

Brent crude 

Source: Reuters

OPEC+ to meet Saturday on extending cuts, pushing for compliance

Reuters


MOSCOW/DUBAI – OPEC and its allies led by Russia will meet on Saturday to discuss extending record oil production cuts and to push laggards such as Iraq and Nigeria to comply with existing curbs.

The producers known as OPEC+ …

Source: Reuters

Trump administration putting trust in global oil producers ahead of OPEC+ meet

Reuters


WASHINGTON – The Trump administration believes ahead of an expected OPEC+ meeting this week that major oil producers such as Saudi Arabia and Russia will honor their pledges to cut crude production and will not damage the global economy …

Source: Reuters

OPEC+ keen to keep U.S. shale in check as oil prices rally

Reuters


LONDON – When OPEC, Russia and their allies agreed in April to slash oil production, little did they expect that their initiative to prop up collapsing prices would be helped by a swift drop in U.S. output.

Now that …

Source: Reuters

OPEC, Russia discuss extending oil cuts for 1-2 months: sources

Reuters


DUBAI/MOSCOW – OPEC and Russia are moving closer to a compromise on extending current oil output cuts and are discussing a proposal to roll over supply curbs for one to two months, three OPEC+ sources told Reuters on Monday.…

U.S. senators weigh additional sanctions on Russia’s Nord Stream 2

U.S. senators weigh additional sanctions on Russia’s Nord Stream 2

Reuters


WASHINGTON/FRANKFURT/MOSCOW – Two U.S. senators are considering drafting further sanctions on Russia’s Nord Stream 2 natural gas pipeline if Moscow goes ahead and finishes laying pipes, in another blow to a project which has already faced delays.

U.S. sanctions …