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Tag Archives: Ukraine crisis

Russia silent on when Iran oil-for-goods deal starts

GELENDZHIK, Russia – Russian officials said on Monday it was too soon to say when an oil-for-goods deal with Iran would start, contradicting a report that Moscow had already begun delivering grain under such an arrangement. The deal could help Moscow, which faces Western sanctions over the Ukraine crisis, strengthen its foothold in Iran. But an agreement between Tehran and ...

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Sanction-hit Russian economy shrinks in first quarter

MOSCOW – The Russian economy contracted by 1.9 percent in the first quarter year-on-year, the statistics service said on Friday, hit by sanctions and falling energy prices. The reading was broadly in line with estimates given by Prime Minister Dmitry Medvedev and officials from the Economy Ministry over the past month, although some analysts said the figure was better than ...

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Russia’s Rosneft discloses Sechin’s basic salary for first time

MOSCOW – The head of Russia’s Rosneft earns at least 15-20 million roubles ($295,000-$390,000) a month, the oil company said on Tuesday, disclosing Igor Sechin’s basic salary after President Vladimir Putin encouraged greater wage transparency. In a document on its website, Rosneft said its top executives receive additional payments besides the basic salary, including for working on the management board ...

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Oil industry swashbucklers hit by war, disease and shale boom


CALGARY, Alberta, Nov 24 (Reuters) – The world has become a more difficult place for the small, intrepid Canadian oil explorers that roam the globe hunting for the next big petroleum discovery. Like the big-game hunters that once ranged Africa, these small-cap explorers and producers (E&Ps) call their quest for billion barrel-plus oil deposits “elephant-hunting,” and for many the thrill ...

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Russia’s Lukoil launches Siberian oilfield as sanctions bite

* Lukoil said difficulties raising financing * Lukoil sanctioned last month (Adds details, background) IMILORSKOYE FIELD, Russia, Oct 8 (Reuters) – Russia’s No.2 oil producer Lukoil launched an oilfield in western Siberia ahead of schedule on Wednesday, a major step in its drive to prop up falling production and to weather U.S. sanctions over Ukraine. The United States imposed sanctions ...

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