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Tag Archives: Russia

Russia says current oil price in line with forecast

MOSCOW – Russia is consulting with OPEC before a meeting of the oil producers’ group in June and the current oil price is within range of Moscow’s earlier forecasts, a Russian energy ministry official said on Wednesday. The statement by Kirill Molodtsov, deputy energy minister, suggests Moscow is less worried about the oil price after it rebounded to over $65 ...

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European Union sees supplies of natural gas from Turkmenistan by 2019

ASHGABAT – The European Union, keen to lessen its dependence on Russia for energy supplies, expects to start receiving natural gas from Turkmenistan by 2019, European Commission Vice President Maros Sefcovic said in an interview. Russia currently supplies around a third of Europe’s gas needs, but Moscow’s annexation of Crimea and its involvement in the military conflict in eastern Ukraine ...

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Pakistan pins hopes on gas imports, but snags slow progress

ISLAMABAD – Pakistan plans to install new gas import terminals and pipelines to underpin an economic revival linked to $46 billion in Chinese deals, but its ambitions are being undermined by poor planning, price uncertainty and security concerns, industry experts said. The government wants to increase imports to fuel industry expansion and reduce daily blackouts. It also aims to boost ...

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Russia, Argentina sign energy framework deals in push for deeper ties

MOSCOW – Russia and Argentina signed several cooperation documents in the energy sector on Thursday, underlining Moscow’s drive to deepen ties with countries in South America since coming under Western sanctions over the Ukraine crisis. At a ceremony in the Kremlin, Russian President Vladimir Putin and Argentine President Cristina Fernandez hailed the agreements, which pave the way for closer cooperation ...

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Rosneft sets world record for longest well

Rosneft, an integrated oil company majority owned by the government of Russia, broke another world record Tuesday. Off the coast of Russia’s Sakhalin Island at the Chayvo field, the company reports that it has drilled the longest well in the world. Petro Global News reports that the O-14 production well drilled to a depth of 44,291 feet and reached horizontally ...

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Russia, reeling from cheap oil, talks up OPEC ties

MOSCOW – Russia has been holding active, “unprecedented” consultations with the Organization of Petroleum Exporting Countries, a senior official said on Wednesday, a clear signal of Moscow’s strive for higher oil prices. Russia has stepped up contacts with OPEC after oil prices plunged last year, however it has dismissed any suggestion it might cut output to prop up prices, saying ...

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Russian, Iranian companies discuss barter deal terms – minister

MOSCOW – Russian and Iranian companies are discussing terms for a barter deal which will not include oil deliveries, Russian Energy Minister Alexander Novak said on Wednesday, trying to end confusion over the status of a long-heralded agreement. Russian officials said on Monday Russia was sending grain, equipment and construction materials to Iran in an oil-for-goods exchange, the first step ...

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