Economy: page 59

Moscow. Russia has cut its oil production by 174, 000 barrels a day compared with October 2016 to 11. 42 million barrels a day, cutting output by 58% of the amount agreed with OPEC and other non-OPEC oil producing states. The International Energy Agency (IEA) said. At a meeting on November ...

Singapore. Crude oil futures slid for a second session on Thursday, moving away from a one-month high touched briefly in the last session as rising U. S. production stoked worries about global oversupply. Benchmark Brent crude futures slid 4 cents, or 0. 1 percent, to $55. 82 a barrel by ...

Moscow. Working meetings of Alexey Miller, Chairman of the Gazprom Management Committee, with Zhang Gaoli, Vice Premier of the State Council of the People’s Republic of China, and Wang Dongjin, Vice President of CNPC, took place in Moscow yesterday. This was stated Gazprom. The ...

Bagdad. LUKOIL has completed a field 3D seismic survey at West Qurna-2 field in Iraq. The survey covered an area of about 450 square kilometers. The Company has fulfilled all of its contractual obligations to the Ministry of Oil of Iraq. The high-quality seismic data obtained are required for ...

Moscow. Russia’s Energy Ministry will meet oil producers regarding Moscow’s participation in the crude production cap deal with OPEC in end-April. The Minister Alexander Novak said. "In end-April, " he said, when asked when the ministry plans to discuss the market ...

Moscow. Relieving Belorussia from the counter-deliveries of petrol to Russia won’t influence the market. The Oil and Gas Information Agency’s experts believe that the abandonment of the compulsory counter-deliveries of petroleum products from Belorussian refineries won’t affect ...

Moscow. Russia to reduce oil production by 250, 000 barrels in the deal with OPEC by mid-April, Russian Energy Minister Alexander Novak told reporters. "We will deliver, " he said, answering a question from TASS. Russia participates in the oil output reduction deal, ...

Moscow. Russia will continue participating in the OPEC deal on oil production limiting despite dissatisfaction with the current prices level. Analysts questioned said on Monday. The desire was to reach the oil price of $55-60 per barrel but the combination of factors does not provide such an ...

London. Crude oil eased from a five-week high on Tuesday as rising U. S. shale oil production offset concerns over geopolitical tensions in the Middle East and output cuts being made to support prices. The international benchmark for oil prices, Brent crude futures LCOc1, were down 4 cents, ...

Tehran. Iran will become a net exporter of petroleum by the end of the new calendar year which began on March 21. This was stated Iranian President Hassan Rouhani. Addressing a national conference on Economic Resilience and Rural Development on Saturday, Mr. Rouhani said Iran has already ...

Moscow. Russia does not discuss the possibility of leaving oil output reduction deal with Organization of the Petroleum Exporting Countries (OPEC) and did not express dissatisfaction with its results. A source in the cartel told. "There were no such talks [about withdrawing from the ...

London. Russia’s Gazprom PJSC isn’t confident in Japan’s future as a growing natural gas user, which may damp prospects of a proposed pipeline between the countries as Premier Shinzo Abe travels to Moscow later this month. “The demand situation in Japan is not clear yet ...

London. President Donald Trump is preparing to issue an executive order with the goal of giving oil companies more opportunities to drill offshore, reversing Obama-era policies that restricted the activity. The offshore drilling directive is set to be issued soon, Interior Secretary Ryan Zinke ...

Moscow. Russian gas giant Gazprom plans to announce a partnership with European companies on the Nord Stream-2 project in April. First Deputy CEO Alexander Medvedev told. He did not specify details of the outlined financing model for the project. The Nord Stream-2 project envisages ...

Moscow. Russia’s Federal Agency for Mineral Resources (Rosnedra) has cancelled the decree on holding an auction for Erginskoye oilfield in the in the Khanty-Mansi Autonomous District. According to the documents released on the official website providing information about auctions. The ...

Moscow. Privately owned companies will be allowed to develop oil and gas deposits in Russia’s national and territorial waters, if they have discovered them. The pokesperson for the Natural Resources and Environment Ministry told. It is envisaged by a draft law created by the ministry ...

London. Oil climbed to a near one-month high on Wednesday on signs of a gradual tightening in global oil inventories and on concerns about a supply outage at a field in the United Kingdom's North Sea that feeds into an international benchmark price. Prices for Brent crude futures, the ...

Moscow. Russian oil major Rosneft discovered eight hydrocarbon fields in January–March with combined reserves of more than 5 million tonnes of oil equivalent. The company said in a statement on Tuesday. The company discovered fields during geological exploration in Siberia, the Urals, ...