Economy: page 59

London. Oil dipped below $56 a barrel on Monday as a rise in U. S. drilling and higher OPEC output put the brakes on a rally that saw prices score their biggest third-quarter gain in 13 years. U. S. energy companies added oil rigs for the first week in seven and Iraq announced its exports rose ...

Moscow. Russia’s Economic Development Ministry expects gas production to rise to 673. 4 bln cubic meters in 2017 from 640. 7 bln cubic meters in 2016. It's according to documents prepared by the Economic Development Ministry to the draft budget package. Gas production will rise to ...

Moscow. The State Duma received the draft budget for 2018 and the planned period of 2019-2020. Speaker of the lower house of the Russian parliament Vyacheslav Volodin said. "We have received today the draft budget from the Russian government and start its review, " the speaker ...

Baku. A working group has been created for the Vertical Gas Corridor project during the high-level group meeting of the Central and South-Eastern European Gas Connectivity (CESEC) in Bucharest, Romania. Said the message on the European Commission’s website. “The meeting also saw ...

Stavropol. The OPEC+ oil production limiting deal made possible to stabilize the market but it is reasonable to review its extension closer to March 2018, Russian Minister of Economic Development Maxim Oreshkin told reporters on Thursday. "This deal stabilized the oil market, which is ...

Moscow. Keeping oilfield servicing Eurasia Drilling Company (EDC) under Russian jurisdiction or in hands of a state friendlier to Moscow that the U. S. , would be reasonable. Igor Artemyev, head of the Federal Antimonopoly Service, said. In July, EDC agreed to sell 51% to U. S. oilfield ...

Kiev. The Kiev Economic Court has upheld charging Gaztransit U. S. $3. 1 million which it would have otherwise paid in dividends to parent company Gazprom as a penalty for Gazprom’s monopolistic position in the country, Justice Minister Pavel Petrenko said in a Facebook post on Wednesday. ...

Moscow. Oil prices fell on Thursday, with U. S. crude giving up some of the previous session’s gains that were driven by a surprise fall in inventories, while Brent moved further away from recent 26-month highs. U. S. West Texas Intermediate crude (WTI) CLc1 dipped 18 cents, or 0. 4 ...

Moscow. A mandate the European Commission can be provided with for talks with Russia on the Nord Stream 2 gas pipeline project may be an undesirable precedent, Russian Energy Minister Alexander Novak said in an interview with Austria’s Die Presse newspaper. This issue is still under ...

China’s independent oil refiners face an uphill struggle as excess capacity in the sector and slower demand for fuel creates a tougher trading environment, a top executive has warned. Zhang Liucheng, vice-president of Shandong Dongming, said growing rivalries among so-called “teapot ...

Moscow. Russian energy giant Gazprom plans to deliver 1. 7 million tonnes of liquefied natural gas (LNG) to Ghana annually. Gazprom deputy board chairman Alexander Medvedev said. "One of the most outstanding example of entering new markets this year was the signing of a contract with ...

Jakarta. Brent oil prices rose on Wednesday, hovering around a 26-month high hit in the previous session, after U. S. data showed an unexpected drop in crude stocks as refineries boosted output and amid threats from Turkey to cut crude exports from Iraq. Brent crude for November delivery ...

Moscow. Russia and Saudi Arabia hope to announce the setting up of a new investment platform in the energy sector, as well as investments in manufacturing projects during King Salman bin Abdulaziz Al Saud’s forthcoming visit to Russia, the Director General of the Russian Direct Investment ...

Khabarovsk. Gas giant Gazprom is considering buying Annensky 1 and Annensky 2 prospecting areas in Russia’s Far Eastern Kamchatka Peninsula to explore gas reserves. Alexander Kalinkin, deputy director of department for production of gas and gas condensate said. Gazprom will also ...

New York. Those in the oil market fearing a flood of OPEC supply next year will probably be better off preparing for a shortage, according to Citigroup Inc. Five countries in the group -- Libya, Nigeria, Venezuela, Iran and Iraq -- may already be pumping at their maximum capacity this year, ...

Moscow. Bitcoin payments will not be legalized in Russia. Deputy Finance Minister Alexey Moiseev told reporters. "No regulator doubts that payments will be banned, " Moiseev said. At the same time, Head of the State Duma for the Financial Market Committee Anatoly Aksakov told ...

Tehran. Iran plans to create a downstream petrochemical complex in the eastern part of Asaluyeh energy zone in the Persian Gulf. "Two thousand hectares of land are to be allocated to the project, which aims at developing downstream industries and creating added value and jobs, " ...

Moscow. Venezuelan President Nicolas Maduro and Oil Minister Eulogio del Pino plan to visit Moscow to participate in the 'Russian Energy Week' Energy Efficiency and Energy Development International Forum due on October 4-7, the Minister told TASS. "Sure, yes (President Maduro ...