Economy: page 59

Moscow. Russian oil major Rosneft will work to minimize the impact from the new U. S. sanctions. CEO Igor Sechin told reporters on Thursday. “Pity that Exxon was fined U. S. $2 million for communication with us. This means that sanctions are starting to work against those who ...

London. Oil prices slipped on Thursday as a rally that had pushed up prices by almost 10 percent since early last week lost momentum despite renewed signs of a gradually tightening U. S. market. Brent crude was down 45 cents at $51. 91 a barrel by 0745 GMT. U. S. light crude was 45 cents lower ...

L ondon. Venezuela's supply of heavy crude to U. S. independent refiner Phillips 66 has dropped by more than two-thirds this year in part due to quality problems, and the company has cancelled at least one cargo in recent months. According to sources from state-run oil company PDVSA. ...

Moscow. Independent gas producer Novatek plans to construct a 20 million tonne liquefied natural gas (LNG) loading terminal on the coast of Russia’s easternmost Kamchatka Region. Deputy Management Board Chairman and Commercial Director Lev Feodosyev told on Wednesday. No commissioning ...

Singapore. Oil prices fell 1 percent on Wednesday, with rising U. S. fuel inventories pulling U. S. crude back below $50 per barrel, while ongoing high OPEC supplies weighed on international prices. U. S. West Texas Intermediate (WTI) crude was at $48. 69 per barrel at 0456 GMT, down 47 ...

Baku. The new US bill on sanctions against Russia will also affect the Russian pipeline project known as the Nord Stream 2. The Senate has approved a bill toughening the US sanctions against Russia, Iran and the North Korea. The document is to be signed by US President Donald Trump. ...

Singapore. Singapore. U. S. oil opened above $50 per barrel for the first time since late May on Tuesday, supported by strong fuel demand, but ongoing high supplies from producer club OPEC kept prices from rising further. U. S. West Texas Intermediate (WTI) crude futures were at $50. 26 per ...

It’s summer now. The temperature in the Kuban reaches 40 degrees C. The beaches are so overcrowded that the sunburnt holiday makers have to sunbathe standing up like horses. The few news items dry out at the oil and gas agencies’ web sites. The stock exchange turnover has ...

Calgary. Canada's struggling oil market has found something of a lifeline as traders scramble for heavy crude due to OPEC production cuts and sinking Latin American output. Output has fallen in Organization of the Petroleum Exporting Countries and non-OPEC Latin American countries such as ...

Baku. Iranian Oil Minister Bijan Namdar Zanganeh and his Iraqi counterpart Jabar al-Luaibi have joined a new round of oil talks in Tehran to discuss further cooperation between the two countries. IRIB news agency reported. According to the report, the sides are expected to discuss the two ...

Moscow. The Energy Ministry plans to submit a bill cutting the mineral exertion tax (MET) by 50% for five large water-logged fields. Kommersant business daily reported on Monday with a reference to Deputy Energy Minister Alexei Teksler. Teksler said that the fields should have reserves ...

New York. Oil prices rose to their highest levels since May early on Monday as a dip in U. S. output tightened the market and the threat of sanctions against Venezuela kept traders on edge, Reuters reported. Brent crude futures LCOc1, the international benchmark for oil prices, were ...

Moscow. A bill on new sanctions against Russia is aimed at turning up the heat on Russia’s energy sector. Senior expert from the Institute for Energy and Finance informed a round table, elaborating on the effects of the sanctions on Thursday. "The law creates fundamentally new ...

Seol. Oil prices edged lower on Friday but were still near 8-week highs, buoyed by a decline in U. S. inventories and OPEC's ongoing efforts to curb production. Brent crude futures were down 6 cents, or 0. 1 percent, at $51. 43 per barrel at 0251 GMT. U. S. West Texas Intermediate ...

Tyumen. Tyumen region is going to attract investment from Asia, according to Leonid Ostroumov, the director of Investment Policy and State Support for Entrepreneurship Department for Tyumen region. “Currently we focus on countries like Kazakhstan, Belarus, Azerbaijan, Germany, ...

Oil held gains above $48 a barrel as government data showed U. S. crude stockpiles shrank to the lowest level since the start of the year, easing a global glut. Futures were little changed in New York after prices rose 1. 8 percent on Wednesday to an eight-week high. American inventories ...

Brussels. The European Commission (EC) is not going to fine Siemens in connection with shipment of its turbines to Crimea, a source in EC institutions told TASS on Wednesday. "We do not see grounds for penalties for the German company but expect it will draw conclusions from this ...

London. Oil's rise back above $50 a barrel helped prod stock markets higher on Wednesday and company results and economic data continued to soothe worries that the world economy may be ripe for a another slowdown. European stock markets were mainly higher, led by energy and commodity-linked ...