Oil and gas: page 13

Moscow. The average Brent oil price will drop to $35 per barrel in 2020, the international rating agency Moody's says. "Notwithstanding the recent increase in prices, we now assume that Brent will average $35/barrel (bbl) this year and $45/bbl in 2021, or $8/bbl below our ...

Moscow. LUKOIL reports on the approval of the amendments to the Group's Health, Safety and Environmental Protection in the 21st Century Policy (the Policy) aimed at further development of the Company's carbon management system. The amendments were made pursuant to the resolution of the ...

Tokyo. Oil prices fell on Wednesday after data showed a rise in crude and fuel stockpiles in the United States, reviving concerns about oversupply and falling fuel demand in the world’s largest crude consumer amid the coronavirus outbreak. Brent crude futures LCOc1 fell 59 cents, or ...

Moscow. Gerhard Schroeder was elected Chairman of the Board of Directors of Rosneft Oil Company, the composition of the Board Committees was formed and the Chairmen of the Committees were elected. The first meeting of Rosneft's Board of Directors was held on June 05, 2020 following the ...

Moscow. BP plans to cut around 15% of its workforce in response to the coronavirus crisis and as part of Chief Executive Bernard Looney’s plan to shift the oil and gas company to renewable energy, company sources told Reuters on Monday, reports Reuters. Looney told employees in a ...

Moscow. The deal with a total debt volume of EUR 11. 4 billion signed by the Gazprom Group for the financing of the Amur Gas Processing Plant (GPP) construction project received the Russian ECA-backed Deal of the Year Award in the competition for the annual TXF Perfect 10 Export Finance Deals of ...

Moscow. Extension of the current OPEC+ quotas to August will depend on the market recovery, oil reserves and compliance of all member-states with the agreement, Russian Energy Minister Alexander Novak told an OPEC+ press conference on Monday. "The key condition, apart from full ...

Melbourne. Oil prices climbed on Tuesday, paring losses from the previous session, as markets broadly rose on growing confidence in a global recovery with pandemic lockdowns easing. U. S. West Texas Intermediate (WTI) crude futures rose 1. 3%, or 50 cents, to $38. 69 a barrel at 0134 ...

Moscow. LUKOIL and Perm Region signed Supplementary Joint Actions Protocol to the Agreement on Social and Economic Cooperation for 2020. A considerable amount of funds – one hundred million rubles, donated under the document – will be used to fight the spread of COVID-19 in the ...

Baku. Azerbaijan has supported the extension of OPEC+ deal by the end of July, Trend reports citing the country’s energy ministry. The videoconference of OPEC and non-OPEC countries’ ministers decided to extend the deal to cut daily oil output by 9. 7 million barrels by another ...

Moscow. One of the main priorities of the Company Rosneft is environmental protection and development of environmental technologies. Over the past two years, Rosneft’s green investments amounted to 80 billion rubles. The funds were allocated for implementation of key projects related to ...

Moscow. Russia will produce from 510 million to 520 million tonnes of crude in 2020, Russian Energy Minister Alexander Novak told reporters after the OPEC+ Ministerial Meeting on Saturday. "We had an estimate of some 510-520 million tonnes, so within this amount, " Novak said ...

Singapore. Oil crept higher on Monday, but gave up big early gains as optimism over major crude producers’ deal to extend record output cuts gave way to disappointment that the accord didn’t extend beyond the end of July. Brent crude LCOc1 had climbed as high as $43. 41 a barrel ...

Moscow. The Management Board of PAO NOVATEK approved the extension of the share buyback program until 7 June, 2021, keeping all the terms of the program unchanged. Note On 7 June, 2012, the Company’s Board of Directors approved a one-year buyback program in respect of ordinary ...

Moscow. OPEC+ has encouraging signs of rising conformity, said Mohammad Sanusi Barkindo, OPEC Secretary General, at the 7th Technical Meeting of OPEC and non-OPEC Countries under the DoC, 4 June 2020, via videoconference, Trend reports. “Production adjustments as agreed at the 9th ...

Moscow. Gazprom and RusGazDobycha reached a final investment decision on the project for the development of the Semakovskoye gas field in the Yamal-Nenets Autonomous Area. The field, which is located in the waters of Taz Bay and partly on land in the Taz Peninsula, is classified as large: ...

Moscow. The OPEC Secretariat has scheduled a ministerial meeting of OPEC+ countries on Saturday, June 6, a source participating in the negotiations told TASS. "The meeting will be held this Saturday, " the source said. The OPEC+ disagreed about the meeting date after ...

Washington. US Senators Ted Cruz, Jeanne Shaheen and John Barrasso introduced a bill expanding sanctions against the Nord Stream 2 gas pipeline project to the Senate, according to the statement posted on Barrasso’ website. "The new legislation clarifies that US sanctions related ...