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Washington. The oil market has been extremely volatile since early March after OPEC+ members failed to reach an agreement on oil production cuts, and also amid the continuing fears of further COVID-19 spread. US Energy Secretary Dan Brouillette and Russian Energy Minister Alexander Novak ...

Moscow. The Russian president filed a 2019 tax return within the timeframe prescribed by law, press secretary of the head of state Dmitry Peskov told TASS on Tuesday. "Yes, in accordance with the law, " the press secretary said, answering the question whether the president ...

Tokyo. Global crude oil prices slid further on Wednesday, following their biggest-ever quarterly and monthly losses, as a bigger-than-expected rise in U. S. inventories and a widening rift within OPEC heightened oversupply fears. Oil prices are near their lowest since 2002 amid the global ...

Moscow. Gazprom Neft retained its plans for oil refining volumes in March - April 2020, despite a decreasing demand for oil products worldwide due to the situation with coronavirus. In the future, the company will make decisions on volumes depending on market changes and restrictions, Gazprom ...

Washington. The Energy Department is considering renting space in the nation’s emergency oil reserve to domestic producers awash in crude, according to three people familiar with the matter who asked for anonymity before a formal announcement. The move would help drillers running out ...

Baku. The State Oil Company of the Azerbaijan Republic SOCAR and Norwegian Equinor company signed an agreement on cooperation in the field of labor safety and environmental protection, Trend reports referring to SOCAR. SOCAR President Rovnag Abdullayev received Head of the representative ...

Moscow. US Secretary of Energy Dan Brouillette will discuss ways of solving the problem of volatility on global oil markets with Russian Energy Minister Alexander Novak, Department of Energy Spokeswoman Shaylyn Hynes told TASS. "Secretary Brouillette will discuss with his Russian ...

Seoul. Oil recovered some ground on Tuesday as U. S. President Donald Trump and Russian President Vladimir Putin agreed to discuss stabilizing energy markets, but prices remain near 18-year lows as the coronavirus shutdown destroys demand. Brent crude LCOc1 was up by 19 cents, or 0. 8%, ...

Moscow. Rosneft announces the termination of its operations in Venezuela and the disposal of its assets, related to operating in Venezuela. Today Rosneft concluded an agreement with the company 100% owned by the Government of Russian Federation, to sell all of its interest and cease ...

Washington. Last week, the US Department of Energy announced plans to purchase 77 million barrels of oil on the domestic market to shore up the country's strategic reserve amid the increasing coronavirus outbreak. US pipeline operators are asking producers to cut oil production amid the ...

Moscow. Oil slumped to a 17-year low as coronavirus lockdowns cascaded through the world’s largest economies, leaving the market overwhelmed by cratering demand and a ballooning surplus of crude. Futures in London fell as much as 7. 6% to the lowest since November 2002, while New York ...

Baku. Kazakhstan will produce 2. 02 million barrels of oil and other liquids per day in 2020, Trend reports with reference to the March Short-term Energy Outlook (STEO) of US Energy Information Administration (EIA). According to the EIA’s forecasts, this figure decreased from 2. 03 ...

Moscow. WTI oil futures price has dropped below the $20 mark during trading at London’s ICE exchange for the first time since 2002, trading reports show. At 01:35 Moscow time, the May WTI futures hit $19. 48 per barrel (-8. 5%). At 03:03 Moscow time, the WTI barrel traded at $20. 4 ...

Tehran. Iran's Energy Exchange was established to directly transfer the product to the buyers and consumers and finance the oil industry through the issuance of financial securities, Director of Iran's Energy Exchange Ali Hosseini said, Trend reports via IRNA. Referring to the ...

Moscow. Kirill Dmitriev, the head of the Russian Direct Investment Fund (RDIF), believes a new OPEC+ deal to balance oil markets might be possible if other nations joined it and that countries should cooperate to mitigate the economic fallout from coronavirus. “Joint actions by ...

Almetyevsk. TATNEFT Company has decided to start production of antiseptics physically based at the TANECO Complex to assist in the fight against coronavirus infection. The production of an antiseptic solution at TANECO is organized within a very short time. The Company has already ...

Moscow. Stabilization of the economic situation in Russia due to the spread of coronavirus and low oil prices at the peak of the crisis should be about 1 trillion rubles ($12. 7 bln) a month, Chairman of the Business Russia association and head of R-Pharm Alexey Repik told TASS. "The ...

Tokyo. Oil prices rose on Friday after world leaders promised a massive injection of funds to limit the economic fallout from the coronavirus pandemic, despite fears the outbreak will destroy demand for oil. After tumbling for the past four weeks, Brent crude was up 50 cents, or nearly 2%, ...