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It’s not typical of Mukesh Ambani, Asia’s richest tycoon, to announce a deal before signing a document. But that’s exactly what he did last year when he told a packed hall of shareholders that Saudi Aramco, the world’s biggest oil producer, was set to buy a 20% ...

Moscow. Rosneft completed dividend payments for 2019 approved by the Annual General Shareholder Meeting (AGSM) of Rosneft Oil Company on June 2, 2020. Total dividend payment amounted to 191, 466. 31 million rubles. The dividends were paid to holders of 99. 98 % of Rosneft shares. At ...

Moscow. The US sanctions Secretary of State Michael Pompeo warned about on Wednesday, are unlikely to seriously affect the TurkStream pipeline, Dmitry Marinchenko, head of the group for natural resources and commodities at Fitch, told TASS. At the same time, these sanctions may create ...

Melbourne. Oil prices were unchanged on Friday, with trading marked by growing uncertainty about global recovery in fuel demand as new COVID-19 cases surge in several countries just as major producers get set to loosen production curbs. U. S. West Texas Intermediate (WTI) crude CLc1 futures ...

Moscow. OPEC and its allies will restore some oil supplies next month, but the impact will be “barely felt” as demand recovers from the coronavirus crisis, said Saudi Arabia’s Energy Minister. After almost three months of historic output curbs to offset the worst effects ...

Moscow. The United States are using political pressure for unfair competition purposes, extending sanctions to the Nord Stream 2 and the TurkStream gas pipelines, official spokeswoman of the Russian Foreign Ministry Maria Zakharova told TASS. "This is the use of political pressure for ...

Moscow. Gazprom stock plunged on Wednesday after the Russian energy giant reported its first quarterly loss in nearly five years as the coronavirus outbreak crippled gas demand and led to the devaluation of the ruble. The supplier reported a net loss of 116 billion rubles (nearly $1. 64 ...

Baku. The State Oil Company of Azerbaijan (SOCAR) plans to send another batch of Azerbaijani oil to Belarus in late July, Deputy Head of Public Relations and Events Department at SOCAR Ibrahim Ahmadov told Trend. “The volume of this batch will reach about 650, 000 tons of oil, ” ...

California. California Resources Corp. filed for bankruptcy, kicking off what could turn into the next wave of collapses among oil drillers and the businesses that depend on them. The company joins more than 200 oil explorers that have filed for court protection since 2015, and more may be ...

Tokyo. Oil prices slid on Thursday after OPEC and allies such as Russia agreed to ease record supply curbs from August, though the drop was cushioned by hopes for a swift U. S. demand pick-up after a bigger-than-expected drawdown from the country’s crude stocks. Brent crude LCOc1 fell ...

Moscow. Nornickel (a metals giant Norilsk Nickel) will make a modern system to monitor conditions of the permafrost, the company’s Vice President on Ecology and Environment Andrei Bugrov said on Tuesday. Over 21, 000 cubic meters of petroleum products spilled at the Thermal Power Plant ...

Vena. OPEC expects demand for its crude oil to rebound sharply next year, surpassing levels seen before the coronavirus crisis, as rival producers struggle to revive output. The Organization of Petroleum Exporting Countries forecasts the need for its crude will surge by 25% in 2021 to ...

Moscow. The United States has been raising its imports of fuel oil from Russia over the past year and a half after the US imposed sanctions on Venezuela’s exports, Reuters reported on Monday, quoting data from Refinitiv Eikon. Venezuela’s heavy crude oil is suitable to process ...

Moscow. The Board of Directors of PJSC LUKOIL held a meeting in Moscow today. The following quantitative and personal composition of the Management Committee was approved: Vagit Alekperov President Vyacheslav Verkhov ...

Minsk. An agreement on conditions of Russian oil supplies to Belarus was signed in Moscow on Tuesday after negotiations between prime ministers of the two countries, Prime Minister of Belarus Roman Golovchenko told reporters. "Three international documents were signed today. These are ...

Seoul. Oil prices rose on Wednesday after a sharp drop in U. S. crude inventories, with the market waiting for more direction from a meeting later in the day on the future level of production by OPEC and its allies. Brent crude LCOc1 futures were up 10 cents, or 0. 2%, at $43 a barrel as ...

After British and US troops invaded Iraq in 2003 and ousted Saddam Hussein, a new pro-Western government took over and began handing out lucrative contracts in the oil industry. But did some foreign companies overstep the mark and offer outright bribes to win contracts? Two men have been ...

Vena. Oil retreated before an OPEC+ committee meeting this week that may confirm the group’s intention to taper production cuts even as the coronavirus surges in many countries including the U. S. Expectations are that the cartel will begin unwinding historic supply curbs as planned in ...