Extending OPEC Deal Should Curb Oil Price Volatility
Extending a deal between OPEC and non-OPEC nations on oil output cuts would hopefully curb oil price volatility in the near-term, the RIA news agency cited Russian Deputy Prime Minister Arkady Dvorkovich as saying on Wednesday. Russian Energy Minister Alexander Novak met his Saudi counterpart Khalid al-Falih earlier on Wednesday, one day before a full OPEC meeting in Vienna to discuss oil prices, the Russian energy ministry said. Reporting by Andrew Osborn; Writing by Dmitry Solovyov
Russia Considers Raising Oil Output
Russia is ready to keep its oil production stable, but may increase output if it feels that prices are unlikely to fall as a result, the Interfax news agency quoted Deputy Prime Minister Arkady Dvorkovich as saying on Tuesday. Dvorkovich said a fragile balance has been reached in the global oil market, which should not be disturbed by any "sharp moves", according to the agency. He also said that a decision…
Belarus to Russia $720 mln in Gas Debts
Belarus has agreed to pay Russian gas firm Gazprom more than $720 million in arrears for gas supplies, Russian Deputy Prime Minister Arkady Dvorkovich said on Monday. Dvorkovich added that Russia was renewing oil supplies to Belarus of 24 million tonnes a year and that Gazprom would give Belarus discounts on gas supplies in 2018 and 2019. Earlier on Monday, the Russian and Belarussian presidents said they had resolved all the disputes between them over energy. Reporting by Denis Pinchuk
Rosneft Cannot Buy Bashneft - Russian Dy PM
Gas and oil giant Rosneft cannot take part in the privatization of state company Bashneft, Deputy Prime Minister Arkady Dvorkovich said Thursday. Dvorkovich told Russian newspaper Vedomosti that Rosneft would be excluded from the deal as the Kremlin indirectly controls the firm through parent company Rosneftgaz. “It was decided not to allow companies directly or indirectly controlled by the state to participate in privatization,” Dvorkovich said.
Russia: Turkey Joint Projects Still On Agenda
Russia's joint projects with Turkey, including the TurkStream undersea natural gas pipeline from Russia to Turkey, are still on the agenda and have a future, RIA news agency quoted Russian Deputy Prime Minister Arkady Dvorkovich as saying on Monday. Reporting by Vladimir Soldatkin
Russian Government to Decide on Gazprom Dividends
Russian First Deputy Prime Minister Igor Shuvalov is expected to sign in the coming days a government decision on the size of dividends to be paid by Gazprom for 2015, Deputy Prime Minister Arkady Dvorkovich told reporters on Tuesday. State-controlled gas producer Gazprom is due to take a final decision on the size of its dividend payout on its 2015 results by May 19. (Reporting by Vladimir Soldatkin; writing by Polina Devitt)
Oil Steady, Weekly Gain Possible
Brent up around 25 pct from January intra-day low. Iran oil exports set to rise in January, February. Oil was steady around $34 per barrel on Friday as hopes of a deal by major exporters to cut production faded slightly. Crude prices were still set to end the week sharply higher as many investors think a deal to reduce the massive oversupply that has sent prices tumbling is possible. Brent futures have jumped by around a quarter since hitting an intra-day low of $27.10 a barrel on Jan. 20.
Russia Plans No Joint Action with OPEC
Russia's government is not discussing cooperation with OPEC, two senior Russian officials told Reuters, after a co-owner of the country's No. 2 oil producer Lukoil said Moscow and the exporter group should join forces to battle low oil prices. The comments from Lukoil co-owner Leonid Fedun contradicted a long-standing stance by Russian officials that if Russia bowed to any OPEC request to cut production jointly, the country would lose market share.
No Breakthrough Seen at Russia-Venezuela Oil Meeting
A meeting between Russian President Vladimir Putin and his Venezuelan counterpart Nicolas Maduro, during which they will discuss stabilising oil prices, is unlikely to yield any concrete results, a senior Russian source said on Wednesday. Putin and Maduro will attend a military parade in Beijing marking 70 years since the end of World War Two in Asia. They will hold a bilateral meeting to discuss "possible mutual steps" to stabilise global oil prices, according to the Kremlin.
Russia: Exxon-led Sakhalin Project 'one of our best'
There is no economic reason for U.S. energy major ExxonMobil to leave the Sakhalin-1 oil and gas project, Russian Energy Minister Alexander Novak told reporters on Wednesday. Kommersant daily had reported that Russian Deputy Prime Minister Arkady Dvorkovich planned to hold a meeting to discuss preliminary results of checks at offshore projects, including Exxon-led Sakhalin-1. Igor Sechin, head of Russia's Rosneft…
Russia, Reeling From Cheap Oil, Talks up OPEC Ties
Russia has been holding active, "unprecedented" consultations with the Organization of Petroleum Exporting Countries, a senior official said on Wednesday, a clear signal of Moscow's strive for higher oil prices. Russia has stepped up contacts with OPEC after oil prices plunged last year, however it has dismissed any suggestion it might cut output to prop up prices, saying it is technically impossible to idle production due to the harsh climate in Siberia, the heartland of Russian oil production.
Russian Oil Output Seen Near Record This Year
The twin traumas of an economy-crippling oil price collapse and Western sanctions hobbling energy firms will not deflect Russia from keeping oil output near a record high this year, companies, officials and analysts say. Russia will likely continue to fend off Saudi Arabia as the world's top oil producer until a predicted longer term output decline starts to take hold later this decade. A defiant government and giant energy firms see little impact for now from the headwinds and…
Oil Above $48 but Outlook Weak
Total CEO instructs company to limit U.S. shale spending; Russia may see output drop of 1 mln bpd. Brent crude oil edged above $48 a barrel on Wednesday, consolidating after a drop in the previous session, although oversupply and the prospect of inventory rises make further weakness likely. Prices fell on Tuesday after the International Monetary Fund cut its 2015 global economic forecast and OPEC member Iran hinted at further price weakness. Brent rose 47 cents to $48.46 a barrel by 1200 GMT. U.S.
Rosneft's Funding Request Considered by Russia
Sanctions-hit oil company Rosneft will be able to apply for money from a state wealth fund, Deputy Prime Minister Arkady Dvorkovich said on Tuesday, adding that the government had "on the whole" approved the company's investment programme. Rosneft's access to Western money has been restricted by the sanctions imposed in response to Moscow's role in the Ukrainian conflict. Rosneft has asked the government for $42 billion support from a fund earmarked for Russian pensions to help it weather the sanctions.
Major Agreement Signed At 21st World Petroleum Congress
At the 21st World Petroleum Congress Rosneft, Ministry of Industry and Trade of the Russian Federation, Gazprom, NOVATEK, Gazprombank, Sovkomflot, United Shipbuilding Corporation signed a Joint Venture Agreement in relation to the implementation of vessel, drilling rig and marine equipment construction and design projects on the 16th of June. The document was signed in the presence of Vice-Premier Arkady Dvorkovich.
World Petroleum Congress to be held in Moscow
Deputy Prime Minister of the Russian Federation, Arkady Dvorkovich, has confirmed that the 21st World Petroleum Congress will be held in Moscow from 15 – 19 June 2014. The congress will be the largest international event in the global oil and gas industries. Dr. Over 500 other industry leaders and decision makers. The recent geopolitical situation in Ukraine, including sanctions and other macroeconomic and political factors, could have a strong impact on the world’s oil and gas markets.
