Finland seizes $4.25 billion in Russian assets as part of the Naftogaz case
Documents from a Finnish court show that the court ordered the confiscation of assets worth $4.25 billion owned by Russia and located in Finland at the request Naftogaz. The Finnish Enforcement Authority confirmed it was executing this order. Since 2016, Naftogaz has taken legal action against Russia to…
Putin wants BRICS to play a greater role in the global energy dialogue
On Wednesday, President Vladimir Putin called for a greater role for the BRICS group on global energy markets. Russia is looking for ways to counter Western influences. The Energy Week International Forum will be held in Russia this week. It is also expected to host a meeting between the energy ministers of the BRICS countries.
Putin visits Mongolia to establish key link in gas pipeline planned for China
The Kremlin announced on Monday that Russian president Vladimir Putin was in Mongolia for a visit of state. Mongolia is on the planned route of a new gas pipeline between Russia and China. Since years, Russia has been discussing the construction of a pipeline that will transport 50 billion cubic meters (bcm), or natural gas per year, from its Yamal Region to China via Mongolia.
Brent, WTI Fall as Coronavirus Spreads
Brent fell by 10% on Monday, and U.S. crude to below $30, as emergency rate cuts by the U.S. Federal Reserve and its global counterparts failed to tame markets and China's factory output plunged at the sharpest pace in 30 years amid the spread of coronavirus.Brent crude was down $3.58, or 10.6%, to $30.27 a barrel by 1231 GMT.
Putin Relative Appointed to Management of Gazprom
Mikhail Putin, identified by the Kremlin as a distant relative of Russian President Vladimir Putin, has been appointed deputy chair of the management board of state-run gas giant Gazprom, the company said on Friday. Mikhail Putin was born in 1967 and studied medicine, according to a biography published by Gazprom.
Russian private oil companies swing behind output cuts
Russia's private oil producers are ditching their scepticism and lining up behind an extension of a global deal to cut output after previous oil price increases compensated for lost income. Oil prices have risen since November when the Organization of the Petroleum Exporting Countries (OPEC) reached its first deal to lower output since 2008…
BP Sees Potential for Gas Purchases from Rosneft
Global oil major BP may receive gas supplies of between 7 billion and 20 billion cubic metres per year under an agreement last year with Russia's largest producer Rosneft, a BP official told Reuters on Wednesday. Vladimir Drebentsov, chief economist for BP in Russia and the former Soviet Union, said these…
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.
Kremlin: Output Talks Should Start Anew
Negotiations between leading oil producers on possible production curbs, aimed at propping up weak oil prices, should broadly be restarted from scratch, a Kremlin spokesman said on Friday. Leading global oil producers, including Russia and Saudi Arabia, failed to come to an agreement on a proposed oil output freeze in Doha last month.
OPEC Oil-Cut Deal Anything but Certain
Venezuela oil minister to visit OPEC, non-OPEC countries; Iran main challenge in OPEC for any deal. OPEC is renewing efforts among members and producers from outside the group for a deal to fix an oil glut and boost prices, but it is too early to say whether the attempt will work, OPEC sources said on Wednesday.
Moscow Says Gas Talks with Ankara Slowed Due to Election in Turkey
Gas talks, including discussions about the proposed TurkStream pipeline, have slowed due to a forthcoming parliamentary election in Turkey, Kremlin spokesman Dmitry Peskov told reporters on Wednesday. He also said no deal had been reached during a visit by Turkish President Tayyip Erdogan to Moscow on Wednesday and his meeting with Russian President Vladimir Putin.
US Sanctions Put Gazprom-Shell Alliance Plans in Jeopardy
Royal Dutch Shell's plans to build a strategic alliance with Russia's Gazprom could be in jeopardy after the United States added one of Gazprom's biggest gas fields to its list of Russian sanctions on Friday. Shell and Gazprom signed an agreement in June to develop a strategic alliance in the gas sector…
U.S. Sanctions Put Gazprom-Shell Alliance Plans in Jeopardy
Royal Dutch Shell's plans to build a strategic alliance with Russia's Gazprom could be in jeopardy after the United States added one of Gazprom's biggest gas fields to its list of Russian sanctions on Friday. Shell and Gazprom signed an agreement in June to develop a strategic alliance in the gas sector…
US Adds Russian Oil Field to Sanctions List
The United States has added a Russian oil and gas field, the Yuzhno-Kirinskoye Field, to its list of energy sector sanctions prompted by Moscow's actions in Ukraine, drawing a prompt rebuke from the Kremlin on Friday. The federal government said on Thursday the field, located in the Sea of Okhotsk of the Siberian coast and owned by Russia's leading gas producer Gazprom…
Russia Examines Brussels' Seizure of State Assets
The Kremlin said on Thursday it was carefully examining a reported Belgian move to seize Russian state property in Belgium to cover a court settlement compensating shareholders in the now defunct oil company Yukos. Russia's Interfax news agency said a Belgian arbitration court had ruled in favour of a group…
Russia Denies Report of Gas Deal with Greece
Russia denied on Saturday a German media report suggesting that it could sign a gas pipeline deal with Greece as early as Tuesday which could bring up to five billion euros into Athens' depleted state coffers. German magazine Der Spiegel, citing a senior figure in Greece's ruling Syriza party, said the advance funds could "turn the page" for Athens…
Russia's Gas Talks with Turkey Underway
Russia's gas talks with Turkey are underway and the Kremlin is hoping for mutually acceptable outcome, President Vladimir Putin's spokesman said on Wednesday. On Tuesday, Putin and Turkish President Tayyip Erdogan discussed the "Turkish Stream" gas project during a telephone call as Moscow continues to push for its new undersea pipeline to Europe.
Russia to Supply Coal, Electricity to Ukraine
Russia has agreed on a new deal to supply coal and electricity to Ukraine, which is struggling with a lack of raw fuel for power plants due to a separatist conflict in the industrial east, Russian officials said on Saturday. The move comes a day after Kiev said it would suspend train and bus services to Crimea…
Russian Oil Giant Has No Sanction Worries
While most Russian oil tycoons and Kremlin energy officials are calculating billions of losses that could result from Western sanctions, one of them is counting his blessings. Vladimir Bogdanov's Surgutneftegas has no Western debts, no foreign partners on its huge Siberian fields and uses no Western drilling technology…
Russian Businessman Freed From House Arrest
Russian billionaire Vladimir Yevtushenkov was freed from house arrest on Friday, a company spokeswoman said, but the tycoon will have to stay in Russia to face money laundering charges over a deal to acquire a regional oil company. There were conflicting reports in Russian media over whether the head of…
