Tag: Russia

Oil prices drop nearly 5% on concerns over size of OPEC cut

Oil prices drop nearly 5% on concerns over size of OPEC cut

Oil prices plummeted by nearly 5% on Thursday after Saudi Arabia said OPEC and its allies were working towards reduced cuts, causing concerns that the bloc is struggling to deal with the recent supply glut ahead of its meeting. Saudi energy minister Khalid al-Falih said OPEC and allies, including Russia, […]

Russian oil dips ahead of OPEC meeting

Russian oil dips ahead of OPEC meeting

Russia’s oil production dipped last month according to new federal data which comes just days ahead of an OPEC summit that is expected to result in another production cut. Data from November shows Russian output had dropped to 11.369 million barrels per day from 11.41 million bpd in October. Prior […]

Russia accept $60 oil price

Russia accept $60 oil price

Russia has stated it is comfortable with oil prices at around the $60 mark with President Vladimir Putin thanking Saudi Arabia for its cooperation in managing the global oil market. Ahead of next week’s OPEC+ meeting, Putin said Russia was comfortable with oil prices at $60 as it is budgeted […]

Governor Rick Perry answers questions during an interview at the Governor's Mansion on Wednesday, December 17, 2014. DEBORAH CANNON / AMERICAN-STATESMAN

Rick Perry to visit Poland and Ukraine to promote US energy

Rick Perry to visit Poland and Ukraine to promote US energy US Energy Secretary Rick Perry will visit Ukraine, Poland and a number of other eastern European countries to promote US energy in a bid to offer the region alternatives to its current reliance on Russia. A Department of Energy […]

US to become key global energy source

US to become key global energy source

A top US energy diplomat has said America will become a significant energy source across the globe, with its innovation in technology and financing that will help boost oil and gas production over the next ten years. Frank Fannon, assistant secretary in the energy bureau of the U.S. state department, […]

Saudi Arabia and Russia extend oil pact

Saudi Arabia and Russia extend oil pact

Saudi Arabia and Russia have agreed to extend their partnership to maintain oil stability, according to Saudi Energy Minister Khalid al-Falih. “Saudi Arabia and Russia will interfere together, along with the heads of the other producing states, to prevent the market form falling out of balance,” the minister said during […]

US concerned Iran will bypass sanctions by going through Russia

US concerned Iran will bypass sanctions by going through Russia

The US has been said to be concerned that Russia could help Iran avoid US sanctions on its oil by buying it from Tehran and selling it on as a Russian commodity. America is set to introduce stringent sanctions on Iran early next month that are aimed at bringing Iranian […]

Poland favour US LNG over Russia

Poland favour US LNG over Russia

Poland’s major gas company PGNiG has signed a 20-year deal with US Venture Global LNG that will see it receive 2 million tons of American LNG annually from 2022, as Poland looks to reduce its reliance on Russia for oil and gas imports. The US LNG will cost Poland a […]