Novak Estimated the Production of Energy Resources in Russia Over the Weekend
The extraction and production of energy resources in Russia went according to plan over the weekend, the protection of fuel and energy complex facilities was strengthened, said Russian Deputy Prime Minister Alexander Novak. “As for the production of basic energy products – these are oil products, coal, oil and gas …
Russian Oil And Gas Companies Are Ready to Continue Investing in the Industry, Despite Geopolitical Difficulties
Russia maintains oil and gas production at a high level, despite geopolitical difficulties. The implementation of most major projects continues, which means that we can expect that everything will be in order with investment programs. Last year, the Russian oil industry managed to increase investment by 22 percent compared to …
Russia and Iraq Confirmed the Commitment to Reducing Oil Production
Energy Deputy Prime Minister, oil minister Iraq Hayan Abdel Gani and his Russian colleague, Deputy Prime Minister of the Russian Federation Alexander Novak announced the importance of collective actions and unified positions of the OPEC-OPEC+ oil and stability for the stability of world oil markets, confirming the retention of oil …
Iran and Russia Signed 8 Memorandums of Understanding, 2 Contracts in Different Oilfields
Iran and Russia signed as many as 10 agreements and memorandums of understanding (MOU) on cooperation in the oil industry on Wednesday. The memorandums of understanding and agreements were signed following a meeting between Iranian Oil Minister Javad Ovji and Russian Deputy Prime Minister Alexander Novak, who are also co-chairs …
Russia Reaffirms Commitment to Voluntary Cuts in Oil Production
Russia reaffirms its full commitment to and implementation of its voluntary cut in oil production, Russian Deputy Prime Minister Alexander Novak told reporters. “Given the unfounded speculation in the press regarding oil production levels, Russia reaffirms its full commitment to and implementation of voluntary oil production cut levels,” he said. …
Which Russian Oil Companies Have the Most Increase in the Number of Idle Wells
The number of idle oil wells has increased in Russia. According to Bloomberg, their share rose to 18.1% in March from 15.6% in February, the largest since May 2022, when the Russian Federation carried out short-term production cuts amid the first waves of international energy sanctions. Bashneft and Slavneft announced …
Oil Price Has Risen Sharply after Novak’s Words About the Reduction in Production in Russia
Commodity prices resumed growth after Deputy Prime Minister Alexander Novak said that Russia plans to cut oil production by 500 thousand barrels per day in March The cost of April futures for Brent crude on the London ICE Futures exchange rose by 2.78% and rose to $86.85 per barrel, according …
Russia Will Reduce Oil Production by 500 Thousand Barrels Per Day
According to Deputy Prime Minister Alexander Novak, Russia will carry out a reduction in production voluntarily, which will help “restore market relations.” At the same time, he confirmed the refusal of supplies to those who introduced the price ceiling for oil. Russia in March will reduce oil production by 500 …
Alexander Novak Estimated Budget Revenues From the Oil and Gas Industry at 2.5 Trillion Rubles
Alexander Novak: exports of oil and gas products grew by 28% and brought the budget 2.5 trillion rubles. Last year, Russian budget revenues from the oil and gas industry grew by more than a quarter, and Russia also increased the export of oil and liquefied natural gas (LNG), Deputy Prime …
Alexander Novak: Oil Demand Will Reach Pre-Pandemic Levels by the End of Summer 2022
Moscow. Russian Deputy Prime Minister Alexander Novak has named the time frame when the demand for oil will recover to the pre-pandemic level. This should happen by the end of the summer of 2022. He said that Russia expects that at the OPEC + meeting, which will be held on November 4, the …