Russia orders cut in US diplomats as further sanctions rain down
Moscow has ordered a reduction in the number of US diplomats in Russia and will close down an American recreation retreat in response to fresh sanctions from Washington.
Russia
Russia, the US and the prospect of cooperation on gas supply
Few know the content of this month’s maiden powwow between US President Trump and Russian President Vladimir Putin. Yet given Trump’s suggestion that the US is open for business in Europe regarding natural gas, it would be odd if the Russian leader hadn’t brought up the subject of his country’s standing as one of the region’s main suppliers.
Siemens withdraws from Russian energy after Crimea embarrassment
Industrial manufacturing giant Siemens has been left red faced and forced to backtrack on an arrangement with Russia after an energy scandal involving Crimea.
Opec, Russia to stand firm on oil output pact as glut persists
OPEC and Russia’s plan to clear the global oil glut hasn’t worked as they hoped, but there’s little expectation the world’s largest producers will act more aggressively when they meet this weekend.
Exxon sues US government over £1.5m Ukraine sanctions fine
The Treasury Department has fined Exxon Mobil $2million (£1.5million) for showing “reckless disregard” for US sanctions on Russia while Secretary of State Rex Tillerson was the oil company’s chief executive.
Russian bank’s troubles won’t hurt Exillon, company says
Russia-focused oil producer Exillon Energy said today that it will not be severely impacted by Bank Ugra going into administration.
Libyan output rebound undermines Saudi, Russian cuts
Libya’s rebounding oil output is undermining the supply curbs masterminded by Saudi Arabia and Russia. But any pleas for the OPEC member to exercise restraint will probably be resisted by the technocrat overseeing the North African nation’s turnaround.
Donald Trump Jr ‘never told’ father about meeting
Donald Trump Jr has said he never told his father about a meeting he had with a Russian lawyer who promised him compromising information on rival Hillary Clinton.
Russia said to oppose any move to deepen OPEC cuts at talks
Russia wants to stick to the current OPEC deal and would oppose any proposal for deeper production cuts at the group’s ministerial meeting later this month, said four Russian government officials.
EU extends Russia sanctions over Crimea
The European Union has extended sanctions against Russia for a year over its annexation of Ukraine’s Crimean Peninsula in 2014.
Rosneft makes pioneering new field discovery in Arctic
Russian oil major Rosneft said it had discovered a new Arctic oil field.
Impact of new Russia sanctions muted even as energy shares sag
For investors in Russia’s energy and metals sectors, the U.S. Senate’s bill to expand sanctions was a blow. Whether it will hurt Russian companies targeted by the legislation is less certain.
Russia climbs out of recession, aims to reduce dependence on energy exports
Russia has climbed out of recession despite continuing western sanctions, Vladimir Putin has told the nation.
Russia committed to OPEC deal, Credit Suisse notes claim
Russia remains committed to its production cut agreement with OPEC – according to the notes from a Credit Suisse Russian investor trip.
BP Russia chief hopes for increased production next year
BP hopes to see increased production at the Taas-Yuryakh development in Russia next year.
Paris pact less effective without US, Kremlin claims
The Paris climate deal will be less effective without its key participants, the Kremlin has claimed.
Deadline extended for North Atlantic Drilling to partner up with Russia’s Rosneft
Seadrill subsidiary North Atlantic Drilling (NADL) has extended the deadline for closing a landmark deal with Russia's state-run Rosneft.
Russia-Opec deal quickens decline of Siberian oil heartlands
Russia’s deal with OPEC has bolstered state coffers by putting a floor under crude prices, but it’s also had one unintended consequence: depressing output in the nation’s West Siberian oil heartlands.
Russian ships hit IS positions in Syria with cruise missiles
Russians warships in the Mediterranean Sea have fired four cruise missiles at the Islamic State group’s positions in Syria, the defence ministry in Moscow said.
Production cuts have worked, but we need an extension, Kemp and de Leeuw say
Oil nation’s efforts to re-balance the market via a deal on production cuts have worked, industry experts said, adding that extending the agreement is the right move.
Q&A: Russia’s ex-energy minister on the Opec deal and Moscow-Washington relations
Oil producing nations meet on Thursday to discuss extending production cuts to re-balance crude market supply and demand. The cuts, which came into effect on January 1, comprised a reduction of 1.2million barrels per day for Opec members, and 600,000 for non-Opec states, with Russia making up the bulk of that quota.
OPEC prolonging cut would achieve mission to clear oil glut
The world’s two biggest oil exporters seem to have finally figured out how to eliminate a global surplus that’s kept crude prices in check for almost three years.
Oil jumps as Saudis, Russia favor extending output deal to 2018
Oil jumped to its highest level in two weeks after the Saudi Arabian and Russian energy ministers said they are in favor of extending a production-cut deal for nine months.
Russia’s oil must be considered for global benchmark, Shell says
Shell said the time has come to debate using Russian crude to help determine the global Brent benchmark, in what would be the most radical shift in how European prices are calculated since the 1970s.
Oil stable as Saudi Arabia, Russia say cuts could extend beyond 2017
Oil held onto Friday’s gains as Saudi Arabia and Russia said they’re prepared to extend production cuts into next year to clear the global surplus.