Rosneft completes seismic first
Rosneft has completed a seismic first as part of its geological exploration programme.
Russia
Russia sees oil price around $40-60 for next seven years
Russia's Deputy Finance Minister Maxim Oreshkin said on Friday that the ministry saw the oil price trading around $40 to $60 a barrel for the next seven years. International prices for oil, Russia's chief export, have plunged over the year and a half, adding to the pressure on its finances from international sanctions over its part in the crisis in Ukraine.
Russia launches strike from submarine on IS stronghold
Russia’s defence minister said its military had launched the strikes in Syria for the first time from a submarine stationed in the Mediterranean. The move was made as the country continues to target oil hotspots being used by Islamic State as it looks to profit from crude oil in the region.
Ukraine’s PM calls for halt on Nord Stream II pipeline project
The Prime Minister of Ukraine has called for the European Union to block the Nord Steam II gas pipeline project, according to reports. The leader said it would hurt his country and also potentially provide Russia with more of a monopoly over gas supplies in the region.
Russia accuses Turkish PM of involvement in Islamic State oil trade
Russia’s deputy defence minister has accused the Turkish president and his family of personally benefiting from the illegal oil trade with Islamic State militants.
Russian oil output close to record level ahead of OPEC meeting
Russian oil output in November hovered near a post-Soviet record set the previous month, shrugging off a crude-price slump before OPEC gathers for its biannual meeting in Vienna.
Russia seeks tighter UN crackdown on terror financing, after unanimous oil vote
Russia is planning to circulate a draft United Nations resolution that will tighten the world body’s crackdown on financing terrorist groups including the Islamic State (IS).
Turkey criticises ‘unfounded’ Russian claims of oil purchases
Russia has been accused of trying to “cover up” its infringement of Turkish airspace with “unfounded” claims that Turkey is illegally importing oil from the Islamic State (IS) group in Syria.
EU countries see threat from Russia’s gas link extension into western Europe
Russia's plans to extend its gas link to Germany run counter to EU interests and risk further destabilising Ukraine, 10 European governments said in a letter to the European Commission that called for a summit-level debate on the issue.
Oil workers killed as helicopter crashes in Siberia
A Russian helicopter carrying oil workers has crashed in eastern Siberia, killing 10 of the 25 people on board, officials said.
Putin says Russian plane downed after successfully targeting oil infrastructure
Vladimir Putin has ordered state-of-the-art air defence missile systems to be deployed at a Russian air base in Syria following the downing of a Russian warplane by Turkey.
Oil jumps as Mideast tensions rise after Russian plane downed
Oil jumped after Turkey shot down a Russian warplane near the border with Syria, fanning concern that conflict in the region may intensify.
Egypt signs deal with Russia for first nuclear plant
An agreement has been signed between Egypt and Russia for its to build a nuclear plant in the African country. Russia will also extend a loan to Egypt to cover the cost of the construction.
Urals Energy buys Russian companies for $5.3million
Urals Energy snapped up two private Russian companies, RK-Oil and BVN Oil for almost $5.3million.
Video: Russia strikes IS oil trucks in Syria
Russia has warned it will target tanker trucks believed to be connected to Islamic State (IS) in Syria. The country released footage which showed its fighter jets have been targeting oil trucks as well as a refinery as it looks to cut the terror group’s main source of income. Russian military official Andrei Kartapolov was quoted by news sources in which he said his country was in a “free hunt” against tanker trucks carrying oil products believed to be belonging to terrorists.
Exillon production down in Russia last month
Exillon Energy said average production from its two Russian assets was slightly lower in October than the previous month.
Eurasia Drilling delists from stock market
Russia's largest oil driller Eurasia Drilling has formally delisted following a buyout by company's shareholders.
Russia’s oil rivalry with Saudis masks the bigger Iranian threat
Competition is growing in Russia’s biggest oil market. While Saudi Arabia’s encroachment in Europe is getting all the attention, the biggest threat comes from another part of the Middle East -- Iran. The world’s largest oil exporter has started shipping crude to traditional Russian markets like Poland and Sweden, but Saudi supplies to Europe won’t increase by enough to reduce prices, said Texas-based consultant Stratfor. In contrast, a surge in Iranian exports after the lifting of sanctions could erode the value of Russian shipments to the region as soon as next year, according to KBC Advanced Technologies.
Swedish refiner buys first cargo of oil from Saudi Arabia as competition with Russia heats up
Swedish refiner Preem has bought its first cargo of Saudi Arabian crude oil in around two decades. The purchase from another traditional buyer of Russia’s Urals crude is expected to heat up the contest for the market share which Saudi Arabia has effectively brought to Russia’s backyard in the Baltic region.
Appeal launched to resolve gas price row with Russia
An appeal has been made by the Turkish state gas importer Botas to the International Chamber of Commerce in a bid to resolve a row over the price of gas from Russia. The move has been made after the two countries failed to sign an deal. Earlier this year Turkey said it had obtained a 10.25% price discount on the 28-30 billion cubic metres (bcm) of gas it buys from Russia each year but the two sides have been at loggerheads over the deal for months.
Rosneft signs agreement with Russian Ministry of Foreign Affairs
Rosneft has signed an agreement of cooperation with the Ministry of Foreign Affairs of the Russian Federation. The document was signed by the company’s chairman of the management board Igor Sechin and the Minister of foreign affairs from Russia, Sergey Lavrov.
Exillon issues latest production figures
Exillon Energy,the London listed oil producer with assets in two oil-rich regions of Russia, has published its latest unaudited production figures for September.
Gazprom planning for the lowest fuel price in EU market for a decade
Gazprom PJSC, the world’s biggest natural gas exporter, is planning for the lowest price for its fuel in its main European market for more than a decade. The state-run exporter is drafting its budget for 2016 with preliminary estimates for gas prices outside the former Soviet Union of about $200 per 1,000 cubic meters ($5.45 a million British thermal units), said two people with direct knowledge of the matter who asked not to be identified because the information is private.
Russia offers gas supplies to Iran in swap deal
Russia's Energy Minister has offered gas supplies to Iran as part of a swap agreement with the Middle Eastern country. The politician said the Kremlin-controlled gas producer Gazprom was also considering other possible deals. The country has been looking to boost its efforts to foster political and economic ties with Tehran.
Chief exec of Russia’s Rosneft criticises Saudi oil-market strategy
Saudi Arabia’s move to maintain its share of the global oil market and expand in Europe will backfire, said the chief executive officer of Russia’s largest oil producer. “The strategy that Saudi Arabia has chosen doesn’t bring any significant victories,” Igor Sechin, CEO of OAO Rosneft, said Thursday at the Eurasian Forum in Verona, Italy. “More likely the opposite.” After the US cut imports amid a boom in domestic production, exporters from the Middle East are increasing output and seeking new markets, a move that isn’t helpful for the global industry, Sechin said.