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Category: Russia

LUKOIL Holds Staff Appointments among Top Managers

“In connection with the election of Ravil Maganov to the post of chairman of the Board of Directors of PJSC LUKOIL, Vadim Vorobyov has been…

Europe Shuns Russia’s Crude Oil As Price Soars

European refiners are shunning Russia’s flagship crude grade Urals, which is now more expensive than Brent Crude after Russia cut its exports as part of…

Russia Develops Drone-Disabling Systems To Protect Oil Facilities

Russian state-controlled cybersecurity company Concern Avtomatika JSC is selling systems capable of disabling drones that target oil facilities—technology that has become sought-after in Russia and…

Russian Oil Revenues Decreased by 25% in Four Months

The volume of Russian oil export in January-April 2020 decreased by 1% compared to the same period last year – from 72 million tons to…

Russia Expects Average Price of Urals Oil in 2020 at $ 35 per Barrel

The Ministry of Energy of the Russian Federation expects that the average price of Russian Urals oil in 2020 will be $ 35 per barrel, the Minister Alexander…

Novak: Oil Price of $ 40 per Barrel Reflects Real Situation in Market

Today’s oil quotes objectively reflect the supply and demand situation that arose under the restrictive measures introduced to combat the COVID-19 coronavirus, Russian Energy Minister…

Russian Sovereign Wealth Fund Speaks Out Against Further OPEC+ Cuts

The one-month extension to the deepest OPEC+ oil production cuts will be enough to speed up market rebalancing and there is no need to extend…

What Will Happen to Russian Oil, Gas Projects on Shelf

Falling oil prices below $ 30, contrary to many idle talks, has not canceled Russia’s offshore oil and gas projects, both current and prospective. But…

Gazprom expects to export 166.6 bln cubic meters of gas to Europe in 2020

Gazprom is preparing its budget for this year on the basis of expectations of 166.6 bln cubic meters of gas to be exported to Europe…

LUKOIL commissions digital substation in Perm Region

LUKOIL commissioned its first digital power substation at Chashkinskoye field in Perm Region. The new facility distributes and delivers electric power from a gas turbine…

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