Russia & CIS ///
Saudi Arabia and Russia will no longer hold oil talks in Davos this week, scrapping the first face-to-face meeting since both nations agreed in December to cut output.
Russia is aiming to accelerate the pace of oil production cuts after its reductions drew criticism from Saudi Arabia.
Oil closed higher for the second straight day as Russia and Saudi Arabia signaled they’re on track with production cuts designed to avoid a global supply glut.
Russia’s Novatek PJSC is looking at storing liquefied natural gas produced in the Arctic on Japan’s southern island of Kyushu so it can better meet spot demand from China and cut shipping costs.
Russia is gradually reducing oil production in line with the OPEC+ deal and is on track to get about a fifth of the way toward its pledged cut this month.
Lukoil has successfully completed testing of the fourth well as part of Eridu field (Block 10) appraisal phase in the south of Iraq.
Michele Cowart, World Oil
ABB has been awarded an integrated automation, electrification and telecommunication project, valued at $79 million, for the upgrade of Bab onshore field in Abu Dhabi, by CPECC.
Halliburton Company has announced its board of directors has appointed Jeff Miller, the company’s president and CEO, as chairman of the board, effective Jan. 1, 2019.
PAO Novatek has announced the launch of commercial production of crude oil at the Yaro-Yakhinskoye field developed by Arcticgas, a joint venture between Novatek and Gazprom Neft.
Gazprom Neft and Repsol have established a joint venture to undertake geological exploration in the Karabashsky zone of the Khanty-Mansi Autonomous Okrug-Yugra. Khanty-Mansi Autonomous Okrug.
Crude gained as U.S. equities rebounded and Russia signaled that OPEC and its partners would be willing to meet as needed to help manage the oil market.
Russian officials and executives from its biggest oil companies put on a brave face Wednesday, even as Brent trades near 16-month lows.
Lukoil's cumulative production of oil in the Russian part of the Caspian Sea has exceeded 20 million tonnes, Vladimir Filanovsky field accounting for the most significant gain in production.
Russia’s central bank is not convinced that OPEC and its allies’ supply cuts can revive the oil market as it’s being countered by surging U.S. production.
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Yoshihisa Suzuki, president and CEO of Itochu Corporation, took place in St. Petersburg.
President of Lukoil Vagit Alekperov and Chairman of the Management Committee of Gazprom Alexey Miller discussed bilateral cooperation at a meeting.
On the occasion of the inauguration of Train 3 of the Yamal LNG project in the presence of the Prime Minister of Russia Dmitry Medvedev, Total announces the start of liquefied natural gas (LNG) exports from the third train of the Yamal LNG project in Russia.
Saudi Arabia’s energy minister emerged from days of heated OPEC talks joking that he wasn’t an easy man to be friends with.
U.S. shale’s response to OPEC’s decision to cut supply and boost prices: We’ll take it, but we don’t need it.
OPEC ended talks without a deal on oil production cuts for the first time in nearly five years as Russia flexed its muscles by so far refusing to commit to the big output curb that Saudi Arabia is demanding.