Russia ///

What's new in production

Don Francis, Contributing Editor

Let’s party

First oil

Kurt Abraham, World Oil

A job done well

Crude tumbles most in seven weeks as American stockpiles swell

Oil dropped from the highest price in almost four year amid signs of a growing crude surplus in the world’s biggest economy.

Putin tells Trump to "look in the mirror" when placing blame for high oil prices

Russian President Vladimir Putin said his American counterpart’s Iran sanctions are largely to blame for current high oil prices.

Saudis, Russia open oil taps while the market shrugs

Russia and Saudi Arabia are pumping an extra 1 MMbpd of oil and could do even more. Yet the market doesn’t seem to care.

Russian oil output rises to record as OPEC cuts rolled back

Russia’s oil production hit a post-Soviet high last month as the country rolled back the output cuts it had agreed on with OPEC.

Oil's leap toward $100 softens the blow of Russia sanctions

When former U.S. President Obama imposed sanctions on Russia in 2014, a drop in oil prices turned the penalties into a crushing blow. This time round, markets are doing the opposite.

First oil

Kurt Abraham, World Oil

Moderate, stable growth is in the offing

Russia's biggest oil producers have never had it so good

Russia’s oil companies are simultaneously enjoying record production and the highest prices ever in the local currency.

OPEC squabbles lose relevance as Saudis, Russians set agenda

OPEC seems poised for another contentious meeting in Algeria this weekend as Iran threatens to veto decisions.

Russian oil output hits new high before OPEC talks

Russia’s crude production has jumped to a new post-Soviet record, boosting the nation’s budget revenue as it prepares for talks with OPEC+ on further cooperation.

U.S. warns Russia it may sanction new gas pipeline to Germany

The U.S. warned Russia that it may follow through on sanction threats over the construction of a major natural gas pipeline to Germany.

Rosneft, CNPC agree on wider E&P cooperation

Rosneft and the Chinese National Oil and Gas Corporation (CNPC) signed the Agreement on Cooperation in Exploration and Production in the Russian Federation in the framework of the IV Eastern Economic Forum.

Norway poised to battle with global giants in German gas market

After supplying Europe’s biggest economy with natural gas for more than four decades, Norway is preparing to defend its share as the world’s biggest producers all vie for a larger slice of the $21-billion market.

OPEC highlights threats to oil demand before meeting on output

OPEC highlighted a range of risks brewing in the global economy that could hurt oil demand as ministers prepared for a meeting on production policy, marking a shift from last month’s outlook.

Russia ready to pump oil at record rate if market requires

Russia has the capacity to set a new oil-production record but won’t decide whether the market requires additional supplies before a meeting with its OPEC allies.

Lukoil expands production capacity at Yarega field

Lukoil has commissioned a steam generation farm at Yarega field of highly viscous oil in the Republic of Komi. The facility is to build up production as part of Yarega area Phase 2 development.

Russia's gas giant surpassed by its smaller rival

Imagine a decade from now, U.S. giant Exxon Mobil Corp. has been knocked from its perch as the world’s largest oil company by its rival from tiny Portugal -- about 20 times smaller. It seems unlikely, but something equally strange has just happened in Russia.

Russian exporters gain market share at Iran’s expense

Russia will export more crude to European refiners who cut imports of Iranian oil in September.

Gazprom Neft, Mubadala Petroleum and RDIF to jointly develop oil fields in Western Siberia

Gazprom Neft, Mubadala Petroleum and the Russian Direct Investment Fund (RDIF, the sovereign wealth fund of the Russian Federation) have announced the completion of a transaction establishing a joint venture to develop oil fields in the Tomsk and Omsk Regions of Western Siberia.