Russia ///

Bentec wins Russian contract for seven 320t cluster slider drilling rigs

Bentec has signed a multi-million euro contract with the drilling division of INK-Service Group for the manufacture of seven latest-generation 320t cluster slider rigs. INK is the oilfield service unit of Russia’s Irkutsk Oil Company.

After the Saudi attack, are Russia and Saudi Arabia still pumping too much oil?

This year, the oil market has faced some of the worst supply disruptions in recent times and yet prices remain stuck in the $60s.

ADNOC CEO, Russian energy minister meet to explore collaboration potential

Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Group CEO of ADNOC and Alexander Novak, Minister of Energy of the Russian Federation met to explore potential opportunities for collaboration as ADNOC seeks to expand its strategic partnership and investment base across its entire value chain.

Poland wins bid to reduce Russian control of EU gas pipeline

Poland successfully challenged a European Commission decision that allowed Gazprom PJSC to use most of the capacity on the Opal pipeline in Germany. That link in turn carries fuel from the Baltic Sea Nord Stream pipeline, a key part of the Moscow-based company’s plans to avoid shipping its fuel across Ukraine.

Gazprom building partnership to realize LNG as marine fuel

Gazprom is exploring development of LNG-powered vessels and associated support, interacting with potential consumers from among shipping companies, building infrastructure for LNG bunkering, and creating an up-to-date legal and regulatory framework for the use of LNG as a motor fuel.

Russia’s LNG ambitions advance with multi-billion export plans

Russia took a step closer to becoming a dominant player in the global liquefied natural gas market as two of its biggest energy companies advanced plans to export the fuel from its remotest corners.

Putin’s budget has lowest break-even oil price in over a decade

Oil prices may be recovering, but Russian President Vladimir Putin isn’t taking any chances, running a budget that balances at the lowest crude price in more than a decade.

Equinor and partners log Barents Sea discovery

Equinor and partners OMV and Petoro have made an oil discovery in the Sputnik exploration well in the Barents Sea. Recoverable resources are preliminarily estimated at 20-65 MMboe.

U.S. oil sanctions leave Russian exporters $1 billion richer

U.S. sanctions against Iran and Venezuela have inadvertently increased demand for a Russian brand of crude oil, boosting revenues for the nation’s exporters.

Oil power shifts as Russia’s wealth strengthens its OPEC leverage

the Bank of Russia’s total stockpile of cash, gold and other securities is about to surpass Saudi Arabia’s, highlighting the Kremlin’s leverage in talks between major oil producers about how much to reduce production.

Saudis have few good options in talks with OPEC+ allies

Saudi Arabia is considering means to end the slump in oil prices, but the options available to them are scarce.

BP can’t find a home for contaminated Russian crude

Russia’s contaminated oil crisis isn’t over yet -- at least not for the traders trying to find a home for the cargoes they unwittingly bought.

Senate panel advances U.S. sanctions against Allseas, Saipem on Nord Stream 2 pipeline

The Senate Foreign Relations Committee advanced legislation Wednesday that would impose sanctions on undersea construction of the Nord Stream 2 pipeline for shipping gas from Russia to Germany.

Gazprom offers $2.3-billion stake to monetize quasi-treasury shares

CEO Alexey MIller said the company was looking for “different market ways to monetize” its portfolio of quasi-treasury shares, owned by Gazprom’s units.

OPEC+ mission to buoy oil market enters make-or-break phase

The latest mission by OPEC and its partners to contain an oil glut is entering its most critical phase.

KCA Deutag wins $168 million in Russian drilling contracts

Global drilling and engineering contractor KCA Deutag (KCAD) is delighted to announce that its land drilling operation has won three new contracts in Russia worth approximately $168 million.

Recoverable oil reserves at Russkoye field increased 8%

The AB1 recoverable oil reserves of Russkoye field have increased 8% following exploration work carried out by Tyumenneftegaz, a petroleum production company belonging to Rosneft.

Saudis dig-in for shale fight as OPEC+ extends cuts to 2020

Saudi Arabia, OPEC’s dominant producer, will keep doing the heavy lifting as the cartel and its allies were all but forced to extend their effort to counter the U.S. shale boom into a fourth year.

Saudi Arabia and Russia aren’t feeling OPEC’s market-share pain

OPEC may be losing its share of the global oil market, but not all losses are spread equally.

Russia, Saudi Arabia agree to maintain oil cuts for as long as nine months

Russian President Vladimir Putin struck a deal with Saudi Crown Prince Mohammed Bin Salman to extend the OPEC+ agreement at current production levels for the rest of this year and potentially into early 2020.