JRL NEWSWATCH: “Russia-Saudi Plans for Super-OPEC Could Reshape Global Oil Order” – Bloomberg/Will Kennedy, Elena Mazneva, Wael Mahdi

File Photo of King Salman of Saudi Arabia Seated Next to Saudi Flag and Gesturing, adapted from image at defense.gov

“… the group overseeing the so-called OPEC+ deal met last night [with] proceedings … dominated by … Saudi Arabia and Russia. … probably a snapshot of the oil market’s future.  Beyond … this week’s diplomatic efforts to agree to an increase in oil production, the more significant longer-term development may be moves to make Russia’s role in managing global supply […]

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JRL NEWSWATCH: “Putin says he’s making Russia great again. In reality, it’s crumbling; The country has been bolstered by European disunity but that obscures a multitude of ills” – The Spectator (UK)/Owen Matthews

Kremlin and River

“[Despite the World Cup and] … patriotic hype over grand multi-billion dollar infrastructure projects like a new bridge to Crimea and shiny stadiums, Russia is crumbling. … [Russia’s own statistics indicate] 68,100 schools in 2000; 41,100 now. … 10,700 hospitals [when Putin took power, now reduced to] 5,400. … living space declared unfit for habitation has more than doubled … […]

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JRL NEWSWATCH: “Transformed Gas Markets Fuel U.S.-Russian Rivalry, But Europe Plays Key Role Too [Excerpt]” – Russia Matters/Morena Skalamera

Gas Flame file photo

[Full text: russiamatters.org/analysis/transformed-gas-markets-fuel-us-russian-rivalry-europe-plays-key-role-too; This article first appeared on the Russia Matters website, russiamatters.org, with the title “Transformed Gas Markets Fuel U.S.-Russian Rivalry, But Europe Plays Key Role Too”] “This month, the Wall Street Journal reported that U.S. President Donald Trump has been pressuring Germany to drop its support for a major new Russian gas pipeline if Europe wants to avoid […]

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Russia Just Won Big In The European Gas War

Gas Facility file photo

(Oilprice.com – Tim Daiss – May 28, 2018) There’s been a lot of talk on both sides of the Atlantic about the U.S. pivot and efforts at locking in natural as market share in Europe. Much of this comes amid President Donald Trump’s so-called American energy independence push as well as both U.S. and several EU members thrust to wean […]

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NEWSWATCH: “Russia Flexes Its Soft Power Muscles; Extending output cuts deepens its role in global affairs” – Bloomberg/Julian Lee

File Photo of King Salman of Saudi Arabia Seated Next to Saudi Flag and Gesturing, adapted from image at defense.gov

“Oil has … [surpassed] $80 a barrel for the first time since November 2014. OPEC’s inventory target for output cuts has been met. … even though [Russian] oil companies want to turn on the taps and its finance ministry may be worried about prices rising too far, Russia won’t [end] its output deal with the group … when … participants […]

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Is Russia About To Abandon The OPEC Deal?

Oil Well file photo

(Oilprice.com – Irina Slav – May 17, 2018) OPEC and Russia are meeting in a little more than a month to discuss the progress of their oil production deal and what’s next. On the face of things, there will be no surprises: every country taking part in the deal is still committed to the cuts until the end of the […]

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‘Thank You, Donald’ for Sending Oil Prices Up, Russian Commentator Says

Oil Wells File Photo

(Paul Goble – Window on Eurasia – Staunton, May 13, 2018) As a result of rising petroleum prices and projections that they will go even higher as result of instability in the Middle East, the Russian Federation is projected to earn five times as much from the sale of oil and gas this year than last and have a budget […]

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Expert Analysis: What’s Next For Russian Oil

Oil Well file photo

(Oilprice.com – Viktor Katona – May 14, 2018) [Text with links oilprice.com/Energy/Energy-General/Expert-Analysis-Whats-Next-For-Russian-Oil.html] In the wake of Putin’s May 7 inauguration, the corridors of power in Moscow have been replete with speculation regarding the composition of the next government. Alexander Novak, the Energy Minister, is one of the lucky few whose performance President Putin was genuinely satisfied with, hence the lack […]

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Putin: Russia Looks To Get Free Of U.S. Dollar ‘Burden’ In Oil Trade

Offshore Oil Rig file photo

(Oilprice.com – Tsvetana Paraskova – May 9, 2018) Russia is mulling over ways to ‘get free’ of the U.S. dollar burden in oil trade as part of a plan to boost its national economic sovereignty, Russian President Vladimir Putin said. “Oil is traded in dollars on the exchange,” TASS news agency quoted Putin as saying. “Certainly, we are thinking about […]

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Europe Buys More Russian Gas Despite Strained Relations

Gas Flame file photo

(Oilprice.com – Tsvetana Paraskova – May 8, 2018) The West-Russia relations have reached a new low since the Cold War amid the spy poisoning scandal in the UK, allegations of Russian meddling in elections, and fresh U.S. sanctions on Russia. Yet European countries continue to buy increased amounts of Russian gas, and Russia’s state-held gas giant Gazprom is boosting production […]

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NEWSWATCH: “Misplaced Fears Over Nord Stream 2; Nord Stream 2 provides another reliable route for transporting gas to Europe, nothing more, nothing less.” – The National Interest/Klaus Schäfer, Mario Mehren, Rainer Seele

Gas Flame file photo

“… The European gas market has … modernized and liberalized over the last decade. …. The Third Energy Package put in place a well-developed, intra-European framework of hubs that allows gas to flow freely in multiple directions from a variety of points of origin. … allow[ing] European consumers to buy gas from whomever they wish … [it] simply does not […]

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NEWSWATCH: “Russia in interesting times: increased risk bad; weaker ruble good” – bne Intellinews/Chris Weafer

Portion of U.S. Treasury Department Building Facade, North Side, with Sculpture of Alexander Hamilton

“… April 6 U.S. sanctions [represent a significant shift] in terms of risk … actual and perceived, for foreign investors and companies …. The … Treasury Department … expanded the risk paramaters … targeting oligarchs and their business interests … previously it was assumed that sanctions expansion would be confined to political targets and individuals considered close to the president […]

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NEWSLINK: “The Arctic as the next battleground? Don’t count on it” – Asia Times/Richard A. Bitzinger

Arctic Map

“… as tensions between Russia and the West also grow, where might conflict between these two camps break out? … Global warming … raises the specter that the Arctic might become a new zone for conflict, as the polar icecap recedes and the area becomes more accessible. In the first place, competition for natural resources in the region is increasing. […]

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NEWSWATCH: “How Russia’s Economic Recession Benefits Moscow Politically in its ‘Near Abroad’ [Excerpt]” – PONARS Eurasia/Mariya Omelicheva

Map of Commonwealth of Independent States, European Portion

Mariya Y. Omelicheva is Professor in the Department of Political Science at the University of Kansas. “Over the short run, Russia’s acrimonious relations with the West are serving the Kremlin’s broader effort of heightening its influence in its ‘near abroad.’ In 2014, Russia was hit by a triple whammy of low oil prices, Western sanctions, and Moscow’s counter-sanctions. During the […]

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NEWSWATCH: “Putin’s Turkey visit brings S-400 missile and nuclear plant headway” – bne Intellinews

Turkey and Environs Satellite Image

“… Erdogan received … Putin in Ankara … with a crowded agenda … including … Turkey’s first nuclear power plant, the purchase of the Russian S-400 missile defence system and progress with the TurkStream natural gas pipeline …. even more challenging … with the scheduled arrival of Iranian President Hassan Rouhani and … the complicated task of finding an end-game […]

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NEWSWATCH: “Russian Billionaire Arrest Jolts Stocks, Fuels Cabinet Shake-Up Speculation” – Bloomberg/Ksenia Galouchko, Ilya Arkhipov, Stepan Kravchenko

Map of Russia and Russian Flag adapted from images at state.gov

“The arrest of one of Russia’s best-connected billionaires on charges of fraud and embezzlement knocked shares in his companies lower and fueled speculation it could be the harbinger of a shake-up in the cabinet …. [Dagestani-born] Ziyavudin Magomedov was arrested … with his brother … as he prepared to fly to the U.S. … he denied the charges but was […]

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NEWSWATCH: “Russian Voters Left Guessing at Putin’s Economic Plan” – Reuters

Cash, Calculator, Pen

“… Putin will enter Sunday’s election with little agreement among his top policymakers on an economic strategy for his next term …. Many Russians … prospered … [when] high oil prices contribut[ed] to bumper growth rates before … 2008 …. But the economy sank into recession after Western … sanctions … [over] Ukraine. A collapse in oil prices and the […]

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NEWSWATCH: “Why Is Russian Gas in Boston Harbor? Environmentalists’ war on fossil fuels helps Vladimir Putin” – Wall Street Journal/Drew Johnson

Gas Flame file photo

“Why are some parts of America reliant on Russian natural gas, especially when domestic gas production has surged? … [it’s] political. … Massachusetts and New Hampshire [officials] blocked … the $3 billion Access Northeast Pipeline, which would have … provided fuel to three New England states. … [the] Massachusetts Attorney General … claimed the state could ‘maintain electric reliability’ without […]

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NEWSWATCH: “Ukraine maintains gas transit to Europe despite new gas war with Russia” – Intellinews/Ben Aris

Gas Flame file photo

“Fears that Russia would stop sending transit gas to its European customers via Ukraine were not borne out over the weekend despite Russian state own gas monopolist Gazprom’s announcement that it was going to break its contracts with its Ukrainian counter party Naftogaz on March 2. Naftogaz immediately announced emergency measures, calling on Ukrainians to turn down the thermostat, switching […]

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Interfax: Medvedev: U.S. seeks to oust Russian companies from European market by putting them on different lists

Dmitri Medvedev file photo

SOCHI. Feb 15 (Interfax) – The United States is seeking to oust Russian companies from European market by including them in different lists, Russian Prime Minister Dmitry Medvedev said. “Why are they doing so? For purely pragmatic reasons, this is because they want to promote their companies to European market, but, saying it straightforwardly, Europe and the U.S. are now […]

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Russia Gets $41.5 Billion Boost From OPEC Deal

Oil Well file photo

(Oilprice.com – Tsvetana Paraskova – February 13, 2018) Since the start of the OPEC-Russia production cut deal, Russia’s oil companies and government have received the equivalent of around US$41.5 billion more in proceeds, thanks to the higher oil prices, Russian Energy Minister Alexander Novak said on Tuesday. Due to the higher oil prices as a result of the pact, Russia’s […]

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Interfax: Russia could have budget surplus of 1.2% of GDP, NWF could grow 3.5 trillion rubles in 2018 – Econ Ministry

Diverse Paper Currency, Coins, Line Graph

MOSCOW. Feb 13 (Interfax) – Russia could have a budget surplus of 1.2% of GDP in 2018 if current oil prices persist, the Russian Economic Development Ministry said in its latest monthly monitoring report. The National Welfare Fund (NWF) could in that case grow by 3.5 trillion rubles or around $60 billion at the current rate, it said. The NWF […]

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NEWSLINK: “Why does Trump hate Russia?” – The Hill/Frank R. Gunter

File Photo of White House with South Lawn and Fountain

“… has Trump helped Russia? The economic, political and diplomatic evidence supports a negative view – Trump’s actions have severely damaged Putin’s Russia. The collapse of energy prices since 2014 devastated the Russian economy. It is generous to call Russia an industrial state. It is more like a developing country in that its exports are dominated by raw materials such […]

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Russia Struggling To Expand Arctic Oil Production

Arctic Satellite Image and Map

(Oilprice.com – Tsvetana Paraskova – January 30, 2018) Oil production from Russia’s Arctic region increased in 2017 as new onshore developments and the only offshore producing platform ramped up production. But challenges in Russia’s arctic remain. Last year, production from onshore fields in Yamal-Nenets autonomous region in northern Russia contributed the most to the rise in oil production in the […]

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NEWSWATCH: “Russia global top oil producer in November” – bne Intellinews

Oil Well file photo

“Russia produced an average of 10.12mn barrels of oil daily in November 2017, down from 10.86 a month earlier[,] but … is still the world’s top oil producer in the reporting month … Rosstat [says]. … followed by Saudi Arabia with 9.9mn barrels of average daily oil output. The combined output of the Opec states amounted to 32mn barrels in […]

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Can Russia Sustain Its Foreign Policy Power Plays in 2018?

File Photo of U.S. Embassy Moscow, with Russian Foreign Ministry Building in Distance

(Moscow Times – themoscowtimes.com – Jonathan Brown, Editor, Moscow Times – January 31, 2018) When Vladimir Putin landed in Syria late last year, he was greeted by President Bashar Assad not as a foreign dignitary, but as the guardian of the embattled nation. “Syria has been preserved as a sovereign and independent state,” Putin told soldiers assembled at the Khmeimim […]

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NEWSWATCH: “Gazprom gas exports to Europe rise 8% to new record” – Financial Times/ Henry Foy

Gas Flame file photo

“Russia’s gas exports to Europe rose 8.1 per cent last year to a record level of 193.9bn cubic metres (bcm), the company’s head said … as the world’s largest gas producer continued to increase sales despite rising competition from LNG and other sources. Gazprom … has a monopoly over Russia’s gas pipelines to Europe [and] has been forced to reduce […]

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NEWSLINK: “Russia to Keep Its Grip on Europe’s Gas Market After Record 2017” – Bloomberg/ Elena Mazneva

Gas Facility file photo

“Russia is working to keep natural gas exports to Europe near record levels in 2018 after the continent’s biggest supplier, Gazprom PJSC, said its deliveries this year signal it is achieving on its ambitions to expand. …”  

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NEWSWATCH: “U.S. Criticizes Germany’s Support of New Russian Natural Gas Line; Top state department official praises Denmark for passing law that could hamper pipeline project” – Wall Street Journal/ Paul Sonne

Gas Flame file photo

“[Assistant Secretary of State for European and Eurasian affairs A. Wess Mitchell] offered harsh words … for Germany over the country’s continued support for a new Russian gas pipeline to Europe … known as Nord Stream 2 … a wholly owned subsidiary of Russian state energy giant Gazprom [that] would double Russia’s export capacity … adding a second link between Russia and Germany. * […]

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NEWSWATCH: “Gazprom spends big to keep trillion dollar dream alive; Russian gas exporter ramps up borrowing and raids cashpile to maintain growth” – Financial Times/ Henry Foy

Gas Facility file photo

“In an effort to fight back, Gazprom is …. [r]amping up borrowing and raiding its … cash pile … splurging on critical new infrastructure …. it announced that it expected to spend 24 per cent more this year on long-term investment, capital expenditure and acquisitions previously forecast. … next year’s spending [is projected to] hit a record Rbs 1.28tn ($22bn), up 13 per cent on […]

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Gazprom Speaks Out Against OPEC Production Cut Extension

Gas Facility file photo

(Oilprice.com – Tsvetana Paraskova – November 21, 2017) While OPEC is said to be mostly leaning toward a 9-month extension of the production cuts, Russia’s Energy Minister Alexander Novak and major Russian oil companies discussed last week a six-month extension after March 2018, and all but one company said they were ready to extend, Russia’s TASS news agency reported on […]

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Russia Unfazed By U.S. Oil Sanctions

Oil Well file photo

(Oilprice.com – Viktor Katona – November 9, 2017) Western energy sanctions vis-à-vis Russia have become a steady phenomenon of the global oil and gas market. Most Russian oil companies don’t expect sanctions to be scrapped anytime soon-an assessment espoused by the political elites of the country, too. The sides even seem to have resigned their minds to the current frosty […]

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Russian LNG Unfazed By U.S. Sanctions

Asia Map

(Oilprice.com – Tsvetana Paraskova – November 2, 2017) Russia’s energy industry faces a new round of U.S. sanctions – including on oil projects in any location if a designated entity holds more than 33 percent. And in Europe, where Russia’s gas giant Gazprom currently holds a large share of the gas supplies, Poland and Lithuania are buying U.S. LNG in […]

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NEWSWATCH: “Russia Uses Its Oil Giant, Rosneft, as a Foreign Policy Tool” – New York Times/ Clifford Krauss

File Photo of Rosneft and Russian Flags Next to Rosneft Banner

“Russia is increasingly wielding oil as a geopolitical tool, spreading … influence … and challenging the interests of the United States. … Moscow risks running into trouble … lend[ing] money and mak[ing] deals in turbulent economies and shaky political climates. The strategy faces a crucial test this week in Venezuela, a Russian ally that must come up with a billion dollars to avert […]

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Russia Goes All In On Arctic Oil Development

Arctic Map

(Oilprice.com – Tsvetana Paraskova – October 19, 2017) Neither sanctions nor persistently low oil prices are hindering Russia’s ambitions or plans to develop oil resources in its sections of the Arctic. In April, state-controlled oil giant Rosneft started drilling the northernmost well on the Russian Arctic shelf in the Khatangsky license area in the Laptev Sea. In June, Rosneft struck […]

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A Corruption Trial Splits the Kremlin; The former economy minister got caught in a sting, and no one knows where Putin stands.

File Photo of Kremlin Tower, St. Basil's, Red Square at Night

(Bloomberg – bloomberg.com – Evgenia Pismennaya, Ilya Arkhipov, Henry Meyer, Irina Reznik – October 11, 2017) The first prosecution of a minister for graft under Russian President Vladimir Putin contains the kind of details you’d expect in a spy novel, from hidden microphones and coded hand signals to homemade sausages and a bag stuffed with cash. The case against former […]

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Is This The Geopolitical Shift Of The Century?

Middle East Map

(Oilprice.com – Cyril Widdershoven – October 7, 2017) Dr. Cyril Widdershoven is a long-time observer of the global energy market. Presently, he holds several advisory positions with international think tanks in the Middle East and energy sectors in the Netherlands, the United Kingdom, and the United States. The geopolitical reality in the Middle East is changing dramatically. The impact of […]

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NEWSWATCH: “OPEC Pushes Russia to Continue Helping on Oil Prices” – Wall Street Journal/ Benoit Faucon, Summer Said, Nathan Hodge

File Photo of King Salman of Saudi Arabia Seated Next to Saudi Flag and Gesturing, adapted from image at defense.gov

As King Salman becomes the first Saudi Monarch to visit Moscow, The Wall Street Journal reports on efforts by OPEC to keep Russia in an ad hoc coalition to suppress global oil production. “Saudi Arabia and OPEC are lobbying Russia to stay on board with their efforts to raise oil prices, amid signals that Moscow wants to end its participation in costly […]

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RUSSIALINK: “[Putin at] Russian Energy Week Forum plenary session” – KremlinRu

Vladimir Putin file photo with VOA logo; screen shot from video still

[This excerpt includes only the comments by Putin] [Click here for Q&A and video with English interpretation: en.kremlin.ru/events/president/news/55767] Vladimir Putin attended a plenary session of the first Russian Energy Week (REW) Energy Efficiency and Energy Development International Forum. Following the plenary session, Vladimir Putin had a brief meeting with foreign guests of the Russian Energy Week who arrived in Moscow to […]

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The Best Quotes From Putin at the Russian Energy Week Forum

Vladimir Putin file photo with VOA logo; screen shot from video still

(Moscow Times – themoscowtimes.com – October 4, 2017) President Vladimir Putin took part in the Russian Energy Week forum in Moscow on Wednesday, where he spoke about North Korea, his relationship with U.S. President Donald Trump and electric cars. Here are some of the highlights: On the elections next year – “I haven’t decided whether I’m going to run at […]

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Saudi Arabia to Plan Russia Deals, Deepening Energy Ties

File Photo of King Salman of Saudi Arabia Seated Next to Saudi Flag and Gesturing, adapted from image at defense.gov

(Bloomberg – bloomberg.com – Wael Mahdi , Elena Mazneva, Ilya Arkhipov – October 3, 2017) Saudi Arabia is looking at unprecedented deals to acquire #oil and #gas assets in Russia, deepening ties between the world’s largest energy exporters as the Saudi king prepares to visit Moscow later this week. OPEC’s biggest crude producer is considering investing in Russia’s largest oil […]

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NEWSWATCH: “Oil prices rise to highest level in two years” – Intellinews/ Ben Aris

Oil Wells File Photo

“Trouble between Turkey and the Kurds led oil prices to rise to $59 per barrel on September 26, their highest level in more than two years. Kurds held a referendum in … Iraq calling for … an independent Kurdish homeland for the ethnic group, who spill over the borders of neighbouring Turkey, Iran and Syria. Turkish President Recep Tayyip Erdogan […]

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NEWSLINK: “Greasing the public’s hands: how oil and gas taxes financed the Kremlin’s social contract” – Bear Market Blog/ Miranda Lupion

Gas Flame file photo

“This past month, Russian news outlet RBC published a detailed report breaking down the revenue sources that funded the Kremlin’s 2016 federal budget. While the headline, “50 Companies Furnished Half of the Russian Budget’s Tax Revenue,” may come as no surprise to those familiar with the country’s business landscape, the fine print is worth a double take. In 2016, revenue […]

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NEWSLINK: “Little cash for Russia’s new Arctic development program; Ambitions are sky-high, but much hinges on private investments” – The Independent Barents Observer/ Atle Staalesen

Arctic Map

“… The new Russian Arctic program has undergone major revision since the Ministry of Economic Development was commissioned to make a draft. The Ministry first proposed to allocated 209 billion rubles (€3.1 billion) of state cash to program implementation. Later, the sum was reduced to only 12 billion rubles (€177 million). Originally, the program was to cover the period until […]

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What Jolted Russia’s Investments Is About to Fizzle Out; From pipelines to cash registers, the factors that caused last quarter’s pickup in investment are only temporary

Gas Facility file photo

(Bloomberg – bloomberg.com – Anna Andrianova – August 30, 2017) [Text with charts bloomberg.com/news/articles/2017-08-30/what-jolted-russia-s-investments-is-about-to-fizzle-out] Russian investments have spiked to a five-year high as the economy exited recession, but the factors that drove the boom are already fading. Fixed-capital investment accelerated an annual 6.3 percent in the second quarter, according to Bank of Russia estimates, the most since 2012. The jump […]

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NEWSWATCH: “Despite New U.S. Sanctions, Russian Oil Traders Say It’s Business as Usual” – Reuters

Oil Well file photo

“Russian oil companies will quickly find ways to work around tighter restrictions imposed this month by the United States on the foreign finance they can use, multiple Russian oil industry sources told Reuters. … new restrictions cut the period that U.S.-based entities can provide finance to Russian energy firms from 90 to 60 days … part of a fresh package of U.S. […]

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NEWSLINK: “The Russian-Saudi rapprochement and Iran. Would Russia draw closer to Saudi Arabia and risk losing Iran?” – Al Jazeera/ Leonid Issaev

Middle East Map

“… A number of developments in recent months have signalled a possible rapprochement between Russia and Saudi Arabia. The two countries have made a joint effort to push for further cutting of oil production to help bring up prices. Since the beginning of this year, Russian Minister of Energy Alexander Novak and his Saudi counterpart Khalid al-Falih have been seeking to conclude […]

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NEWSWATCH: “Corruption Case Puts Sechin in the Spotlight” – Carnegie Moscow Center/ Konstantin Gaaze

Igor Sechin file photo

“The high-profile trial of former Russian economy minister Alexei Ulyukayev is not playing out according to the script that most analysts had expected. The prosecution’s case increasingly relies on the testimony of one man, state oil chief Igor Sechin, making this master of Kremlin intrigue potentially politically vulnerable. The powerful reputation of the official said to be Russia’s second most […]

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