Category: Oil, Gas, Energy

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

Economy, Business, Investment, Trade, Europe, EU, Oil, Gas, Energy, Sanctions, Ukraine, Russo-Ukrainian War, United States, U.S.-Russian Relations
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

Economy, Business, Investment, Trade, Middle East, North Africa, Oil, Gas, Energy
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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Russia Struggling To Expand Arctic Oil Production

Arctic, Oil, Gas, Energy
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

Economy, Business, Investment, Trade, JRL NewsBlog, Oil, Gas, Energy
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?

Foreign Policy, Security, Visas, Middle East, North Africa, Oil, Gas, Energy, Sanctions, Syria, United States, U.S.-Russian Relations
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

Economy, Business, Investment, Trade, Europe, EU, JRL NewsBlog, Oil, Gas, Energy, United States, U.S.-Russian Relations
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

Economy, Business, Investment, Trade, Europe, EU, Oil, Gas, Energy
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

Europe, EU, Germany, JRL NewsBlog, Oil, Gas, Energy
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

Economy, Business, Investment, Trade, JRL NewsBlog, Oil, Gas, Energy
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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Russia Unfazed By U.S. Oil Sanctions

Economy, Business, Investment, Trade, Oil, Gas, Energy, United States, U.S.-Russian Relations
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

Economy, Business, Investment, Trade, Oil, Gas, Energy, Sanctions, United States, U.S.-Russian Relations
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

Economy, Business, Investment, Trade, Foreign Policy, Security, Visas, JRL NewsBlog, Latin America, Oil, Gas, Energy, United States, U.S.-Russian Relations, Venezuela
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, Economy, Business, Investment, Trade, Oil, Gas, Energy
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.

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Oil, Gas, Energy, Politics, Government, Protests, Elections
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?

Economy, Business, Investment, Trade, Middle East, North Africa, Oil, Gas, Energy, Saudi Arabia
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

Budget, Economy, Business, Investment, Trade, Middle East, North Africa, Oil, Gas, Energy, Saudi Arabia
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

Economy, Business, Investment, Trade, Oil, Gas, Energy, Politics, Government, Protests, Elections
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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Saudi Arabia to Plan Russia Deals, Deepening Energy Ties

Economy, Business, Investment, Trade, Middle East, North Africa, Oil, Gas, Energy, Saudi Arabia
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

Iraq, JRL NewsBlog, Oil, Gas, Energy, Turkey
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

Budget, Economy, Business, Investment, Trade, Newslinks, Oil, Gas, Energy, Politics, Government, Protests, Elections
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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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

Economy, Business, Investment, Trade, Oil, Gas, Energy
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

Economy, Business, Investment, Trade, JRL NewsBlog, Oil, Gas, Energy, Sanctions, United States, U.S.-Russian Relations
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

Iran, Middle East, North Africa, Newslinks, Oil, Gas, Energy, Saudi Arabia
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

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, JRL NewsBlog, Oil, Gas, Energy, Politics, Government, Protests, Elections
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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The Stunning Story of Russian Minister Ulyukayev’s Arrest for Bribery, Explained

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Oil, Gas, Energy, Politics, Government, Protests, Elections
Alexei Ulyukayev file photo

(Moscow Times – themoscowtimes.com – August 8, 2017) Alexei Ulyukayev, the first serving Russian minister to be arrested since the fall of the Soviet Union, will appear in court on Tuesday, after being accused of soliciting a bribe from the country’s largest oil company. The former Economic Development Minister has been under house arrest since his detention in the dead […]

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Russia Sticks to Conservative $40 Oil Forecast for 2018 Budget

Budget, Oil, Gas, Energy
Oil Well file photo

(Bloomberg – bloomberg.com – Olga Tanas – June 29, 2017) The Russian government is sticking to its conservative assumptions for oil prices as it drafts the budget for the next three years, relying mainly on domestic borrowing to finance the deficit in order to preserve its rainy-day funds. Oil prices are running above the government’s $40-a-barrel forecast, but growing supply […]

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Kennan Cable No.24: Russian Foreign Policy in the Arctic: Balancing Cooperation and Competition

Arctic, Military, NATO, Oil, Gas, Energy
Arctic Map

(Kennan Institute – wilsoncenter.org/program/kennan-institute – Stacy R. Closson, Assistant Professor, Patterson School of Diplomacy and International Commerce, University of Kentucky – June 26, 2017) Introduction The Arctic region presents a particularly interesting case study of Russian foreign policy. In a time when Russia is showing renewed aggression on three fronts – the Baltic Sea region, Syria, and Ukraine – and meddling in […]

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Rosatom: Climate’s new best friend; As Russia’s economic crisis continues to hit budgets, the country’s state nuclear corporation is going green to raise funds on the international level.

Environment, Nuclear Energy, Oil, Gas, Energy
Russian Nuclear Power Plant file photo

(opendemocracy.net – Vladimir Slivyak – June 21, 2017) Vladimir Slivyak is the co-chair of the Russian environmental NGO Ecodefense and has been taking part in UN climate change talks since 1995. The recent St Petersburg International Economic Forum was widely covered by the Russian media, partly because of the eye-catching debates in which president Vladimir Putin himself took part. In […]

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Are Russia And The Saudis Planning A Natural Gas Cartel?

Economy, Business, Investment, Trade, Middle East, North Africa, Oil, Gas, Energy, Saudi Arabia
Gas Flame file photo

(Oilprice.com – Cyril Widdershoven – June 18, 2017) The fledgling production cut strategy of OPEC (Saudi Arabia) and non-OPEC (Russia and the FSU) shows that a new strategy is needed to counter the ongoing doubts in the markets. At the same time, Russia and Saudi continue to give indications of a possible OPEC 2.0 scenario, in which a possible Russian […]

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NEWSLINK: “Rosneft chief Sechin looks beyond Russia sanctions. Putin ally wants stronger ties between oil heavyweights Russia, Saudi Arabia and US.” – Financial Times

Economy, Business, Investment, Trade, Oil, Gas, Energy, Saudi Arabia, United States, U.S.-Russian Relations
File Photo of Rosneft and Russian Flags Next to Rosneft Banner

“… while sanctions may mean Mr Sechin, Rosneft and Russia currently have a strained relationship with the US energy industry, the resolute former deputy chief of staff to Mr Putin has ambitions for a grand coalition between oil’s superpowers: Russia, Saudi Arabia and the US. … reflecting on President Donald Trump’s campaign stance on developing better relations with Russia — which has since […]

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VIDEO NEWSWATCH: “U.S. shale, trade and sanctions worry Russian Finance minister as economy gets back on track” – CNBC/ Geoff Cutmore, Alexandra Gibbs

Budget, Economy, Business, Investment, Trade, JRL NewsBlog, Oil, Gas, Energy, United States, U.S.-Russian Relations
Anton Siluanov file photo

[Scroll down for embedded video] “… Following last week’s decision by oil producers to extend output cuts by nine months to March 2018, Siluanov told CNBC that OPEC’s decisions would give opportunity [sic] for prices to stay at present levels, but that both producers and the ministry had to be on alert for any market changes. …” ‘On the one […]

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NEWSWATCH: “Russia’s economy is recovering well” – CNN

Economy, Business, Investment, Trade, JRL NewsBlog, Newslinks, Oil, Gas, Energy, Sanctions
Diverse Paper Currency, Coins, Line Graph

“[Russia] is recovering nicely from a recession and should see economic growth of 1.4% this year, according to [the IMF] … Russia is heavily dependent on oil exports and was hit hard when crude prices started to crash in 2014. Economic sanctions imposed by Western governments as punishment for Russia taking control of Ukraine’s Crimea region dealt the economy another blow. […]

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NEWSWATCH: “Russia Says Key Goal Is to Bring Global Oil Stocks Down to Five-Year Average” – Reuters

Economy, Business, Investment, Trade, JRL NewsBlog, Middle East, North Africa, Oil, Gas, Energy, Saudi Arabia
Oil Well file photo

“The main goal of [a] proposed extension of [an] oil output cuts deal is to bring the global commercial oil inventories down to 5-year average and stabilise the market, Russian Energy Minister Alexander Novak said on Tuesday. … Saudi Arabia and Russia, the world’s top two oil producers, agreed on Monday on the need to extend output cuts for a […]

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NEWSWATCH: “Despite Sanctions, Russia’s Oil Industry Powers On” – Wall Street Journal/ Bradley Olson, Jay Solomon

Economy, Business, Investment, Trade, Europe, EU, JRL NewsBlog, Oil, Gas, Energy, United States, U.S.-Russian Relations
Oil Well file photo

“Exxon Mobil … is suffering from sanctions on Russia. The same can’t be said for other big Western energy companies, or for Russia’s oil production. … sanctions, put in place by the U.S. and European Union in 2014 after Russia’s annexation of the Crimea region of Ukraine, were meant to limit Russia’s pursuit of new technology for extracting more crude oil […]

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Pavel Koshkin: “Why the revival of the commodity market is not good for the Kremlin”

Economy, Business, Investment, Trade, Oil, Gas, Energy
Oil Well file photo

Subject: Why the revival of the commodity market is not good for the Kremlin Date: Tue, 2 May 2017 From: Pavel Koshkin <pkoshkin.russia.direct@gmail.com> Title: Why the revival of the commodity market is not good for the #Kremlin Pavel Koshkin is a contributor for Forbes-#Russia magazine and the deputy editor of International Desk at RBC Daily, a Russian independent newspaper. He […]

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NEWSLINK: “ExxonMobil Just Challenged Trump to Get Serious With Russia Policy” – Fortune/ Richard Nephew, Colin Rowat

Economy, Business, Investment, Trade, Newslinks, Oil, Gas, Energy, Sanctions, United States, U.S.-Russian Relations
Portion of U.S. Treasury Department Building Facade, North Side, with Sculpture of Alexander Hamilton

“Earlier this month, news leaked that ExxonMobil was pushing the Treasury Department to grant it a sanctions waiver, which would allow the company to resume its joint venture Black Sea drilling operations with Russian oil giant Rosneft. The Treasury Department has since denied the waiver application, as waivers are granted for humanitarian and policy reasons, not for business reasons—which was […]

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NEWSLINK: “Russia and the “Resource Curse”: When the Kremlin’s Policy is Counterproductive for the Economy” – Carnegie Moscow Center/Forbes.ru/ ANDREY MOVCHAN, PAVEL KOSHKIN)

Economy, Business, Investment, Trade, Newslinks, Oil, Gas, Energy, Politics, Government, Protests, Elections
Oil Well file photo

“How can Russia overcome the “resource curse”? What countries should be an example for Moscow? What consequences can the Russian flawed economic policy lead to? Why could the authorities’ attempts to save their power by any means be dangerous for economic growth? Andrey Movchan, the director of the Economic Policy Pogram at the Carnegie Moscow Center, sheds light on these […]

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NEWSLINK: “Russia and the “Resource Curse”: When the Kremlin’s Policy is Counterproductive for the Economy” – Carnegie Moscow Center/ Forbes.ru/ ANDREY MOVCHAN, PAVEL KOSHKIN)

Economy, Business, Investment, Trade, Newslinks, Oil, Gas, Energy
Oil Well file photo

“How can Russia overcome the ‘resource curse’? What countries should be an example for Moscow? What consequences can the Russian flawed economic policy lead to? Why could the authorities’ attempts to save their power by any means be dangerous for economic growth? Andrey Movchan, the director of the Economic Policy Pogram at the Carnegie Moscow Center, sheds light on these […]

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RUSSIALINK RBTH: “Why does ExxonMobil need Russia’s Arctic region? Even though the price of extracting oil in the Arctic is very expensive, ExxonMobil still wants to strengthen its position in the Russian market.”

Arctic, Economy, Business, Investment, Trade, Newslinks, Oil, Gas, Energy, United States, U.S.-Russian Relations
Arctic Map

“The U.S. Government will not give the green light to oil major ExxonMobil Corporation and other American companies that seek to drill in areas covered by U.S. sanctions against Russia, Treasury Secretary Steven Mnuchin said on April 21. …”

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NEWSLINK: “Kremlin Stringing Kadyrov Along on Oil” – Russian and Eurasian Politics/Gordon Hahn

Chechnya, Dagestan, North Caucasus, Newslinks, Oil, Gas, Energy
Ramzan Kadyrov file photo

“Chechen President and strongman Ramzan Kadyrov recently may have finally won long-sought concessions from Moscow in oil related industries, something he has been fighting to attain from RosNeft since he came to power in the once war-torn North Caucasus republic in early 2008. In November 2009, Kadyrov and Sergei Bogdanchikov, then head of RosNeft, Russia’s state oil giant, wrested from oligarch […]

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Fiscal rule already essentially in effect, might be formally introduced in 2018 – Belousov

Budget, Economy, Business, Investment, Trade, Oil, Gas, Energy, Politics, Government, Protests, Elections
Oil Well file photo

MOSCOW. April 17 (Interfax) – The new fiscal rule that restricts Russian budget spending of additional oil and gas revenue is essentially already in effect, and it might be formally introduced in 2018, Kremlin aide Andrei Belousov said. “The fiscal rule comes down to cutting off the level of spending at an oil price of $40 per barrel. We negotiated […]

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Russia Can Wait for $70 Oil Before Re-Entering Arctic Waters

Arctic, Economy, Business, Investment, Trade, Oil, Gas, Energy
Arctic Map

(Bloomberg – bloomberg.com – Elena Mazneva, Dina Khrennikova – March 29, 2017) Russia can wait for a sustained recovery in oil prices before drilling again in Arctic waters, relying for now on less costly regions even as rival producer Norway accelerates development of its northerly fields. “We estimate production costs for the Russian Arctic offshore in the range of $70 […]

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NEWSLINK: “Are Russia’s oil wells truly in danger of drying up?” – Russia Beyond the Headlines/Vzglyad/OLGA SAMOFALOVA

Newslinks, Oil, Gas, Energy
Oil Well file photo

“Russia’s economy is heavily dependent on the energy sector. Oil and gas alone are estimated to account for 16 percent of GDP, 52 percent of the federal government’s revenue, and 70 percent of the country’s exports. Russia’s future without oil is inconceivable, and would debilitate the country tremendously. Therefore, investments in the exploration of new oil reserves are imperative, but […]

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NEWSWATCH: “Oil is the cause of Russia’s outsized corruption problem” – bne Intellinews/Ben Aris

Corruption, Law, Police, Courts, Crime, JRL NewsBlog, Oil, Gas, Energy, Politics, Government, Protests, Elections
File Photo of Kremlin Tower, St. Basil's, Red Square at Night

“#Russia was wracked by protests over the weekend when an estimated 60,000 people took to the street in more than 80 cities large and small to decry rampant corruption. Russia does have an outsized corruption problem and its #oil wealth is to blame.  … the Russian government has identified corruption as probably the biggest drag on growth and has launched a […]

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Why the Comey Hearing Was Frightening to a Russian

Cybersecurity, Economy, Business, Investment, Trade, Oil, Gas, Energy, Spies, Spy Allegations, United States, U.S.-Russian Relations
Gas Facility file photo

(Bloomberg – bloomberg.com – Leonid Bershidsky – March 21, 2017) Leonid Bershidsky is a Bloomberg View columnist. He was the founding editor of the Russian business daily Vedomosti and founded the opinion website Slon.ru. Monday’s hearing on Russia’s alleged interference in the U.S. presidential election and the alleged contacts between Donald Trump’s campaign and the Kremlin yielded inspiring news for […]

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RUSSIALINK RBTH: “Why Russia does not want to join OPEC; Russia sees oil club as a competitor, though they share tactical interests”

Economy, Business, Investment, Trade, Foreign Policy, Security, Visas, Oil, Gas, Energy
Oil Well file photo

(Russia Beyond the Headlines – rbth.ru – MARIA KUTUZOVA, SPECIAL TO RBTH) Russia is not considering joining OPEC, Russia’s Energy Minister Alexander Novak has told a U.S. conference. Speaking during the CERAWeek Oil Conference in Houston, Texas early March Novak added: “But our cooperation with the oil exporting countries has proven to be necessary and useful.” He has often spoken […]

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Russia Is Running on More Than Just the Black Stuff; The world’s largest energy producer is out of its longest recession in two decades

Economy, Business, Investment, Trade, Oil, Gas, Energy
Diverse Paper Currency, Coins, Line Graph

(Bloomberg – bloomberg.com – Anna Andrianova- March 7, 2017) [Charts here bloomberg.com/news/articles/2017-03-07/russia-is-running-on-more-than-just-the-black-stuff] Russia has exited recession, with a little help from the boys in uniform, a major statistical revision – and the global oil price. And not just any recession, but its longest in two decades. So what happened? 1. Is the economy really out of the woods? Actually, the […]

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