Supplies along Northern Sea Route will grow after Suez Canal situation
The loading volume of the Northern Sea Route has great potential for expansion after the blocking of the Suez Canal, used to pass up to 12% of the world cargo traffic, the Russian Energy Ministry told …
Brent crude surpasses $65 per barrel first time since January 2020
The price of futures contracts of Brent crude oil for April 2021 on London’s ICE went up by 1.2%, reaching $65.12 per barrel, according to the trading data as of 04:01 Moscow time.
This is the …
US to continue help reduce dependence on Russian gas
US Ambassador to Greece Geoffrey Pyatt during the Athens Energy Dialogues forum has stated that his country will continue to support major infrastructure projects that will help Europe reduce …
Russia’s Antimonopoly Service says oil products prices will be below inflation
The Federal Antimonopoly Service (FAS) of Russia currently sees no prerequisites for a rise in prices for oil products above inflation, according to the department’s press release.
"FAS Russia …
Brent crude exceeds $57 first time since Feb 24
The price of futures contracts of Brent crude oil for March 2021 on London’s ICE went up by 0.42% compared to the previous closing, reaching $57.07 per barrel, according to the trading data, …
Gazprom, Turkey discuss using TurkStream for gas supplies to Europe
Russian energy giant Gazprom and its Turkish partners are currently in talks on how the TurkStream pipeline can be used for deliveries to the European market, said Elena Burmistrova, the chief …
World Bank expects oil price to increase to $44 per barrel in 2021, $50 in 2022
The World Bank expects the oil price to rise to $44 per barrel in 2021 and to $50 in 2022, the organization said in its latest Russia Economic Report on Wednesday.
"Oil prices are forecast to …
Arab Energy Conference postponed until 2023
The Arab Energy Conference, which was supposed to take place in 2022, has been postponed to 2023, Minister of Energy of Algeria, President of the OPEC conference Abdelmadjid Attar said at the 105th …
Pandemic causes dizzying drop in global oil demand
An extremely difficult situation has developed in the global economy and in the oil markets due to the pandemic, Minister of Energy of Algeria, President of the OPEC conference Abdelmadjid Attar said …
OPEC+ talks on oil output cuts postponed to December 3
OPEC+ ministerial meeting scheduled for December 1 has been postponed to December 3, according to a letter for the member-states’ delegates obtained by TASS.
Two sources at the oil cartel …