Gascade starts reverse supplies over Yamal-Europe gas line again
Gas supplies over the Yamal-Europe gas pipeline are implemented again in the reverse direction from Germany to Poland since 07.00 am European time, according to data of the German gas transmission …
Global oil consumption to fall by $1 trillion in 2020 due to pandemic
Consumers’ oil expenses will drop by $1 trillion in 2020 to $2.5 trillion as a result of the pandemic-related quarantine measures globally, the International Energy Agency (IEA) wrote in its report …
Gas transit from Russia to Europe via Poland stopped
Gas transit via the Yamal-Europe pipeline from Russia through Belarus and Poland to Germany has been brought down to zero on Tuesday. According to the results of the previous auction, the Polish …
Oil demand recovered by 20% in May against April
Oil demand remains at a low level but the demand in May increased by 20% against April, Russian Energy Minister Alexander Novak said on Monday, cited by the Ministry.
"Despite the grave situation, …
Putin, Iraqi PM discuss Syria, oil market stabilization
Russian President Vladimir Putin had a phone conversation with Iraqi Prime Minister Mustafa al-Kadhimi to discuss interaction to stabilize global hydrocarbon market, the Kremlin press service reported …
Brent crude oil surpasses $34 per barrel first time since April 9, 2020
The price of futures contract for Brent crude oil with July delivery on London’s ICE rose by 4.9% and reached $34.09 per barrel.
The last time the price of oil of this grade was above $34 per …
German regulator refuses to exempt Nord Stream 2 from EU Gas Directive
The Federal Network Agency of Germany refused Nord Stream 2 AG in withdrawing the Nord Stream 2 project from the rules of the updated EU Gas Directive, the regulator said on Friday.
Meeting of OPEC+ ministerial monitoring committee to be held on June 8
The Joint Ministerial Monitoring Committee (JMMC) meeting will be held on June 8, 2020, most probably in a video format, while ministerial meetings of OPEC and non-OPEC states will be held on June 9 …
Oil production in US may drop from 2 to 3 mln barrels/day
Crude oil production in the United States may contract by 2-3 mln barrels per day, Deputy Energy Minister of Russia Pavel Sorokin said in an online interview with the Roscongress Foundation.
"We see …
Russia to cut crude production by 10% within OPEC+ in 2020
Russia’s crude oil production will go down by around 10% in 2020 due to OPEC+ restrictions compared with 2019 when it reached the record 560.2 mln tonnes, Energy Minister Alexander Novak said at …