Seven of the world’s largest oil-exporting countries agreed Sunday to maintain their baseline production levels for November, as fuel prices remain elevated amid the Iran war. The “OPEC+” group, which includes Algeria, Iraq, Kazakhstan, Kuwait, Oman, Russia and Saudi Arabia, decided to “maintain” oil production levels they agreed to in September, the Organization of the […]
Russia has begun commercial oil exports from Rosneft’s (ROSN.MM), Vostok Oil, its vast Arctic development that Moscow is counting on to lift crude production following years of delays and sanctions.
President Donald Trump and Ukraine offered differing accounts of a supposed agreement with Russia to stop attacks on energy infrastructure, as strikes on oil refineries help drive diesel prices to record levels. Trump on Monday blamed the strikes, rather than the war in Iran, for the surge in diesel prices and posted on social media […]
Japan emphasizes the importance of energy cooperation with Russia and maintains its presence in oil and gas projects on Russian territory, Russian Foreign Ministry Spokeswoman Maria Zakharova said in an interview with TASS. The diplomat noted that Tokyo maintains and reaffirms the importance of its relations and energy cooperation with Moscow, “in particular, on the […]
Ukraine says it hit oil-processing plants in Russia’s Perm region and Tatarstan overnight, resuming attacks after US envoys visited Moscow this weekend.
Russia’s oil revenue slumped to a six-month low in August, reflecting lower export prices and compounding pressure on the Kremlin’s ability to finance its war in Ukraine.
Russia last month imported some 30,000 metric tons of fuels from South Korea to tackle supply constraints caused by continued Ukrainian drone attacks on refineries.
The European Union failed to endorse a 21st sanctions package against Russia on Monday, putting the bloc at risk of undermining one of its key tools to restrict the Kremlin’s oil revenue.
Seven OPEC+ members have agreed to increase collective oil production by 188,000 bpd in August, continuing the gradual rollback of voluntary production cuts while reaffirming their commitment to maintaining market stability.
The General Staff of the Armed Forces of Ukraine has announced a strike on the Kstovo-based Lukoil-Nizhegorodnefteorgsintez oil refinery, one of the fuel suppliers for the Russian army. “On the night of July 2, as part of reducing the military-economic potential of Russia, units of the Ukrainian Defense Forces struck the Lukoil-Nizhegorodnefteorgsintez oil refinery in […]