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OPEC+ agrees to extend output cuts for another month
- New production scheme again includes output rise exemption for Russia and Kazakhstan
OPEC+ meeting to test ability to keep market tight
- Amid concerns of group's likely decision to raise output, experts say meeting will also reflect group’s strength, coherence
Egypt, Schlumberger digitalize country’s subsurface data
- Egypt Upstream Gateway enables investors anywhere in world to see exploration and production potential of Egypt
EU signals sanctions against Russia
- Bloc's foreign policy chief says EU, Russia at crossroads; may become more cooperative or polarized
S. Arabia becomes largest oil supplier to China in 2020
- Saudi's oil exports to China amounts to approximately 1.69 million barrels per day in 2020, up 1.9% year over year
US sanctions Nord Stream 2 pipelaying vessel "Fortuna"
- US has long opposed the project, claiming it would threaten Europe's energy security
Lukoil, Gazprom to cooperate to develop 2 fields
-Companies to establish joint venture to carry out project
Revenues of oil giants decline 35.8% in 3Q20
- Royal Dutch Shell records highest year-over-year decline in revenue
OPEC+ likely to extend production cut at least 3 months
- Group is expected to keep current output levels in 1Q21 in upcoming ministerial meeting on Nov. 30 and Dec.1
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Lukoil's profit down by 73.5% in third quarter of 2020
- Company reversed loss into profit in July-September period thanks to rise in oil prices
25.11.2020
Oil
US says Russia, Iran aim to influence November election
- Iran sent 'spoofed emails' designed to intimidate voters, damage President Trump, says national intelligence director
Lukoil, KazMunayGas agree Al-Farabi project in Caspian
- Agreement defines companies' rights and obligations as future license holders for offshore project in Caspian Sea
Poland fines Gazprom $7.6 billion over Nord Stream 2
- Polish anti-monopoly authority says Gazprom acted on Nord Stream 2 without obtaining approval from authority
Russia's oil revenue down 38% between Jan-July 2020
- Russia's oil export revenue declines to $44 billion in first seven months of 2020
Iran turns down Russia’s mediation offer with US
- Iran says it will consider offers of talks with US if Washington returns to the 2015 Iran nuclear deal and lifts sanctions
Lukoil’s revenue down 40.8% in 2Q20
- Company also posts net loss of 18.7 billion rubles, equivalent to nearly $250 million, in second quarter of 2020
Russia's Gazprom signs two new gas supply deals
- Company inks deals for development of gas supply and gasification of Russia’s Rostov region, Chuvash Republic
Gazprom's export revenue down 51% in first half of 2020
- Russian company's export price for 1,000 cubic meters of natural gas fell by 13% to $82 in June compared to the previous month
10.08.2020
Natural Gas
Turkish, Russian presidents discuss regional issues
- Erdogan, Putin discuss bilateral ties, tension between Azerbaijan, Armenia, developments in conflict-ridden Libya, Syria
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Germany rejects US proposal for Russia’s return to G7
- Foreign Minister Maas opposes invitation to Putin, criticizes Russia’s role in conflict in eastern Ukraine
US share of Turkish LNG imports rises with cheap prices
- Turkey can use cheap US LNG to diversify sources, enhance negotiations and export to southern Europe, investor says
US slaps sanctions on 8 linked to Russia's Wagner Group
- Five entities, three individuals with ties to Russian businessman Yevgeniy Prigozhin sanctioned
US tells companies to 'get out' of Russian gas projects
- Companies involved in Nord Stream 2 and second line of Turk Stream projects at risk of sanctions, says top US diplomat
OPEC share of global crude output falls to 39% in 2019
- Iran and Venezuela each see a year-over-year 33% decline in crude oil output
Turkey, Russia hold 20th joint patrol in northern Syria
- Patrol conducted with participation of ground and aerial elements, says Turkey's Defense Ministry
Russia's oil revenue down 33% between Jan-May 2020
- Russia's oil export revenue declines to $33.7 billion in first five months of 2020
US oil production increases by 134% in 11 years
- Between 2009-2019, US share of world oil production jumped from 8.91% to 17.9%, almost doubling in 11 years
TurkStream gas flow to resume after annual maintenance
- This year's pre-scheduled annual shutdown is completed 12 hours ahead of schedule