Production and Refining, EU Commission

Alexander Novak: Russia to continue working on reduction of dependence of Fuel and Energy Sector’s industries on foreign technologies

In 2018, 54 fields were launched in the oil industry, production in Eastern Siberia and the Far East grew at a faster pace. This was stated by the Russian Energy Minister Alexander Novak.

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The Minister of Economy Bruno Le Maire: France is ready to reconsider the financing scheme for the Nord Stream-2 project.

Total as a key investor into the Russian economy and will facilitate the withdrawal of Russian gas from the Yamal-LNG field to the European market.

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Interview with Alexander Novak: We are observing gradual reduction of world oil reserves

The Russian Energy Minister Alexander Novak in his interview to the Oil and Gas Vertical magazine summed up the results of agreement of the OPEC and non-OPEC countries on reduction of production an

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European Commission approves creation of joint venture of Sibur’s subsidiary with TechnipFMC and Linde EPC

The European Commission has approved the creation of a joint venture between NIPIgazpererabotka (part of the Sibur Group), the British company TechnipFMC and the German company Linde in the field o

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"Let them try". How "Gazprom" lost to "Naftogaz" in court and what happens now.

On May 31st the Stockholm Arbitration took a decision in the protracted gas dispute between Gazprom and Naftogaz and decided that the rule "take or pay" was illegal.

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Ilham Aliyev: Azerbaijan becomes the guarantor of energy security in the region.

On Wednesday the President of Azerbaijan Ilham Aliyev and the First Lady Mehriban Aliyeva participated in the opening of the XXIV International Exhibition and Conference "Caspian Oil and Gas-2

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Kazakhstan may change its oil production obligations because of Kashagan.

Kazakhstan may adjust its obligations to reduce oil production this autumn due to the planned growth in production at the Kashagan field, the country's minister of energy Kanat Bozumbayev state

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In the depths of European sanctions.

The Head of the Fuel and Energy Complex Group Yuriy Barsukov analyzes the EU terminology details.
One of the most important rules of his profession - reading not only the beginning and the end of any paper, but sometimes looking into the middle of it. Then suddenly it turns out that even two years after the imposition of sanctions by EU countries against Russian oil industry has very different understandings of what it means in practice.

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European Commission Vice-President M.Sefcovic studies the letter of Alekperov, regarding Romanian oil refinery

The European Commission Vice-President M.Sefcovic received a letter from the head of LUKOIL V.Alekperov, concerning the situation involving the Romanian oil refinery of the company. But there is no decision on this question so far, the source, close to the European Union’s management stated.
Earlier, vice-president of LUKOIL for oil processing T.Muller asserted LUKOIL relies on the support of the EU Commission regarding the Romanian oil refinery. According to him, Alekperov sent an appropriate letter to Sefcovic.
“I can confirm that vice-president Sefcovic has got a letter from LUKOIL today and studies it. I have no other comments so far,” a companion of the agency stated.

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The EU trembles and softens the sanctions against Russia.

On Friday the European Union approved an amendment to the sanctions against Russian banks, according these banks will be able to attract long-term financing (for a period exceeding 30 days) from the EU banks, the News Economics website writes.
Obtaining the long-term loans is possible "if in order to attract such funding is to maintain the solvency and liquidity of legal entities registered in the EU and owned more than 50% by Russian banks", included in the sanctions list, the Official Journal of the European Union informs.
The amendment concerns Sberbank, VTB, "Gazprombank", "Vnesheconombank" and "Russian Agricultural Bank".

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