Tag: ALEXANDER NOVAK

Russia forecasts an increase in gas exports

Russia will increase its pipeline gas exports by 11% and liquefied natural gas (LNG) exports by 14% due to the commissioning of new LNG production plants and an increase in volumes supplied to Asia, primarily to China, predicted Russian Deputy Prime Minister Alexander Novak

Russia sees oil and fuel exports down by more than 300,000 bpd in November

Russia’s energy ministry said it expects the country’s exports of crude oil and petroleum products to fall in November by more than 300,000 barrels per day (bpd), compared to the average level in May-June

Russia’s Novak dismisses gas OPEC idea

Russian Deputy Prime Minister Alexander Novak said in an interview that there were no plans to create an international natural gas cartel similar to the Organization of the Petroleum Exporting Countries

Russia temporarily bans fuel exports to most countries in response to shortages

Russia has temporarily banned exports of gasoline and diesel to all countries outside a circle of four ex-Soviet states with immediate effect in order to stabilise the domestic market, the government said

The OPEC and allies led by Russia, a group known as OPEC+, agreed to stick to a policy from July of phasing out record output cuts by adding 400,000 barrels per day (bpd) a month to the market

Russia struggles to raise oil output despite price rally

Russian oil production has declined so far in June from average levels in May despite a price rally in oil market and OPEC+ output cuts easing

Global oil deficit seen at 1mn bpd, Russia’s Novak says

The global oil deficit is now seen at about 1 million barrels per day, Russia’s deputy prime minister Alexander Novak said, days before the OPEC+ top negotiators are to meet

Russia’s Novak says oil prices of $62-$66/bbl reflect present situation

Russian Deputy Prime Minister Alexander Novak said in an interview published on Monday that the oil prices of $62-$66 per barrel reflect the current market

OPEC+ sticks to plan to ease oil output cuts from May 1

The panel decided to stick to policies broadly agreed at a previous April 1 meeting of OPEC+, Russian Deputy Prime Minister Alexander Novak said after the talks

Russia’s Novak says OPEC+ countries will gradually restore oil output in May-July

Russian Deputy Prime Minister Alexander Novak added that Russia’s energy ministry was ready to support export curbs on oil products in order to bolster the domestic market