Russian Oil Minister: Natural Gas Could Face Price ‘Crisis’
A global glut of natural gas could result in a sharp drop in prices.
A global glut of natural gas could result in a sharp drop in prices.
Russia and Saudi Arabia have agreed to a basic framework for extending the production-cut agreement.
Saudi Arabia is pushing for an extension of the OPEC-led production-cut agreement by an additional nine months until the end of 2018.
During a state visit by Russian President Vladimir Putin to Iran, the two countries announced preliminary energy agreements worth $30 billion.
Contracts between Egypt and Russia for the Dabaa nuclear plant should be finalized by the end of 2017.
The Russian Energy Minister, Alexander Novak, said it was too early to make a decision on extending production cuts past next March.
Russian and Saudi ministers will meet early next month to discuss global oil markets and the future of the production-cut agreement.
Russia maintained its position as the top crude oil exporter to China for the seventh month in a row
The Russian oil giant, Rosneft, is set to invest $1.8 billion in the primary oil pipeline of the Kurdistan Regional Government (KRG) for a 60% stake.
The industrial zone agreement, signed between Cairo and Moscow in February 2016, was designed to offer favorable treatment and benefit Russian resident companies, such as carmakers, petrochemical enterprises, ener ...