Tag: Russia
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Dependence on Russia May Endanger Uzbekistan’s Energy Independence (Article)
Read in this article Shavkat Mirziyoyev’s re-election marks a critical turning point for Uzbekistan’s energy sector. Conventional oil production peaked in the early 2000s. The main export destinations for energy commodities in Uzbekistan are China, Russia and Kazakhstan. Uzbekistan is among the world’s largest producers of natural gas. Uzbekistan annually produces about 60 billion cubic…
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OPEC + production increases marginally in June .. and Russia cuts 440 thousand barrels per day (survey)
OPEC + oil production rose marginally last June, despite the decline in Russian production as part of Moscow’s pledges to cut production. A recent survey showed that the OPEC + alliance kept its crude oil production almost unchanged in June, amid anticipation of production levels in July, with the implementation of large additional cuts by…
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OPEC + production declines in May .. and Russia cuts 410 thousand barrels per day (survey)
OPEC + oil production declined, during May (2023), by about 670 thousand barrels per day on a monthly basis, supported by the voluntary cuts announced by Saudi Arabia, Russia and a number of coalition countries last April, which raised production cuts to 3.6 million barrels per day. A recent survey showed that OPEC and its…
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Will the largest deal in the history of the Iranian oil industry with Russia become a binding agreement? (article)
Read in this article These agreements are expected to enhance Iran’s energy infrastructure and production capabilities Persistent technological limitations and hurdles make it difficult to implement these ambitions Memorandums of understanding between Iran and Russia provide a platform for improved cooperation in oil exploration and production It is believed that the partnership between Russia and…
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The world’s largest oilfield services company is shrinking its business in Russia
The American company (SLB), the largest oilfield services company in the world, has begun to reduce its activity in Russia after more than a year has passed since the Russian-Ukrainian war, and the imposition of multiple Western sanctions packages. And it seems that the measures to reduce its operations and activity in Russia began since…
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The alliance of Saudi Arabia and Russia prevents the price of oil from falling (article)
Read in this article • The energy crisis and the war in Ukraine led Europe to focus on diversifying energy sources • Oil prices in the global market have risen to a level not seen since 2008 • The increase in energy prices was the main factor for the rise in inflation rates in the…
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The oil and gas swap deal between Russia and Iran reaches the stage of “technical details”
The oil and gas exchange deal between Russia and Iran is witnessing new developments, as Deputy Prime Minister Alexander Novak announced that representatives of the two countries are discussing technical details about the deal, including Tehran’s proposal to transfer supplies. The Russian official described the deal as a “promising project”, as Iran is seeking by…
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Russia is considering adopting Brent crude prices instead of Urals in accounting for oil companies
Russia is currently studying the adoption of Brent crude prices in the tax accounting of oil-producing companies, in an attempt to compensate for part of the losses incurred due to the European and American sanctions imposed on Russian oil. The Russian government is moving to adopt a new system in imposing taxes on oil producers…
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The American “SLB” strengthens its presence in Russia after the exit of competing companies
At a time when international energy companies rushed to exit Russia after the outbreak of the Ukrainian war, the American company SLB began to acquire contracts for services and equipment from these companies and established its presence in Moscow. The company – which is based in the US state of Texas and abandoned the name…
