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A memorandum of understanding was signed by Gazprom, Russia and Bahrain's National Oil and Gas Authority (Noga holding), following a meeting between Russia's President Vladimir Putin and Bahrain's King Hamad bin Isa al-Khalifa.
Saudi Arabia and Russia have agreed in principle to extend productions cuts until the end of March 2018, in an attempt to outweigh increasing U.S. production and effectively shrink a global glut and prop up crude prices.
Russia’s government-owned oil producer Rosneft reported a sharp drop in third-quarter net profit due to weak oil prices, while a strong cash flow means it can ride out the downtime for the time being and pursue plans to increase global exposure…
Russia and Turkey finally sign a bilateral agreement on Monday to build the TurkStream undersea gas pipeline.
In a surprise move Russia announced on state TV that it had sold a US$11 billion stake in its largest oil producer to commodity trader Glencore and Qatar’s sovereign wealth fund each getting a 19.5 per cent holding in state-run Rosneft.
Iran and Russia could potentially swap 150,000 barrels of production per day, according to Iran's Oil Minister Bijan Zanganeh.
Russia and Saudi Arabia are the world’s biggest producers of oil, pumping well in excess of 10 million barrels per day each.
Rosneft has signed a deal with a Japanese consortium including Marubeni, for joint exploration and development of hydrocarbons in an offshore Russian licenced block near Sakhalin Island.
Russia’s major oil producer Lukoil is in discussions with Tehran to reach a deal in coming months for developing two new oilfields in Iran and wants to expand its operations further in the Middle East this year, a senior executive said.
Russia's Novatek has announced that its subsidiaries OOO Arctic LNG-2 and OOO Novatek-Yurkharovneftegas has obtained new domestic license areas in the Yamal and Gydan peninsulas that boosts the firms plans to implement new LNG projects.