Contents tagged with Oil

  • The US made the first delivery of oil to Poland

    The first American oil tanker arrived in the Polish port of Gdansk. The vessel, Saint Helen delivered almost 80,000 tons of "black gold" from Texas, Polish Radio reports.

    The Vice President of the Lotos Group, Yaroslav Kawula declared that so far, this is a one-time delivery, but "it is possible to sign urgent contracts to diversify the oil sector."

    "We want to show that we can process raw oil at any time," he said.

    The President of the Management Board of the Lotos Group, Marcin Jastrzebski, …

  • India walks away from buying two oil deposits from Russia’s oil giant Rosneft

    India refused Rosneft's offer to buy five additional oilfields in the Vankor cluster (Krasnoyarsk Krai, Russia), reported Indian newspaper The Economic Times citing sources familiar with the negotiations.

    "We do not want to put all of our eggs in one basket. Russia can continue to offer oil deposits, but we cannot accept all proposals," the source said. "We have invested enough in Russia, so, there is no need to close this deal urgently. There are other attractive opportunities for investment …

  • Putin: Russian oil will be supplied to Belarus only if its exports take place through Russian ports

    "Belarusian refineries process our raw oil. There is no other oil there and it is unlikely to appear, that is why we need to align their receiving our oil with the requirement of using our infrastructure," as said by President Vladimir Putin at a meeting on transport infrastructure development for the northwest Russia which was held on Wednesday, August 16th, in Kaliningrad, as reported by RIA Novosti.

    Belarus has two oil refineries in Mozyr and Novopolotsk. Russia agreed to supply 24 million …

  • Media: 'Putin’s chef' profits from the war in Syria by arranging an oil business

    According to an agreement with the Syrian government, the Evro Polis Company connected to businessman Yevgeny Prigozhin, frees up oil facilities in Syria and receives income from the sale of oil, Fontanka online reports.

    According to the news portal, in December 2016, Evro Polis signed a memorandum with Syria. In five years, it must recover oil facilities from ISIS and protect them. For this, it will receive twenty-five percent of all oil and gas extracted there. In addition, the Syrian …

  • Belarusian Deputy Prime Minister: Belarus' dependence on Russian gas and oil is 'dangerous'

    “We have a dangerous dependence, even if it is with a friendly country. We receive 95% of our energy resources from there,” Semashko said to journalists in Minsk on Tuesday.

    He stressed that the Republic is building BelAES (the nuclear power plant) to avoid this dependence.

    Semashko expressed his confidence that there would be a significant increase in prices for natural gas in the near future. Before this happens, the nuclear power plant will be operational and Belarus will be insured …

  • Belarus files lawsuit against Russia over oil and gas dispute

    Belarusian authorities have filed a lawsuit against Russia due to the reduction in oil supplies to the country.

    "The controversy was initially on gas only, but they [Russia]  began to cut oil supplies. Of course, we appealed to the court to uphold our agreements," Alexander Lukashenko said on Friday, February 3.

    The Belarusian leader has regarded the oil and gas dispute between Moscow and Minsk as a mockery. "Some kind of a foot-dragging has already begun. Yesterday they agreed to work …

  • Lukashenko orders that a replacement for Russian oil be found

    The President of Belarus, Alexander Lukashenko, ordered the state to replace Russian oil supplies with alternate suppliers, as was reported on Friday, 20 January, by BelTa.

    It is noted that the order was given against the background of a reduction in Russian oil supplies to Belarus.

    “There is no catastrophe, but reduced Russian oil supplies should be replaced with alternative sources,” the head of the country stated. According to him, new routes have been not only worked out, but also tested. …

  • Ukraine began to receive Azerbaijani oil

    In late December, the Kremenchuk Oil Refinery Ukrtatnafta received its first cargo of Azeri Light crude oil with a volume of 80 thousand tons, according to its website. “In general, Ukrtatnafta plans to receive a total 1.3 million tons of oil in 2017,” the report stated.

    According to Interfax-Ukraine, the first cargo of Azeri Light crude was received by transshipment in Odessa via railway transport. After replacing Urals oil with Azeri Light in the Odessa-Kremenchuk oil pipeline, the raw oil …

  • Russia's Rosneft will control 12 percent of the oil market in Germany

    The Russian state-owned company Rosneft starting on January 1st, 2017, will increase the portion of its shares in three German refineries: Bayernoil (from 12.5 percent to 25 percent), PCK Schwedt (from 35.4 to 54.1 percent) and Miro Karlsruhe (from 12 to 24 percent). Rosneft received this possibility as a result of the completion of the agreement on restructuring a joint venture with the refinery and petrochemical company Ruhr Oel GmbH (ROG) in Germany, that was previously signed with the BP …

  • Russia plans to cut oil production by up to 300,000 barrels per day

    Russia plans to reduce oil production to 10.947 million barrels per day, based on its agreement with OPEC countries, the Russian Minister of Energy, Alexander Novak stated, Interfax reported.

    According to CDU TEK, Russia was extracting 11.247 million barrels per day in October. "10.947 million barrels per day is the end result of the reduction plan," Novak said, referring to data from CDU TEK.

    Novak also discussed the pace of reduction of oil production by Russia. By March, production should …