VIENNA -- Russia's most powerful oil official, Igor Sechin, was due in Vienna on Nov. 25 for talks with OPEC members as the group's leader Saudi Arabia kept the market guessing about its response to flagging oil prices.
Oil ministers from member states of the Organization of Petroleum Exporting Countries (OPEC) will meet in Vienna on Thursday to try to formulate a response to the recent sharp fall in the price of crude oil and, more fundamentally, to the threat posed to group's future as oil supplies from other countries, especially from the United States, continue to rise. This is undoubtedly OPEC's most important meeting in decades, and to a large extent, decisions taken by OPEC, whether this week or in the coming months, will have a direct impact on several of Russia's key economic indicators and how the country survives Western sanctions.
MOSCOW - Russia may run into a shortage of pipeline welding machines, Vladimir Markov, a member of the management committee and head of the department for relations with Russian federation authorities, told journalists
Ukraine will buy 1 billion cubic meters (bcm) of natural gas from Russia by the end of the year, Naftogaz Chief Executive Andriy Kobolyev said on Monday, Nov. 24.
UK natural gas for next-month delivery rose for a sixth day, the longest such streak since December, amid forecasts for colder weather and continued Norwegian outages.
Moscow will seek new partners in countries that have not imposed sanctions on it if Western oil and gas companies pull out of projects with Russia, news agency RIA Novosti quoted Energy Minister Alexander Novak as saying Saturday.
Economic and political turmoil in Ukraine has already led to a significant reduction in energy consumption in the country. According to Ukraine's State Statistics Committee, from January to September, consumption of electricity fell by 5.8 percent and natural gas by 16.6 percent, compared with the same period last year.
Ukrainian President Petro Poroshenko and US Vice President Joseph Biden have discussed cooperation in the energy and defense sectors and in promoting reforms in Ukraine, Poroshenko has said.
Ukraine on Nov. 18 imported 31 million cubic meters (mcm) of natural gas through Slovakia, whereas the previous record high was registered on November 7 when gas shipments totaled 30.90 mcm, the head of the public relations department at public joint-stock company Ukrtransgaz Maksym Beliavsky has said.
Naftogaz, Ukraine's state gas company, is warning about its ability to continue supplying the country's rebellious eastern regions as losses mount from unpaid bills.
Since the beginning of the heating season, Ukraine has imported 893.9 million cubic meters (mcm) of natural gas from Europe, PJSC Ukrtransgaz's press service reported on Nov. 19.
BRUSSELS - Ukraine is ready at any moment to start negotiations with Russia with the participation of the EU on the so called "summer" package of agreements on gas supplies, which will have to replace the current "winter" package.
BRUSSELS - The presence of European observers at the gas metering stations located at the entrance of Russian gas to Ukraine could contribute to the transparency of its supplies to Europe, Head of Naftogaz Ukrainy Andriy Kobolev has stated.
BRUSSELS - Ukraine aims to avoid using an interim gas deal signed last month for as long as it can and eventually end its reliance on Russian gas through better EU connections, Naftogaz Chief Executive Andriy Kobolyev told Reuters on Nov. 18.
Leaders from Kyiv and Brussels were busy this weekend warming up their energy ties as Vladimir Putin bailed out early from the G20 summit in sunny Australia where he facedone could shoulder after another from international leaders over his actions in Ukraine.
Ukraine may transfer prepayment to Russia for the supply of the amount of gas Ukraine needs, Ukrainian Energy and Coal Industry Minister Yuriy Prodan told reporters in Kyiv on Tuesday, Nov. 18.
Ukrainian Energy Minister Yuri Prodan said on Nov. 18 Ukraine may make a pre-payment to Russia for gas before Dec. 1, reiterating that the country expected to buy up to 1.5 billion cubic metres (bcm) of gas from Russia by the end of the year.
The volume of gas kept in Ukrainian underground gas storages has fallen by around 8.4 percent since Kyiv started pumping gas on Oct. 20 for heating in colder weather, state-run gas transport monopoly Ukrtransgaz said on Nov. 17.
Ukraine has lowered natural gas reserves in its underground gas storage facilities by 8.3%, or by 1.396 million cubic meters, since the start of the 2014-2015 heating season, according to preliminary data from gas transport operator Ukrtransgaz.
Russia's financial crisis has become so severe that President Vladimir Putin found himself reassuring investors late last week that the government would provide the support needed to the world's largest oil company.