ABU DHABI - The world's top petroleum exporter, Saudi Arabia, said on Sunday that it would not cut output to prop up oil markets even if non-OPEC nations did so, in one of the toughest signals yet that it planned to ride out the market’s biggest slump in years.
Christmas cheer came early this year.
It looks very much as though 2015 will be a good year for the world economy, after all – and, if it is, that will be thanks to the fall in the oil price.
Mikhail Lesin has stepped down as head of major state-controlled media holding Gazprom Media, the company said on Dec. 19. Gazprom Media, whose holdings include independent radio station Ekho Moskvy, said Lesin's resignation was due to family reasons, Russian media reports said.
European Union leaders are set to urge the bloc’s energy regulator to propose a strategy to strengthen the internal market and boost security after the conflict in eastern Ukraine jeopardized supplies from Russia.
Ukraine in 2014 plans to import 19.899 billion cubic meters of natural gas, 28.9 percent less than in 2013 (27.974 billion cubic meters).
WARSAW - Polish and Ukrainian state gas pipeline operators signed an agreement on Dec. 17 to look into expanding their capacity to transport gas between the two countries, the Polish pipeline group Gaz-System said in a statement.
POLAND - Ukraine's Ukrtransgaz and Poland's GAZ-SYSTEM S.A. have signed an agreement on cooperation to prepare a feasibility study for the integration of the Polish and Ukrainian gas transport systems.
Gas supplies from Europe to Ukraine via Slovakia will continue, and their volume may even be increased, Slovak Foreign Minister Miroslav Lajcak has said.
Shale gas was supposed to be Ukraine's ticket to greater energy independence from Russia. Chevron's decision to pull the plug has smashed those hopes. The second-largest U.S. energy producer will pull out of an agreement for exploring the Oleska field in western Ukraine, a government official said this week. It was the final blow to the country's dream of becoming a big shale-gas producer after Royal Dutch Shell Plc retreated earlier this year from a similar deal in eastern provinces riven by a bloody war with pro-Russian separatists.
Russia's Gazprombank said on Dec. 15 it could demand the arrest of 5.7 billion cubic metres of natural gas in Ukraine's underground storage facilities, if Ostchem, owned by billionaire Dmytro Firtash, fails to repay $842.5 million in loans.
U.S. energy major Chevron plans to withdraw from a $10 billion shale gas deal with Kyiv, a senior Ukrainian presidential official said on Dec. 15.
Chevron has notified Ukraine's government that it intends to exit a shale gas exploration project that it inked last year, marking a blow to the war-torn country's efforts to diversify away from Russian fuel imports, according to sources with knowledge of the situation and local media reports.
The U.S. will cooperate with Ukrainian activists to restore a mansion owned by the famous aviation engineer Igor Sikorsky, a well known landmark on Yaroslaviv Street in Kyiv.
Russian natural gas flows to Ukraine have been stable since Dec. 9, when Gazprom resumed supplies after a six-month gap caused by a price dispute and unpaid debts, Ukraine's gas transport monopoly said on Dec. 15.
BELGRADE - As recently as Nov. 21, the Gazprom subsidiary tasked with building the Serbian leg of Russia's South Stream gas pipeline issued a call for mechanics, builders and welders.
It's something of a tradition in journalism to gaze into the crystal ball and give readers a view of what we believe will come with the New Year. Below are my 10 predictions for 2015. Scraping the bottom of the barrel: It's great to have lower oil prices; greater still to have oil. In the past five months, oil prices have fallen 40 percent, and that will fuel economic growth. But oil extraction and exploration aren’t getting cheaper, and prices need to be higher than below $70 a barrel to pay for them.
A young businessman accused of being a frontman for former Ukrainian president Viktor Yanukovich made $100 million or more from buying Russian gas at a preferential rate and selling it on at higher prices, according a former senior employee and a Reuters examination of official data.
Russian natural gas flows to Ukraine have been stable since Dec. 9, when Gazprom resumed supplies after a six-month gap caused by a price dispute and unpaid debts, Ukraine's gas transport monopoly said on Dec. 11.
Following a statement by EU ministers who said they wanted Russia to clarify its intentions concerning the South Stream gas pipeline, Russian gas monopoly Gazprom confirmed on Dec.9 that the decision to abandon the project is final.