Today RIYADH :Russian President Vladimir Putin landed in Saudi Arabia on Wednesday for hastily arranged talks with Crown Prince Mohammed bin Salman on oil, Gaza and Ukraine. It was not immediately clear what Putin, who has rarely left Russia since the start of the Ukraine war, intends to raise specifically about oil or geopolitics in a face-to-face meeting with the crown
Nasdaq MOSCOW – Russian President Vladimir Putin has ordered the government to provide state funds to ensure a smooth heating season, including the introduction of regulated prices for fuel oil supplied for household heating in some regions, the Kremlin said on Thursday. Russia has been tackling shortages and high fuel prices in recent month. Fuel oil is in high demand
Oil Price In his latest speech, Vladimir Putin blamed Ukraine and the West for “provoking” Russia into invading Ukraine. Putin also issued a new warning to the West by suspending Russia’s participation in a major nuclear arms control treaty with the U.S. In his two-hour-long state of the nation address today, Putin accused the West and Ukraine of starting the war
CNBC Russia’s announcement of an oil export ban on countries that abide by a G-7 price cap is the latest sign that we’ve entered a new era for global energy markets, according to analysts. But they also note it’s unlikely to have a short-term impact on oil prices, with markets taking their cues from data and concrete actions rather than words.
Yahoo Finance MOSCOW – Russia, the world’s biggest exporter of energy, could cut oil production and will refuse to sell oil to any country that imposes the West’s “stupid” price cap on Russian oil, President Vladimir Putin said on Friday. The Group of Seven major powers, the European Union and Australia last week agreed a $60 per barrel price
World Oil (Bloomberg) — Decisions of the Organization of Petroleum Exporting Countries and its allies are designed to stabilize global energy markets and are not targeted against anyone, Russian President Vladimir Putin insisted. The OPEC+ alliance, co-chaired by Russia and Saudi Arabia, last week agreed to cut its production by 2 million barrels a day, the biggest reduction since
World Oil (Bloomberg) — Exxon Mobil Corp. took the first step toward filing a lawsuit against Russia after Vladimir Putin blocked the oil major from exiting its only remaining operation in the country. Exxon has been trying to exit the Sakhalin-1 project in the country’s Far East since March but was stalled by a presidential decree earlier this
Reuters President Vladimir Putin warned the West on Friday that continued sanctions against Russia over the war in Ukraine risked triggering catastrophic energy price rises for consumers around the world. Putin, who casts the sanctions imposed on Russia as a declaration of economic war, said that Western calls to reduce reliance on Russian energy had made global markets “feverish” with
CNBC Hungarian Foreign Minister Peter Szijjarto has ruled out the prospect of a Russian gas ban in the European Union’s next package of sanctions, saying it would be “impossible.” Landlocked Hungary is overwhelmingly dependent on Russian hydrocarbons. Szijjarto’s comments come as President Vladimir Putin says he believes the West will not be able to wean itself off Russian oil and
World Oil (Bloomberg) — The state-run oil champion led by a close ally of President Vladimir Putin has seen the largest drop in production since the invasion of Ukraine. Rosneft PJSC, whose Chief Executive Officer Igor Sechin has been part of Putin’s inner circle for decades, along with its subsidiaries account for about two-thirds of Russia’s production cuts since the
World Oil (Bloomberg) — European Union energy ministers tried to project a united front Monday in rejecting Russia’s demands to buy gas in rubles as the bloc tries to prevent Vladimir Putin from sowing divisions in the bloc. Despite signs that at least one member state, Hungary, may accede to Moscow’s ruble demands, ministers said the EU will find a
Nasdaq President Vladimir Putin said on Thursday that Moscow will work to re-direct its energy eastward as European countries try to reduce reliance on Russian exports, adding that Europe will not be able to completely shun Russian gas immediately. Russia has been forging closer ties with Asia and China, the world’s top energy consumer, trying to diversify away deliveries from
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