Latest news
Russia approves energy sector tax increases in 2016
Russia's government has approved plans to raise its mineral extraction tax (MET) on energy giant Gazprom and keep unchanged an oil export duty calculation mechanism next year, as declared by First Deputy Prime Minister Igor Shuvalov on Thursday.
read more... 09/10/2015
Daily: Crude oil prices soar at three-month high on market oracle PIRA bullish forecast
Crude oil prices hiked to their highest level in three month on Thursday after PIRA Energy Group forecasted that oil prices would increase to $75 in 2017, adding to previous gains curbed after a rise in Chinese stockpiles and worries about Russia's military involvement in Syria. PIRA Energy Group, the oil market oracle, said it sees crude prices at $70 per barrel by the end of 2016 and $75 a barrel in 2017. Brent crude oil futures rose by $1.72 to close at $53.05 a barrel, while U.S. crude futures edged $1.62 higher to settle at $49.43 a barrel.
read more... 09/10/2015
The discounted gas price for Ukraine in Q4 will be approximately $230
Russian Energy Minister Alexander Novak made known on Saturday that the reduced price Ukraine would pay for Russian gas supplies in the fourth quarter would be approximately $230 per thousand cubic metres, plus or minus $2 or $3.
read more... 05/10/2015
Shah Deniz field produced 64 billion cubic meters of gas during first phase of development
Energy-rich Azerbaijan extracted from its Shah Deniz field 64 billion cubic meters of gas from the commencing date of this project to September 1, 2015, according to the First Vice President of State Oil Company of Azerbaijan Republic (SOCAR) in Geology Geophysics & Field Development Issues, Khoshbakht Yusifzade.
read more... 29/09/2015
Lithuania on course to complete electricity connection to Poland
Lithuania was on track to launch its first electricity link to bordering Poland by January 1, a move that would enhance its energy security and make it a regional hub, as stated by the country's energy minister on Thursday.
read more... 25/09/2015