Tag: Energy

Oil producing companies of Russia supported the deal, OPEC+ and confirmed their readiness to follow its terms. This was announced by Minister of energy Alexander Novak. He also noted the important role of the President in entering into a new agreement on oil

Quarantine measures and the risks of catching the virus in crowded places has forced citizens to go to the country house. "RG" figured out how to connect the house to utilities and provide it with an electrical autonomy

Late in the evening of 12 April (outside of signing of this number in print), the energy Ministers of the OPEC countries+ will hold a new videoconferencia – apparently, for the final initialling of the text of the agreement on joint reduction in the production of "black gold". In Russia, many industry experts believe that, without this agreement, the domestic producers would have to cut the power in half. Now the barrel there is every chance that his price went back to the bar at $40, maybe even higher. So the cost of the "barrel" will help the domestic budget go a year without "holes" that need to be close from the reserve funds. However, for the oil industry, revenues from which fill about half of the Treasury, and the contract threatens to decline by 15%.

An emergency meeting of OPEC countries+ scheduled for April 9, which will be held in format of teleconference – the center of attention of market players all over the world. The stakes are high: either the States together fail to agree on the reduction of production volumes of "black gold", or the barrel will fall to record low levels, bringing the economies of producing countries, and so lying on the side of the pandemic, a new untold disaster. A lot depends on participation in the dialogue States that have not previously been aside from cutting production. According to preliminary data, the consent to capacity limitation gave Norway, Brazil, Colombia, Egypt, Mexico, and Canada and the United States. However, the participation of the two countries in remote negotiations are not officially confirmed.

OPEC members+ have agreed on a deal to reduce oil production. Its volume will be 10 million barrels per day. Another 5 million barrels per day promise to reduce the production of countries not participating in the agreement