Presidential aide says Russia needs to restrict oil export, not freeze production
Russia needs to restrict oil export, not freeze oil production like the OPEC countries, Presidential aide Sergey Glazyev told TASS. “The government announced that it will stimulate small and medium business in the mining industry, using the Canadian experience. And if we freeze everything, how will we open new production in Russia? It seems to me that for Russia, as a country that not only exports oil but uses it, it would be...
Russia’s Rosneft oil major shows positive dynamics of production growth
Hydrocarbons production grew 0.7% year-on-year to 5.2 mln barrels of oil equivalent (boe) in the first half of 2016, Russian oil major Rosneft reported on Thursday. Growth of hydrocarbons production by 0.2% quarterly and 0.7% on an annualized basis was particularly supported by the increase in operation drilling by 16% on a quarterly basis and by 48% annually, the company said. “A new record of daily drilling rate equal to...
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