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Economy forecast to shrink by 0.9%.
Donald Trump said on April 2 that Russia and Saudi Arabia would be cutting their output, instead of continuing with a supply war that could result in hundreds of oil companies going out of business. The Kremlin denied his claim.
Economically besieged Islamic Republic’s year looks set to hinge on whether tormentor-in-chief is re-elected.
Largest Turkish refiner Tupras ‘has cut runs at Izmir refinery by 50% due to pandemic impact on fuel demand’
Fitch Ratings has cut its short and medium-term oil and natural gas price assumptions in expectation of very large market oversupply in 2020.
With the predominance of oil and gas in Russia’s economy the pipe-making business is a big one. ChelPipe is the market leader and is now considering an IPO.
Kosovo’s new Prime Minister Albin Kurti had pledged to stop the 500MW power plant that would have been Kosovo’s largest ever energy investment.
Ukraine's new cabinet offers voluntary tariff cuts for renewables, but ready to go to court in disputes
Ukraine’s new cabinet shocked investors by threatening to cut generous “green tariff” arrangements retroactively for renewable energy developers. This may prompt a raft of lawsuits from irate investors.
The Russian market is facing volatility, with large fiscal reserves and high real rates coming back into investors' focus, but only after the oil- and corona-related dust settles.
Country’s budget based on oil at $50-$55 per barrel compared to $31 caused by failure of OPEC+ talks. Situation could eat up government reserves. Some Kazakhs enter into panic buying of dollars. Central bank hikes key rate 275bp.
Shares in tourism firms fall 10% as market jitters grow over coronavirus impact on Turkey’s big tourism industry, even though country claims to have no recorded COVID-19 infections.
The value of the Russia ruble plummeted in the evening of March 8 as trading began, following the price of oil into the chasm created by an oil price war that has broken out between Russia and Saudi Arabia.
Europe wants to be carbon neutral by 2050, and is about to introduce a carbon import duty that is already forcing Russia’s biggest companies to speed up their efforts to go green.
Talks between OPEC and Russia on a new production cut collapsed on March 6, sending oil prices tumbling to under $50. The Kremlin says it is “comfortable” with the current price and has started a price war designed to undermine the US.
When Russia refused to back Saudi Arabia’s proposal for a deeper oil production cut in Vienna on March 6, it effectively fired the first shot in what looks like being an expensive and prolonged oil price war.
OPEC+ knew they had to surprise the market, and that is what they did. Although the surprise was failing to come to a deal, rather than cutting more than expected. $30 oil here we come...
Albania is almost entirely dependent on hydropower for its electricity, and thus the amount of power produced can vary widely from one season to another depending on the weather.
Foreign investors are up in arms following the release of the Ukrainian government’s proposed changes to the generous green energy tariffs introduced by former president Petro Poroshenko.
A court in Ukraine court has ruled to prohibit the State Property Fund (SPF) that owns 78.3% of the shares of power generator Centrenergo from dismissing any member of its management board, in move believed to be organised by oligarch Kolomoisky
Lawyers and environmental NGOs say three plants are burning waste at amounts that are 10,000 times above those allowed by the EU.
Ukraine appoints new top management of power generation major Centrenergo, Kolomoisky physically bars them from office
The Ukrainian government has appointed a new top manager for power generation company Centrenergo but protestors reportedly connected to oligarch Ihor Kolomoisky barred their entry to the company's offices.
Following the rally in Russian utility universe, putting the sector ahead of every other Russian equity segment in year-to-date terms for 2020, VTB Capital sees more place for upside for certain names coming from expected profitability gains.
Russia's leading petrochemical plant Sibur saw revenues down in 2019, but profits up and plans on track for long term growth
Russia’s leading petrochemical producer won’t hold its highly anticipated IPO this year, or even next year, but despite tough market conditions this year the outlook for the company remains bright