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Russia's finance ministry is insisting that the moratorium on oil and gas extraction support is extended for the Arctic region, while Rosneft pushes through support for its Arctic project Vostok Oil.
Russia has kept is oil and gas production capped in keeping with the terms of the OPEC+ deal, but the production of LNG has soared in the last year, as the Kremlin hopes to turn gas into a commodity that can be sold anywhere.
Q2 profit significantly above market average expectation mainly thanks to hefty deferred tax gain recorded by oil refiner.
Russia's natural gas giant and pipeline exports monopolist Gazprom could SPO an additional 3.7% of its quasi-treasury shares in the next few months to cash in again on a dramatic rally in the company’s share price in July
Russian oil and gas production climbed further in the first seven months of 2019, despite cutbacks relating to the dirty oil crisis and a recent dip in gas exports.
London-traded oil company Trident Resources recently won a contest for exploration rights to more than 9,500 square km of acreage in the Black Sea, although the government has suggested it may cancel the award.