Oil, Russia

Novak: World oil stocks exceed 5-year rates by 280-300 mln barrels

The world oil stocks currently exceed the average 5-year values ​​by 280-300 million barrels, said the head of the Russian Ministry of Energy Alexander Novak in an interview with the Russia 24.

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Irkutsk Oil Company to spend 100 mln rubles for development of the Irkutsk region

The Irkutsk Oil Company will allocate more than 100 million rubles for the development of the Irkutsk region by the end of this year.

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The stake of Arctic in the total volume of oil extraction in Russia may grow to 22% by 2035

The stake of oil extraction in the Arctic zone of Russia in the total volume of oil extraction in Russia will grow from 17% to 22% by 2035, the Minister of Energy, A. Novak, said.

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The Ministry of Finance does not exclude the possibility of abolishing the export duty on oil.

The Ministry of Finance considers the abolition of the export duty on oil to be correct, but is ready to discuss this only from 2019-2020, the head of the department of tax and customs policy of th

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The Ergin becomes more expensive out of the auction.

Rosneft and Gazpromneft will compete for the field with a price tag of at least 7 billion roubles.

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Russian companies agree with Iran on development of large hydrocarbon deposits

Russian companies have reached agreements on the development of large hydrocarbon fields in Iran.

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Gazpromneft increases oil production at the Badra field to 80 thousand barrels per day

Gazpromneft Badra, a subsidiary of Gazpromneft, has increased the daily production at the Badra field in Iraq to 80 thosuand barrels, Gazpromneft reports.

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Repsol may create a joint venture with Gazpromneft in the Khanty-Mansiysk autonomous district

The Spanish company Repsol may establish a joint venture with Gazpromneft to develop oil fields in the Khanty-Mansiysk autonomous district.

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Lukoil considers selling a third of its petrol stations in Russia.

LUKOIL is considering the possibility of selling up to 30% of its petrol stations in Russia due to a drop in the profitability of the business.

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