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Is A Russia-Cuba Energy Deal In The Works?

Authored by Irina Slav via OilPrice.com, The chief executive of Russian state oil major Rosneft met yesterday with Cuba’s President Raul Castro, suggesting that the two are working on an energy deal, Reuters reports. Rosneft started exporting crude oil to the Caribbean island earlier this year as its main supplier, Venezuela, struggled with a decline […]


Russia’s Former Economy Minister Sentenced To 8 Years In Jail

Last November, one week after Trump’s election and just as the “Russian collusion” narrative in the US was getting warmed up, we reported a bizarre incident in the top echelons, one in which Russia’s Economy Minister Alexey Ulyukayev was arrested on suspicion of taking a $2 million bribe in return for his ministry’s support of […]


Russia Goes All In On Arctic Oil Development

Authored by Tsvetana Paraskova via OilPrice.com, Neither sanctions nor persistently low oil prices are hindering Russia’s ambitions or plans to develop oil resources in its sections of the Arctic. In April, state-controlled oil giant Rosneft started drilling the northernmost well on the Russian Arctic shelf in the Khatangsky license area in the Laptev Sea. In […]


Oil Rally Threatened As China Reportedly Offers To Buy Aramco Stake Directly

Amid confusion over whether the massive Saudi Aramco IPO is on hold until 2019, or permanently shelved in favor of a private placement, Reuters suggests the latter is now more likely as 'sources familiar with the matter' say China is offering to buy up to 5 percent of Aramco directly (offering the Saudis the lack […]


Oil Giants At Odds As Saudi-Russian Ties Improve

Authored by Nicholas Trickett via OilPrice.com, Oil Royalties Saudi King Salman bin Abdulaziz Al Saud visited Moscow last Wednesday, the first such visit by a Saudi monarch since the Soviet Union collapsed. Two topics dominated the agenda: Syria and oil. Saudi Arabia has likely found itself in the uncomfortable position of accepting Assad’s grip on […]


Did This Oil & Gas Deal Just Change The Global Energy Balance?

Authored by Dave Forest via OilPrice.com, One of the biggest energy stories this year has been Russia’s Rosneft buying India’s Essar Oil – giving the Russian company a firm grip on one of the world’s biggest emerging oil and gas markets.  And this past week, that story got more complex. With Rosneft striking another big deal […]


Russian Central Bank Bails Out Otkritie Bank, Country’s Largest Private Lender

It’s been a while since the world had any bank solvency concerns; in fact, ever since the thrice botched bail out of Monte Paschi and the debacle that was Banco Popular, it has been largely smooth sailing. That changed moments ago, when the Russian central bank announced on Tuesday afternoon it has bailed out Otkritie […]