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News // Economy

Russian oil firms strong enough to withstand $15 billion extra taxes

Russian oil companies currently generate a lot of cash, so they will be able to shoulder a cumulative $14.75 bln in extra taxes.

04 September 2018 , 16:07Tsvetana ParaskovaNeftegaz.RU3870

Iran and Iraq dump dollar in bilateral trade

Iran and Iraq dumped dollar for rial, dinar and euro in their mutual financial transactions.

03 September 2018 , 10:21Neftegaz.RU4000

Agreement on compensations for Belarus after Russian oil industry taxation adjustments

Minsk and Moscow have agreed to work out compensating mechanisms for the Belarusian economy.

28 August 2018 , 12:10Neftegaz.RU4080

Russian oil industry taxation adjustments to cost Belarus Br600m in 2019

Taxation adjustments in the Russian oil industry will cost Belarus' state budget Br600 million in lost revenues in 2019.

13 August 2018 , 10:20Neftegaz.RU3960

Volatile world means volatile oil prices, Russia's energy minister says

Volatile crude oil prices reflect a volatile geopolitical climate as well as concerns about global trade tensions.

17 July 2018 , 12:10Daniel J. GraeberNeftegaz.RU4040

Russia's trade surplus jumps 42.6 % in 1st 5 months

Russia's trade surplus surged 42.6 % year-on-year to $81.4 billion U.S. dollars.

10 July 2018 , 10:11Neftegaz.RU4100

No time to relax on the economy, Russia says

«I would like to note that in the 1st 5 months of this year the macro-economic situation has been generally stable,» Russian President Vladimir Putin said at a Kremlin meeting. «Positive trends are being posted in key areas.»

09 July 2018 , 00:05Daniel J. GraeberNeftegaz.RU3180

Russian Central Bank leaves rates in place

The economic risk from the volatility in crude oil prices is only moderate, the Central Bank of Russia said on June 15 after leaving its key lending rate unchanged.

18 June 2018 , 00:02Daniel J. GraeberNeftegaz.RU2720

Feature: Russia nears finalizing oil tax reform by mid-2020s

After years of discussion, Russian authorities seem close to starting new oil tax reform as soon as next year that will gradually eliminate state support to refining by abolishing the export duty by 2024, in a move widely seen as hampering companies with heavy refining exposure.

11 June 2018 , 00:03Nastia AstrasheuskaNeftegaz.RU3160

Moscow and oil companies agree on oil export duty phase-out

The Russian energy and finance ministries agreed with oil companies to start cutting the export duty on crude gradually.

08 June 2018 , 14:06Irina SlavNeftegaz.RU4250

Russia may revisit inflation targets

The Russian Central Bank official said it may revisit its inflationary targets for the year next month.

22 May 2018 , 14:07Daniel J. GraeberNeftegaz.RU5180

Russia to see oil revenues jump fivefold

Due to the oil price rally, Russia expects its oil and gas revenues to jump fivefold compared to the expected revenues set in its 2018 budget, according to the Finance Ministry that now expects Russia to post a budget surplus for the first time since 2011.

14 May 2018 , 00:02Tsvetana ParaskovaNeftegaz.RU4690

GlobalData: Russia’s new oil tax bill promises a big change, but has limited scope

The scope of Russia’s profit-based tax (NDM) pilot scheme will still be limited in the context of Russia’s upstream sector, according to GlobalData, a leading data and analytics company.

07 May 2018 , 00:02Neftegaz.RU3670

New sanctions on Russia could lift oil prices further

Washington going to impose new sanctions on Russia for its support of Syrian President Bashar Assad.

17 April 2018 , 16:06Irina SlavNeftegaz.RU6120

Official: Russia’s Zarubezhneft can transfer capital to Iran via European banks

Gholamreza Manouchehri said that Zarubezhneft can transfer its capital to Iran via European banks and there is no problem in this respect.

04 April 2018 , 17:22Neftegaz.RU4830

The European Investment Bank agrees $1.15 billion investment for TANAP gas pipeline

EIB confirmed its board's approval of a major loan for the Tanap gas pipeline.

16 March 2018 , 10:12Neftegaz.RU5290

Nigeria can produce oil at $20 a barrel

The Nigerian National Petroleum Corporation can produce crude oil at around $20 a barrel.

07 March 2018 , 18:00Irina SlavNeftegaz.RU4470

Iran and Russia consider developing own cryptocurrencies

Russia and Iran have expressed interest in developing their own digital currencies to help combat U.S.-imposed sanctions, following last week's successful launch of Venezuela's 1st cryptocurrency, the El Petro.

26 February 2018 , 00:03Neftegaz.RU5680

Nicolas Maduro: Venezuela is ready to launch the 2nd cryptocurrency, called «Petro Gold»

Nicolas Maduro is ready to launch 2nd Petro token - called Petro Gold.

23 February 2018 , 12:29Neftegaz.RU5780

Russia's federal budget may move into surplus due to higher oil prices

Russia’s Finance Ministry to return to surplus this year due to higher than expected oil prices.

18 January 2018 , 12:09Neftegaz.RU7740