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News // Economy

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.

today, 00:02Daniel J. GraeberNeftegaz.RU1010

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.RU1880

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.RU3050

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.RU4020

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.RU3540

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.RU2890

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.RU5310

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.RU3220

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.RU4240

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.RU3730

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.RU4720

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.RU4530

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.RU6750

Russian oil variety Urals increased by 26.6% in 2017

The price of the Russian oil variety Urals increased by 26.6% in 2017.

11 January 2018 , 10:10Neftegaz.RU5410

European Investment Bank delays decision whether to lend €1.5 billion to the TAP

EIB delayed a decision on whether to grant a multi-billion-euro loan to a controversial pipeline.

13 December 2017 , 16:06Neftegaz.RU6140

Oil production cuts taking a toll on Russia’s economy

The OPEC/non-OPEC production cuts hurt Russia’s economic growth in October.

24 November 2017 , 14:12Tsvetana ParaskovaNeftegaz.RU6570

Oil and gas tax revenue driving Russia forward

Revenue collected from the oil and natural gas industry in Russia is in part behind the 19 % gain from last year.

20 November 2017 , 17:30Daniel J. GraeberNeftegaz.RU5060

Venezuela signed a debt-restructuring deal with major creditor Russia

The Russian Finance Ministry signed a deal to restructure Venezuela’s debt.

15 November 2017 , 18:00Neftegaz.RU6300

Italy may sell Eni stake to pay off national debt

 Italy could soon sell its stake in Eni to pay down debts.

07 November 2017 , 16:15Zainab CalcuttawalaNeftegaz.RU6860

Belarus may pay in Russian rubles for natural gas in future

Belarus may switch to Russian rubles in payments for natural gas in the future.

11 October 2017 , 12:10Neftegaz.RU5220

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