22:33 [Tass] (E)
The Federal Network Agency of Germany refused Nord Stream 2 AG in withdrawing the Nord Stream 2 project from the rules of the updated EU Gas Directive, the regulator said on Friday. "The Bundesnetzagentur has today rejected the application of Nord Stream 2 AG for derogation from regulation for the section of the Nord Stream 2 pipeline located in German territory," the statement said. The agency noted that the necessary condition for removing the pipeline from the rules of the updated Gas Directive was its implementation before May 23, 2019.
12:15 [Donbass Insider] (E)
Gazprom will be able to completely abandon Ukraine’s gas supply route to Europe after the launch of the Nord Stream 2 pipeline, said Sergey Makogon, head of the Ukrainian gas transport system operator, in an interview with RBK. At the same time, Ukraine is preparing for “zero transit [of Russian gas – translator’s note]”, planning a complete update of the gas transport system within five years of existing agreements.
22:47 [Press TV] (E)
Iran’s Minister of Petroleum Bijan Zangeneh says shale oil producers in the US and Canada are being punished by a historic rout in oil markets for refusing to join production cuts by OPEC and its allies.
22:45 [Oil Price] (E)
“Production cuts and shut-ins could remove as much as 17 MMb/d of supply from the market this spring,” said Jim Burkhard, vice president and head of oil markets at IHS Markit.
18:42 [Xinhua] (E)
U.S. oil prices plummeted almost 40 percent on Monday to nearly 11 U.S. dollars per barrel, the lowest level since 1998.
13:59 [New Eastern Outlook] (E)
Phil Butler - US President Donald Trump says he had a “BIG” talk with Russian President Vladimir Putin and Saudi Arabia’s King Salman over oil production. According to the news, a deal was reached where Russia and the Saudis would cut back production by 10 million bpd from global supply beginning in May. If the deal pans out, Vladimir Putin will have thrown a lifeline to Trump and his shale oil friends. OPEC just issued a press release, that tells of all producers cutting back from a baseline of their average for October 2018, with the exception of Russia and Saudi Arabia.
8:24 [Tass] (E)
US President Donald Trump told reporters he had a "good talk" with the leaders of Russia and Saudi Arabia to discuss ways to stabilize the oil sectors of the three nations. During a briefing at the White House, the US leader said that, according to his information, the sides are close to reaching an agreement on oil production cuts. "I just spoke with the president of Russia Vladimir Putin and the King of Saudi Arabia, King Salman, and we had a big talk as to oil production and OPEC and making it so that our industry does well and the oil industry does better than it is doing right now," Trump said.
17:06 [Tass] (E)
Presidents of Russia and the United States Vladimir Putin and Donald Trump discussed the situation on the global oil market in a telephone conversation, the Kremlin’s press service says on Monday. "An exchange of opinions took place on the current status of the world’s oil market," the press service says. "An arrangement was made on Russian-US consultations in this regard through energy department heads," it added.
19:51 [zerohedge] (E)
In the past weeks the Kremlin has shown it`s willing to punch back as well as take drastic necessary defensive action in the face of Washington sanctions at a moment America is preoccupied and made more vulnerable by the coronavirus threat — first by dumping OPEC+ and MbS, effectively declaring war on US shale — and now by taking aggressive measures to insulate Russia`s state-controlled Rosneft.
18:53 [oilprice.com] (E)
Oil opened on Monday down roughly 25 percent, the sharpest decline in decades, and broader financial markets fell so precipitously that the circuit breakers put in place during times of volatility tripped, temporarily halting trading.
11:47 [RT] (E)
Russia’s sovereign wealth fund has enough reserves to cover budget deficit for years, even if oil prices stay between $25 and $30 per barrel, the Finance Ministry announced amid a dramatic oil market crash.
22:09 [PressTV] (E)
Iran’s Minister of Petroleum Bijan Zangeneh says an OPEC meeting on Friday was one of the group’s “worst ever” after it failed to reach an agreement on more oil cuts.
12:15 [Stalker Zone] (E)
On January 31st, US Secretary of State Mike Pompeo went on an official visit to Kiev. He met with the President of Ukraine Vladimir Zelensky. According to Zelensky, the US remains a key ally of Ukraine, the volume of the US’ support for Ukraine this year will amount to $700 million. The head of the Ukrainian state said this at a joint briefing following the meeting...Zelensky also called on American business to produce natural gas and oil in Ukraine, and also expects the participation of American companies in the competition for the development of the Black Sea shelf.
10:32 [TASS] (E)
The United States stands ready to supply Belarus in full with the energy resources at competitive prices, US Secretary of State Mike Pompeo said on Saturday after his talks with Belarusian President Alexander Lukashenko and Foreign Minister Vladimir Makei on Saturday. "Our energy producers stand ready to deliver 100% of the oil you need at competitive prices," Pompeo said.
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