{{dayPoint.date | date : 'd MMMM yyyy'}}

{{newsPoint.title}}

{{newsPoint.title+ ' '}}

{{newsPoint.subtitle}}

World oil prices

Russian energy minister expects return of high oil prices in 2017

Russia expects the oil demand to match the offer by mid-2017 because there are no major investments on the market

© AP Photo/Jae C. Hong

MOSCOW, June 30. /TASS/. High oil prices may return in 2018 after demand matches offer in mid-2017 because of contracted investments, Russian Energy Minister Alexander Novak said on Thursday.

Read also

"We expect demand will match offer by mid-2017 because there are no major investments on the market," Novak added.

"There will be a long-term cycle of low oil prices in the oil sector. We believe the high prices cycle ended in 2008. It [the low prices cycle - TASS] will last for 10-15 years. Prices will be at the level of $50-60, probably $70 a barrel. Then the high prices cycle will start again," Novak said.

The price drop was the result of intensified competition and growing offer because of emerging new technologies, he said.

"Intensified competition in all areas is currently the main challenge for all of us dealing with energy. As far as the oil sector is concerned, we experience a long-term crisis and a price decline. This is also caused by higher competition and development of new technologies making possible to produce oil earlier regarded as unfeasible," the Minister said.

Tags

Oil & Gas Oil price

Russia considers launching direct flights with Brazil, Malaysia, Pakistan — Minister

Roman Starovoyt noted that Russia is holding negotiations with many airlines from friendly countries

Two freight trains collide at Trans-Baikal Railways, traffic suspended

Both freight trains loaded with coal collided at the Bushulei-Zhireken railway section

NATO spies study damage from Oreshnik at Yuzhmash — expert

Alexander Stepanov emphasized that both Kiev and its Western allies are closely scrutinizing the consequences of the strike on the plant

PREVIEW: Putin expected to unveil several transport facilities

According to Kremlin Spokesman Dmitry Peskov, Putin has several closed-door meetings slated for December 22

Press review: Putin outlines Russia's future goals and Tehran faces energy blackout riots

Top stories from the Russian press on Friday, December 20th

Press review: Israel and Hamas near a truce while Zelensky drafts a new negotiation plan

Top stories from the Russian press on Thursday, December 19th

Press review: Who benefits from Russian general's murder as Trump lacks Kremlin strategy

Top stories from the Russian press on Wednesday, December 18th

Russian troops liberate two communities in Donbass area, Kharkov Region over past day

Russia’s Battlegroup Center inflicts 480 casualties on Ukrainian army over past day

Russian forces create bridgehead near Kupyansk-Uzlovoy in Kharkov Region — expert

Ukrainian forces have been shifting significant reserves to this settlement, including fresh recruits with little to no training, to retain Kupyansk

Russian cancer vaccine to be free of charge — top oncologist

It is planned to launch it in general circulation in early 2025

US Navy cruiser mistakenly downs F/A-18 fighter over Red Sea

According to US Central Command, the incident occurred during airstrikes on Houthi facilities

Arkhangelsk nuclear submarine ready to join Russian Navy — Sevmash Shipyard CEO

Project 885M nuclear-powered submarines carry Oniks and Kalibr-PL cruise missiles as their basic strike weapons

Hungary wants to maintain ties with Russia under its economic neutrality policy — PM

Victor Orban also said that hopes for the development of economic cooperation with the United States after President-elect Donald Trump takes office

Aleppo taken by 350 militants while 30,000 gov’t troops retreated without fight — Putin

The Russian president recalled that no Russian land troops had been deployed to Syria, with Russia having only an airbase and a naval base

Death toll from Israeli strikes on Gaza Strip exceeds 45,200 — health ministry

More than 107,600 people received wounds

Ukrainian troops attempt counterattacks on Vasilyevka direction in Zaporozhye Region

According to the report, the Russian troops also improved their positions near Nesteryanka on the Orekhov direction

Putin calls Oreshnik missile development ‘an historic event’ for space rocket industry

Russian President also said that he had handed down direct instructions to produce and test-fire the Oreshnik hypersonic missile

Putin opens new transport infrastructure sites in Russian regions via video link

Putin also took part in the ceremony of opening international airports in Magadan, Cheboksary, and Stavropol

AI can help generate personalized cancer vaccines in an hour — Russia’s vaccine chief

Now it takes quite long to build personalized vaccines because computing of how a vaccine should look like uses matrix methods, Alexander Gintsburg said

Trump nominates billionaire Feinberg as US Deputy Secretary of Defense

The president-elect called Feinberg an "extremely successful businessman"

Press review: EU imposes new anti-Russian sanctions and Russia braces for NATO conflict

Top stories from the Russian press on Tuesday, December 17th

An-2 plane missing in Kamchatka located, survivors found — regional emergencies ministry

According to the press service of the regional Emergencies Ministry, all three people onboard the plane survived the emergency landing

Damage to Portuguese Embassy in Kiev caused by Ukrainian air defense — Russian diplomats

Reporters are ramping up Russophobia, distorting the facts while writing on this matter, the Russian Embassy in Portugal said

Zelensky actually flips the bird to Trump by insulting Putin, Medvedev says

The politician emphasized that "the president of a major country should be extremely polite and amiable"

IN BRIEF: What is known about drone attack on residential buildings in Kazan

TASS has gathered the main information about the incident

First batch of nuclear-armed drones Poseidon manufactured for special-purpose sub Belgorod

According to the source, various trials of core components of Poseidon underwater drones, including the nuclear power

Putin’s talks with visiting Slovak PM over — Kremlin spokesman

Dmitry Peskov added that it is not planned to issue any joint statements

Ukraine may cease to exist by 2034 — Russian security official

Dmitry Medvedev noted that Ukraine will never join NATO

Baltic states threaten mass deportation of Russians, take lead in Russophobia — statement

The Foreign Ministry noted that the facts of discrimination and persecution of Russians are often ignored by the official leadership of countries and international human rights agencies, leading many victims to remain silent

ISS orbit raised ahead of launching Soyuz manned spacecraft

As preliminary data suggest, the ISS orbit was raised by 2.3 km to 416.43 km above the Earth’s surface

Ukraine's refusal to transit Russian gas will hit EU economies hard — French expert

According to Jacques Sapir, the decision not to extend transit contracts was no surprise given the political landscape

Kiev to face more destruction after its UAV attack on Kazan, Putin warns

"We will not only restore the damage that some attempt to cause to us but will also move forward even at a faster pace as we are doing now," Russian President said

Russian forces control more than half of Chasov Yar in DPR — expert

Andrey Marochko noted that Russian forces had "slightly advanced" in the northern and southern parts of Chasov Yar

Response to Ukrainian attack on Russia’s Rylsk to come shortly — Russia’s UN envoy

Vasily Nebenzya warned as he denounced the attack as yet another unambiguous step by the Kiev regime toward escalation

Crew, passenger of An-2 plane crashed in Kamchatka satisfactory — medics

All three of them are in satisfactory condition, but it is too early to talk about their discharge, the regional hospital staff said

Georgian president demands appointing snap elections within week

Salome Zourabichvili also promised to announce her further plans on Monday

Russia currently holds upper hand in Ukraine conflict, Indian expert says

Nandan Unnikrishnan pointed out that Russian President Vladimir Putin "has more than once spoken about Russia’s readiness to discuss an end to the conflict"

Press review: South Korean president impeached as Ukraine turns to foreign mercenaries

Top stories from the Russian press on Monday, December 16th

Gazprom to replace European sales market with new export destinations, says Italian expert

Demostenes Floros also drew attention to the growing potential of the ever-expanding domestic market and mentioned new ways of using natural gas in the future - for example, for the production of hydrogen and ammonia, necessary for the energy transition and agriculture (in production of fertilizers)

Ukraine’s General Staff admits tense situation along entire frontline

The Ukrainian military also admitted the Russian army’s supremacy in terms of military equipment and the size of personnel

Russian 'soldier of the future' combat gear tested in Syria

The Ratnik is a system of advanced protective and communication equipment, weapons and ammunition

Drone attack triggers fire at fuel infrastructure facility in Russia’s Oryol Region

Currently, the Oryol Region is yet again under a massive enemy UAV attack

Israeli minister’s suggestion of nuclear strike on Gaza raises questions — Russian MFA

Maria Zakharova stressed that such statements by Israeli officials shed light on the true reasons why Tel Aviv was opposing the establishment of a nuclear-weapon-free zone in the Middle East

Proposal to duel with West response to claims of Oreshnik missile vulnerability — Kremlin

Kremlin Spokesman Dmitry Peskov noted that Russian President Vladimir Putin thus meant that the Oreshnik missile is a generation ahead of all existing weapons, while not being a nuclear weapon itself

US wants to destabilize whole region using terrorists in Afghanistan — Shoigu

The defebse minister noted that "instead of working for the reconstruction of Afghanistan after the hasty withdrawal from it, the NATO countries are trying in various ways to restore their military presence in the Central Asian region"

Russia has confidence in its weapons, senior diplomat says

Russian Deputy Foreign Minister Sergey Ryabkov also stressed that the recent developments had shown that the US policy of establishing a system of increasingly layered missile defenses was wrong

Father of conscript who killed 8 in Siberia asks son to cooperate with investigators

The father said that his son would like the unit where he had served to be disbanded

Latest nuclear-powered sub Arkhangelsk to join Russian Navy by yearend

The Arkhangelsk submarine was rolled out from the slipway of the Sevmash Shipyard on November 29, 2023 for completing its construction afloat

Kiev takes out its anger for military defeats on Russian people — diplomat

Foreign Ministry Spokeswoman Maria Zakharova also emphasized that Moscow is outraged by the hypocritical silence of the West and its media on the terrorist attacks in Russia

Kalashnikov improves combat capabilities of Vikhr-1 aviation missile

"I will not comment on that in any further detail, it is our client’s prerogative," Kalashnikov CEO Alan Lushnikov said

Russia declassifies intel about France’s plans to send 2,000 troops to Ukraine

SVR Director Sergey Naryshkin said on March 19 that Paris was already preparing to send some 2,000 troops to Ukraine

Ukrainian troops struggling to escape being trapped in Lozovaya in Kharkov region — expert

In general, "quite active hostilities" are taking place near Dvurechnaya and Lozovaya in the Kupyansk sector of the line of engagement, Andrey Marochko noted

Ukraine loses over 300 troops, two Bradley vehicles in Kursk Region in past day

Eight motor vehicles and two electronic warfare stations were also destroyed? the ministy added

Hungary wants to preserve relations with Russia as part of economic neutrality — Orban

Prime minister underscored that, "the more serious the problems in Europe are, the more decisively the economic relations in all other markets should be promoted"

Russia ready to normalize relations with US without detriment to its interests — Putin

The previous generation of Russian politicians chose the course towards the country’s destruction for the sake of joining the so-called civilized world but this was what the West wanted, President Vladimir Putin

Houthis say attacked US aircraft carrier in Red Sea, shot down US fighter jet

According to the Houthi spokesman, the strike on US vessels was delivered with the use of "eight cruise missiles and 17 drones"

Putin to extend New Year greetings to peoples of several unfriendly countries — Kremlin

The Russian president will not congratulate leaders of unfriendly countries, but he will congratulate some individuals and people of several ones, Kremlin Spokesman Dmitry Peskov said

Musk believes Germany’s Scholz should step down after car drives into crowd in Magdeburg

Meanwhile, Scholz will visit Magdeburg to assess the situation later on Saturday

Ukraine to halt Russian gas transit on January 1, 2025 — Ukrainian PM

The restart of transit via the Ukrainian gas transportation system is possible at a request of the European Commission if this is not Russian gas, Denis Shmygal said

Commander Makarov was killed in fighting to repel Ukrainian attack — ministry

Russian Defense Ministry Spokesman Igor Konashenkov also informed of the death of the deputy commander of the army corps for military-political work, Colonel Yevgeny Brovko, who led the efforts of the personnel

Russia’s Battlegroup South liberates settlement of Ostrovskogo in DPR — Defense Ministry

"The enemy lost up to 285 troops, two armored combat vehicles, two motor vehicles, a D-30 122 mm howitzer, a US-made M119 105 mm howitzers and five field ammunition depots," the ministry added

Putin responds to question about Russia's weakness by quoting Mark Twain

The president noted that Russia had become much stronger over the past two or three years as it became a truly sovereign country

Topic of Russian gas transit expected to be discussed by Putin, Slovak PM

"We’d better wait for the meeting to end to learn what they discussed," he Dmitry Peskov said

Syria’s new government wants to build strategic relations with Turkey

Ahmed al-Sharaa also said he will not "tolerate uncontrolled arms trafficking" across the country

Russia to retaliate against Ukrainian strikes, just as Putin said — Kremlin

"Russia’s position is well known, it was voiced by Putin back in St. Petersburg," Dmitry Peskov stressed

Trump to rely on forces that brought him to power — Russian presidential aide

Nikolay Patrushev agreed that Trump, when he was still a candidate, "made many statements critical of the destructive foreign and domestic policies pursued by the current administration"

Putin agrees 'Russian world' now faces war

The Russian leader also agreed with Sergey Mironov, head of the "A Just Russia - For Truth" faction in the Duma, who said that "the birth rate is insufficient, because the matter concerns extinction"

Trump appoints TV producer Burnett as special envoy to UK

The new special envoy will be in charge of trade and investment issues, as well as the cultural exchange between the two countries

Burkina Faso, Mali, Niger reaffirm withdrawal from ECOWAS irreversible

"The College of national leaders considers the attempt to prolong the withdrawal of Burkina Faso, Mali and Niger from ECOWAS yet another attempt that would allow the French junta and its lackeys to continue planning and carrying out actions, aimed at destabilization of the Sahel Alliance," says the joint statement

Oil supplies to Hungary via Druzhba pipeline resume — top Hungarian diplomat

Reuters reported earlier that oil supplies to Belarus and EU countries via Druzhba had been suspended on December 19 due to technical problems

Russian missile cruiser Admiral Nakhimov to become world’s strongest warship after upgrade

The heavy nuclear-powered missile cruiser Admiral Nakhimov has been under repairs at the Sevmash Shipyard since 1999; real work on the warship has been carried out since 2013

Slovak PM thanks Putin in Russian for meeting with him

This was Putin’s first personal meeting with Fico since 2016

Oreshnik’s launch is sudden, undetectable by satellites — analyst

The range of the Oreshnik system is up to 5,500 kilometers

West should consider Putin's words on Oreshnik missile duel — diplomat

Foreign Ministry Spokeswoman Maria Zakharova emphasized that the rhetoric about "inflicting a strategic defeat on Russia" is firmly rooted in the mentality of the NATO regimes not at all as hypothetical assumptions

Assad allegedly hands list of military targets over to Israel before leaving Syria — media

According to the Turkish newspaper, the former Syrian president did it to ensure his own safety

NATO prepares for war with Russia, Moscow takes these risks into account — senior diplomat

According to Alexander Grushko, NATO's general course poses a danger both to Russia and to the entire architecture of global and regional security

CIA station in Kiev targeted in recent Russian attack, military expert reveals

According to Alexander Stepanov, strikes are systematic efforts to gradually wipe out the military capabilities of Ukraine

Syrian development help prevent regional war — Syria’s new leader

Ahmed аl-Sharaa expressed hope for building strategic relations with Lebanon

Key rate, inflation and criticism of Central Bank: statements by regulator’s chief

The Bank of Russia has taken a pause in raising the key rate, though a long period of tough monetary policy will be required to bring inflation back to the target

Lavrov describes attack by insurgents in Syria as carefully planned

"We will oppose this in every possible way. We will support the legitimate Syrian government. And at the same time, of course, we will actively advocate the need to resume dialogue with the opposition, as required by [UN] Resolution 2254," Lavrov continued

Hungarian PM highlights need to lift sanctions on Russia once Ukraine conflict is resolved

Viktor Obran added, however, that only a couple of EU countries shared Hungary’s position

Three of eight drones that attacked Kazan targeted defense industry facilities — head

The Tatarstan head Rustam Minnikhanov also noted that all operational services worked well when dealing with the aftermath of the drone attack

Almost 20 drones downed over four Russian regions, Black Sea last night

According to Russia's Defence Ministry, attempts to conduct attacks against facilities on Russian soil were thwarted

Turkish president calls on West to stop Israel in Syria before it’s too late

"All international mechanisms need to be effectively employed in order to prevent Israel from exploiting the situation in Syria," Recep Tayyip Erdogan said

Serbia will never joint anti-Russian sanctions, deputy prime minister vows

Aleksandar Vulin noted that he is "not optimistic about prospects for the United States changing its policy toward Serbia" after the inauguration of President-elect Donald Trump

Putin holding talks with visiting Slovak PM

According to Putin’s press secretary, the meeting is being held one-on-one

Top Turkish diplomat calls for listing anti-Syrian sanctions

According to Hakan Fidan, during his contacts with al-Sharaa he "saw the Syrian leadership’s strong will and commitment in this area,"

Magdeburg attacker may be charged with murder of 5, attempted murder of 205 — prosecutor

The motive for committing the crime could have been dissatisfaction with the treatment of Saudi refugees in Germany, Dr. Horst Nopens, Head of the Magdeburg Public Prosecutor’s office, said

Air raid alert issued in six Ukrainian regions

Earlier, an air raid alert was declared in the Kiev, Sumy and Chernigov Regions

Israeli delegation discussing in Doha ways of reaching deal om Gaza — TV

The Al Arabiya television channel said that, citing a source

Civilian industrial complex supplies Russian army with over 65 types of units — top brass

Russian Defense Minister Andrey Belousov praised the new mechanisms for accelerating the introduction of advanced weapons and equipment developed by the civilian defense industrial complex in the interests of the Russian army

Is Gaddafi's gloom prophecy in regard to Europe bound to be fulfilled?

As Europe’s migrant crisis grows far and wide, many Russian media are recalling the late Libyan leader Muamar Gaddafi’s gloom prophecy made several months before his violent death

Massacre staged by retreating Ukrainian troops in Selidovo — report

According to Maxim Grigoryev, videos of interviews with witnesses and preliminary forensic examination of the bodies indicate that most of the victims are elderly women

Russia considers launching direct flights with Brazil, Malaysia, Pakistan — Minister

Roman Starovoyt noted that Russia is holding negotiations with many airlines from friendly countries

No real impulses for organization of Putin-Trump meeting so far — Kremlin spokesman

The Russian leader said during the press conference that he is ready for a conversation with the US president-elect and is ready to meet with him at any moment

Strike on SBU control center response to Russian general’s assassination, expert says

The ministry clarified that Ukraine launched a missile strike against the Kamensky Integrated Plant in the Rostov Region using six US-made ATACMS missiles and four Storm Shadow cruise missiles

Magnitude 5.3 earthquake rocks South Africa

No injuries or damage were reported

Burkina Faso, Mali, Niger take armies to maximum alert — declaration

"The College of national leaders closely follows the deceiving maneuvers, initiated by the French junta, who declares the shutdown of its military bases only to replace them with another, less visible mechanism, which pursues the same neo-colonial goal," says the statement

Civilian manufacturers ramp up drone production to 40,000 units per month

The Russian Defense Ministry has also purchased more than 100,000 units from small design bureaus and civilian manufacturers, the statement said

Oreshnik test launch forces London to take a step back — Russian ambassador

According to Andrey Kelin, the UK’s official reaction to the launch of the Oreshnik missile was rather vague

Eight people killed in Israeli strike on school in Gaza Strip

According to the TV channel Al Jazeera, the refugees were housed at a school in the Al-Daraj neighborhood