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

{{newsPoint.title}}

{{newsPoint.title+ ' '}}

{{newsPoint.subtitle}}

World oil prices

Expert: 2035 Master Plan of Russian Oil Sector Development suggests output decline

The base case scenario of the 2035 Master Plan of Oil Sector Development provides for decline of oil and gas condensate production in Russia to 531 mln tonnes in 2016 and to 521 mln tonnes in 2020

© Максим Слуцкий/ТАСС, архив

MOSCOW, March 3. /TASS/. The base case scenario of the 2035 Master Plan of Oil Sector Development provides for decline of oil and gas condensate production in Russia to 531 mln tonnes, Deputy General Director of Institute of Energy and Finance Fund Alexey Belogoryev told TASS on Thursday. Russia produced 534 mln tonnes of oil in 2015.

Read also

"We expect the decline to 531 mln tonnes in 2016 and to 521 mln tonnes in 2020 under the base case scenario. The year of 2023 will see the minimal level of 516 mln tonnes, with gradual return to 523-525 mln tonnes a year after that," the expert said.

The base case scenario of the Institute of Energy and Finance addresses average annual prices of $40-50 per barrel in 2016-2018 and $60-80 per barrel later on, Belogoryev added.

Oil production may decline to 506 mln tonnes per year in 2020 if oil prices are lower and taxation conditions are tougher.

It was reported earlier the base case scenario of the Russia’s 2035 Energy Strategy provided for annual oil production at the level of 525 mln tonnes and refining of 240 mln tonnes yearly.

Read also

Should Russia get rid of its dependence on oil exports?

Tags

Oil & Gas Oil price

Russian Export Center interested in export flows to China through major distributors

CEO Veronika Nikishina pointed to the high potential of exporting processed agricultural goods to China, speaking about non-resource exports

Russia says its troops mined, blocked one route used by Ukrainian forces in Kursk Region

According to the ministry, soldiers of the regiment's reconnaissance company with the call signs Porsh and Pochta destroyed the enemy that was covering the passage in the engineering barriers and moved forward to fulfill the combat mission

West itself signed death warrant for dollar, turning it into punishment tool — Lavrov

At the same time, the volume of mutual settlements in national currencies in foreign trade between the BRICS member countries reaches around 65%

Crowds throw mud at Spanish king during visit to flood zone

As a result, the king's visit to Paiporta was cut short

List of BRICS partner countries agreed, Putin says

According to the Russian leader, the list of potential candidate countries was also agreed upon

Putin reiterates Russia’s willingness to engage in talks with Ukraine

Nearly three hours of talks between Russian and Ukrainian delegations in Istanbul on March 29, 2022, yielded principles for a potential agreement, including Ukraine's commitment to maintain a neutral, non-aligned status and its pledge to refrain from deploying foreign weapons, including nuclear weapons, on its territory

Mishustin to travel to Minsk for meeting of Russia-Belarus Union cabinet

The meeting’s agenda includes about 20 issues, such as mobile communications tariffs and development of suburban rail service

Musk slams Harris for false claim about US troops in combat zones

Earlier, Harris had said, "There is not one member of the US military in active duty in a combat zone — in any war zone around the world"

US State Department says 10,000 North Korean soldiers deployed to Russia’s Kursk Region

They "could enter combat in the coming days," Matthew Miller, a State Department spokesman said

Russian-North Korean partnership treaty called to stabilize region — Russian diplomat

"The treaty’s provisions, including article 4 on mutual support in case of an armed incursion, will be fully implemented, if need be," Anna Yevstigneyeva said

Russia’s Medvedev cautions next US leader against adding fuel to fire in Ukraine

The politician doubted the deep state in the United States wants another global war

Kremlin spokesman denies Russia ships explosives across EU

"We have never heard any official accusations," Dmitry Peskov said

For US losing dollar as a standard of settlements would be like losing a war, Trump says

The Republican presidential candidate criticized the current US administration for allowing the unification of Russia, China, Iran, the DPRK and a number of other countries into one group

PREVIEW: Putin to lay flowers at monument on Red Square to mark National Unity Day

Representatives of religious denominations, public and youth organizations will take part in the ceremon

Ukraine admits number of deserted soldiers from Armed Forces of Ukraine surpasses 100,000

Earlier, military lawyer from the Center for Support of Veterans and Their Families Roman Likhachev said that more than 100,000 servicemen had voluntarily left their units

Trump reaffirms to end Ukraine conflict and prevent global war if elected

Throughout his campaign, Donald Trump has vowed to resolve the Ukraine conflict even before his inauguration, should he reclaim the White House

Putin meets with visiting North Korean foreign minister — Kremlin spokesman

On November 1, Choe Son Hui held talks with her Russian counterpart, Sergey Lavrov

NATO intends to fight 'defensive battles' thousands of miles from its territory — Lavrov

According to Lavrov, all reasonable observers understand "that this is a road to nowhere"

Press review: Trump, Harris clash in swing states as EU likely to keep sanctions on Russia

Top stories from the Russian press on Tuesday, November 5th

Ukrainian lawmaker Bezuglaya calls out ‘catastrophic situation’ in country’s army

Maryana Bezuglaya accused Commander-in-Chief Alexander Syrsky for his alleged failure of the military operation in Russia’s borderline Kursk area and the complicated situation in the southern directions of the frontline

Iran has hundreds of missiles capable of inflicting severe damage Israel — WSJ

The article states that the Israeli attack has compromised the air defense systems protecting key Iranian facilities

AI predicts Harris’ victory over Trump

The forecast predicts Trump has a 73.3% chance of winning Arizona, a 62.1% chance in North Carolina, and a 61.8% chance in Georgia

Kiev reports tense situation for Ukrainian troops in Kurakhovsky direction

In late October, Russian Defense Minister Andrey Belousov informed that the Russian Armed Forces continued to make solid progress in the Kurakhovsky direction

Chisinau denies hundreds of thousands of Moldovans in Russia right to vote — Kremlin

Dmitry Peskov stressed that the Moldovan election was "neither democratic nor fair" and was "fraught with electoral manipulations"

Putin to accept diplomatic credentials from 28 ambassadors of countries like Japan, Canada

The ceremony on Tuesday will be the first in 2024

Russian Defense Ministry presents slideshow of Ukrainian plot to capture Kursk nuke plant

Ukraine planned to engage 20,000 troops, 27 tanks, 50 units of armored hardware, 30 units of tube artillery and five multiple launch rocket systems

Sandu is winning in 2nd round of Moldovan presidential elections with 55.04% — CEC

Votes at a number of polling stations abroad are yet to be counted

Kiev may look at Qatar-mediated agreement with Russia on non-targeting energy facilities

According to Andrey Yermak, a principle like the one of the grain deal could be used in this context, but no talks between Kiev and Moscow are being held at the moment

Ukraine attacks Belgorod Region with 20 munitions, two UAVs in one day

Vyacheslav Gladkov noted that two drones were shot down over the town of Schebekino and the Belgorod District

Kiev capable of staging provocation with use of nuclear fuel — Defense Ministry

It is reported that the Kiev regime is capable of launching a provocation directed against Russia's population in order to destabilize the situation

Russia’s Ionosfera-M satellites successfully put into orbit after launch

Soyuz-2.1b rocket also carried 53 other satellites

Russia says Т-80 tanks of battlegroup East disrupt Ukrainian attack in South Donetsk area

According to the statement, following the combat mission, the tank crews quickly left their firing positions and returned to the waiting area to evade retaliatory fire by enemy artillery

Meta makes AI models available to US government for military purposes

According to Nick Clegg, "these kinds of responsible and ethical uses of open source AI models like Llama will not only support the prosperity and security of the United States, they will also help establish US open source standards in the global race for AI leadership"

Western military assistance to Ukraine tops 100 bln euros — minister

Ukraine regularly asks for additional military assistance from its Western partners, occasionally criticizing them for delays and insufficient amount of supplies

Germany ‘shamefully resigned’ itself to destruction of Nord Stream — Lavrov

Lavrov also drew attention to the fact that "reckless proposals" are being made about strikes with Western long-range systems deep into Russian territory

Kiev's violation of agreements means less territory for Ukraine — Lavrov

The Russian foreign minister also recalled the Istanbul agreements

Syria demands UNSC take measures to stop Israel’s attacks

A source in the Syrian defense ministry told the agency earlier that Israel had staged an attack from the occupied Golan Heights on Monday evening

Medvedev sees West waging real war on Russia in Ukraine

"Our current adversaries argue that they have a right to send any weapons to Ukraine or that they have a right to dispatch their advisors to consult on how to conduct hostilities," the Russian Security Council deputy chairman said

Press review: Lavrov embarks on EU visit and Russia permits individual crypto mining

Top stories from the Russian press on Friday, November 1st

Moldova’s opposition to challenge presidential election results with Constitutional Court

According to Sor, the opposition has evidence of massive ballot rigging in favor of the incumbent president during the presidential election

Hollywood actors face pressure to endorse Harris or risk career setbacks — Elon Musk

The US presidential election is set to take place on November 5, with voters also selecting a third of the Senate, the entire House of Representatives, and governors for 11 states and two territories

Trump says he’s fighting 'evil democrat system,' not Harris

The United States presidential election is set to be held on November 5

Harris, Trump tie in Dixville Notch, starting election

As is tradition since 1960, residents of Dixville Notch cast their ballots around midnight local time, several hours before voting starts in other parts of the country

Russia says 6 Ukrainian drones shot down over Bryansk Region overnight

Bryansk Region Governor Alexander Bogomaz said there were no casualties and destruction as debris of the downed drones hit the ground

Soyuz-2.1b blasts off from Vostochny spaceport carrying 55 Russian, foreign satellites

The Ionosphere-M satellites, which are the main payload, are set to be put into a sun-synchronous orbit within an hour

Google’s fines in Russia reach stratospheric levels — lawyer

Google can return to the Russian market only if it complies with the court’s decision

Enemy plans to seize Kursk NPP, Ukrainian losses: situation in Kursk Region

Units of the battlegroup continued offensive operations, defeating Ukrainian formations in the areas of the settlements of Daryino, Leonidovo, Nikolayevo-Daryino, Novoivanovka and Plekhovo

Ukraine’s Security Service carrying out sabotage activities against ZNPP employees

Lieutenant General Igor Kirillov recalled that shelling attacks on the nuclear plant by Ukrainian troops had been of little concern for the global community

US election results will bring peace or third world war — Serbian leader

The United States presidential election is set to be held on November 5

Putin to accept letters of credentials from 28 new ambassadors on November 5

The ceremony will also be attended by representatives from Argentina, Italy, Spain, New Zealand, Ireland, Denmark, Belgium, the Netherlands, and Finland

Russia hammers Ukraine’s missile armament workshops, military airfields over past day

Russia’s Battlegroup West inflicted roughly 510 casualties on Ukrainian troops and destroyed four enemy ammunition depots in its area of responsibility over the past day, the ministry reported

Final poll by NBC shows equal support for Harris, Trump in US presidential election

Both candidates are being supported by 49% of registered voters with merely 2% remaining undecided

Trump admits he may lose election

The US general election is being held on November 5, 2024

Treaty between Russia, North Korea corresponds to geopolitical situation — senior diplomat

The Comprehensive Strategic Partnership Treaty was signed by Russian President Vladimir Putin and North Korean leader Kim Jong Un during the Russian head of state’s visit to Pyongyang in June

Hezbollah fires 105 rockets from Lebanon at Israel on November 3 — IFD

The army "will continue to protect Israel and its people from threats" from Hezbollah, the press service noted

Israel steps up readiness for potential Iranian strike — report

The IDF has not ruled out the possibility of an Iranian response from Syria, Yemen, or Iraq, rather than directly from Iran, the newspaper reported

Russian forces liberate settlement of Vishnyovoye in Donetsk People’s Republic

Medvedev says any new uprising in Ukraine would seek to execute current leaders

The Russian politician said the goal of Zelensky and his team is to stay in power in the country as long as possible

No difference for Russia who wins presidential election in US — diplomat

According to Maria Zakharova, if Washington's policy shifts after the election, Russia will be ready to consider any US proposals that do not contradict its interests

Elon Musk claims war mongers back Kamala Harris’ 'puppet regime'

According to Elon Musk, those within the US administration who support Vice President Harris "profit off of wars," a situation he described as "insane"

Trump has 61% chance of winning US election — bookmakers

The US general election is being held on November 5, 2024

Former CIA, Pentagon chief describes incursion into Kursk as Kiev’s ‘strategic mistake’

In Robert Gates opinion, Russia is capable of continuing its special military operation in Ukraine until it decides that its goals are met, and underestimating its ability to carry on "is a huge mistake"

Southern sector of Ukrainian defense in DPR close to collapse — The Guardian

Kupiansk military-civilian mayor Andrey Besedin described the situation as "critical" and said that approximately 1,400 people were refusing to evacuate from their homes, awaiting the arrival of Russian troops

Talks on settlement in Gaza continue — diplomatic source

The Egyptian proposal involved a 12-day ceasefire, during which Hamas would release four Israeli hostages and then the sides would hold talks about "a more long-lasting ceasefire"

Sandu wins Moldova's elections with 55.33% of votes, Stoianoglo gains 44.67%

In total, 1,699,025 people came to the polling stations in Moldova and abroad, which is more than 54.31% of the people included in the electoral lists. In the second round of the 2020 presidential elections, this figure reached 58.22%

Harris has 4-point lead over Trump in final PBS election poll

An earlier poll conducted by Research Co. revealed that Harris was ahead of Trump in swing state Pennsylvania by one percentage point

West’s erroneous course and preventing major war — what Putin told foreign ambassadors

Russia remains ready for talks with Ukraine, the Russian president noted

NATO number one threat to global peace, says French politician

It is stted that NATO considers the EU as "a registration office of its members"

Russian Air Defense Forces shot down four HIMARS missiles, Hammer bomb, 42 Ukrainian UAVs

Russia’s East battlegroup improves its position, Ukraine loses up to 110 servicemen

North Korea probably launched ballistic missile, Japan’s coast guard says

The missile, whose type remains unclear so far, fell about 20 minutes after launch, the agency said

Opposition rally near parliamentary building in Tbilisi ends without incidents

President Zourabichvili and all the opposition parties refuse to recognize the election results, slamming them as rigged

Attempts to capture ZNPP lead to pointless deaths of mobilized Ukrainians — governor

Yevgeny Balitsky noted that the safety of the ZNPP and its perimeter is reliably safeguarded by the Russian military, and that "the power plant's personnel are performing their duties"

Russia supports fair relations in economy — Putin

According to the head of state, Russia follows a constructive course in its foreign policy that addresses both its interests and global trends

Russia’s Fregat booster delivers 53 small satellites into target orbit

Considering Ionosfera-M No. 1 and Ionosfera-M No. 2 heliogeophysical satellites put into orbit, Russia launched a record 51 domestic satellites into orbit

Kursk region will be cleared of Ukrainian forces — Putin

He added that victory is impossible without volunteers who support the fighters at the front

Economic sanctions against Russia not working — top Hungarian diplomat

As an example, he cited Europe’s continuing purchases of Russian liquified natural gas and Russian uranium supplies to the United States for the production of fuel for US nuclear plants

Over 78 mln US citizens vote early in presidential election — Florida State University

According to the report, more than 42.6 million people attended polling stations

Bulgaria, Westinghouse sign engineering deal for additional reactors at Kozloduy NPP

The cost of construction has not been determined yet, but is expected to be between $14 billion and $30 billion

Russia does not seek confrontation, hopes Europe begins to cooperate — Putin

"I trust that a rational, balanced approach to cooperation with Russia will prevail once again," the Russian leader stressed

Russian diplomat slams Moldova’s election as most undemocratic in country’s history

The outcome of the runoff presidential election "exposed a profound split in Moldovan society, which began after the first round of election and the referendum on European Union membership," Maria Zakharova noted

Kiev wants to exchange only militants from its nationalist battalions — Russian diplomat

According to Maria Zakharova, Kiev is also "interested in the fate of foreign mercenaries who took part in combat operations against Russia"

Presidential election voting kicks off in most American states

Some swing states, including Georgia, Michigan, and Pennsylvania have already begun voting

Total losses of Ukrainian forces in Russia’s Kursk Region reach over 29,600 servicemen

Meanwhile, over the past 24 hours, the Ukrainian Armed Forces have lost over 350 servicemen

US to hold 60th election of president, vice president on Tuesday

Election results must be officially certified in states by December 19

Russian Guardsmen uncover Ukrainian arms cache with over 100,000 munitions in LPR

The arms cache also stored more than 600 artillery shells and engineer explosive items, eight anti-tank missiles, over 100 grenade launcher projectiles

Cargo Dragon lifts off from Florida launch site to head for ISS

The 31st commercial mission to deliver cargo to the orbital outpost departed from John F. Kennedy Space Center in Florida at 9:30 p.m. US East Coast time

Prosecutor's Office deems activities of US-based business society undesirable in Russia

The international company incorporated in the United States has been engaged in promoting the policies of unfriendly states regarding the Russian-Ukrainian conflict and actively supports the LGBT community, the Russian Prosecutor General's Office explained

Fencing installed around Harris’ residence in Washington ahead of election

Apart from that, additional fencing will be installed around the US Capitol and the US Department of the Treasury in Washington

Swedish climate activist Greta Thunberg appears at a rally in Georgia

According to some reports, she came to the country at the invitation of a non-governmental organization

Ukrainian forces lose 11,800 soldiers on LPR borders in a week — military expert

During the mentioned period, the Russian military destroyed 196 vehicles, 89 various armored vehicles, five tanks, three multiple launch rocket system launchers

Kiev strikes on Kursk NPP may cause Chernobyl, Fukushima-like disasters — Russian military

Lieutenant General Igor Kirillov pointed out that one of Ukraine’s primary objectives in its incursion into the Kursk Region was to capture the Kursk NPP

Situation dire for Ukrainian troops along entire frontline, says DPR head

Meanwhile, the potential of Ukrainian armed forces should not be underestimated, Denis Pushilin cautioned

BRICS countries dominate world economy — official

He pointed to the improved quality of life in the BRICS countries, the birth rate among the key factors and noted other demographic and socio-economic reasons

Rebels capture strategic town in eastern Congo bordering Uganda

M23 units resumed their offensive in North Kivu in mid-October, capturing over ten major settlements

Malaysia rejects US call to 'stop being friendly' with Russia — PM

Anwar Ibrahim said the call came during a meeting with US Secretary of State Antony Blinken on the sidelines of the 19th East Asia Summit in Laos

No military alliance provided for in Russia-DPRK partnership treaty — senior diplomat

According to Andrey Rudenko, Russia openly tells this to "all North Korea’s neighbors who sometimes and, lately, very often, express certain concerns"

Attacks on reserves and Ukrainian losses: situation in Kursk Region

The Ukrainian armed forces lost over 150 troops in the Kursk area in the past day

Russian forces display ingenuity and unconventional tactics in liberating DPR — official

Donetsk People’s Republic head Denis Pushilin also emphasized that the enemy should not be underestimated, so as not to diminish the significance of Russian forces' achievements

Ukraine’s attempt to seize ZNPP threatens global nuclear industry — spokeswoman

The Zaporozhye Nuclear Power Plant is well-protected Yevgeniya Yashina added

Moscow calls on Seoul to refrain from sending weapons to Ukraine — diplomat

"We call on our South Korean colleague to think twice and not to embark on this extremely dangerous path, which will lead Seoul to nothing good", Anna Yevstigneyeva said

Japan’s defense minister says North Korea launched 7 missiles that flew 400 km each

Japan issued a protest to Pyongyang through diplomatic channels