Russia’s finance and energy ministries and its main oil companies have agreed to gradually cut oil export duties to zero over six years, two government sources told Reuters on Wednesday after a special meeting to discuss the matter. Source: Reuters
Shanghai’s new yuan-denominated derivatives contract is set to propel global crude oil futures trading volumes to a record high in 2018, eating into the market share of the two most active crude contracts, Brent and WTI. Source: Reuters
Russia is planning to reduce its oil production by 50,000 bpd to 60,000 bpd in January as part of the new OPEC+ deal, and will not be cutting its 228,000-bpd share outright at the start of the agreement, Russia’s Energy Minister Alexander Novak said on Tuesday. Source: Oil Price
India hopes to attract around US$300 billion in investments in its energy sector in the coming decade, including in refineries, natural gas infrastructure and trade, and liquefied natural gas (LNG) facilities, India’s Petroleum Minister Dharmendra Pradhan said at an energy conference in Delhi on Tuesday. Source: Oil Price
