OPEC has raised the forecast for Russia’s 2016 daily oil output by 20,000 barrels and now expects the daily output to grow by 140,000 barrels to 10.99 million barrels, OPEC said in its monthly oil market report. OPEC also kept its forecast for Russia’s daily oil output in 2017 unchanged at 10.94 barrels. In August,…
On September 9, Okskaya Shipyard (part of UCL Holding) launched the Penai, tugboat of Project TG-17 being built to the order of Rosmorrechflot’s Marine Rescue Service, the shipyard says in a press release. The vessel is intended for towing of vessels and floating facilities in marine conditions; participation in oil spill response operations as an…
International rating agency Moody’s expects the Russian economy to rise by 1.5% in 2017 after a 1% fall in 2016, the agency said in a statement. In July, the agency expected Russia’s gross domestic product (GDP) to fall by 1.5% in 2016 and to rise by 0.5-1.5% in 2017. Moody’s also expects the asset quality…
The international rating agency Fitch Ratings has affirmed Kazakhstan-based JSC KazTransOil’s (KTO) Long-Term Foreign Currency Issuer Default Rating (IDR) at ‘BBB-‘ with a Stable Outlook, the rating agency reported. “The ratings reflect KTO’s strong operational and financial profile, which we expect the company to maintain at least over the medium term, as well as its…
Kaliningrad Railway is looking into launching a train for 40-foot containers from the Port of Gdansk (Poland) to Moscow and other regions of Russia via the Kaliningrad region, Victor Golomolzin, head of Kaliningrad Railway, said. According to him, this project can become an alternative to transportation of containerized cargo delivered to Gdansk from China and…
The joint venture of Power Machines and Toshiba will deliver transformer equipment for a 500 kV substation of ZapSybNeftekhim, a fuel and petrochemical refinery under construction in Tobolsk (part of SIBUR Holding PJSC) – Russia’s most ambitious petrochemical project. Power Machines – Toshiba. High-Voltage Transformers (PMTT), a Russian company established in 2011, with operational assets…
International Finance Corporation (IFC) is considering the possibility of financing the Southern Gas Corridor project, IFC representative in Azerbaijan Aliya Azimova said. She pointed out that this project was of great importance for the entire region. “We constantly follow the ongoing processes in this project and systematically connect with its main participants. However, for the…