Russian independent gas producer Novatek decreased its gas production by 0.3% YoY to 49.95 billion cubic meters in January-September, the company said in a statement. The output of liquid hydrocarbons rose by 43.6% to 9.387 million tons. (Prime/Business World Magazine)
The Russian government will factor in continuing sanctions against the country in the 2017-2019 budget draft, Prime Minister Dmitry Medvedev said. “While writing up the draft we base, as we have repeatedly discussed, on a cautious estimate of the economic situation on global markets, a conservative estimate. In particular, due to a quite low trend…
The Russian company Modern Aviation Technologies (KB SAT) plans to begin production of the new SR-10 single-engine light aerobatic jet trainer aircraft in 2017. “Production of the first aircraft is scheduled for the end of 2017. According to the plans of the Ministry of Defense of the Russian Federation in 2018-2019 a pilot batch of…
Moscow sees the forthcoming negotiations with OPEC during an energy summit in Istanbul as an important step to an oil production cut agreement and expects that it will be reached before a November meeting of OPEC, Russian Energy Minister Alexander Novak reported. “In Istanbul, we initially planned to hold consultations with the countries present there.…
More than 100 Russian-made RD-33MK turbojet engines have been delivered to India’s Navy, the press office of Russia’s United Engine Corporation (UEC) said. The engines were manufactured by the Chernyshev Machine-Building Enterprise, a subsidiary of the United Engine Corporation within Russia’s state hi-tech corporation Rostec. “The engines were delivered under a contract signed between Russia’s…
Russia’s consolidated budget deficit increased by 6.1% to 904.046 billion rubles in January-August. Budget revenues stood at 17.198 trillion rubles as of September 1, and spending amounted to 18.102 trillion rubles. Russia’s federal budget deficit stood at 1.445 trillion rubles in the period, with revenue of 8.144 trillion rubles and spending of 9.589 trillion rubles.…
The Russian Direct Investment Fund (RDIF) and its partners have refrained from participation in privatization of a 50.08% stake in oil company Bashneft as the price is too high, RDIF CEO Kirill Dmitriev reported. Earlier the government allowed state-owned oil major Rosneft to buy the stake for no more than 330 billion rubles by October…