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…
Russian state-owned oil major Rosneft may buy 19.5% in itself during privatization, Vice President Mikhail Leontyev said. “The corporation is seriously studying the possibility of buying its shares from the owner, I mean the government”, he said. The practice of buying own shares is wide-spread. “This is some kind of paranoia which is taking place…
Russian diamond mining giant Alrosa sold $435.1 million worth of diamonds and $18.9 million of cut diamonds in September, the company said in a statement. “September saw good demand in almost all categories of raw diamonds in accordance with our expectations. Sales exceeded the figures of September 2015 significantly”, Vice President Yury Okoyomov said. In…
Russia’s government commission has put off the launch of a Soyuz-FG flight vehicle with the Soyuz MS-02 spacecraft to October 19, the press service of the Russian state space corporation Roscosmos said. “After a scrutiny of materials on troubleshooting and removal of equipment malfunctions aboard the Soyuz MS-02 ship, the government commission decided to appoint…