Russia: Lukoil official sees $80 oil price optimal

An $80 per barrel oil price would be the market’s “golden mean,” Vice President of Russian oil producer Lukoil Leonid Fedun reported.

“The price which the market needs now in order for us to satisfy global demand until 2030 is $80 per barrel, according to our estimates”, Fedun said. (Prime/Business World Magazine)

Ukraine: Germany provides EUR 150 million for substation modernization in Donbas

Germany’s credit institution KfW is providing a EUR 150 million loan for implementation of a project to reconstruct substations in eastern Ukraine. The individual loan agreement between Ukraine’s Cabinet of Ministers and KfW was signed at the ninth meeting of the Ukraine-Germany high-level group on economic cooperation. Eva Witt, KfW Director for Eastern Europe, Caucasus…


Russia: trade surplus down in January-September 2016

Russia’s foreign trade surplus decreased by 48.1% YoY to $63.1 billion in January-September, the central bank said.

In January-September 2015, the foreign trade surplus amounted to $118.2 billion. (Prime/Business World Magazine)

Belarus tries out Ukrainian rapeseed meal

Belarusian farmers have finished rapeseed harvesting. Oilseeds and their processed products self-sufficiency remains the topical issue in the country these days. Belarus reduced rapeseed planted area for the fourth consecutive season. Besides, rather bad wintering also had a negative impact on production. Consequently, rapeseed production declines along with increase in meals imports to Belarus, particularly…


Belarus: imports down in January-August 2016

In January-August Belarus decreased the import of merchandise and services by 10.9% YoY to $18.978 billion, according to the latest statistics released by the National Bank. In January-August Belarus’ foreign trade totaled $38.1 billion, down by 12.7% YoY. Belarus’ exports amounted to $19.159 billion (down by 14.4%), with imports at $18.978 billion (down by 10.9%).…