Дорогие друзья! Больше трех лет я рассказываю вам об основных новостях, событиях, трендах на мировом рынке нефти и газа. Я делаю это бесплатно и без рекламы. Поэтому я прошу вас о помощи. Wognews нуждается в развитии. Вас больше 20 000 человек из более чем 80 стран мира. Если каждый пожертвует небольшую сумму денег, 500 или 1000 рублей, или больше, wognews станет лучше. Спасибо, Владимир Виноградов, основатель wognews.

Dear friends! For more than three years I've been telling you about the main news, events, trends in the world oil and gas market. I do it for free and without advertising. Therefore I ask you for help. Wognews needs development. You are more than 20 000 people from more than 80 countries. If each donate a small amount of money, $10, $20, $30 or more, wognews will become better. Thank you, Vladimir Vinogradov, the founder of wognews.
2015-07-03 18:05:00

RUSSIA NEEDS $70

RUSSIA NEEDS $70

Russian Finance Ministry wants to restart replenishing the emergency Reserve Fund if the oil price exceeds $70 per barrel Finance Minister Anton Siluanov said.

The move would also help to prevent the rouble from excessive strengthening, he said.

Russia has been hit by lower oil prices and by Western sanctions over its role in the Ukraine crisis. Its rouble currency fell sharply against the dollar in 2014 and has yet to recover.

"We need a very serious approach to the structure of expenditures, to the question of not using the reserves in full volume," Siluanov said. "We are the country which depends on external factors. We lose stability without reserves."

According to the ministry, Russia will be spending money from its Reserve Fund in 2015-2017 and will reduce it to 500 billion rubles ($9 billion) by the end of 2017. The country had 4.27 trillion rubles ($77 billion) in the fund as of July 1.

Oil prices rose slightly on Thursday with Brent crude LCOc1 trading around $62 per barrel.

In March Siluanov said he did not expect the oil price to reach $70 per barrel soon due to a global supply glut and demand stagnation.

The replenishing of the Reserve fund would also allow the government to take excessive foreign currency from the domestic market, preventing the rouble from strengthening too much, the minister said.

The rouble strengthening was negatively affecting the competitive ability of Russian products on global markets until 2014, he said.

Siluanov also said on Thursday he did not expect Russia's sovereign credit rating to be changed by Fitch at a review on Friday.

reuters.com

Tags: OIL, PRICES, RUSSIA, SANCTIONS

Chronicle:

RUSSIA NEEDS $70
September, 22, 08:50:00

RUSSIA - KURDISTAN INVESTMENT

Instead, with the planned referendum just days away, Russian state oil giant Rosneft announced its latest investment last week, to help Iraqi Kurdistan develop its natural gas industry, for domestic supplies and eventual export.

RUSSIA NEEDS $70
September, 22, 08:45:00

IRAN'S GAS EXPORT: ABOVE 5 BCM

Iran exported over 5 billion cubic meters (bcm) of natural gas during the first five months of the current Iranian calendar year (March 21-August 22), Dispatching director of National Iranian Gas Company (NIGC) announced.

RUSSIA NEEDS $70
September, 22, 08:40:00

IRAQI OIL TO U.S.

Gazprom Neft has shipped its second and largest cargo of Iraqi crude to the US since the Badra field, its flagship overseas oil project, came on stream in 2014, the Russian oil company said Tuesday.

RUSSIA NEEDS $70
September, 22, 08:35:00

QATAR - TURKEY LNG

Qatargas has agreed to sell 1.5 million tpy of LNG to Turkey’s BOTAŞ Petroleum Pipeline Corporation (BOTAŞ) over a period of three years

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