2020

In 9M 2020 negative Net income was RUB -177 bln (USD -2.1 bln). The reduction compared to 9M 2019 was a result of the negative effect of price fluctuations due to COVID-19 pandemic as well as the negative effect of non-monetary factors.

Brent fell 34 cents, or 0.8%, to $43.46 a barrel. WTI fell 30 cents, or 0.7%, to $41.15 a barrel.

Brent fell 34 cents, or 0.8%, to $43.46 a barrel. WTI fell 30 cents, or 0.7%, to $41.15 a barrel.

The global oil demand forecast for 2020 is revised down by 0.3 mb/d. For 2021, oil demand growth is expected to grow by 6.2 mb/d, y-o-y, representing a downward revision of 0.3 mb/d compared to last month’s assessment.

OPEC+ alliance's current 7.7 million b/d in output cuts could be maintained into 2021 instead of being eased as originally planned, or even extended.

"If you look at it in terms of energy efficiency, nuclear energy is not the most efficient way of developing electricity. Solar energy probably offers better efficiency in the long-run, while in the short-run because of the depressed price of oil, countries are finding it more economic to just import oil."

Gazprom and Germany say Nord Stream 2 is purely a commercial project. Gas demand in Germany is growing as it cuts dependence on nuclear and coal power.

The government will spend 1.2 trillion rupees ($16.1 billion) on the latest stimulus program in addition to the 1.45 trillion rupees announced on Wednesday,

President Xi Jinping said China's carbon emission will peak by 2030 and it will attain carbon neutrality by 2060, and thus make a huge contribution to the global fight against climate change.

The government in the summer earmarked 7 billion euros ($8.25 billion) for the build-up of green hydrogen in Germany, plus a further 2 billion euros to set up partnerships with other countries.