Russian oil production has dropped this year for the first time in a decade, adding to the already jittery oil market, with some industry insiders saying it has already “peaked”.
Russia, the world’s biggest oil exporter after Saudi Arabia, averaged 10 million barrels per day from January through March, the International Energy Agency said […]

Britain agreed to bankroll controversial drilling for oil and gas off Russia’s Sakhalin island, despite a warning from its own officials of the “potentially devastating effects” on a critically endangered species of whale.
The decision to flout their own experts’ advice is revealed in deeply embarrassing documents the British Government fought for three years to keep […]

The Russian government will double state spending on oil exploration to 2020 to $23 billion with the focus on oil in eastern Siberia to ensure a “good” replenishment of reserves, the country’s Natural Resources Minister Yury Trutnev said yesterday.
Trutnev told reporters that the Cabinet had approved his proposal to increase state spending on mineral resources […]

Russian state oil company Rosneft will increase output by a half by 2020 due to new assets and fields, according to its head as it aims to become the world’s top listed oil producer.
Sergei Bogdanchikov said Rosneft will produce 130 million tonnes of crude (2.6 million barrels per day) by 2010 and 170 million tonnes […]

The Russian mid-sized oil firm Tatneft has given Shell’s operations in Russia a boost by choosing it as its partner in developing vast deposits of heavy bitumen oil in the Volga region in the republic of Tatarstan.
Although no specific details of the agreement have been made public the firm has said it will choose […]