Oil and Gas News from OilGasDaily.Com  
OIL AND GAS
Russia may revisit inflation targets
by Daniel J. Graeber
Washington (UPI) May 21, 2018

The target of metals and oil-related sanctions, a Russian Central Bank official said Monday it may revisit its inflationary targets for the year next month.

In late March, Central Bank Gov. Elvira Nabiullina said inflation in the Russian economy is on course for a new low in the second quarter, but should be around 4 percent through 2019. Among the risks, she said, were U.S. and European monetary policies that could discourage investments in the Russian economy.

"Increased protectionism in world trade is also of some concern due to its potential impacts on the growth of the global economy," she said in her latest report.

Russia is among the world leaders in oil, gas and metals production. The Russian Ministry of Economic Development said Friday it would take U.S. sanctions on steel and aluminum before the World Trade Organization, adding retaliatory measures could follow within 30 days.

The U.S. Treasury Department said in April it would offer some sanctions relief to Russian aluminum producer United Co. RUSAL, the second-largest company of its kind outside of China. That brought crude oil prices lower along with broader commodities markets.

Energy companies in Russia, meanwhile, remain under sanctions pressure. Central Bank First Deputy Chairwoman Kseniya Yudaeva said Monday the bank may have to revise its inflation forecast.

"We project that under depletion of the effect of short-term and long-term factors inflation will gradually return back to 4 percent, and we plan to revise the outlook at the beginning of June," she was quoted as saying by Russian news agency TASS.

The forecast comes as Russia continues to push for the twinning of its Nord Stream natural gas pipeline running through the Baltic Sea to Germany. Washington maintains that companies working on the project, including several European companies, could run afoul of 2017 sanctions targeting Russia if they work on it.

More than 60 percent of total Russian exports are oil and natural gas, which combine for about 30 percent of the gross domestic product.

Last week, Russian Foreign Minister Sergie Lavrov said he had assurances from Germany that it remained committed to the Nord Stream project.


Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


OIL AND GAS
China's CEFC threatens to sue Czech firm amid debt debacle
Prague (AFP) May 18, 2018
The Prague-based European unit of Chinese private energy group CEFC on Friday threatened to sue a Czech firm that took it over citing CEFC's failure to pay debts. J&T Private Investments (JTPI) on Thursday appointed crisis managers to replace the CEFC Europe board over an unpaid debt of 450 million euros ($530 million). "CEFC Europe shareholders are ready to take all legal steps against J&T including the people the J&T group describes as new CEFC Europe board members," the Chinese company said i ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
Key enzyme for production of second-generation ethanol discovered in Brazilian Amazon

World's strongest bio-material outperforms steel and spider silk

Toward organic fuel cells with forest fuels

Solar powered sea slugs shed light on search for perpetual green energy

OIL AND GAS
Recurrent Energy Secures Financing and Tax Equity Investment for North Carolina Project

NYSERDA Announces $10 Million Available to Launch New Cleantech Accelerator

NEXTracker sales surge for Series 6 Mounting Systems across 600MW of new projects

Large-scale solar shines in Queensland during record year

OIL AND GAS
European wind energy generation potential in a warmer world

New York to world's largest offshore wildlife aerial survey

German utility E.ON sees renewable sector growth

Germany's E.ON wants even bigger wind footprint

OIL AND GAS
Nuclear Waste Management Organization Signs Co-Operation Agreements With International Partners

Demonstration proves nuclear fission system can provide space exploration power

Framatome and Vattenfall sign contracts for the delivery of fuel assembly reloads

Balancing nuclear and renewable energy

OIL AND GAS
Schwarzenegger urges Trump to 'join us' on climate action

GRACE-FO Will Help Monitor Droughts

Projecting climate change along the Millennium Silk Road in a warmer world

Lives in the balance as UN debates climate finance

OIL AND GAS
How even one automated, connected vehicle can improve safety and save energy in traffic

Tesla chief defends self-driving cars after new crash

Germany orders Porsche recall over diesel emissions cheating

BMW to be first foreign firm to test self-driving car in China

OIL AND GAS
As former US foe gains, Mattis 'stands with' Iraq election result

Iraq rivals jostle for power after cleric Sadr's shock win

Fiery cleric, paramilitary leader surge at Iraq elections

Iraq says election candidate killed in family dispute, after IS claim

OIL AND GAS
N. Korea to join efforts for total nuclear weapons test ban

North Korea threatens to cancel US summit

Dismantling of N. Korea nuclear site 'well under way': US monitor

Iran FM in Moscow as Russia moves to save nuclear deal









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.