Latest news with #AlexanderDyukov
Reuters
15 hours ago
- Business
- Reuters
US, Chinese strategic reserve buys may offset oil surplus, Russia's Gazprom Neft says
ST PETERSBURG, June 20 (Reuters) - U.S. and Chinese purchases for strategic oil reserves are expected to offset any potential global surplus, keeping oil prices in check, the head of the Russian oil producer Gazprom Neft ( opens new tab said on Friday. The eight members of OPEC+, which groups OPEC and other producers led by Russia, are unwinding voluntary production cuts and have agreed monthly increases for April through July, when they will meet to decide on August production. OPEC+ production growth in the coming months is unlikely to lead to market overstocking, said Alexander Dyukov, CEO of Gazprom Neft, the oil arm of Russian energy giant Gazprom ( opens new tab. It is also not expected to affect prices, he told journalists at an economic forum in Saint Petersburg. "The new U.S. administration has set the task of replenishing strategic oil reserves as soon as possible, which have fallen to about 400 million barrels - less than 20 days of consumption - with storage capacity of over 700 million barrels," he said. "China has announced that it will accelerate the replenishment of strategic fuel reserves planned for this year," he added.
Yahoo
15 hours ago
- Business
- Yahoo
US, Chinese strategic reserve buys may offset oil surplus, Russia's Gazprom Neft says
ST PETERSBURG (Reuters) -U.S. and Chinese purchases for strategic oil reserves are expected to offset any potential global surplus, keeping oil prices in check, the head of the Russian oil producer Gazprom Neft said on Friday. The eight members of OPEC+, which groups OPEC and other producers led by Russia, are unwinding voluntary production cuts and have agreed monthly increases for April through July, when they will meet to decide on August production. OPEC+ production growth in the coming months is unlikely to lead to market overstocking, said Alexander Dyukov, CEO of Gazprom Neft, the oil arm of Russian energy giant Gazprom. It is also not expected to affect prices, he told journalists at an economic forum in Saint Petersburg. "The new U.S. administration has set the task of replenishing strategic oil reserves as soon as possible, which have fallen to about 400 million barrels - less than 20 days of consumption - with storage capacity of over 700 million barrels," he said. "China has announced that it will accelerate the replenishment of strategic fuel reserves planned for this year," he added.
Zawya
18-03-2025
- Business
- Zawya
Russia's Gazprom Neft ready to raise oil output under OPEC+ deal, CEO says
Gazprom Neft is ready to raise oil output from April under the OPEC+ agreement, the head of the Russian oil producer said on Tuesday. The company does not plan to reduce oil refining in 2025 after a record refining volume in 2024, Alexander Dyukov, the CEO, added. Gazprom Neft has been adapting to Western sanctions and plans to increase investments in 2025, Dyukov said. The market price for Urals oil in roubles is "quite acceptable" for the company, he added. (Reporting by Olesya Astakhova; Writing by Gleb Stolyarov; Editing by Andrew Osborn)
Reuters
18-03-2025
- Business
- Reuters
Russia's Gazprom Neft ready to raise oil output under OPEC+ deal, CEO says
MOSCOW, March 18 (Reuters) - Gazprom Neft ( opens new tab is ready to raise oil output from April under the OPEC+ agreement, the head of the Russian oil producer said on Tuesday. The company does not plan to reduce oil refining in 2025 after a record refining volume in 2024, Alexander Dyukov, the CEO, added. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. Gazprom Neft has been adapting to Western sanctions and plans to increase investments in 2025, Dyukov said. The market price for Urals oil in roubles is "quite acceptable" for the company, he added.
