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Tag Archives: Russia

Putin inaugurates final power link to Crimea

Vladimir Putin

MOSCOW (AP) — Russia’s president has flipped the switch to open the last of four electricity lines to Crimea aimed at allowing the Russia-annexed peninsula to end its reliance on Ukrainian power. The line from the Russian mainland that Vladimir Putin inaugurated on Wednesday brings Russia’s electricity supply to Crimea to 800 megawatts a day. Russia annexed Crimea in March ...

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Shaking hands with the devil: the deepest hole ever drilled

The Kola Superdeep Borehole drilling rig enclosure standing over 200 feet tall. (Image via Creative Commons)

During the Cold War, while the Space Race pitted the Soviet Union against the United States to conquer the skies, the two countries were also vying to drill as deep as possible into the earth. The USSR embarked on drilling a hole in 1970 on the Kola Peninsula located east of Finland.  By 1983 the project, named the Kola Superdeep ...

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Russia’s Putin says global deal to cap oil output is close

MOSCOW (AP) — Russian President Vladimir Putin says the country is close to an international deal to cap oil output and that any agreement will have the backing of Russia’s oil sector. Saudi Arabia, Russia, Venezuela and Qatar floated a production cap last month, but it was conditional on other producers joining in. Addressing top state and private sector oil ...

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Russian coal mine accident kills 36, including 5 rescuers

Russian coal mine accident kills 36, including 5 rescuers

MOSCOW (AP) — A methane gas leak at a coal mine in Russia’s far north triggered three explosions that ignited fires and partially collapsed the mine, killing 36 people, officials said Sunday. The dead included five rescue workers and a mine worker who were killed early Sunday when the third explosion rocked the Severnaya mine in Vorkuta, a town north ...

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Nigerian Navy rescues second hijacked ship in a week

Nigeria, oil tanker, pirates, hijacked, navy

WARRI, Nigeria (AP) — The Nigerian Navy says it has rescued a hijacked offshore oil supply ship but pirates escaped with two crew members from Russia and Nigeria. It’s the second rescue in a week. On Saturday, the navy recovered an oil tanker in a high seas shootout that killed one of the pirates. Six hijackers were arrested but two ...

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UAE energy minister refuses to discuss tentative oil cap

UAE energy minister refuses to discuss tentative oil cap

DUBAI, United Arab Emirates (AP) — Dodging reporters’ questions, the United Arab Emirates’ energy minister refused Wednesday to discuss a proposed cap to crude oil production agreed to by four oil-producing countries the day before, raising new questions about the proposal aimed at stabilizing global prices. Minister Suhail Mohamed al-Mazrouei’s stance suggests regional rivalries also may be in play, as ...

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Russia, Saudis tentatively offer to freeze oil production levels

Russia, Saudis tentatively offer to freeze oil production levels

DUBAI, United Arab Emirates — Russia’s energy minister said Tuesday that his country has agreed with OPEC members Saudi Arabia, Qatar and Venezuela to freeze oil production levels if other producers do the same. The ministry quoted Energy Minister Alexander Novak announcing the decision following an unexpected, closed-door meeting involving the four countries in the Qatari capital, Doha. The meeting ...

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Russia: No firm plans to coordinate oil output with OPEC

Russia: No firm plans to coordinate oil output with OPEC

MOSCOW — The Kremlin says there are no concrete plans to cut oil output in coordination with major producers Saudi Arabia and OPEC. Spokesman Dmitry Peskov told reporters on Thursday that Russia is “actively discussing the instability of oil markets,” with Saudi Arabia and OPEC, but, as of yet, there are no conclusions from the talks. On Wednesday, the head ...

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Russian ruble hits a new low as oil prices weaken

People walk at a street passing an exchange booth in Moscow, Russia, Monday, Jan. 18, 2016. The Russian ruble, battered by weak oil prices, on Monday dropped to new low and broke an all-time record against the euro. (AP Photo/Ivan Sekretarev)

MOSCOW — The Russian ruble, battered by weak oil prices, on Monday fell to an all-time low against the euro and dropped to its lowest level in more than a year against the dollar. The Central Bank set the official exchange rate at over 85 rubles to the euro on Monday. The national currency declined by 2 percent to 79.1 ...

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