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Novak, Shulginov Speak at Energy Ministry Event

RUSSIA
  • Deputy Prime Minister Alexander Novak and Energy Minister Nikolai Shulginov have been participating in the Energy Ministry’s annual meeting to discuss 2022 results and 2023 priorities. Comments from the pair have been crossing wires, Novak says Russia requires new insurance mechanisms for oil shipments while Shulginov has said Russia sees lower oil and gas output in 2023, and that it is important that oil-export flows continue.
  • The Wall Street Journal report that Ukraine is preparing to launch its own offensive, which analysts say could aim south toward the Sea of Azov, a band of territory including Melitopol and Mariupol that Russia has occupied since early in its 2022 invasion.
  • Natural gas production in Russia dropped in January-February by 9.5% y/y to 119.4bcm, Vedomosti reports, citing two unidentified people familiar with official statistics. February production fell by 8.7% y/y to 56.7bcm while January’s decline was 9.7% to 62.7bcm.
  • Deputy finance ministers Vladimir Kolychev and Aleksey Moiseev take part in a Finance Ministry’s event in Moscow at 0900BST/1100 local time.

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