Subscribe to our free daily newsletters
  Oil and Gas News from OilGasDaily.Com  




Subscribe to our free daily newsletters



OIL AND GAS
Russia sees poverty as a "striking problem" despite oil wealth
by Daniel J. Graeber
Washington (UPI) Nov 30, 2017


Russia, whose economy relies heavily on oil and natural gas revenue, needs to take "real steps" at combating poverty, the prime minister said.

"It is important that with our consolidated efforts we take real steps aimed at combating poverty," Russian Prime Ministry Dmitry Medvedev was quoted by Russian news agency Tass as saying.

The World Bank found the Russia's poverty level last year was the highest it's been in more than a decade. Last year, 13.5 percent of the population lived at or below the poverty line.

"Declining inflation and growing real wages led to a modest decline in Russia's poverty rate in the first half of 2017, compared to the same period last year," Andras Horvai, the bank's country director for Russia, said in a statement. "However, the current poverty rate at 14.4 percent remains elevated and the share of vulnerable people, who may fall back to poverty, is still on the rise."

In its latest estimate, the Central Bank of Russia said inflation was around 2.7 percent, below its target rate of 4 percent. In mid-November, the International Monetary Fund said inflation will likely stay below the target rate through the end of the year, but move closer to 4 percent next year.

Mikhail Mishustin, the head of the Federal Taxation Service, said federal coffers received $240 billion in tax collections over the last 10 months, which was 19.1 percent higher than during the same period one year ago.

The prime minister said that, despite the growth, poverty was "one of the most striking problems of our modern economy."

Russia's currency lost considerable value at the start of last year and the broader economy faced dual strains from lower crude oil prices and economic sanctions imposed after the 2014 annexation of the Crimean Peninsula from Ukraine.

Russia is party to a multilateral effort, led by the Organization of Petroleum Exporting Countries, to trim the surplus of global crude oil inventories with coordinated production declines. It's also the largest non-OPEC contributor.

Total Russian crude oil production is up 1.8 percent from January. The nation's energy ministry published no data for natural gas production, though the country is a main supplier to the European economy. Total crude oil exports are up 5 percent since the beginning of the year.

OIL AND GAS
Oil producers agree extension of output curbs: Iraq
Vienna (AFP) Nov 30, 2017
Oil producer nations agreed Thursday to keep production curbs in place for another nine months until the end of 2018, Iraq's oil minister said after talks in Vienna. The extension by 24 nations "is nine months" from March 31 until the end of 2018, Jabbar al-Luaibi told reporters after talks in Vienna. The producers were expected to confirm the agreement at a news conference shortly. ... read more

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

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
Cleaning Okinawan pig farm wastewater with microbial fuel cells

Brazilian ethanol can replace 13 percent of global crude oil consumption

The water world of ancient photosynthetic organisms

Surrey develops new 'supercatalyst' to recycle carbon dioxide and methane

OIL AND GAS
Burkina, France launch W.Africa's biggest solar plant

Improving solar cells by watching atoms move in hybrid perovskite crystals

Artificial photosynthesis gets big boost from new catalyst

Glass microparticles enhance solar cells efficiency

OIL AND GAS
U.S. wind turbines getting taller and more efficient

New wind farm in service off the British coast

End tax credits for wind energy, Tennessee Republican says

New York sets high bar for wind energy

OIL AND GAS
For Gabon's sickly uranium miners, a long quest for compensation

Belarus nuclear power plant stirs fears in Lithuania

Lightbridge and AREVA NP Sign Agreements to Immediately Advance Fuel Development

UK made grave errors over Hinkley nuclear project: MPs

OIL AND GAS
Canada to explore trade, climate change fight, with China

Moroccans pray for rain as 'mercy from God'

Spain, Portugal struggle with extreme drought

Climate change encouraged 19th century migration to America

OIL AND GAS
Norway puts brakes on plans for 'Tesla tax'

SoftBank offer for Uber shares to cut valuation: reports

Traffic-weary Chinese man fined for repainting road lines

Driverless, electric future just round the corner for urban cars

OIL AND GAS
Baghdad cafe marks 100 years as intellectual hub

Suicide bombers kill 11 in Iraq attack claimed by IS

Iraq to resume paying war reparations to Kuwait

Iraq attacks at lowest since IS 'caliphate' declared: study

OIL AND GAS
Greenpeace sounds alarm on nuclear safety with new break-in

UN Security Council faces calls for more N.Korea sanctions

DPRK Missile Launch: Frequency over Amplitude

N. Korea tests ICBM in fresh challenge to Trump




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - 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. Privacy Statement