Chinese company Kerui is looking to register as a business in Crimea to make supplying equipment easier China’s Kerui is set to deliver oil and gas equipment to Crimea, the company’s vice president, Wang Bin, told Tass during a Russian-Chinese business forum on Wednesday. Crimea and Russia have both struggled to continue exploring for oil and gas as Western sanctions
Russian ambassador in Denver to increase understanding between the U.S. and Russia At a private event in Denver on Tuesday, Sergey Kislyak, Russia’s ambassador to the United States, expressed his hopes that tensions that have existed between the U.S. and Russia since the Cold War might one day be ended in earnest. U.S.-Russian relations are at a low-point currently, the
Russia buys 49% stake in Vietnamese refinery Gazprom Neft (ticker: GZPFY), the oil arm of Russian state-owned Gazprom (ticker: OGZPY), and Vietnam Oil and Gas Group (PetroVietnam) have signed a series of agreements to strengthen ties between the oil and gas industries in the two nations. As part of the agreement, Gazprom Neft will acquire a 49% stake in the
EIA: U.S. remains the largest hydrocarbon producer for the third straight year The United States remained the world’s top producer of petroleum and natural gas hydrocarbons in 2014, according to Energy Information Administration (EIA) estimates. U.S. petroleum production increased by 3 quadrillion Btu (1.6 MMBOPD) in 2014, while natural gas production increased by 5 quadrillion Btu (13.9 Bcf/d) over the
Russia’s major pipeline to China may be put on hold State-owned oil major Gazprom (ticker: OGZPY) may put its Power of Siberia gas pipeline project on hold, according to sources close to the company. The project may be put off until Moscow completes a separate, smaller project to send gas from existing fields to China through the Altai pipeline project
The French oil major is looking for up $15 billion in Chinese financing to develop projects in Russia Many companies are trying to steer clear of extra risk in Russia as the West continues to add new sanctions against the country since it annexed Crimea early last year. Oil majors like Chevron (ticker: CVX) and ExxonMobil (ticker: XOM) have pulled
Ukrainian Energy Minister hopes to nearly double the tariff on gas transit in the country Ukrainian Minister of Energy and Coal, Vladimir Demchishin, plans on using the upcoming March 20 meeting between Ukraine, Russia and the European Union to discuss increasing the transit tariff of Russian gas. Demchishin said: “The present-day rate is at $2.88 per 100km. While comparing the
Russia will supply 35 LNG shipments to Egypt starting later this year The Egyptian Natural Gas Holding Company (EGAS) has signed a five-year contract with Russia’s state-owned Gazprom (ticker: OGZPY) for the supply of liquefied natural gas (LNG). The contract stipulates the supply of 35 LNG shipments, or seven shipments per year for five years, according to Egypt’s Ministry of
Glencore plans to convert shares in subsidiaries of Russia’s Russneft into a 49% stake in the company Swiss mining giant Glencore (ticker: GLEN) plans to take a 49% stake in Russian oil producer Russneft (ticker: RUSN) by exchanging Glencore’s shares in Russneft’s subsidiaries for shares in the holding company, according to a release from the Swiss company. This news comes
Germany’s RWE utility company completes sale to Russian firm despite opposition from the U.K. government. German utility RWE AG (ticker: RWE:XETRA) closed the sale of its oil and gas unit Dea for €5.1 billion ($5.7 billion) to LetterOne Group, an investment firm headed by Mikhail Fridman, who has strong ties with Russian business. The U.K.’s Department of Energy and Climate Change (DECC)
The Kremlin is thinking of giving majority control of major oil fields to Chinese investors in order to develop energy reserves Russia may consider allowing Chinese investors more than 50% stake in its strategic oil and gas fields, an official said last Friday to The Moscow Times. The decision, a complete change in previous policy, highlights Moscow’s need for foreign
Canadian Prime Minister Stephen Harper imposed new sanctions on Russia this week, including on Rosneft Stephen Harper’s government announced Tuesday the expansion of sanctions against Russia for its involvement in Ukraine. The expanded sanctions target Russia’s largest oil producer, Rosneft (ticker: RNFTF), as well as Rostec, which encompasses weapons, cars and metals. Canada had previously resisted sanctioning both companies because
