Russia Archives - Page 47 of 52 -

Schlumberger Approaches Deadline on $1.7 Billion Russian Acquisition

September 24, 2015

Schlumberger waits for approval from Russia’s Federal Antimonopoly Service Oilfield service giant Schlumberger (ticker: SLB) is quickly approaching the most recent deadline for the acquisition of Russian oilfield service company Eurasia Drilling Company (ticker: EDC). The deal was originally announced in January, despite the increasingly strict sanctions from the West on Russia for its involvement in Crimea, and the fall

Nord Stream 2 Gas Pipeline Could Pose Risk for Gazprom

September 22, 2015

Gazprom faces obstacles to financing $11 billion project in current market – Fitch Ratings Russian gas giant Gazprom (ticker: OGZPY) may not have the financial strength to follow through on the construction of its Nord Stream 2 project, according to a report from credit ratings agency Fitch. According to the rating agency, Nord Stream 2 may hurt the company’s commercial

The Ruble in Flux

September 18, 2015

Russia at risk of a Fed rate-raise – Moody’s A report from Moody’s Investors Service named Russia among four emerging markets most at risk from a potential increase in the U.S. interest rate, news that sent the ruble falling in value against the dollar for the first time in four days. The Russian currency slipped 0.6% to 65.86 to the

Venezuela Calls for Setting a Policy that Establishes a Minimum Oil Price

September 16, 2015

President Maduro to the world’s oil producers: “The minimum, minimum price should be $70” Oil producing countries have been negatively affected by the dramatic fall in the price of oil since the middle of last year, and some have been hit harder than others. Venezuela, in particular, is one OPEC member that is feeling the pressure. Why? Because 95% of

Gazprom Takes New Approach with Natural Gas Auction

September 8, 2015

Gazprom makes first steps towards spot market pricing with natural gas auction Russia’s state-owned gas giant Gazprom (ticker: OGZPY) announced that it will hold a natural gas auction in Europe as the company explores new ways to expand its market share. Traditionally, Gazprom’s gas contracts have been linked to oil prices, a formula the company has fought to maintain despite

Ukraine Calls for Another Gas Deal, 20% Debt Write-Down with Russia

August 31, 2015

Ukraine hopes to return to last winter’s gas deal Ukrainian Prime Minister Arseniy Yatsenyuk said last Friday that Ukraine and Russia should implement a similar deal to the one reached last winter for the coming months, reports the Associated Press. “We are convinced that the only mechanism to ensure a gas transit to the E.U. as well as stable supplies

U.S. Expands Oil and Gas Sanctions Against Russia

August 7, 2015

U.S. uses expanded version of sanctions on Yuzhno-Kirinskoye Field The U.S. expanded its sanctions against Russia today, announcing that it would be adding the Yuzhno-Kirinskoye Field in the Sea of Okhotsk, to the Entity List maintatined in the Export Administration Regulations, 15 C.F.R. Parts 730-774 (EAR). As a result of the decision, the exportation, reexportation, or in-country transfer to this

Russia is the World’s Largest Producer of Crude Oil and Lease Condensate – EIA

August 6, 2015

Russia produced roughly 10.9 MMBOPD in 2014 While the United States became the world’s largest producer of hydrocarbons in 2014, Russia remained the largest producer of crude oil and lease condensate, according to the U.S. Energy Information Administration (EIA). In 2014, the country produced an average of 10.9 MMBOPD of crude oil and condensate. Russia exported more than 4.7 MMBOPD

Rosneft Asks Russia for an End to Gazprom’s Export Monopoly

July 23, 2015

Update: Energy Minister Wants to Maintain Monopoly Alexander Novak, the Energy Minister of the Russian Federation, came out in favor of continuing Gazprom’s monopoly of exporting pipeline natural gas on July 28, reports Russian news agency Tass. “We are focusing on maintaining a single export channel,” he said at a Chamber of Commerce meeting. A letter sent by Rosneft to

Gazprom Gas Production Down 19% Year-over-Year

July 22, 2015

Russia’s gas giant faces falling demand at home and abroad, lowest output in company history Gazprom (ticker: OGZPY), Russia’s state-owned gas giant, is seeing rapidly declining production as demand for its gas falls both at home and abroad. The company’s output in June fell by 19% compared to the same month in 2014 to a record low of 24.7 Bcm,

Europe’s Natural Gas Demand Down 22% since 2010 and Falling

July 21, 2015

The E.U. is the only major economy showing steady declines in natural gas demand Demand for natural gas has been growing around the world, albeit at a slower pace than many had hoped, but the European market has actually show a decline in natural gas demand since 2010. All other major gas consuming countries have shown increases in demand going

European Refiners Looking Forward to Receiving Iranian Crude

July 16, 2015

Lower prices for Iran’s oil mean better margins for refiners, competition for Russia Refineries across Europe are anticipating the return of Iranian crude oil to their operations, and the potentially higher margins as added crude pushes prices down further. Approximately 27.5% of Iran’s crude exports were to Europe in 2011, and refiners are excited to see the crude return, according

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