Russian Energy Minister Alexander Novak said the two countries are looking to increase energy ties Moscow is considering shipping natural gas directly to Greece through the Turkish Stream Pipeline, which it hopes to build across Greek territory, reports International Business Times. The pipeline is planned to have a capacity of 47 billion cubic meters per annum, with construction costs of
Turkmenistan’s gas company says Gazprom has yet to pay for Turkish gas this year An official release from Turkmenistan’s state-run Turkmengas claimed that Russia’s gas giant Gazprom (ticker: OGZPY) had “become an insolvent partner … due to the continued global economic crisis and Western sanctions against Russia.” “Since the beginning of 2015, Gazprom has not paid its debts to Turkmengas
Russia offers $40 per Mcm discount on gas, but Ukraine says no Russian state-owned energy giant Gazprom (ticker: OGZPY) announced that it is halting gas flows to Ukraine amid a pricing dispute. Gazprom CEO Alexi Miller said Gazprom has not received advanced payment for deliveries of natural gas for July, and will not deliver gas to Ukraine at any price
New pipeline represents the first infrastructure deal between the two countries since the 1970s Pakistan is expected to sign an agreement with Russia for the construction of a 1,100 km (about 684 mile) liquefied natural gas (LNG) pipeline from Karachi in southern Pakistan to Lahore in the North. Under the partnership, Russia will provide $2 billion to lay the pipeline,
Over 200 agreements signed as part of St Petersburg economic forum The St Petersburg International Economic Forum (SPIEF) saw 205 deals signed by various companies. Russian oil major Rosneft (ticker: RNFTF) was one of the most active companies at the event, signing 58 agreements, according to the company. In total, the 205 deals amounted to $293.4 billion, according to Rosneft. Attendance
Pennsylvania’s shale gas, affordable prices, preferred over Russian gas Representatives from about 15 European embassies were in attendance during a recent meeting of the Williamsport-Lycoming Chamber of Commerce to discuss lifting the ban of exports of U.S. crude oil and natural gas, and to tour a Halliburton (ticker: HAL) facility in Pennsylvania, reports The PA Media Group. Many of them
The Russian oil and gas industry sees prices remaining stable at ~$60-$65 per barrel During the St. Petersburg International Economic Forum, Lukoil (ticker: LKOH) CEO Vagit Alekperov said that he expects oil prices to remain relatively stable moving forward. When asked where he saw oil prices going by the end of 2015 he said, “I think it will range from
Coast Guard seeks to deliver protection against “invisible” attacks. United States Coast Guard Commandant Vice Adm. Paul F. Zukunft in a keynote address at the Center for Strategic and International Studies on June 15 said that while the U.S. port facilities have hardened their perimeters and they now notify the U.S. Coast Guard of intrusions in order to identify possible coordinated attacks, there is a notable hole
Attendance at this year’s St. Petersburg International Economic Forum (SPIEF) is up from a year ago when many Western companies decided to decline invitations in the wake of Russia’s involvement in Ukraine. This year, many American companies have decided to abstain from attending again, but many European oil majors joined their Russian counterparts in St. Petersburg to announce over $1
“Political differences do not strongly affect serious business”: European majors eye slate of upcoming opportunities Attendance at Russia’s St. Petersburg International Economic Forum is up from last year after many Western companies decided to back out of last year’s conference following Russia’s annexation of Crimea. “A week before the beginning of the forum we have 5,072 confirmed applications, which is
Exclusive Oil & Gas 360® Pre-OPEC Interview with Former Shell Oil President With all eyes peering toward Vienna tomorrow, analysts and experts are in near lockstep that OPEC will maintain production, with a few saying it may raise its cap which OPEC has out-produced for the last 12 months. Oil & Gas 360® interviewed John Hofmeister, former President of Shell
Rosneft alone contributes about 25% of the country’s total tax revenue; commodities price cut taking its toll Russian state-owned oil giant Rosneft (ticker: RNFTF) was denied aid by the Russian Finance Ministry, according to reports from Russian news source Vedomosti. The $25 billion aid package was approved by the Economic Development Ministry, but then rejected after being sent to the
