Russia Archives - Page 49 of 52 -

Rosneft to Invest $14 Billion in Venezuela’s Oil and Gas Sector

May 29, 2015

Investment is expected to double current production Venezuelan President Nicolas Maduro said that Russia’s top oil producer, Rosneft (ticker: RNFTF), agreed to invest around $14 billion in the South American OPEC country’s oil and gas sector. Maduro met with Rosneft CEO Igor Sechin and Venezuela state-owned PDVSA’s president, Eulogio del Pino, Wednesday, reports Reuters. “We had a great meeting and

Tokyo Gas Wants to Build a Natural Gas Pipeline to Russia

May 27, 2015

A consultant with Japan’s largest gas company said they are interested in building a $3.5 billion pipeline to obtain Russia’s natural gas at half the cost of its LNG Tokyo Gas, Japan’s largest gas company, would like to build a gas pipeline from Sakhalin, Russia, to central Japan, Shigeru Muraki, a consultant for the company, said at the third annual

Norway Surpasses Russia as Western Europe’s Top Gas Supplier

May 26, 2015

Efforts to cut gas supplies from Russia appear to be working Norway state-owned gas operator Gassco reported that the country exported 29.2 Bcm of gas to western Europe in the first quarter of the year, overtaking Russian exports to Europe of 20.29 Bcm, based on data from Gazprom (ticker: OGZPY). Data from both companies shows the trend began in Q4

The E.U. is Lobbying for the U.S. to End the Crude Oil Export Ban

May 19, 2015

The E.U. joins voices calling for an end to the U.S. export ban Many have called for the end of the crude oil export ban from the United States, saying the legislation is a relic of a global energy picture that no longer reflects reality. Among a myriad of financial and business reasons often cited for lifting the ban, research

Oil & Gas 360® International Update

May 15, 2015

News from around the globe China plans to spin off pipeline assets into a new company, Iran raises its oil prices by 9%, India attracts bids for a new LNG import facility and Russia is adjusting its mining taxes. China looks to create new pipeline business China’s economic planning agency, the National Development and Reform Commission (NDRC) is leading talks

Crimea to Receive Oil and Gas Equipment Despite Sanctions

April 24, 2015

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

Improving U.S. and Russian Relations

April 15, 2015

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 Strengthening Ties with Vietnam

April 8, 2015

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

U.S. Crowned the World’s Largest Producer in 2014

April 7, 2015

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

Power of Siberia May be Put on Hold

March 27, 2015

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

Total Continues to Bet on Russian Projects

March 24, 2015

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

Ukraine Aims to Nearly Double Gas Transit Tariff

March 19, 2015

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

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