New Iranian Oil Volumes Could Hit the Market as Early as Oct. 2015 Chairman of global oil and gas consultancy FGE, Dr. Fereidun Fesharaki, in a conference call organized by Credit Suisse, said he believes that the basics of an agreement are already in place and that a deal could be announced in the first week of July. Dr. Fesharaki
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
With the deadline for peace talks fast approaching, the actual amount of Iranian oil that could reach markets may not be the torrent some predict The March 31 deadline for a nuclear deal with Tehran has arrived, and the market is watching. Many worry that lifting sanctions, initially imposed due to disagreements concerning Iran’s nuclear program, would let Iran’s remaining
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
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
Russia’s oil and gas industry faces many obstacles in today’s market, but sanctions may be causing the most damage For the first time in a decade Russia’s credit rating was downgraded to junk by Standard & Poor’s rating agency last week as the Russian economy continues to weaken under the weight of an increasingly bleak outlook. Low oil prices have
Earlier this year, the U.S. and the E.U. began a sanction regime against Russia in response to the ongoing crisis in Ukraine. The sanctions are being used to target specific industries in the Russian economy, particularly oil and gas, the defense industry and the banking sector. Some companies, such as Russia’s oil company Rosneft (ticker: ROSN), have hired lobbyists to
President Obama addressed the nation on Wednesday night, urging Congress to increase funding, assistance and conduct “a series of strategic airstrikes” against the Islamic State, or ISIL, the group marching across Iraq that recently beheaded two American journalists on Internet broadcasts. The President vowed to support the Iraqi government by providing military training and supplies, but stopped short of placing
Russia and Iraq are giants in the hydrocarbon industry. The two powerhouses were the third and sixth greatest oil producers in 2012, and Iraq’s oil reserves rank fifth in the entire world. Russia’s natural gas reserves are the highest on the planet, and its 2012 production average of 63.4 Bcf/d allowed it to export 76% of its natural gas across
