Sale of major Rosneft stake to CNPC signals strengthening ties between China and Russia China National Petroleum Corp. Deputy Chief Executive Wang Zhongcai said the company is interested in purchasing a stake in Rosneft, Russia’s state-owned oil company. The sale would strengthen the ties between the two countries, which have increasingly been working together on energy projects. Russia needs the
Saudi Arabia and Russia vie for market share in China Monthly oil imports to China in February were 20% higher in 2016 than the year before. The increased level of imports in February were the highest ever on a daily basis as the country takes advantage of low oil prices to increase stockpiles, reports Reuters. Saudi Arabia made up the
Indian energy consortium increases shares in Russian oil fields Russia and India strengthened their ties over the weekend with several agreements which will increase Russia’s share in India’s energy markets and give India a greater share in a number of upstream projects in Russia. Russia’s state-owned oil giant Rosneft (ticker: RNFTF), Oil India, Indian Oil and Bharat Petroresources signed a
Deputy Chairman Medvedev says there’s no reason to start a price war with the U.S. Russia’s state-controlled gas giant Gazprom (ticker: OGZPY, Gazprom.com) has no plans to start a price war with the U.S. over natural gas in Europe, according to company deputy chairman Alexander Medvedev. “There is no need for us to launch any price war,” Medvedev told investors
ConocoPhillips sells stake in Rosneft joint venture Five years ago, U.S. oil major ConocoPhillips (ticker: COP) sold its single largest asset in Russia, a stake in Lukoil (ticker: LKOH), for $9.5 billion. Last week COP announced that it has sold its 50% stake in the Polar Lights joint venture with Russian state-owned oil company Rosneft (ticker: RNFTF), its last project
Exploration is a Major Part of Our Future During his time in office, both as the Russian president and prime minister, President Vladimir Putin has held a conference every year. The conference is held with members of the press, both Russian and international, and typically involves reporters asking questions of Putin who then responds off the cuff, though it is
The new export duty in Russia will be $88.40 per ton The export duty on oil in Russia will decrease to $88.40 per ton starting December 1, Alexander Sakovich of the Russian Finance Ministry told TASS. The new export duty represents a 9% decrease from the $97.10 per ton being charged in November. Oil and gas export duties represent a
Japan increasingly buying its oil from Russia Russia and Japan are becoming increasingly close energy partners, a trend that Igor Sechin, CEO of Rosneft (ticker: RNFTF) believes will continue into the future. Sechin said today that Russia’s oil exports to Japan rose 20% year-on-year in January-August 2015 despite a mutual decline in trade, Sechin said during a Russia-Japan energy cooperation
Russia Experts Discuss How Today’s Commodities Prices and Shifting Market Dynamics are affecting the Russian Oil & Gas Industry in this Exclusive Oil & Gas 360® Analysis Around the world, in places where oil and gas is a dominant resource, countries, kingdoms, companies and individual billionaires have been created by the extraction and sale of these fuels. The continuing importance
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
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
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
