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Archive for Oil, Gas, Energy

Russia is ready to negotiate on gas issue with Ukraine, EU

Gas Flame file photo

(Business New Europe – bne.eu – Concorde Capital – April 24, 2014) The Russian Energy Ministry has offered EU Energy Commissioner GYnther Oettinger to convene negotiations with EU and Ukraine on “natural gas issues” in Moscow on April 28, Interfax reported on April 23 citing a ministry representative. “We are ready to discuss with partners

Ukraine’s Unpaid Russian Gas Bills Dwarf U.S. Aid Offer

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(Bloomberg – bloomberg.com – Joe Carroll, Nicole Gaouette and Julianna Goldman – April 23, 2014) Ukraine’s best hope for keeping furnaces and factories running through next winter is to store as much natural gas as it can after a U.S. aid pledge fell far short of the nation’s needs. Energy supplies have given Russian leader

Will Ukraine be able to find an alternative to Gazprom?

Russian Gas Facility file photo

(Russia Beyond the Headlines – rbth.ru – Alexei Lossan, RBTH – April 15, 2014) After seeing its gas discounts canceled by the Russian gas giant, Kyiv is seeking alternatives to purchasing gas directly from Russia. Ukraine has proposed obtaining more than 50 percent of its gas by reversing gas flows from the EU, but Gazprom

Russia Beyond the Headlines: Why giving up Russian gas is not an option for the EU

Russian Gas Facility file photo

(Russia Beyond the Headlines – rbth.ru – Tatyana Zykova, special to RBTH - April 10, 2014) Despite talk in Europe of reducing dependence on Russian fuel and promises of help from the U.S., for the foreseeable future Russia remains the only country that can supply the EU with an increasing supply of cheap gas. The European

RIA Novosti: Opinion: EU, US Would Not Be Patient With Ukraine on Gas Issue

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MOSCOW, April 11 (RIA Novosti) – US and EU energy companies would not tolerate the delays in payment by Ukraine that Russia has faced, an economist at the London Vanguard investment firm told the Voice of Russia radio station Friday. “Historically, since the end of the USSR, Ukraine has repeatedly failed to pay for its

Russia not to switch energy supplies from west to east over Ukraine – official

File Photo of Blue Flame from Natural Gas

(RIA Novosti – Beijing, April 0, 2014) Russia does not intend to switch energy exports from the western to the eastern direction because of an escalation of tension over Ukraine, Deputy Prime Minister Arkadiy Dvorkovich said on Wednesday [9 April] after a meeting with the co-chairs of the Russia-China energy cooperation committee . “At the

New Sanctions May Freeze South Stream Pipeline

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(Moscow Times – themoscowtimes.com – Alexander Panin – April 9, 2014) As the EU presses on with sanctions against Russia for seizing Crimea, the $50 billion South Stream pipeline, meant to bring Russian gas through the Black Sea to Europe, may be frozen in favor of other projects. The European Union is close to freezing

Ukraine Says Russian Gas Transit to Europe Under Threat

Russian Gas Facility file photo

BRUSSELS, April 8 (RIA Novosti) – Russia’s set price on gas for Ukraine is unfairly high and is creating a threat of transiting Russian gas to Europe, Ukrainian Energy Minister Yuriy Prodan said Tuesday. “In this situation, the threat of cutting gas deliveries to Ukraine arises, as well as the threat of cutting transit gas

Gas Replaces Weapons in New Russia-West Standoff

Gas Flame file photo

(Moscow Times – themoscowtimes.com – Alexander Panin – April 8, 2014) As the worst standoff since the Cold War emerges, energy and economic diplomacy are the tools the West applies to contain Russia, expecting them to be more effective than military confrontation. Business executives and energy industry analysts, however, were doubtful that these tools had

German Companies Remain Supportive of South Stream Gas Pipe

Gas Flame file photo

(Moscow Times – themoscowtimes.com – Alexander Panin – April 7, 2014) While Russia’s standoff with the West over Ukraine may have caused Italian energy group Eni to distance itself from the huge South Stream gas pipeline project linking Russia to Central Europe, partners from Germany, which is highly dependent on Russian gas, have stayed faithful.

RIA Novosti: US Can’t Replace Russian Gas in Ukraine – Gazprom

Gas Flame file photo

MOSCOW, April 7 (RIA Novosti) – American gas cannot become an alternative to the Russian fuel in Ukraine for the lack of “vacant export objects” in the foreseeable future, said Sergey Kupriyanov an official spokesperson for Gazprom in his interview with TV-channel Rossiya 24 Saturday. He stressed that the claims of Ukranian authorities about possibly

Interfax: Russia’s Gazprom head says Ukraine gas debt can’t go on forever

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(Interfax – March 5, 2014) Ukraine must pay its debt for gas supplied by Russia based on the contracts signed in 2009, Aleksey Miller, the head of Russian gas giant Gazprom, has said, as reported by privately-owned Russian news agency Interfax on 5 April. Meanwhile, Gazprom spokesman Sergey Kupriyanov has said Ukraine has no grounds

RIA Novosti: Europe Lacks Realistic Alternative to Russian Energy Supplies – Analyst

Gas Flame file photo

MOSCOW, April 4 (RIA Novosti) – Russia’s natural gas supplies to the European Union have no practical alternative, a senior energy analyst at the Colorado-based IHS company said Thusday. “The EU’s reliance on Russia to meet approximately 30 percent of its total gas demand means that there is no realistic alternative to European dependence on

Interfax: Europe can’t easily turn back on Russian energy resources – minister

Russian Gas Facility file photo

MOSCOW. April 4 (Interfax) – It would be difficult for Europe to give up Russian energy resources, Energy Minister Alexander Novak said in an interview with TV channel Rossiya 24. He recalled that statements have been made about reducing the dependence on Russia in future. “And such work is being done in the European Union,

Medvedev cancels zero gas duty for Ukraine

Gas Flame file photo

(Interfax – April 3, 2014) Russian Prime Minister Dmitry Medvedev has announced the cancellation of the zero customs export duty on gas for Ukraine. The budget deficit of Ukraine’s national oil and gas company Naftogaz Ukrainy will increase by UAH8.2 billion, or around $750 million at the current exchange rate, to UAH56.254 billion due to

Gazprom’s $910 Billion Gaffe Shows Putin Economy Waning

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(Bloomberg – bloomberg.com – Halia Pavliva and Ksenia Galouchko – April 3, 2014) Back in April 2007, in the midst of the greatest commodities rally on record, OAO Gazprom’s (OGZD) deputy chief executive officer, Alexander Medvedev, was talking big. Russia’s natural-gas export monopoly aspired to be the world’s largest company, he said while offering up

Russia’s Gazprom undecided on gas prices for Ukraine in April

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(Interfax – Minsk, March 26, 2014) OAO [open joint-stock company] Gazprom is not yet ready to say whether the discount on gas for Ukraine that was introduced at the beginning of the year would remain in effect in the second quarter of 2014. “Concerning the price of gas for Ukraine, it will be determined starting

Cooperation Between Russia, Ukraine On Atomic Energy Continues – Rosatom

Chernobyl File Photo

MOSCOW, March 27 (RIA Novosti) – Fuel deliveries to atomic stations in Ukraine are continuing with no interruptions, the head of Rosatom said on Thursday. “Today is probably not the simplest time in cooperation between Russia and Ukraine, but there has been no interruption in fuel deliveries to Ukraine’s atomic stations,” company head Sergei Kirienko

Medvedev: Ukraine owes $16 billion to Russia

File Photo of Blue Flame from Natural Gas

(Interfax – March 21, 2014) Ukraine’s debt to Russia stands at $16 billion, Russian Prime Minister Dmitry Medvedev told President Vladimir Putin at a session of the country’s Security Council on Friday. “Ukraine has quite a significant debt to the Russian Federation, both state and corporate,” he said. “In my opinion, we cannot afford to

Kyiv: Price for Russian gas could stand at $368.5 per 1,000 cm in 2Q – Interfax

File Photo of Blue Flame from Natural Gas

KYIV. March 9 (Interfax) – The price of Russian gas exported to Ukraine could stand at $368.5 per 1,000 cubic meters in the second quarter of 2014, said Ukraine’s Energy and Coal Industry Minister Yuriy Prodan. “We expect Russia to export gas to us at $368.5 per 1,000 cubic meters,” he told reporters in Kyiv

Gazprom to Cancel Gas Discount for Ukraine

File Photo of Blue Flame from Natural Gas

GORKI, March 4 (RIA Novosti) – The head of Russia’s state energy giant Gazprom said Tuesday that it will annul its discount on natural gas sales to Ukraine from April, a move that will further stretch Kiev’s teetering finances. Alexei Miller, who made the announcement while meeting with Prime Minister Dmitry Medvedev outside Moscow, motivated

Gazprom Captures Largest-Ever Share of European Gas Market

File Photo of Blue Flame from Natural Gas

(Moscow Times – themoscowtimes.com – February 19, 2014) State-owned gas giant Gazprom captured its largest-ever share of the European and Turkish gas market last year, supplying 30 percent of the continent’s needs, as compared to 26 percent in 2012. The Russian export monopoly sent 162.7 billion cubic meters of gas westward in 2013, and beat

NEWSLINK: Don’t Worry About U.S. Fracturing

File Photo of Blue Flame from Natural Gas

[Moscow Times - Todd Wood - February 13, 2014 - themoscowtimes.com/opinion/article/dont-worry-about-us-fracturing/494439.html] Todd Wood, in a Moscow Times op-ed, writes that while the United States has used fracking to seize the lead in global petroleum exports, Russia has more reserves, and could expand oil field services. Unfortunately for Russia, the U.S. has taken the lead in

RIA Novosti: Russia Forecasts Increase in Oil, Gas Output in 2014

Oil Well file photo

MOSCOW, February 12 (RIA Novosti) – Russia will increase oil production this year by 0.3 percent to 525 million tons and boost its natural gas output by 4.8 percent to 700 billion cubic meters, the country’s deputy energy minister said Wednesday. “We could increase gas production even more, but there are issues with storage, transportation

Endgame Nears In EU’s Antitrust Showdown With Gazprom

File Photo of Blue Flame from Natural Gas

(RFE/RL – rferl.org – Charles Recknagel – February 11, 2014) The Russian natural-gas giant Gazprom has long had its way in Europe, dominating the continent’s energy market and, according to critics, flaunting its rules with impunity. But that all might be about to change. A long-standing showdown between Gazprom and the European Union over alleged

Russian oil major Rosneft extends U.S. embrace

File Photo Rosneft and Russian Flags Next to Rosneft Banner

(Russia Beyond the Headlines – rbth.ru – David Miller, special to RBTH – February 7, 2014) Russia’s biggest crude producer agrees to buy Morgan Stanley’s oil merchanting assets as it ramps up cooperation on new fields with U.S. major ExxonMobil. Russia’s largest oil firm, Rosneft, purchased Morgan Stanley’s oil trading and transportation business in a

Gazprom Overspending Dwarfs Sochi Costs, Expose Says

File Photo of Blue Flame from Natural Gas

(Moscow Times – themoscowtimes.com – Alexander Panin – February 5, 2014) Gazprom is spending money on useless pipelines that makes the $51 billion spent on the Sochi Olympics look modest, an opposition party investigation said. The state-owned gas giant is lavishing billions of dollars on transportation infrastructure, including the South Stream pipeline to Europe, that

RIA Novosti: Ukraine Has $3.3 Billion Unpaid Gas Bill – Gazprom

Russian Gas Facility file photo

MOSCOW, February 3 (RIA Novosti) – Crisis-hit Ukraine currently owes Russia about $3.3 billion in unpaid natural gas bills, Russia’s state-owned gas monopoly Gazprom said Monday in an apparent reminder that the long-running conflict over the fuel has not been solved by a recent price cut agreement. Ukraine is unlikely to pay on time for

Changes in Regulations Could Help Break the Offshore Ice

Polar Map Showing Permafrost Areas, Adapted From NOAA.gov Graphic

(Moscow Times – themoscowtimes.com – Alexander Panin – February 3, 2014) State-controlled oil giant Rosneft had a very good year. That is what company chief executive Igor Sechin told Prime Minister Dmitry Medvedev on Friday at a meeting to review Russia’s largest oil producer, whose capitalization grew by 18 percent to $73 billion at the

China buys up Russia’s backyard

China Map

(Business New Europe – bne.eu – Ben Aris in Moscow – February 3, 2014) Russia spent the end of last year battling the EU for control over Ukraine. But should the Kremlin have been paying more attention to what was going on its southern border instead? In the last three months, the Chinese have swept

Interfax: Moscow concerned by EU demand to bring South Stream agreements in line with Third Energy Package – Lavrov

File Photo of Blue Flame from Natural Gas

(Interfax – February 3, 2014) Russian Foreign Minister Sergei Lavrov has expressed concern over statements by European Union representatives that inter-governmental agreements between Russia and South Stream project participants should be brought in line with the requirements of the Third Energy Package. “We are bewildered and concerned by Brussels’ statements about the need to review

Echoing Soviet Era, Putin Uses Oil Giant Rosneft to Tighten Economic Grip

File Photo Rosneft and Russian Flags Next to Rosneft Banner

(Bloomberg – bloomberg.com – Irina Reznik, Stephen Bierman and Henry Meyer – January 30, 2014) The record stretched across the history of the party and its socialist predecessor — from the first meeting in March 1898 to the last one in July 1990, a year and a half before the Soviet Union collapsed, Bloomberg Markets

Interfax: Gazprom totally undervalued, time could be right to buy back shares – deputy CEO

Russian Gas Facility file photo

MOSCOW. Jan 29 (Interfax) – Gazprom (MOEX: GAZP) is not just undervalued, it is totally undervalued, the Russian gas giant’s deputy CEO, Alexander Medvedev, said in an interview with the Rossiya 24 TV channel. “Perhaps now is the very best time to buy back shares,” which could later be sold on the market, Medvedev said.

Natural Gas Seen as Antidote to Warming

File Photo of Blue Flame from Natural Gas

(Moscow Times – themoscowtimes.com – Delphine d’Amora – January 17, 2014) As a major exporter of fossil fuels, Russia may seem an unlikely candidate for global environmental champion, but macro-economic experts believe the country can play a vital role in reducing carbon emissions and the impact of climate change. This uncommon view of the country’s

Interfax: Moscow expects explanations from Brussels regarding talks on South Stream – Chizhov

File Photo of Blue Flame from Natural Gas

BRUSSELS. Jan 14 (Interfax) – It is necessary to carry out eliminations and exceptions in the European Union law for the South Stream transborder pipeline, Russia’s envoy to the EU Vladimir Chizhov said. Moscow expects EU Commissioner for Energy Gunther Oettinger to elaborate on the way in which Brussels will hold talks on the South

LUKoil Hit With ‘Biggest Oil Spill Fine in Russian History’

Oil Well file photo

MOSCOW, January 10 (RIA Novosti) ­ A subsidiary of the Russian oil giant LUKoil has been slapped with a fine of 614 million rubles ($18.5 million), which Greenpeace said appeared to be the biggest such fine in Russia’s history. LUKoil-Komi was fined for nine oil spills from 2011 in Russia’s northern republic of Komi, according

RIA Novosti: Russia to Triple Uranium Production in Next 2 Years ­ Rosatom

File Image of Artist's Rendition of Uranium Molecules and Soil against Background Vista, adapted from image energy.gov image attributed courtesy of Pacific Northwest National Laboratory

NOVO-OGARYOVO, January 9 (RIA Novosti) ­ Russia will nearly triple its production of natural uranium in the next two years, the head of the country’s state-run nuclear corporation Rosatom said Thursday. Sergei Kiriyenko said at a meeting with President Vladimir Putin that Russia had in recent years been producing some 3,000-3,200 metric tons of uranium

RIA Novosti: Russia to be Ukraine’s Sole Gas Provider – Minister

File Photo of Blue Flame from Natural Gas

KIEV, January 9 (RIA Novosti) ­ Ukraine has ceased buying gas from Europe and will instead purchase the fuel solely from Russia, as it offers the lowest prices, Ukraine’s energy minister said Thursday. Russian gas is “the most profitable [supply option] for today,” said Ukraine’s Energy and Coal Industry Minister Eduard Stavitsky. Kiev has been

Russia boosts oil output 1% in 2013

Oil Well file photo

MOSCOW. Jan 9 (Interfax) – Russia’s oil and gas condensate output grew 1.0% year-on-year to 523.276 million tonnes (10.508 million barrels a day) in 2013, the Central Dispatching Department of the Fuel and Energy Complex (CDU TEK) said. Russia produced 44.964 million tonnes of oil in December, with the average daily produce of 10.632 million

Ruble Strengthens as Russia Readies for Olympics Amid Oil Gain

Cash, Calculator, Pen

(Bloomberg – bloomberg.com – Vladimir Kuznetsov – January 8, 2014) The ruble strengthened after the resumption of trading in Moscow as oil gained and investors bet next month’s Winter Olympics will support Russia’s currency. The ruble appreciated 0.4 percent to 38.4873 against Bank Rossii’s target basket of dollars and euros by 2:03 p.m. in Moscow.

Exxon Russia Ambitions Show Oil Trumps Obama-Putin Spats: Energy

Polar Bear on Ice, Looking Back at Camera

(Bloomberg – bloomberg.com – Stephen Bierman – January 2, 2014) As Barack Obama and Vladimir Putin argue over human rights in Russia and the fate of fugitive U.S. intelligence analyst Edward Snowden, the countries’ biggest oil companies are preparing to drill for giant discoveries together in the Arctic Ocean. Exxon Mobil Corp. (XOM:US) and OAO

Russia to study Arctic oil, gas prospects in shelf border extension

Polar Map Showing Permafrost Areas, Adapted From NOAA.gov Graphic

MOSCOW. Dec 31 (Interfax) – Russia is looking to study oil and gas prospects as it prepares to extend its Arctic shelf borders. Subsurface resources agency Rosnedra has already announced – on the state procurement portal – a tender for the selection of an outfit to evaluate the prospects of oil and gas fields on

Russian-American program to retrieve spent nuclear fuel prolonged to 2024

Radioactivity Symbol

MOSCOW. Dec 30 (Interfax) – The Russian-American program to retrieve spent nuclear fuel of Russian production from other countries has been prolonged until 2024. Russian state nuclear corporation Rosatom told Interfax that Russia and the United States exchanged their notes on this agreement. Rosatom was previously planning to round off the program in 2016. The

Interfax: YEAR IN REVIEW: Gazprom Export achievements, penalties

Russian Gas Facility file photo

MOSCOW. Dec 30 (Interfax) – The only good Gazprom (MOEX: GAZP) production news this year was on the export front, which is the profit margin generator. Against a backdrop of weakening competitors, Russian gas deliveries increased. The record holder Gazprom Export, instead of reaping rewards, got tax claims and equivalent to its annual revenue and

Senior security official: rising shale oil, gas production a threat to Russia

File Photo of Blue Flame from Natural Gas

MOSCOW. Dec 26 (Interfax) – Growing production of shale oil and gas poses a significant risk to Russia’s economic security, the secretary of Russia’s Security Council has claimed. “Having increased its production of shale gas, the United States has reduced its imports of liquefied natural gas. So its exporters have switched over to Europe. In

Interfax: Russia can keep oil output at 500 million tons for 10 yrs – Donskoi

Oil Well file photo

MOSCOW. Dec 25 (Interfax) – Russia’s subsurface resource base allows the country to maintain oil production of 500 million tonnes a year for the next ten, given the current conditions, Natural Resources Minister Sergei Donskoi said during a meeting devoted to the ‘effectiveness of studying and developing raw hydrocarbons on Russia’s continental shelf.’ However, the

Construction of New Pipeline from North Siberia to China Kicks Off

China Map

(Moscow Times – themoscowtimes.com – Anatoly Medetsky – December 18, 2013) Construction of a major pipeline kicked off Tuesday in an effort that will likely bring more oil from Siberia to China. Governor Lev Kuznetsov made a show at the starting ceremony in his Krasnoyarsk region, braving the rubber-bullet injury he suffered during a robbery

Interfax: SUMMARY: Gazprom slashes gas price for Ukraine by third, looks at new model of relations

File Photo of Blue Flame from Natural Gas

MOSCOW. Dec 18 (Interfax) – Russia’s Gazprom (MOEX: GAZP) and Naftogaz Ukraine, in the presence of the two countries’ presidents on Tuesday, signed addenda to January 19, 2009 contracts on the purchase-sale, delivery and transshipment of natural gas for 2009-2019. Discount President Vladimir Putin said after the signing that the documents would enable Gazprom to

RIA Novosti: Gazprom Could Lose Billions Over Ukraine Gas Deal – Analyst

Russian Gas Facility file photo

MOSCOW, December 18 (RIA Novosti) ­ Russia’s deal to provide Ukraine with cheaper gas may mean billions of dollars in lost profits, an investment analyst told a business newspaper in remarks published Wednesday. President Vladimir Putin announced that Russia would slash the price of its gas to Ukraine by one-third on Tuesday, down to $268.5

Euromaidan: Can’t Ukraine and Russia just get along?

Maidan Square file photo

(Moscow News – moscownews.com – Anna Arutunyan – December 11, 2013) With thousands still protesting in Kiev’s streets after Ukraine suspended plans to sign a trade association agreement with the European Union, beleaguered Ukrainian President Viktor Yanukovych is still mulling whom to side with for closer economic cooperation – Russia or Europe. Here are six

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