MOSCOW. Nov 20 (Interfax) – Deputy Russian Prime Minister Arkady Dvorkovich said he saw no reasons for growth in state ownership of the Russian oil industry. “We see no reasons for the state’s ownership in the oil sector to increase. There’s good competition between companies, companies are working well, with good profitability and substantial investments,” Dvorkovich said at a conference […]
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(Moscow Times – themoscowtimes.com – November 21, 2012) Jailed businessman Mikhail Khodorkovsky has criticized Rosneft’s deal to take over British-Russian joint venture TNK-BP, saying President Vladimir Putin is leading the country toward “state capitalism” in an interview published Wednesday. Commenting on the deal, which Putin approved Oct. 22, the former Yukos head told Forbes magazine that the deal raises concerns […]
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MOSCOW, November 20 (RIA Novosti) Russia’s economy will remain primarily based on raw materials production until 2030, along with the remnants of high technologies like the nuclear and space industries inherited from the Soviet era, Rosiiskaya Gazeta reported on Tuesday, citing the latest forecast by Russian economists. The Global Strategic Survey 2030 was prepared by the Institute of World […]
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(Dr. Donald N. Jensen – Voice of America – Russian Service Crossfire – November 15, 2012) For decades US Presidents have called for American energy independence but have been unable to do much about it in the face of growing domestic energy consumption, popular fondness for gas guzzling vehicles and environmental restrictions. Those dreams, however, may finally be fulfilled. This […]
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(Moscow News – themoscownews.com – Alexey Eremenko – October 29, 2012) It is cheaper to send a rocket into space than to drill a single oil well in the Arctic Sea. One Proton rocket launch costs from $80 million to $100 million, while offshore oil wells in the Arctic come in at $100 million to $150 million apiece and […]
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(oilprice.com – Marin Katusa – October 28, 2012) Exxon Mobil is no longer the world’s number-one oil producer. As of yesterday, that title belongs to Putin Oil Corp oh, whoops. I mean the title belongs to Rosneft, Russia’s state-controlled oil company. Rosneft is buying TNK-BP, which is a vertically integrated oil company co-owned by British oil firm BP and […]
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BERLIN, October 26 (RIA Novosti)-State-owned oil giant Rosneft’s acquisition of TNK-BP does not signify an increase in state control of the Russian oil sector, and no one in Russia is building state capitalism, First Deputy Prime Minister Igor Shuvalov said on Friday. “The sale of TNK-BP to Rosneft does not represent an increase in state control of the oil sector, […]
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(Moscow Times – themoscowtimes.com – Anatoly Medetsky – October 23, 2012) Rosneft’s deal to take over TNK-BP masterfully achieves the dual purpose of strengthening the state’s hand in the oil industry to spectacular proportions and showcasing its benevolence to foreign capital at the same time. Officially confirmed Monday, the gradual $56 billion purchase of the country’s third-largest crude producer will […]
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(Bloomberg – bloomberg.com – Matthew Campbell – October 24, 2012) As a small army of advisers from eight investment banks huddled in London last weekend to negotiate Russian state oil company OAO Rosneft (ROSN)’s agreement to acquire BP Plc (BP/)’s Russian venture, the deal’s most important player had already left the country. Igor Sechin, 52, a former Soviet spy and […]
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(Bloomberg – bloomberg.com – Anna Shiryaevskaya – October 19, 2012) OAO Rosneft (ROSN)’s proposed acquisition of TNK-BP will accelerate the state oil company’s eclipse of OAO Gazprom (OGZD) as the dominant force in Russia’s energy industry. President Vladimir Putin used Gazprom, the world’s biggest natural gas producer, to assert Russia’s energy power over the past decade, winning pipeline deals and […]
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(Interfax – October 17, 2012) The amount of gas that the U.S. exports might reach a third of the amount that Russia exports in the medium term, Laszlo Varro, Head of the Gas, Coal and Power Market Division at the International Energy Agency (IEA), said at ‘Gas Day’ at Skolkovo. American gas exports will play an important role in the […]
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MOSCOW. Oct 9 (Interfax) – Gazprom (RTS: GAZP) is ever more aggressively pushing itself onto the European market. Upon launching Line 2 of the Nord Stream gas pipeline on Monday, the Russian gas giant announced that additional capacity should be built in this direction. The new project could tentatively be called Nord Stream-2, although its potential participants and markets are […]
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Russia expects tax reforms to boost oil output – Reuters – October 9, 2012 – click here for original article: http://www.reuters.com/article/2012/10/09/russia-energy-idUSL6E8L9PU620121009 Reuters covers Russian aspirations to expand oil output through tax breaks: Russia aims to bring on line 1.4 million to 2 million barrels of oil equivalent per day with new tax reforms designed to reduce the levy on future […]
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(Kremlin.ru – October 8, 2012) In his video address, Vladimir Putin congratulated the project participants on completing the second section and bringing it to design capacity. The official ceremony marking the pipeline’s completion took place at Portovaya Bay in Leningrad Region. The pipeline crosses the Baltic Sea, passing through the territorial waters of five countries, and links up to the […]
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LENINGRAD REGION, October 8 (RIA Novosti) -Russia intends to sign memorandums on new Nord Stream gas pipeline routes to Europe by December 31, Gazprom CEO Alexei Miller said on Monday as the second leg came on stream. “Today Nord Stream shareholders considered a preliminary feasibility study for the third and fourth legs, their construction was recognized as economically expedient and […]
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Moscow Times – themoscowtimes.com – Howard Amos and Irina Filatova – October 3, 2012 Signaling the start a long-awaited overhaul at Gazprom, President Vladimir Putin on Tuesday called for corruption to be eliminated at the state-controlled gas giant and said its business model should be improved. Gazprom has been criticized for years by minority investors who believe their lucrative shares […]
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Siberia placed to be the new Middle East – Asia Times – By Yong Kwon – September 24, 2012 – http://www.atimes.com/atimes/Central_Asia/NI25Ag01.html Yong Kwon is a Washington-based analyst of international affairs. Asia Times examines the impact of Middle Eastern instability on oil and the global economy, and Siberia’s emergence as a significant source of petroleum. Russia actually starting serving as a […]
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(Business New Europe – September 21, 2012) Russian Prime Minister Dmitry Medvedev has ordered his cabinet to draw up urgent plans to “seize” 95% of the RUB130bn (€3.2bn) sitting on Rosneftegaz’s accounts to meet President Vladimir Putin’s demands to increase spending on state salaries and infrastructure investment. The move would emasculate Rosneftegaz CEO and Kremlin insider Igor Sechin’s plans to […]
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