Tuesday, March 19, 2024
The United Arab Emirates Mubadala wealth fund is reportedly nearing a deal to invest in a Gazprom Neft subsidiary based in Western Siberia. The transaction, if closed, would mark the Abu Dhabi investment vehicle’s foray into Russia’s upstream sector. Russian business daily Kommersant reported last week that Mubadala and the...
Russian company Konkov's Petro-hydraulic Drives expressed readiness to provide the Fuel and energy complex of Turkmenistan with innovative solutions for improving oil production, said a report by the Central Asian country’s oil and gas administration. The news comes after the Turkmen government officially invited Russian companies to form the oil...
Russian state-owned energy major Rosneft announced that it has signed energy deals with a pair of Chinese energy counterparts, seizing an opportunity as Beijing moves to diversify suppliers amid a trade war with the U.S., TASS news agency reports. China National Chemical, known as ChemChina, agreed to purchase 2.4 million tons a year...
Russia's natural gas giant Gazprom may buy its headquarters in the Lakhta Center in St Petersburg from its oil arm Gazprom Neft for about $1.8 billion, Vedomosti reported citing unnamed sources. Reportedly, part of the payment has already been transferred to Gazprom Neft in 2018, with the majority of the payment coming in 2019,...
The decision by energy giant Royal Dutch Shell to withdraw from its joint Baltic LNG project with Russia’s Gazprom could delay the venture, sources told business newspaper Kommersant. The Russian state-run gas giant will now have to find over $10.8 billion for the construction of both the Baltic LNG...
Russian retailer Magnit has dropped plans to bid for smaller rival Lenta, paving the way for Severgroup, a company owned by Russian steel magnate Alexey Mordashov, to take over Lenta at about $1.75 billion, Kommersant reports. Magnit this month will buy Lenta, Russia’s third-largest grocery retailer, seeking to thwart Mordashov’s...
Gazprom Neft, the oil arm of Russia’s gas giant Gazprom, is exploring the possibility of monetizing its natural gas resources in the Yamal Peninsula in Western Siberia with a total volume of up to 1.5 trillion cubic meters by building a gas liquefaction plant, Kommersant reported citing sources in...
Poland’s gas transport operator Gaz-System and Denmark’s Energinet will have to make an additional agreement with Russia’s Gazprom on their joint project, Baltic Pipe gas conduit to reduce Poland’s dependence on Russian gas, Rossiyskaya Gazeta writes. The project is aimed at reducing the two countries’ reliance on Russian energy. But...
Questions are being raised about the longevity of OPEC and Russian collective production cuts, after a surge of Brent crude prices over the last few weeks brought the price to $70. “Top OPEC officials surely did not expect such a dramatic run-up in prices, at least not this early in...
Litasco, the trading arm of Russian oil producer Lukoil, has stopped carrying out swap operations with Venezuela since the U.S. imposed sanctions on state-owned oil company PDVSA in January, Lukoil CEO Vagit Alekperov said on Thursday, according to Reuters. On Jan. 28, U.S. President Donald Trump’s administration imposed tough...