Russia Oil & Gas News

 

Seaborne Nuclear Power Plant Docks in Russia

Sep 16, 2019

Russia's first-floating nuclear power plant has arrived to its permanent base near an isolated Russian town across the Bering Strait from Alaska, Russian state nuclear energy company Rosatom said on Saturday.Developed by Rosatom, the plant, known as 'Akademik Lomonosov', set off on a 5,000 km (3,100 mile) journey on Aug. 23 through Arctic waters to reach the Chukotka region. Rosatom said it aims to make the floating station operational by the year-end…

Ukraine Strips US Firm of Black Sea Exploration Rights

Sep 12, 2019

Ukraine's new government on Thursday stripped U.S.-based Trident Acquisitions of the right to explore and develop oil and gas reserves in the Black Sea shelf, prompting the company to say Ukraine had lost out on $1 billion in new investment…

Tax Breaks Approved for Russia's Largest Oilfield

Sep 12, 2019

Russia's finance ministry has in principle approved tax breaks for developing the Priobskoye oilfield, Russia's largest, to oil giants Rosneft and Gazprom Neft, Alexei Sazanov, head of the ministry's tax department said on Thursday.He added…

Russia: Arctic Offshore Oil Feasible at $130/bbl

Sep 10, 2019

The head of Russia's Rosnedra subsoil agency said on Tuesday that the development of the Pobeda (Victory) offshore Arctic oilfield in the Kara Sea is feasible only at oil prices of $130 to $140 per barrel, Interfax news agency reported.Rosneft…

Russia: Saudi Oil C-Suite Changes Won't Impact Cooperation

Sep 04, 2019

Changes in the management of its oil ministry by Saudi Arabia will not impact cooperation between Russia and the Middle East kingdom, Russian Energy Minister Alexander Novak stated today, adding that he plans to meet his Saudi counterpart Khalid…

Russia Open to Private Firms Developing Arctic

Sep 04, 2019

Russia's natural resources and environment minister said on Wednesday he supported allowing private oil and gas companies to work on the Arctic shelf.Speaking to reporters at an economic forum in the far eastern Russian city of Vladivostok, the minister…

TechnipFMC Wins $7.6 Bln Contract

Jul 24, 2019

Oil services company TechnipFMC won a $7.6 billion contract with Russia's Novatek and its partners for the Arctic 2 liquefied natural gas project in western Siberia, pushing TechnipFMC's shares higher.TechnipFMC's Paris-listed shares rose 3…

Putin Says Wind Power Harmful to Birds and Worms

Jul 09, 2019

Russian President Vladimir Putin questioned on Tuesday the use of wind power, saying wind turbines were harmful to birds and worms.Russia, a world-leading producer of fossil fuel, is lagging other countries in its development of renewable energy sources…

Rosneft Cuts Oil Output

Jul 09, 2019

Russia's largest oil producer Rosneft said on Tuesday its oil production had declined due to a decision by oil pipeline monopoly Transneft to reduce intake of oil due to a contaminated oil issue.It said Transneft had imposed a 'significant'…

US Considering Sanctions Over Nord Stream 2

Jun 12, 2019

President Donald Trump said on Wednesday he was considering sanctions over Russia's Nord Stream 2 natural gas pipeline project -- which the United States has told European companies to avoid -- and warned Germany against being dependent on Russia for the fuel…

Lukoil 2020 Capex May Exceed $8 Bln

May 30, 2019

Russian oil producer Lukoil's capital expenditure may exceed $8 billion next year, the company's Vice President Pavel Zhdanov said on Thursday.The oil producer sees its capex at between 475 billion and 500 billion roubles this year, depending on the global oil deal between OPEC and its allies…

Gazprom Finds New Yamal Offshore Fields

May 17, 2019

Russian state gas producer Gazprom has discovered two new offshore fields in the Yamal region with total reserves of more than 500 billion cubic meters (bcm), the company said on Friday.The fields are located in the Kara Sea and hold 390.7 bcm and 120…

Nord Stream 2 Launch Facing Delays

May 17, 2019

Russia's Nord Stream 2 gas pipeline project to Germany may launch in 2020, rather than the end of 2019, due to delays in obtaining permits from Denmark, Interfax news agency on Friday quoted Nord Stream 2 AG as saying.The Russian-led company…

EU: New Rules Apply to Nord Stream 2

Apr 25, 2019

The European Union executive on Thursday said its stance on Nord Stream 2 is law and will not change, despite receiving letter from the gas pipeline threatening legal action if it is not exempt from new energy rules.The bloc amended its energy…

Russia Signals OPEC Should Raise Output

Apr 08, 2019

One of the key Russian officials to foster a supply pact with OPEC, Kirill Dmitriev, signaled on Monday Russia wanted to raise oil output when it meets with OPEC in June because of improving market conditions and falling stockpiles.Dmitriev…

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