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Norwegian energy giant Statoil shows its Huldra oil rig in the North Sea. (AFP Photo / Statoil / Kjetil Alsvik) 25.05.2012 19:29 4 comments

Gazprom seeking new partners to spur Shtokman

Gazprom might be looking for new partners in the Shtokman gas project as reports suggest Norway’s Statoil has decided to leave the joint venture. Shell may take its place, according to a Kommersant daily report.

 
Vladimir Putin (RIA Novosti / Alexsey Druginyn) 24.05.2012 21:46 3 comments

Private energy firms welcome in the Arctic, but no license reselling

All non-state Russian fuel and energy companies should have the right to develop offshore oil and natural gas fields, as long as they don't resell their rights to foreign corporations, says President Vladimir Putin.

RIA Novosti/Mikhail Fomichev 24.05.2012 13:07 7 comments

Russian energy assets to go private

Russia is to allow private investors access to state gas and oil assets with a partial privatization of Rosneftegaz holding, which controls stakes in Gazprom and Rosneft.

 
(Reuters/ Kirsten Neumann) 22.05.2012 14:37 2 comments

Euro stability being siphoned off?

As prices for most necessary commodities, such as fuel, rise and salaries fall, citizens of Europe’s strongest economy resort to desperate measures. In Germany truck drivers are being attacked by fuel-stealing thieves.

Photo from www.nabucco-pipeline.com 15.05.2012 18:59 5 comments

Russian pipeline projects to gain from Nabucco woes

Doubts over the Nabucco gas pipeline’s future are growing, after Germany warned it may follow in Hungary's footsteps and walk out of the project. This will considerably brighten the prospects of its rivals South Stream and Nord Stream, experts say.

 
Photo from gazprom.ru 14.05.2012 18:27

Gazprom struggles for Ukrainian market

Russian gas major Gazprom has proposed to Ukrainian Naftogas to jointly develop a shelf project in the Black Sea. Gazprom has become concerned that Ukraine might cut gas imports from Russia after increasing its own production.

AFP Photo / Marco Sabadin 12.05.2012 15:05

Liquefied gas to dilute Shtokman costs

One of the largest projects in Russia’s Artic shelf, the Shtokman field is facing competition from shale gas. But Peter Mellbye, VEP at Statoil, says a complete switch to a liquefied natural gas (LNG) solution in gas transportation should help.

 
Reuters / NTB Scanpix 05.05.2012 20:26 7 comments

Pricey ice: Russia, Norway sign megabuck Arctic agreement

Statoil and Rosneft will spend about $60 bln to jointly explore and develop Russia’s Arctic shelf. This will allow another foreign company access to Russia’s oil and gas deposits, while domestic partners are still to be selected.

Call for independent Russian gas producers to get tax breaks 04.05.2012 16:03

Call for independent Russian gas producers to get tax breaks

The Russian Government should provide further tax breaks to stimulate independent gas producers in the country, says Pavel Zavalny, the head of the Energy Committee of the State Duma.

 
(AFP Photo / Getty Images) 04.05.2012 12:56 8 comments

Japan eyes gas pipeline from Russia

Japan is urgently seeking new energy sources as it phases out nuclear power. So it’s in talks with Russia over the construction of a gas pipeline to boost energy supplies.

(RIA Novosti / Aleksey Nikolskyi) 28.04.2012 14:43 5 comments

Gazprom to boost export to EU by 50%

Russia plans to boost gas exports to Europe by up to 230 billion cubic meters (bcm) by 2030 from the current 150 billion, the Russian Ministry of Energy has announced.

 
Photo from gazprom.ru 27.04.2012 12:51 1 comment

Gazprom 2011 net profit jumps 35%

Russian gas export monopoly Gazprom pleasantly surprised market analysts, reporting nearly $45 billion in net profit last year – a rise of 35 per cent, owed to growing gas production and strong energy prices.

Еру Esimit Europa boat (Photo from www.thedailysail.com) 26.04.2012 13:13

Gazprom powered boat to bring sailing glory to EU

A new force is emerging in the world of sailing. Russian gas major Gazprom, is bankrolling a European yacht and crew, who are already making huge waves in the sport.

 
Reuters / Grant DeVuyst / U.S. Coast Guard / Handout 25.04.2012 16:09 4 comments

Italy gets oil deal to explore Russian arctic

Italy's Eni and Russia’s leading oil producer Rosneft have completed a deal to search for oil and gas in the Russian Arctic. It’s the second major deal on Arctic development for Rosneft as it signed a partnership with ExxonMobile last week.

A section of the Nord Stream pipeline  (RIA Novosti / Grigory Sysoev) 20.04.2012 19:29 3 comments

Russia gets closer to making its gas way to Europe

The South Stream pipeline is finally taking shape as shareholders have agreed to build the northern leg of pipeline to Austria first. Construction will start sooner than expected in December of this year.

 
AFP Photo / Martin Bureau 17.04.2012 19:35 2 comments

Rosneft-Exxon deal: the gains and challenges

After the landmark deal, already dubbed by many “the deal of the century”, energy experts are unanimous in their estimates of potentially huge reserves the companies are getting access to, warning however that “the money is not yet on the table”.

RIA Novosti / Iliya Pitalev 17.04.2012 15:52 4 comments

Putin: gas companies tax insufficient; Gazprom shares tumble

Gazprom’s shares shed 1.5% following the Russian Prime Minister’s statement that the tax burden on the gas sector is insufficient and economically unjustified.

 
image from http://www.rosneft.ru 16.04.2012 19:27 12 comments

Rosneft, Exxon Mobil sign landmark deal to develop Arctic reserves

Rosneft and Exxon Mobil have signed a partnership deal, which will see them work together to develop the Arctic's rich untapped reserves.

An oilfield worker walks past the Statoil oil sands facility near Conklin, Alberta, Canada (Reuters/Todd Korol) 14.04.2012 03:00 1 comment

Canada eyeing Asian markets for its oil

Canada has long been looking to expanding its oil routes to decrease dependency on exports to the U.S. Another step in this direction is a new pipeline that would carry three times more crude than now to Eastern shores, and hence to Asia.

 
AFP Photo / Aizar Raldes 13.04.2012 19:27 7 comments

US looking for ways to use its natural gas glut

The price of natural gas in the US has slumped below $2.00, reaching its lowest level in more than a decade. It's quickly turned into a favorite among consumers, companies and futures’ traders. The problem now is what to do with it?