Norway, Russia Will Bolster Cooperation In Search For Arctic Oil
The two neighboring countries have already signed a deal to exchange older seismic data from the border zone, Reuters said.
Report: London Trading Unit Of Gazprom Pao Cuts Workforce
Reuters reported that the London-based trading unit of Russia's Gazprom Pao has laid off about 20% of its workforce, including at least six directors, according to the Wall Street Journal.
Russia Signs Decree To Sell 19.5% Rosneft Stake
Under the current plan, Rosneft is due to buy the 19.5% stake itself so the proceeds can fund the budget before the end of the year. Rosneft would then resell the shares to investors in the first quarter of 2017.
Lukoil Opens Pyakyakhinskoye Field In The Russian Arctic
Reuters reported that Lukoil values the Pyakyakhinskoye Field's reserves at 86 million tonnes of oil and gas condensate, as well as 253 billion cubic meters of gas, as measured by Russian standards.
Kashagan Oil Field Reaches Milestones Amid Capex Recovery Angst
Costs for the development have swelled to about $50 billion as the industry copes with lower commodity prices, prompting concern among analysts about project partners’ capex recovery.
Russian Helicopter Crash Kills 19 Oilfield Contractors
The helicopter was carrying employees of a contractor from oil major Rosneft’s Suzun oil field, part of the Vankor deposit, Russia’s northernmost onshore oil production project.
Report: Rosneft Is Unlikely To Buy Out Stake In Bashneft
Rustem Khamitov, president of Russia's internal Republic of Bashkortostan, said on Oct. 21 it was unlikely that Russian oil major Rosneft will offer to buy its 25% stake in Bashneft, Reuters reported.
Oil Rises On Russia’s Output Freeze Commitment
Russian Energy Minister Alexander Novak said on Oct. 21 an oil production freeze agreement was necessary to prop up prices and that he would make proposals to his Saudi Arabian counterpart this weekend.
Russia Completes Bashneft Sale To Rosneft For $5.3 Billion
The sale is a part of a government privatization drive aimed at narrowing the state budget deficit.
Russia, Turkey Sign Deal To Build TurkStream Gas Pipeline
The deal foresees construction of two pipelines on the bed of the Black Sea. It was reported earlier that each line from Russia to Turkey would have the capacity to carry 15.75 billion cubic meters (Bcm) of gas a year.