Russia's Medvedev Says Oil Could Hit Up to $400 a Barrel if Japanese Proposal Adopted
Russia's former president Dmitry Medvedev said on Tuesday a reported proposal from Japan to cap the price of Russian oil at around half its current level would lead to significantly less oil on the market and could push prices above $300-$400 a barrel.Commenting on the proposal, which was reportedly put forward by Prime Minister Fumio Kishida, Medvedev said Japan "would have neither oil nor gas from Russia, as well as no…
Russia Says Nord Stream 2 Will Be Ready in Months
Russian Prime Minister Dmitry Medvedev said on Monday that the Nord Stream 2 gas pipeline would be completed in a matter of months and U.S. sanctions imposed on the project last week would not be "catastrophic".Russia's new gas transit deal with Ukraine would also mollify the impact on Russian gas supplies of U.S. sanctions introduced on the pipeline project, he said.Last week a major contractor suspended work on the Nord Stream 2 project, which is led by Russia's Gazprom, due to U.S. sanctions introduced by U.S.
Christophe de Margerie Loads First Cargo from Third Train Yamal LNG
The Arctic LNG carrier Christophe de Margerie, owned and operated by Sovcomflot, loaded the first batch of liquefied natural gas (LNG) produced at the third train of Yamal LNG plant, at the Port of Sabetta on the Yamal Peninsula.Dmitry Medvedev, the Russian Prime Minister, initiated the start of cargo operations via a video conference with the vessel’s Master Sergey Zybko.Dmitry Medvedev congratulated Yamal LNG on reaching…
Yamal LNG Reaches Full Capacity
The Yamal liquefied natural gas (LNG) project in Arctic Russia officially commissioned the third and last production line Tuesday.Russia's independent natural gas producer PAO Novatek announced that its joint venture Yamal LNG has reached full capacity at the plant’s three LNG trains.The Yamal LNG project was implemented in record time and on budget with the launches of the second and third trains made ahead of schedule by six months and more than a year, respectively.
Russian PM: Oil Price 'Reasonable' as Global Deal Works
The global agreement on oil output cuts reached between OPEC and non-OPEC nations is working, keeping oil prices within "a reasonable range", the RIA news agency cited Russian Prime Minister Dmitry Medvedev as saying on Tuesday. Medvedev, on a visit to Algeria, also said that talks on other countries joining the global oil output cut deal were under way, RIA reported. Writing by Dmitry Solovyov
Rosneft privatization Completed
Yesterday at the meeting with Russian President Vladimir Putin Igor Sechin, Rosneft's head informed that the Rosneft privatization was completed and the deal on selling a 19.5% stake in Rosneft for 10.5 billion euro has been completed. The strategic investor became the consortium of Glencore trader company and Qatar’s sovereign find. Sberbank CEO Herman Gref considers Rosneft privatization deal successful due to discount.
Russian PM Orders Govt to Work on Increasing Rosneft Dividends
Russian Prime Minister Dmitry Medvedev said on Friday that he had ordered the government to work on increasing Rosneft's dividend payments. For its 2015 results Rosneft paid 35 percent of its net profit according to international accounting standards. Medvedev also said on Friday that after Glencore and Qatar had agreed to buy a 19.5 percent stake in Rosneft, Russia had completed its privatisation plans for 2016 in full. (Reporting by Darya Korsunskaya; Writing by Denis Pinchuk)
Russia's Government Sees Rosneft Stake Sale a Priority
Russian government's priority it to sell a stake in the country's largest oil producer Rosneft , First Deputy Prime Minister Igor Shuvalov said on Wednesday. After that sale happens, the government will return to selling a stake in Bashneft. Russian Prime Minister Dmitry Medvedev has postponed the privatisation of mid-sized oil producer Bashneft on Tuesday (Reporting by Darya Korsunskaya, writing by Denis Pinchuk; Editing by Lidia Kelly)
Russia Says Rosneft Stake Sale to Come Before Bashneft
A sale of part of Russia's holding in oil producer Rosneft is a priority and will come before any privatisation of mid-sized rival Bashneft , First Deputy Prime Minister Igor Shuvalov said on Wednesday. "We should focus on (Rosneft)", Shuvalov said. Russian Prime Minister Dmitry Medvedev on Tuesday unexpectedly postponed indefinitely the plans to privatise Bashneft, which had created tensions over whether state-run Rosneft should be allowed to buy a stake in its rival.
Gazprom, PTT Ink O&G Deal
Alexey Miller, Chairman of the Gazprom Management Committee, and Tevin Vongvanich, President and Chief Executive Officer of the Thai state-owned company PTT, today signed in Saint Petersburg the Memorandum of Understanding on cooperation in the oil and gas industry. The signing ceremony was held in the presence of Dmitry Medvedev, Prime Minister of the Russian Federation, and Prayut Chan-o-cha, Prime Minister of the Kingdom of Thailand. A working meeting between Alexey Miller and Tevin Vongvanich also took place today.
Gazprom, PetroVietnam Ink Multiple Deals
Alexey Miller, Chairman of the Gazprom Management Committee, and Nguyen Quoc Khanh, Chairman of the Board of Directors of Vietnam Oil and Gas Group (PetroVietnam), signed today in Moscow a number of documents to strengthen cooperation between the companies. The signing ceremony was attended by Dmitry Medvedev, Prime Minister of the Russian Federation, and Nguyen Xuan Phuc, Prime Minister of the Socialist Republic of Vietnam (SRV). the Addendum to extend the Cooperation Agreement on personnel training.
Transneft to Pay 50% of 2015 Net Income in Dividends
Nikolai Tokarev, the head of Russian oil pipeline monopoly Transneft, said on Monday his company was ready to pay out 50 percent of its 2015 net income in dividends for both ordinary and preferred shares. Russian Prime Minister Dmitry Medvedev has ordered state-owned companies to pay 50 percent of net profit in dividends in an attempt to replenish state coffers hit by a collapse in global oil prices. Transneft's preferred shares…
Armenia and Russia PMs confer on Gas Supply
The Russian Prime Minister Dmitry Medvedev met Hovik Abrahamyan, Prime Minister of the Republic of Armenia to address issues onbilateral cooperation in the energy sector. The parties commended Gazprom for its contribution to the development of the Armenian gas industry. Alexey Miller, Chairman of the Gazprom Management Committee, accompanied his Prime Minister on the working visit to Armenia as a member of the delegation.
Lukoil: Caspian Oilfield Production Begins in August
Vagit Alekperov, the head of Russia's No.2 oil producer Lukoil, told Russian Prime Minister Dmitry Medvedev on Monday the Filanovsky offshore oilfield in the Caspian Sea will be ready for production in August, Interfax news agency reported. Reporting by Jack Stubbs
Gazprom, CNPC Ink Power of Siberia Gas Pipeline Deal
Alexey Miller, Chairman of the Gazprom Management Committee and Wang Yilin, Chairman of the Board of Directors of CNPC signed today in Beijing an Agreement to design and construct the cross-border section of the Power of Siberia gas pipeline, including its submerged crossing under the Amur River. Besides, a Memorandum of Understanding in the oil sector was entered into by Gazprom Neft and CNPC. The documents were signed in the presence of Russian Prime Minister Dmitry Medvedev and Li Keqiang…
China Won't Cease Building on S. China Sea Isles
China said on Sunday it will continue to build military and civilian facilities on its artificial islands in the disputed South China Sea and the United States was testing it by sending warships through the area. "Building and maintaining necessary military facilities, this is what is required for China's national defence and for the protection of those islands and reefs," Vice Foreign Minister Liu Zhenmin told a news conference in Kuala Lumpur.
Gazprom Takes Part in APEC CEO Summit
The Gazprom delegation led by Alexey Miller, Chairman of the Company's Management Committee, participates in the Asia-Pacific Economic Cooperation (APEC) CEO Summit in Manila (Philippines). As part of the Summit, Alexey Miller attended the meeting between Dmitry Medvedev, Prime Minister of the Russian Federation and Truong Tan Sang, President of the Socialist Republic of Vietnam. The meeting, among other things, considered issues of the cooperation in the oil and gas sector…
Russian Oil Tax Hike Rejected
Russian Prime Minister Dmitry Medvedev has rejected calls to raise the mineral extraction tax (MET) for oil producers, a government spokeswoman said on Monday, while a source told Reuters a gas output tax hike was being considered instead. Rather than hike MET, Natalia Timakova, the spokeswoman, said the government would instead consider ways of reducing export duties on oil more slowly than previously planned. "The prime minister has taken a decision not to adjust MET after a meeting," said Timakova.
Russian Oil Profits Up, Goldman says "buy"
Weaker rouble, low tax take boost Russian oils' earnings. When the head of the Kremlin's oil major Rosneft, Igor Sechin, went to see Prime Minister Dmitry Medvedev last month to report on his achievements, he proudly boasted about a bullish report from the U.S. investment bank Goldman Sachs. Goldman's analysts said they had spotted a buying opportunity in the Russian oil sector. While energy companies around the world had been hit hard by a global fall in prices…
Rosneft Looks to Increase Output
Russia's Rosneft, the world's top listed oil producer by output, plans to increase production, Chief Executive Igor Sechin told Prime Minister Dmitry Medvedev on Friday, according to the government's website. Rosneft oil production was slightly down last year to 4.1 million barrels per day from 4.2 million bpd in 2013, due to lower output at mature fields. Sechin, who did not give a production forecast or a timing for the increase…
