Nord Stream 2 Launch Facing Delays
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 has two pending route applications with Danish authorities, the first of which was submitted more than two years ago, but it was asked in March to assess a third…
Exxon Mulls FEED for Far East LNG Project
Exxon Mobil's Russian unit may take a decision this year on the Front End Engineering Design (FEED) for its Far East Liquefied Natural Gas project with Rosneft, Alexander Popov, vice president at Exxon Neftegaz, said on Wednesday.The company is continuing to hold talks on gas supplies from the Sakhalin 1 oil and gas project to Sakhalin 2, a project which needs gas in order to expand its LNG production, Popov said at an LNG conference organised by Vostock Capital.(Reporting by Oksana Kobzeva; wri
SOCAR Inks Deals for Caspian Fields with Equinor
Azeri state oil company SOCAR and Norway's Equinor on Wednesday signed a risk service contract for the development of the Karabakh offshore oil and natural gas field in the Caspian Sea.The two companies also signed a product-sharing agreement for Ashrafi, Dan-Ulduzu and Aypara exploration area."The agreements signed today represent a natural next step in the region. This will strengthen our position in a prolific basin and develop growth options…
Gazprom 2017 Net Profit Falls to 714 Bln Roubles
Russian gas giant Gazprom said on Thursday its net profit totalled 714 billion roubles ($11.38 billion) in 2017, down from 952 billion roubles a year earlier.Analysts polled by Reuters had expected the company to post a net profit of 684 billion roubles.Revenue totalled 6.5 trillion roubles, the company said, while earnings before interest, taxation, depreciation and amortisation (EBITDA) came in at 1.47 trillion roubles.($1 = 62.7482 roubles)(Reporting by Oksana Kobzeva; Writing by Jack Stubbs;
Novatek: Yamal's First Train Plans Maintenance in May
Russia's Novatek said on Friday the first train of its Yamal LNG plant will suspend production some time in May due to planned maintenance.The company also plans to choose partners for a liquefied natural gas complex in Russia's Kamchatka region in coming months, Chief Executive Leonid Mikhelson told reporters.(Reporting by Oksana Kobzeva, writing by Maria Kiselyova Editing by Alexander Smith)
Gazprom Plans 500 Mln Swiss Franc Eurobond
Russia's Gazprom plans to issue a five-year Eurobond worth 500 million Swiss francs ($533.62 million), the Interfax news agency reported on Tuesday, citing financial market sources. Gazprom has mandated Gazprombank, Renaissance Capital, UBS and VTB Capital to arrange meetings with bond investors in Geneva and Zurich from Monday, Thomson Reuters' IFR unit reported last week. ($1 = 0.9370 Swiss francs) (Reporting by Maria Kiselyova; editing by Katya Golubkova)
Sistema: Detsky Mir Stake Sale Cancelled
Russian business conglomerate Sistema said on Wednesday the offering of Detsky Mir shares had been cancelled, after its stake in the country's largest toy retailer was frozen by court at the request of Rosneft. "Due to investor concerns triggered by hostile actions initiated by Rosneft and Bashneft resulting in court injunctions and arrest of all Sistema's shares in Detsky Mir, the previously announced offering can not be completed," it said in a statement.
Russia's Gazprom says Jan-Nov Gas Exports Up
Russian gas exports outside ex-Soviet countries increased 8.3 percent, year-on-year, in January-November to 175 billion cubic metres (bcm), Gazprom said on Friday. Gazprom Group's gas production increased 14.6 percent to 426.4 bcm in the first eleven months of the year, the company said in a statement. Reporting by Oksana Kobzeva; writing by Maria Kiselyova
Gazprom Neft Q3 Net Profit up 36% Y/Y
Russian oil producer Gazprom Neft said on Wednesday its third-quarter net profit was up 36 percent year-on-year to 77.7 billion roubles ($1.29 billion). Gazprom Neft's revenue rose to 513.3 billion roubles from 450.2 billion roubles in the third quarter of last year, while adjusted earnings before interest, taxation, depreciation and amortisation grew 26 percent to 153.4 billion roubles.
Russia's Novak Says No OPEC Talks on Friday Night
Russian Energy Minister Alexander Novak said there would be no oil talks with the Organization of the Petroleum Exporting Countries on Friday night. (Reporting by Alissa De Carbonnel; Writing by Jack Stubbs; Editing by Maria Kiselyova)
Gazprom: Long-term Contracts, New Pricing to Boost Revenue
Russia's Gazprom, the world's largest conventional gas producer, said on Tuesday that a combination of long-term contracts with new pricing mechanisms and forms would allow it to boost revenues and strengthen its market position. In recent years, Gazprom has started to add spot pricing elements to some of its contracts with European clients, which are linked to oil prices. Gazprom has also held gas auctions in addition to supplies based on long-term contracts.
Russia sees Gazprom 2016 Dividend Payout Ratio upto 50%
Russia expects natural gas producer Gazprom to pay 50 percent of its earnings in 2016 dividends, more than doubling the payout from the previous year, according to the draft federal budget. The government earlier ordered a 50-percent threshold for state companies but Gazprom gained a waiver from the rule and set 2015 dividends at around 23.5 percent of net profit under International Financial Reporting Standards.
Rosneft submits draft Bashneft buyout offer to regulator
Rosneft has sent a draft mandatory offer to the central bank to buy the shares it does not already own in oil firm Bashneft, the Russian energy company said in a regulatory statement released late on Friday. State-controlled Rosneft is seeking government approval to buy up to 100 percent of Bashneft after acquiring a controlling stake this month for 330 billion roubles. The company will spend no more…
Lukoil Launches New Oilfield in the Russian Arctic
Russia's second biggest oil producer Lukoil launched a new oilfield in the Russian Arctic on Tuesday, an effort to stem output falls attributed to the company's declining deposits, which are mostly located in Western Siberia. The launch of the field, in the Yamal region, underlines how hard it is for the Russian authorities to get their oil companies to freeze or cut output as part of a potential deal with the Organization of the Petroleum Exporting Countries.
Lukoil to Slash 2017 Investments
Russia's No.2 oil producer Lukoil will reduce its 2017 investments by 45 billion roubles ($724.72 million) from 2016 due to higher taxes, Chief Executive Vagit Alekperov said on Tuesday. "We understand that the tax burden will be raised. We will lower our investments, but not significantly," Alekperov told reporters. Lukoil's 2016 investments have been seen within a range of $7.5 billion to $7.8 billion.
SOFAZ Sees Assets Down to $34 Bln by End-2016
Azerbaijan's state oil fund SOFAZ expects its assets to decline to $34 billion by the end of 2016, Shakhmar Movsumov, the fund's executive director, said on Wednesday. Movsumov said earlier on Wednesday the fund's assets totalled $35.822 billion in January-September, flat on the same year-ago period, but 6.7 percent higher than at the befinning of 2016. (Reporting by Nailia Bagirova; Writing by Maria Kiselyova; Editing by Dmitry Solovyov)
Gazprom: No Progress in Talks on TurkStream Project
Russia's Gazprom said on Wednesday there was no progress in talks over the Turkish Stream gas export pipeline project. A company executive told a conference call the discussions were at the same stage as before they were halted last year after Turkey shot down a Russian air force jet. (Reporting by Olesya Astakhova and Andrey Kuzmin; Writing by Maria Kiselyova)
Gazprom Says Q2 Net Profit Down 17%
Second-quarter net income of Russian gas giant Gazprom declined by 17 percent year-on-year to 244.9 billion roubles ($3.8 billion), the company said on Monday, as spendings grew. April-June sales increased by 5 percent to 1.33 trillion roubles. The company also said that average gas price for Europe and other countries fell by 18 percent to 12,798 roubles ($197.5)per 1,000 cubic metres in the first half of 2016.
Transneft Resumes Pumping via Baku-Novorossiisk Pipeline
Russian oil pipeline monopoly Transneft has resumed pumping oil via a pipeline from Azerbaijan's capital Baku to Russia's Black Sea port of Novorossiisk, RIA news agency cited a Transneft official as saying on Tuesday. "After the checks and tests of all the (pipeline's) systems pumping was resumed," the agency cited Igor Dyomin, an adviser to Transneft's president, as saying. Transneft stopped oil supplies to Novorossiisk on Monday after an earthquake hit a district in Azerbaijan.
Rosneft Delivers First Gasoline Cargo to Asia-Pacific
Energy giant Rosneft said on Thursday its trading arm had delivered an inaugural gasoline cargo to the Asia-Pacific, marking what could be Russia's first foray into a region dominated by OPEC producers from the Gulf. The 200,000-barrel cargo, bought by Rosneft from the international market and taken by Indonesian state energy company Pertamina, was delivered on free-on-board (FOB) terms to Malaysia. Rosneft declined to say from which refinery it had received the cargo.
