Coronavirus-related Inspections Delay Venezuelan Oil Exports
At least two cargoes of Venezuelan crude have been delayed due to health inspections aboard tankers to prevent the spread of the coronavirus, according to an internal document from state oil company Petroleos de Venezuela seen by Reuters.The delays add to a growing glut of tankers…
Oil Surges 8% After Steep Slide
Oil surged on Wednesday, posting its strongest daily gain in more than two years in a partial rebound from steep losses that pushed crude benchmarks to lows not seen since 2017.Both U.S. and Brent crude rose about 8 percent, their largest one-day increase since Nov. 30, 2016, when OPEC signed a landmark agreement to cut production.
Arctic: ExxonMobil Exits, Rosneft Goes Ahead
Russian state oil company Rosneft will continue geological explorations in the Arctic offshore zone after ExxonMobil quits the joint projects, reports TASS. The report qouted Natural Resources Minister Sergey Donskoy saying that the Arctic licenses will remain with Rosneft and the company "plans to continue to operate there".
Rosneft, Eni Fail to Discover Oil at Black Sea Well
Russia's state oil company Rosneft and Italy's Eni did not make a commercial oil discovery in the Black Sea as the well they were drilling proved to be dry, a source close to the operations told Reuters on Wednesday. Rosneft chief executive, Igor Sechin, has partnered with a number of foreign companies to develop Russia's offshore regions…
Sistema: Rosneft Lawsuits Merely Offset Bashneft Costs
Russia's Sistema said on Thursday state oil company Rosneft was using lawsuits against the conglomerate to offset the cost of Rosneft acquiring mid-sized oil company Bashneft. The company has had no talks with Rosneft about an amicable settlement of the legal dispute, a spokesman for Sistema said…
Loss for Oil Looms as Profit-Taking Weighs
Global refiners import U.S. oil to make up for OPEC cuts. Oil prices fell on Friday and were set for a weekly loss as investors sought to book profits, despite tensions in the Middle East that have slashed supplies of crude. Brent crude was down 15 cents at $57.08 a barrel by 1230 GMT. U.S. light crude was 30 cents lower at $50.99.
Russian Court Told That Oil Boss Gave Minister $2 Mln in a Bag
A Russian court was told on Tuesday that a close ally of President Vladimir Putin personally handed the country's then economy minister $2 million in cash inside a lockable brown bag as part of an elaborate bribery sting. Former Economy Minister Alexei Ulyukayev is on trial on charges of extorting the $2 million bribe from Igor Sechin…
Rosneft Awards Tender to Sell Venezuelan Heavy Oil
Russian oil company Rosneft has awarded a group of refining and trading firms including U.S. companies a tender to sell a portion of its quota of Venezuelan heavy crude, three traders told Reuters on Wednesday. The deliveries will cover the September-December period. The crude grades offered include Venezuelan diluted crude oil (DCO)…
Novatek Aims to Topple Qatar from LNG Top Spot
Russian gas producer Novatek aims to topple Qatar as the world's biggest exporter of liquefied natural gas as it gets closer to completing its first LNG project, a top executive said, batting away concerns about U.S. sanctions on the sector. The country's largest non-state gas producer…
Rosneft's Bid for Essar Delayed
Essar Oil deal is biggest foreign acquisition in India; over a dozen Indian banks must approve deal. The purchase of Indian refiner Essar Oil by a consortium led by Russian oil company Rosneft has been delayed by a few weeks, the two sides said on Friday, because some Indian lenders to Essar have yet to sign off on the deal.
VTB Says Essar Acquisition Nearly Complete
The completion stage of the deal to acquire Indian oil refiner Essar Oil, led by Russian oil company Rosneft, will start on March 31, Yuri Soloviev, first deputy CEO of Russia's VTB bank, said on Wednesday. "We hope to finish it this week, it will take 19 days to settle all the payments…
Rosneft Purchase Leads $82 bln Spree by Sovereign Investors in 2016
Qatar's purchase of a stake in Russian oil company Rosneft last month crowned a year of mega-acquisitions by sovereign investors in 2016, with total deal value rising 22 percent to $82 billion whilst the number of transactions held steady. Other high-profile 2016 deals involving sovereign investors - a category consisting of wealth funds…
Nord Stream 2 Partners Rework Funding After Joint Venture Collapses
Western partners in Russia's Gazprom-led gas pipeline extension to Europe are examining alternative ways to fund it after Poland's cartel office blocked its clearance last month, company and legal sources say. Poland's rejection was based on concerns that Gazprom and its partners could bolster their market power…
One Killed in Accident at Rosneft's Komsomolsk Refinery
One worker was killed in an accident at oil company Rosneft's Komsomolsk refinery located in Russia's Far East, the refinery's press-service said in emailed statement on Tuesday. The worker was from a contractor firm working on the site, it added. The refinery added in a detailed…
ConocoPhillips Sells Stake in JV with Rosneft, Exits Russia
U.S. oil and natural gas producer ConocoPhillips has sold its 50 percent stake in a joint venture with Russian state oil company Rosneft, a ConocoPhillips spokesman said. The exit from Russia comes about five years after ConocoPhillips sold its biggest sole asset in Russia, a stake in Lukoil, for $9.5 billion.
Poland's PKN Expects First Saudi Oil Delivery in Nov
Poland's biggest refiner PKN Orlen, looking to ease its reliance on Russian supplies, is expecting its first delivery of Saudi Arabian oil at the start of November, calling it a step towards closer cooperation. "We are ahead of a tender that may lead to a new long-term contract. Our…
Russia: Saudi Oil to East Europe 'Toughest Competition'
Russian Energy Minister Alexander Novak said on Wednesday that Saudi Arabia's entry into East European oil markets, traditionally dominated by Russia, was the "toughest competition". "Every country has the right to sell where it thinks necessary. This is a competition, the toughest competition is going on now," Novak told reporters.
Saudis Sending Crude to Poland
Russia's Sechin says Saudis are "actively dumping" and Poland has received at least 3 Saudi cargos. Saudi Arabia has started supplying crude oil to Poland, the head of Russia's biggest oil company Rosneft said on Tuesday, becoming another Middle Eastern producer to enter a market traditionally dominated by Russia.
Kremlin Aide Belousov Becomes New Chairman of Rosneft Board
Kremlin aide Andrei Belousov was elected chairman of the board at Russian state oil company Rosneft, Chief Executive Igor Sechin told reporters on Wednesday. (Reporting by Vladimir Soldatkin and Denis Pinchuk)
E.ON Russia to Discuss New Contract from Rosneft
E.ON Russia plans to discuss signing a new gas-purchase agreement with Russian state oil company Rosneft, E.ON's Russian unit said on Tuesday. A spokeswoman for the company said it would be a new agreement. E.ON Russia's board plans to discuss the potential deal on June 10, she added. She did not provide any other details. Rosneft declined comment.
