Gazprom announces plans to sell holiday resorts in Russia after annual loss
Gazprom, the Russian energy giant, announced on Tuesday that it would be selling off several holiday resorts. This comes after its first annual loss for almost 25 years. The Kremlin's company, which controls the largest gas reserves in the world, has suffered a net loss for 2023 of nearly $7 billion after its sales to Europe plummeted because of the rift between Russia and the West over Ukraine. Gazprom announced on Tuesday that it has put up for sale 14 hotels and resorts, including the Marriott Tsaghkadzor Hotel in Armenia's Valley of Flowers.
Sechin to Stay at Rosneft's Helm for 5 More Years - Vedomosti
The Russian government has extended a contract for Igor Sechin, a close ally of President Vladimir Putin, to stay as the chief executive officer of giant oil producer Rosneft for five more years, Vedomosti daily reported on Wednesday.The daily, citing three people familiar with the situation, said the government signed the order to extend Sechin's contract a few days ago.It said that a "federal official" has confirmed that the decision was approved by the government.Sechin, known for his criticism of the Organization of the Petroleum Exporting Countries, has been the CEO of the company since 2012.
Oil Rises by $1 on Expected Decline in US Crude Stocks
Brent oil prices rose by $1 on Tuesday to a one-week high on forecasts of a steep draw in U.S. crude stocks that could indicate global oversupply is starting to shrink. Benchmark Brent crude futures were trading up 95 cents, or 1.7 percent, at $55.87 a barrel at 1453 GMT. They hit an intraday high of $55.92. U.S. crude futures were up 52 cents at $52.64 a barrel. Both contracts defied a strong dollar, which hit a 14-year high. Crude prices often decline when the dollar strengthens as it then becomes more expensive to hold dollar-denominated oil contracts.
Oil Rises on Expected Decline in U.S. Crude Stocks
Weekly U.S. crude stocks seen down 2.4 mln barrels; Russia may extend output cut if needed - Novak. Oil prices rose on Tuesday on forecasts of a steep draw in U.S. crude stocks that could indicate global oversupply is starting to shrink. Benchmark Brent crude oil futures were trading up 56 cents, or 1 percent, at $55.48 a barrel at 1329 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 29 cents at $52.41 a barrel, not far off a one-week high of $52.52. Analysts polled by Reuters expected weekly U.S. crude oil inventories to show a draw of 2.4 million barrels in the week to Dec. 16.
Lukoil Not Interested in Rosneft
Russia's No.2 oil producer Lukoil is not interested in buying shares in its larger peer Rosneft, Lukoil's vice president Leonid Fedun said on Tuesday. "As far as I know the question is decided. The shares will be bought by Rosneftegaz," Fedun said, referring to the state-controlled holding which controls Rosneft. Last week, Russian business daily Vedomosti cited a source as saying that Russian President Vladimir Putin offered Lukoil's Chief Executive Officer Vagit Alekperov the opportunity to take part in Rosneft's privatisation.
Rosneft Cannot Buy Bashneft - Russian Dy PM
Gas and oil giant Rosneft cannot take part in the privatization of state company Bashneft, Deputy Prime Minister Arkady Dvorkovich said Thursday. Dvorkovich told Russian newspaper Vedomosti that Rosneft would be excluded from the deal as the Kremlin indirectly controls the firm through parent company Rosneftgaz. “It was decided not to allow companies directly or indirectly controlled by the state to participate in privatization,” Dvorkovich said. Rosneft applied to participate in the privatization deal on Tuesday, the Interfax agency reported.
Shell CEO Says Interested in Yuzhno-Kirinskoye Field
Royal Dutch Shell is interested to take part in developing Russia's Yuzhno-Kirinskoye field, Chief Executive Ben van Beurden told Russia's Vedomosti daily newspaper in an interview. He added that expansion of the Sakhalin-2 LNG project in Russia's Pacific Island of Sakhalin may need gas both from that field and from the Sakhalin-1 project. (Reporting by Katya Golubkova; Editing by Dmitry Solovyov)
Rosneft Reports Large Oil Spill on Sakhalin Island
Russian oil producer Rosneft said on Thursday that around 15 tonnes (110 barrels) of oil spilled off from an idled pipeline on the Pacific island of Sakhalin, while local ecologists say the scale of disaster is far larger. Rosneft said the spill occurred on Wednesday at the Ekhabi oilfield in northern Sakhalin. The company decided to burn the spilled oil to "minimise ecological damage". Dmitry Lisitsin, an activist at a local ecological watchdog in Sakhalin, estimated the size of the spill at about 300 tonnes.
India's ONGC to Buy Stake in Vankor
"It is reviewed for necessary consideration pravkomissiey. Previously we can say that the deal will require coordination, "- said the head of the control of foreign investment FAS Armen Khanyan. Share claimed by ONGC, he did not name, the newspaper "Vedomosti". "Vankorneft" (subsidiary company "Rosneft") holds the license for the largest field in Eastern Siberia - Vankor (reserves 500 million tons of oil and condensate and 182 billion cubic meters. Meters of gas). Last year, production at its 22 million tons.
Russian Gas Price to Europe Could Drop 35% in 2015
The price of Russian gas for most of the European Union and Turkey could fall by up to 35 percent this year, tracking oil prices lower, Russia's Vedomosti newspaper reported on Friday, citing forecasts by the country's Economy Ministry. The newspaper said the average price of gas supplied by Russian state-owned company Gazprom could be around $222 per 1,000 cubic metres for countries the company labels part of its "far abroad". Gazprom defines "far abroad" countries as the European Union minus former Soviet republics Lithuania, Latvia and Estonia, but including Turkey.
Russia: State Support for Rosneft Possible
Russian Economy Minister Alexei Ulyukayev said on Tuesday that the government may provide some support for sanctions-hit oil producer Rosneft, but significantly less than it had asked for. Igor Sechin, the head of Rosneft, has asked the government to provide Rosneft with 1.5 trillion roubles to help the company weather western sanctions over Moscow's role in the Ukrainian crisis, the Vedomosti newspaper reported earlier this month. "There are some options for the support but the sums' order of magnitude is less than that," Ulyukayev told reporters. Reporting by Alexei Anishchuk
Russia's Rosneft Seeks Government Cash - Newspaper
Igor Sechin, the head of Russian oil giant Rosneft, has asked the government to provide the company with 1.5 trillion roubles ($41.6 billion) to help the company weather western sanctions, the Vedomosti newspaper reported on Thursday. Under the plan, the state would spend money from its National Wealth Fund to buy Rosneft bonds, the paper reported, citing government sources. The paper added that Prime Minister Dmitry Medvedev had asked officials to analyse the idea. Rosneft net debt stood exactly at 1.5 trillion roubles at the end of the second quarter.
Putin's Aide Calls Gazprom Gas Export Monopoly 'Unshakeable'
The monopoly held by state-controlled Gazprom on the right to export Russian gas by pipeline was described as "unshakeable" by an aide to President Vladimir Putin on Wednesday. Gazprom has the sole right to export gas via pipelines and has secured a $400 billion deal to ship gas to China over 30 years. Other companies, including Kremlin-controlled Rosneft , have said they would also like to ship gas eastwards. Vedomosti newspaper this week quoted an order from Putin as saying the government should consider allowing producers other than Gazprom to export gas from new fields in east Siberia and Russia's far east.
Putin Mulls End of Gazprom Monopoly Pipeline Gas Sales to China
The Russian government should consider allowing gas producers other than Gazprom to export gas from new fields in east Siberia and Far East, Vedomosti daily newspaper said, citing an order from President Vladimir Putin. Russia's Gazprom has a monopoly right to export gas via pipelines, clinching a $400 billion deal to ship gas to China over 30 years in May. Russia's top oil producer Rosneft, led by CEO Igor Sechin, promised to take Gazprom to the court if it refuses to allow other producers to ship gas via the planned 'Power of Siberia' pipeline, which should also bring gas to Russia's remote eastern regions.
Russia Considers $5 bln rescue for Mechel
Mechel may issue convertible bonds and use proceeds to pay off a part of its debt. Some scenarios assume partial dilution of current owners. Russia is considering a $5 billion bail-out of Mechel, the country's largest producer of steelmaking coal, a government official said on Thursday, a rescue deal that could reduce the stake of controlling shareholder businessman Igor Zyuzin. The loss-making coal to steel group, hit by weak prices for its products, has been selling businesses to try to shore up its finances.
