Gazprom Neft is Increasing Oil Supplies from the Chayandinskoye Field to the ESPO
Gazprom Neft launched a system for transporting oil from Gazprom’s Chayandinskoye field in Yakutia to the Eastern Siberia – Pacific Ocean trunk pipeline. Completion of construction of the field infrastructure will allow the company to deliver up to 1.5 million tons of oil annually to the ESPO. In the coming years, …
RPI: ESPO Holding Back Production
Vadim Kravets In September 2013 the board of directors of Transneft approved the company’s investment program for 2014 and until 2018. The document sets out the scope of funding for the construction and upgrade of the existing pipelines. Specifically, the program calls for allocating over 100 billion rubles in order …
Rosneft and CNPC Sign Memorandum to Expand Cooperation in Upstream Projects in East Siberia
Rosneft President and Chairman of the Management Board Igor Sechin and Chairman of the China National Petroleum Corporation Zhou Jiping have signed a Memorandum to expand cooperation in upstream projects in East Siberia in the presence of first vice premier of the People’s Republic of China Zhang Gaoli. The Memorandum …
Rosneft Closes Acquisition of 35.3% Stake in Taas-Yuryakh Project from Sberbank
Rosneft has closed a deal to acquire a 35.3% stake in Taas-Yuryakh Neftegazodobycha from Sberbank. The value of the deal was set to correspond to the historic cost of the project for Sberbank, equalling $444 million. Taas-Yuryakh Neftegazodobycha is the holder of oil production licences for the Srednebotuobinsk oil and …
TNK-BP and PetroVietnam Sign ESPO Blend Oil Supply Contract
TNK-BP announces that today, as part of its long-term cooperation with Vietnamese state corporation PetroVietnam, it has signed the contract to supply Russian ESPO crude oil blend to Vietnam. This is the first time ESPO crude oil blend will be delivered to Vietnam. The first 100,000 ton shipment under the …