Russia

The profit attributable to the shareholders grew by 85% and made up 15 bn Rub. The revenue of the Company for the reporting period increased by 38%, up to 177.8 bn Rub., EBITDA grew by 62%, to 48.6 bn Rub. The company reports its revenue increase was mainly driven by …

Ukraine, Russia and the European Union signed a deal on Thursday that will see Moscow resume vital supplies of gas to its ex-Soviet neighbor over the winter in return for payments funded in part by Kiev’s Western creditors reported Reuters. After several failed rounds of talks in recent weeks as …

M. N. Gagarin (LLC TyumenNIIgiprogaz) In the Russian Market, there are almost no widely available cheap technologies to collect and process associated petroleum gas, or APG. Similar technologies and projects can be found abroad, but these can be very expensive and would also need to be adjusted to Russian climatic …

Irina Chmeleva In recent months, the discussions about the impact of foreign companies and technology on Russian oil production have intensified at all levels. State officials, ranging from the President to various Ministers, have highlighted the need to boost domestic production of equipment in order to substitute imports. Given that …

The European Union has added another eight people and three companies to the ‘blacklist’ against Russia and Ukraine, EU official journal said on Wednesday evening. The sanction list included first deputy head of Russian presidential staff Aleksey Gromov, Governor of Northern Sea Route Bank Board Arkady Rotenberg, largest shareholder of …

Canada intends to lay claim to the North Pole as part of a bid to assert control over a large part of the resource-rich Arctic, Foreign Minister John Baird said on Monday, reported Reuters. Baird said Canada had filed a preliminary submission to a special United Nations commission collecting competing …

Rosneft, Gazprombank, Sovcomflot and Korean shipbuilding company Daewoo Shipbuilding & Marine Engineering Co. signed a Memorandum of Understanding on key terms of cooperation to establish shipbuilding and industrial cluster in the southern part of Primorskiy Krai (Russian Far East). The parties agreed to jointly complete the construction and launch a …

David Bamford, Finding Petroleum It is fashionable to identify deepwater – especially in the South Atlantic, unconventionals – especially in North America, and the Arctic – offshore Alaska, Russia, perhaps Greenland – as the ‘hot spots’ in the current global exploration scene. Onshore exploration remains unfashionable or it least so …

The Gazprom headquarters hosted yesterday evening a working meeting between Alexey Miller, Chairman of the Company’s Management Committee and Zhou Jiping, President of China National Petroleum Corporation (CNPC). The parties addressed issues related to the conclusion of a long-term contract for Russian gas supplies to China. The contract is planned to be signed before this year-end. “The price of gas to be supplied to China …

BP PLC revised down its estimates for proved reserves of natural gas in countries in the former Soviet Union by almost a third as it brought the numbers in line with Western accounting standards on reserves, BP Chief Economist Christof Ruehl said Wednesday. Russia’s gas reserves were revised down to …