Energy

…Plans to name winner of Udmurtneft tender in May

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Russian-British oil company TNK-BP is to name the winner of a tender to buy Udmurtneft at the end of May, TNK-BP President Robert Dudley said in London last Monday. He said the company would...

TNK-BP net profit increase yields 2% in Q1…

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The BP share of net profit at Russian-British oil company TNK-BP, of which the British company owns half, amounted to USD 418 million in the first quarter 2006, compared with USD 411 million in...

NEGP requires exceptions from EU directives-Medvedev

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The Northern Europe Gas Pipeline (NEGP) project requires exceptions from the European gas directives concerning access for other countries to the gas transport system in order to be profitable, Gazprom Deputy Chairman and head...

LUKoil eyes new assets abroad

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Russian oil major LUKoil intends to expand and strengthen its presence in Kazakhstan as it has set an ambitious objective to become the second player in the oil market of the former Soviet republic,...

BTC construction cost may climb 30% – BP

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The cost of constructing the Baku-Tbilisi-Ceyhan (BTC) pipeline may climb 30 percent to 3.9 billion Euro from the earlier price of 2.95 billion Euro, BP-Azerbaijan President David Woodward said at a press conference, Interfax...

Total to pay Russia 14.5 mln Euro for share in Kharyaga

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The company Total Exploration and Production Russia, the operator for the Kharyaga production sharing agreement, is to pay Russia 14.5 million Euro for the first quarter this year for its share in profitable production...

Chevron, ConocoPhillips joint Shtokman drilling yet to be

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US companies Chevron and ConocoPhillips, which are holding talks with Russian gas giant Gazprom about participating in the development of the Shtokman gas condensate field, do not plan to join their applications until Gazprom...

Turkmen-Chinese gas pipeline to become new Silk Road

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Construction of a Turkmen-Chinese gas pipeline will have symbolic meaning, Turkmen President Saparmurat Niyazov said. “The Turkmen-Chinese pipeline will become a modern version of the Great Silk Road, which has connected our countries since...

Finland not planning to build NEG branch

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Finland is not planning to take part in the construction of a North-European Gas pipeline (NEG) branch because it does not need additional Russian gas supplies, Finnish Prime Minister Matti Vanhanen said. “With regards...

Tatneft net profit increases 50% in 2005

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Net profit at Russian oil company Tatneft to Russian accounting standards increased 49.75 percent in 2005 to 36.87 billion rubles from 24.52 billion rubles in 2004, the company said in a statement. Growth in...

Rosneft to consolidate all its subsidiaries

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Rosneft President Sergei Bogdanchikov has reported to the Russian president that last Monday the company’s board of directors and the boards of its subsidiaries approved a decision to consolidate. “A very important decision has...

Gas production a promising area for LUKoil – Alekperov

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LUKoil President Vagit Alekperov believes gas production to be a promising area for the company. “This year we could bring our first field - the Nakhodkinskoye field in Yamalo-Nenets autonomous district, to target capacity....

KPO to increase supplies through CPC by 10% – BG

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The Karachaganak Petroleum Operating (KPO) consortium plans to increase hydrocarbon supplies from the Karachaganak oil and gas condensate field through the Caspian Pipeline Consortium pipeline to 7.7 million tonnes, to be exported to Western...

Gazprom’s capitalisation may exceed USD 300 billion

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The capitalisation of Gazprom may exceed USD 300 billion, Alexei Miller, CEO of the Russian gas giant, told Channel One’s Voskresnoye Vremya news programme. “Gazprom is the most successful Russian company in the world...

Eastern pipe endpoint to be set by Oct-Nov

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The endpoint of the Eastern Siberia-Pacific Ocean pipeline will be agreed by October-November, Industry and Energy Minister Viktor Khristenko told journalists last Monday. “The first stage of construction of the Eastern Siberia-Pacific Ocean pipeline...

Sakhalin-1 exports to start in July

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The Sakhalin-1 consortium plans to start exporting oil after the launch of a terminal at the port of De-Kastri in Khabarovsk in July 2006, ExxonMobil Development president Mark Alberts said at a conference in...

Gazprom puts cost of offshore projects at USD 500 bln…

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Gazprom estimates the cost of priority work to develop offshore fields until 2030 at USD 500 million, Boris Nikitin, first deputy director of the company’s gas, condensate and oil production department, said at an...

Russia vows to save the day in global energy market

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Russia, the world’s largest gas supplier and second largest oil exporter, is concerned by the high crude oil prices fuelled by worries of supply from Iran and the unpredictability of the global energy market,...

LUKoil needs refining, sales assets in Europe, Asia

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LUKoil’s activities over the next five years will be aimed at bringing sales markets and sources of crude closer together, Interfax quoted LUKoil President Vagit Alekperov as saying at a press conference in Khanty-Mansiisk...

Vitol wins fifth 2006 Azeri light tender

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Vitol has won a tender called by Azeri state oil company SOCAR for the fifth consignment of Azeri Light crude oil produced at Azerbaijan’s Azeri-Chirag-Gunashli (ACG) fields this year, a source at SOCAR told...

Rosneft becomes direct owner of 76.79% of Yuganskneftegaz

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Russian oil company Rosneft has become the direct owner of 76.79 percent of charter capital (100 percent of common shares) in Yuganskneftegaz, Rosneft said in a statement. Previously Rosneft owned 50 percent of charter...

China wants another Kazakh- Chinese oil pipeline

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China is interested in constructing a second branch of the Kazakh-Chinese oil pipeline, said Kazakh Foreign Minister Kasymzhomart Tokayev. “An oil pipeline with a capacity of 20 million tonnes has been built from western...

Sakhalin-3 budget about USD 80 million in 2006

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The budget for the Sakhalin-3 project (Veninsky block) in 2006 will be about USD 80 million, Alexander Kalshchikov, director of the well construction department at Rosneft subsidiary Sakhalin Projects, told Interfax. He said about...

Siberia-Pacific pipeline co calls tender for pipe parts

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The East Siberia - Pacific Ocean (ESPO) Project Management Centre called an open tender for suppliers of pipeline parts for the first phase of the ESPO pipeline system, the company announced. The fastening parts, including...

Rumours in north-Caspian operator groundless

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Rumours of a change in the operator at the North-Caspian project are groundless, a source in the Agip-KCO consortium told Interfax. All possible scenarios have been discussed by the mass media for over six...

Georgia establishes oil, gas corporation

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Georgian Gas and Oil Corporation has been established, Georgia’s Economic Development Ministry reported. The company was founded by Georgian International Oil Corporation, Georgian International Gas Corporation and Gruzneft, which are wholly state-owned. The new company’s...

LNG plant construction in Leningrad at USD 1.5 bln

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A project to build a liquefied natural gas (LNG) plant in the Leningrad region, which is planned to be jointly carried out by Gazprom and Petro-Canada, would cost about USD 1.5 billion, Petro-Canada Vice...

… holds LNG talks with Mitsubishi

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Gazprom CEO Alexei Miller discussed current liquefied natural gas (LNG) supplies and new LNG projects with Yorihiko Kojima, the CEO of Mitsubishi Corp., last Tuesday, Gazprom said. The two discussed Mitsubishi’s proposals on cooperation...

… discusses NEGP with Gasunie…

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Gazprom CEO Alexei Miller and the Dutch ambassador to Russia discussed the prospects for cooperation between the Russian gas giant and Gasunie in the North European Gas Pipeline (NEGP) project, Gazprom’s press office said....

… starts LNG shipments to UK…

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Gazprom has begun its first shipments of liquefied natural gas (LNG) to the terminal on the Isle of Grain in the United Kingdom. The shipment was conducted through Gazprom’s subsidiary Gazprom Marketing and Trading...

… discusses cooperation on gas exports with Iran…

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Russian gas giant Gazprom is negotiating on cooperation with Iran in the gas export sphere, Gazprom’s press service reported following the company’s CEO Alexei Miller’s meeting with Iranian Ambassador to Russia Gholamreza Ansari. The...

Gazprom hopes for mid-tern LNG deal with US in 2006…

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Russian gas giant OAO Gazprom hopes to reach an agreement in 2006 on supplies of liquefied natural gas to the US in the mid-tern future, Gazprom Deputy CEO Alexander Medvedev said at an energy...

German firms acknowledge gas competition with Asia

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German energy companies E.ON and Wintershall understand that the time has come when countries in Europe will have to compete for Russian gas with countries in the Asia-Pacific region. Reiner Hartmann, head of the...

Gazprom to supply 68 bcm of gas to China per year by 2020

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Supplies of Russian gas to China by 2020 may reach 30 billion cubic metres through a western pipeline and 38 billion cubic metres through an eastern pipeline, Industry and Energy Minister Viktor Khristenko said...

Russia unhappy with Total work at Kharyaga

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A check carried out by the Russian Natural Resource Ministry and natural resource watchdog Rosprirodnadzor indicates that France’s Total has not meet production and drilling targets at the Kharyaga oil field in Nenets autonomous...

Gazprom in consultations with Shtokman candidates

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Russian gas giant Gazprom has begun the final stage of consultations with the short-list of companies contenting to take part in the first phase of development at the Shtokman field. Gazprom CEO Alexei Miller...

Russia declines German pipeline credit

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Amid a row over the appointment of Gerhard Schroeder at one of its subsidiaries, Russian gas monopolist Gazprom said last Monday it would not now need a USD billion credit guaranteed by the German...