Energy

AIOC oil production up 160% in 2 months

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Azerbaijan International Operating Company (AIOC), the operator for Azeri, Chirag, and Gunashli fields in Azerbaijan’s sector of the Caspian Sea, produced 2.97 million tonnes of oil from Azeri and Chirag in January-February, up 160...

PGNiG, Statoil hold talks to build gas pipeline

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Poland’s PGNiG and Norway’s Statoil are holding talks to build a Norway-Poland gas pipeline. The next round of talks will take place in February 28, according to information from the Russian trade representation in...

Shell, Statoil announce joint energy plan

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Energy giants Shell and Statoil last Wednesday announced a plan to use carbon dioxide to increase offshore oil recovery in the North Sea. Carbon dioxide (CO2) would be captured from power generation and pumped...

Iran agrees to higher price for Turkmen gas

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Iran has agreed to pay USD 65 per 1,000 cubic metres of Turkmen gas, the press service of Turkmen President Saparmurat Niyazov told Interfax. Niyazov and his Iranian counterpart Mahmud Ahmadinejad approved the price...

SOCAR to set up company to sell oil in London

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Azeri state oil company SOCAR plans to set up an affiliated company in London to carry out direct sales of oil on the ICE Futures exchange, a source in the company told Interfax. “With...

Gazprom to discuss LNG deliveries to N. America

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A delegation of Russia’s gas giant Gazprom is due to visit Canada in mid-March to discuss shipments of liquefied natural gas (LNG) to the North American market, Russian Foreign Minister Sergei Lavrov said. Lavrov was...

Naftan, LUKoil venture to be registered April 10

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A joint venture between Belarussian company Naftan and Russian oil major LUKoil to produce additives for motor oil will be registered on April 10, 2006, Belarussian First Deputy Prime Minister Vladimir Semashko said last...

Azerbaijan boosts Russian gas imports 10% in Jan-Feb

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Azerbaijan imported 891 million cubic metres of gas from Russian in January-February 2006, up 10.3 percent year-on-year, a source at Azeri state oil company SOCAR said. Gas imports in February amounted to 418.6 million...

Russian gas production may reach 635-665 bcm by 2010

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Gas production in Russia by 2010, according to pessimistic forecasts, should amount to 635 billion cubic metres, according to a draft fuel and energy balance for Russia and Belarus in 21010-2020. A source in...

Beijing not happy with oil, gas cooperation with Russia

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China is not satisfied with the development of energy cooperation with Russia, deputy director of the Chinese National Development and Reform Commission Zhang Guobao told Interfax. The practical development of cooperation is not significant,...

Gazprom did not bid officially for gas company in UK

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The Russian gas monopoly Gazprom has not yet made an official bid for buying gas companies in the Untied Kingdom, UK Minister of State for Europe Douglas Alexander told Interfax. Alexander said he had...

Chevron puts Shtokman investment at 10 bln Euro

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US oil and gas company Chevron estimates investment needed to implement the first phase of a project to develop the Shtokman gas condensate field in the Barents Sea at 10 billion Euro, Chevron Neftegaz...

LUKoil’s Alekperov to visit Algeria

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LUKoil President Vagit Alekperov plans to visit Algeria this week, Alexander Vasilenko, director of the oil company’s PR department, told Interfax on February 28. He said that company management plans to consider projects in...

Eurelectric calls for energy efficiency in Europe

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Electricity, with its unique properties, should be seen as the energy vector to drive greater energy efficiency in Europe, the Union of the Electricity Industry-Eurelectric said in a paper on February 28 in response...

Solar group launches production in China

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German sun-powered cell maker ErSol announced last Tuesday it had begun manufacturing solar equipment in China. The production of modules by Shanghai Electric Solar Energy Ltd began last Tuesday, the Erfurt-based ErSol said. The...

National Grid buys energy supplier KeySpan

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British energy company National Grid Plc with operations in New York and New England is taking over competitor KeySpan Corp. for a cash price of USD 7.3 billion, the companies said last Monday. National...

Rosneft to drill 2 Sakhalin exploration wells in mid-2006

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Russian oil company Rosneft plans to drill two exploration wells at the Sakhalin-3 and Sakhalin-5 projects, which it is developing together with foreign partners, in the middle of this year. According to a statement...

TNK-BP replaces 137% of production with new reserves

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Growth in reserves of liquid hydrocarbons at Russian-British TNK-BP in 2005 was 37 percent higher than production, the company said in a press release. The press release said that the independent firm of DeGolyer...

Plan for Russian gas industry development due in April

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Russian gas giant Gazprom expects the completion of the general plan for developing the gas industry in April. Interfax quoted the company as saying it will use the general plan to draw up a...

Shell prepared for capital intensive projects in Russia

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Royal Dutch Shell is considering a role in capital intensive hydrocarbon projects in Russia, Chris Finlayson, Interfax quoted the head of Shell’s Russia office, as telling reporters. Russia will remain a country where Shell...

Northwestern Oil Group, Oil India eye Udmurtneft

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Northwestern Oil Group, which holds a number of operating licenses in Russia’s Saratov region, and Oil India have made a joint bid to buy 96.9 percent of Udmurtneft, which produces around six million tonnes...

South Russkoye field capacity at 25 bcm of gas

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The capacity of South Russkoye oil and gas field in Yamal-Nenets autonomous district is planned at 25 billion cubic metres of gas a year, according to an environmental impact study. The launch complex for...

Miller, Luzhkov discuss situation at Moscow refinery

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Gazprom CEO Alexei Miller has held a working meeting with Moscow Mayor Yury Luzhkov in the company’s head office, the gas company’s press department said. “At the meeting the sides discussed issues connected with...

SOCAR to sign contract for deep ACG reserves

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Azeri state oil company SOCAR plans to sign a contract for the development of deep-lying reserves at the Azeri-Chirag-Gunashli fields, company First Vice President Khoshbakht Yusifzade told Interfax. “A contract with a consortium of...

Russian oil companies cut exploration drilling 36%

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Russian oil companies drilled 42,900 metres of exploration wells in January, down 36 percent year-on-year, and 651,500 metres of production wells, down seven percent year-on-year. Surgutneftegas drilled 12,800 metres of exploration wells, down 32...

Oil traders fret over potential supply disruptions

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Oil futures clung to a narrow range last Tuesday as the market braced for an expected Arctic blast in the United States that could drive up heating oil prices, while traders fretted over potential...

BP and TNK-BP discuss Baku-Tbilisi-Ceyhan pipe

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British Petroleum and TNK-BP are discussing the possibility of transporting TNK-BP oil through the Baku-Tbilisi-Ceyhan pipeline, BP Azerbaijan President David Woodward told Interfax recently. He said they have not yet reached the stage of...

Hamburg wind power firm strengthens ties in Japan

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German wind power engineering company REpower Systems disclosed on December 17 that it won another major project order in Japan for a wind farm on the island of Honshu. Deutsche Presse-Agentur (dpa) quoted Hamburg-based...

Gazprom, Statoil talk liquefied gas projects

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Gazprom’s CEO Alexei Miller and Helge Lund, president and senior manager at Norway’s Statoil ASA, discussed cooperation prospects involving the extraction and transportation of liquefied natural gas last Monday, Interfax quoted Gazprom as saying....

Europe to buy Gazprom gas

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No less than 180 bln metres of gas to be transported by 2010 Gazprom offices are instructed to work out a programme for the synchronisation of commissioning resource and transport capacities for 2006-2010 on the...

Tatneft mulls new Tupras tender participation

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Russian oil company Tatneft may take part in a new tender for the state stake in Turkish refiner Tupras, Tatarstan President Mintimer Shaimiyev said in a statement, distributed by his press service. “It is possible...

Russian oil production slows in H2

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Russia has been reducing monthly oil output growth since July on a year-on-year basis, the Russian Economic Development and Trade Ministry said in a report ahead of last Wednesday’s cabinet meeting. Interfax quoted the ministry...

Sibir shareholders approve MOGC stake increase

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Shareholders in Britain’s Sibir Energy approved at an extraordinary general meeting (EGM) on December 20 an increase in the company’s stake in Moscow Oil and Gas Company to 71 percent, the company said in...

Azeri Shahdeniz field rich in gas resources

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The first batch of gas from Shahdeniz field in the Azeri sector of the Caspian Sea is expected to be produced in mid-2006, it was reported recently. The credit agreement on Shahdeniz field development...

Russia to supply Belarus with 19.1 bcm of gas

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Russia will supply Belarus with at least 19.1 billion cubic metres of gas in 2005, with an additional 1.4 billion cubic metres possible if technical capacity allows, Alexander Ryazanov, deputy chief executive of Russian...

Gazprom to sell Gazpromneft but no change in strategy

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The executive board at Gazprom has decided to sell the gas giant’s interest in Gazpromneft, but this will not affect the company’s strategy on the petroleum market or the liberalisation of its share market,...

Sibneft, TBK-BP announce petrol price cuts plan

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Russia’s Sibneft will reduce its wholesale prices by 5 to 7 percent, depending on the region, Interfax reported recently. However, the company has yet to decide on the reduction of the retail prices across...