ST PETERSBURG, Russia, June 16 (Reuters) – The International
Energy Agency, the West’s energy watchdog, stands ready to
release strategic reserves of crude oil to ensure adequate
supply and support the global economy, Executive Director Nobuo
Tanaka said on Thursday.
“We are ready to act at any time if necessary,” Tanaka told
a news conference in the Russian city of St Petersburg.
MOSCOW (Reuters) – Russia geared up to ship as much as much as 20 million tonnes of new-harvest grain to tight markets after lifting its export ban at the weekend, but buyers said the Black Sea powerhouse had to prove its reliability anew.
The head of Russia’s Grains Union lobby said Russia could export 20 million tonnes of grain from this year’s crop if the harvest reaches 85-90 million tonnes, in line with official forecasts.
NOVO-OGARYOVO, Russia (Reuters) – Russian Prime Minister Vladimir Putin said on Saturday his United Russia party needed new ideas and had to look beyond its own ranks ahead of this year’s parliamentary election.
Putin, who has said he may run for president in the 2012 presidential election, had called on Friday for the creation of a “popular front” made up of United Russia, labour unions, veterans and youth groups.
NOVO-OGARYOVO, Russia (Reuters) – Russian Prime Minister Vladimir Putin said Saturday his United Russia party needed new ideas and had to look beyond its own ranks ahead of this year’s parliamentary election.
Putin, who has said he may run for president in the 2012 presidential election, called Friday for the creation of a “popular front” made up of United Russia as well as labor unions, veterans, and youth groups.
MOSCOW/LONDON (Reuters) – High hurdles facing Russia’s Shtokman gas project leave the developers little choice but to delay the Barents Sea gas field plan that is too big to fail.
The partners in the venture — Norway’s Statoil (STL.OL: Quote, Profile, Research), France’s Total (TOTF.PA: Quote, Profile, Research) and Russian gas export monopoly Gazprom (GAZP.MM: Quote, Profile, Research) — met on Wednesday, but a long-awaited final investment decision was put off again.
MOSCOW (Reuters) – BP’s tie-up with Rosneft was at risk of collapse on Wednesday as the state-controlled Russian oil major said it would not extend a Thursday deadline on a $16 billion share swap.
The possible failure of the deal would hurt CEO Bob Dudley, who on Thursday faces shareholders angered by the Gulf of Mexico disaster as BP holds its AGM, and also Russian Deputy Premier Igor Sechin, who masterminded the deal for Rosneft.
LONDON (Reuters) – Independent Russian gas producers are likely to fill more space in Gazprom’s (GAZP.MM: Quote, Profile, Research) pipelines in the coming years as the state giant rations its resources and prospects for returns improve, TNK-BP’s (TNBP.MM: Quote, Profile, Research) head of gas development said.
“Given the size and scale of investment required in the gas sector over the next 10 years, Gazprom will have to find the right balance between investment in transportation infrastructure, including new export corridors, and gas production,” said Alistair Ferguson, executive vice president for gas business development.
OSLO/MOSCOW (Reuters) – Statoil’s half-a-billion barrel oil find in the Barents Sea will shift Norway’s oil industry away from the North Sea and toward the Arctic — a harsh region where costs and technical challenges mount.
Further east, in the Russian part of the Barents, a long awaited offshore boom may also soon begin as foreign partnerships help supply knowhow to tap potentially huge resources.
MOSCOW, April 2 (Reuters) – Russian President Dmitry
Medvedev gave Prime Minister Vladimir Putin a July 1 deadline on
Saturday to “initiate” the removal of top ministers from state
company boards, including powerful Putin deputy Igor Sechin.
Medvedev’s call for Sechin and other Putin allies to
relinquish posts as board members of state companies has stoked
speculation the president may be challenging his mentor ahead of
the March 2012 presidential election.
MOSCOW (Reuters) – Forget Arctic oil that may not be produced for decades; the unravelling of the deal between BP and Rosneft is all about controlling cash flows and potentially huge value as Kremlin Oil goes global.
“Komu vygodno?” — who benefits — is the play. It’s why BP and Rosneft want to save their proposed $16 billion share swap, even at the cost of abandoning their offshore oil hunt, to fend off the tycoons who own half of BP’s Russian venture TNK-BP.