Melissa's Feed
Mar 25, 2011

BP’s Dudley in spotlight as Rosneft deal blocked

LONDON/MOSCOW (Reuters) – BP (BP.L: Quote, Profile, Research, Stock Buzz) boss Bob Dudley has come under fire after an Arctic exploration deal with Russian group Rosneft (ROSN.MM: Quote, Profile, Research, Stock Buzz) was blocked by the British oil company’s partners in joint venture TNK-BP TNKBP.UL.

An arbitration panel ruling prevents BP and state-controlled Rosneft, Russia’s largest oil company, jointly exploring for oil in the country’s Arctic region and from executing a $16 billion share swap.

Mar 1, 2011

Gazprom gas field win clears way for china export

MOSCOW, March 1 (Reuters) – Russian gas export monopoly
Gazprom (GAZP.MM: Quote, Profile, Research, Stock Buzz) won the rights to a giant Siberian gas field
destined to supply the fast-growing markets of China, a
spokesman for the sale organiser said on Tuesday.

Victory at the auction will allow Gazprom to extract the
field’s 2 trillion cubic metres of reserves, enough to supply
the world for eight months, and forge deeper ties with China,
where the Russian energy giant plans to start exporting gas in
2015.

Feb 17, 2011

BP board awaits management ideas on BP-Rosneft

MOSCOW, Feb 17 (Reuters) – The board of Russia’s TNK-BP
(TNBP.MM: Quote, Profile, Research, Stock Buzz) is waiting for its management’s proposal on a role in
shareholder BP Plc’s (BP.L: Quote, Profile, Research, Stock Buzz) partnership with state oil company
Rosneft (ROSN.MM: Quote, Profile, Research, Stock Buzz), sources close to the board said on
Thursday.

Members of the management and board of directors had said
the board could discuss the BP-Rosneft tie-up at a Feb. 18
board meeting in Paris, although an immediate decision was
unlikely.

Feb 15, 2011

Credit crunch puts Russia harvest at risk-growers

MOSCOW, Feb 15 (Reuters) – Russia’s farmers are under
pressure to boost spring sowings to make up for a shortfall in
winter acreage, but financing for the new season is in doubt
after last year’s drought wiped out their credit.

Agriculture Minister Yelena Skrynnik on Tuesday reiterated
the official 2011/2012 harvest forecast of 85 million tonnes of
grain, but meeting the target will depend on access to financing
for Russia’s farmers, the head of a producers’ group said.

Jan 27, 2011

Russia, Exxon relations thaw with $1 billion deal

MOSCOW/DAVOS, Switzerland (Reuters) – ExxonMobil will invest in Russia for the first time in more than a decade as Moscow seeks to thaw its frosty investor climate and keep its oil flowing.

Russian state oil company Rosneft (ROSN.MM: Quote, Profile, Research) will develop over a billion tonnes of Black Sea oil using a $1 billion (628 million pounds) investment by U.S.-based ExxonMobil (XOM.N: Quote, Profile, Research), the world’s biggest publicly traded oil company whose relationship with the top oil-producing country has been poor in the 21st century.

Jan 27, 2011

Petropavlovsk plays down 2011 gold output target

MOSCOW, Jan 27 (Reuters) – Russian gold miner Petropavlovsk
PLC (POG.L: Quote, Profile, Research, Stock Buzz) forecast a “conservative” 18 percent increase in
gold output in 2011 because it wants to avoid disappointing
investors with further downgrades, its chairman said.

Petropavlovsk, which plans to produce 600,000 ounces of gold
in 2011 delivered slightly less than its final forecast of
510,000-530,000 in 2010, in a trading update issued on Thursday.

Jan 27, 2011

Rosneft adds $1 billion Exxon deal to BP tie-up

MOSCOW/DAVOS, Switzerland (Reuters) – Russia’s Rosneft (ROSN.MM: Quote, Profile, Research, Stock Buzz) is to develop over a billion tonnes of Black Sea oil using $1 billion of ExxonMobil (XOM.N: Quote, Profile, Research, Stock Buzz) funds in a deal struck just days after an Arctic tie-up with Britain’s BP.

Russia’s Deputy Prime Minister Igor Sechin, who is also the chairman of Russia’s top oil company, signed the deal along with Rex Tillerson, Chief Executive of U.S. No. 1 ExxonMobil, at the World Economic Forum in Davos on Thursday.

Jan 27, 2011

Rosneft adds $1bn Exxon deal to BP tie-up

MOSCOW/DAVOS, Switzerland, Jan 27 (Reuters) – Russia’s
Rosneft (ROSN.MM: Quote, Profile, Research, Stock Buzz) is to develop over a billion tonnes of Black
Sea oil using $1 billion of ExxonMobil (XOM.N: Quote, Profile, Research, Stock Buzz) funds in a deal
struck just days after an Arctic tie-up with Britain’s BP.

Russia’s Deputy Prime Minister Igor Sechin, who is also the
chairman of Russia’s top oil company, signed the deal along with
Rex Tillerson, Chief Executive of U.S. No. 1 ExxonMobil, at the
World Economic Forum in Davos on Thursday.

Jan 17, 2011

Russian oil tsar Sechin goes global with BP deal

MOSCOW (Reuters) – BP’s $16 billion share swap with state-controlled Rosneft means energy tsar Igor Sechin has delivered on one of Prime Minister Vladimir Putin’s boldest dreams: taking Russia’s national champions global.

The deal, which gives Rosneft a 5 percent stake in BP, cements both Deputy Premier Sechin’s position at the peak of world energy politics and his clout as Putin’s top dealmaker.

Dec 20, 2010

Russian potash miner Uralkali to buy Silvinit

MOSCOW, Dec 20 (Reuters) – A Russian billionaire set the
terms on Monday for a merger of Russia’s top two producers of
potash, Uralkali (URKA.MM: Quote, Profile, Research, Stock Buzz) and Silvinit (SILV.MM: Quote, Profile, Research, Stock Buzz) to create the
world’s No. 2 player.

The deal marks another step in consolidation in the global
potash business, where a battle for dominance spurred BHP
Billiton’s (BHP.AX: Quote, Profile, Research, Stock Buzz)(BLT.L: Quote, Profile, Research, Stock Buzz) attempt to take over Canada’s Potash
Corp (POT.N: Quote, Profile, Research, Stock Buzz), which ultimately failed. [ID:nSGE6AE01K]