Melissa's Feed
Jul 9, 2012

Floods damage Russian grain export routes

MOSCOW, July 9 (Reuters) – Floods that hit Russia’s Black
Sea coast have wrought chaos on major road and rail links to
Russia’s main grain export outlet, but stocks at the port are
high and may delay the impact on exports, trade and analyst
sources said on Monday.

Russian Railways said it had halted rail traffic to the port
of Novorossiisk to repair a bridge southwest of Krymsk, by far
the hardest hit town hit when floodwaters came crashing down
suddenly in the early hours of Saturday, killing at least 171
people.

Jul 8, 2012

Russia’s Putin seeks answers over deadly floods

MOSCOW, July 8 (Reuters) – Russian President Vladimir Putin
ordered investigators to find out if enough was done to prevent
144 people being killed in floods in southern Russia after
flying to the region to deal with the first big disaster of his
new presidency.

Putin, who was criticised for his slow reaction to disasters
earlier in his career, also ordered money to be put aside late
on Saturday for building new homes for victims of the worst
flooding in decades in Krasnodar, a relatively rich area with
thriving agriculture and tourism industries.

Jun 29, 2012

Gazprom to study LNG output expansion for Asia

MOSCOW (Reuters) – Gazprom said it had agreed to a feasibility study to expand Russia’s only liquefied natural gas plant, a victory for its partner Royal Dutch Shell (RDSa.L: Quote, Profile, Research, Stock Buzz), which has urged the state-run gas monopoly to seize a market opportunity in the Pacific.

Chief Executive Alexei Miller told a news conference on Friday that Gazprom would do a preliminary front-end engineering and design (pre-FEED) study on expanding the plant, on the Pacific island of Sakhalin, from 10 million tonnes of super-cooled liquefied natural gas per year to 15 million.

Jun 29, 2012

Gazprom sees progress on Sakhalin-2 LNG, Shtokman

MOSCOW, June 29 (Reuters) – Gazprom said it had agreed to a
preliminary feasibility study to expand Russia’s only LNG plant,
a victory for its partner Royal Dutch Shell, which has
urged the state-run gas monopoly to seize a market opportunity
in the Pacific.

Chief Executive Alexei Miller told a news conference on
Friday that Gazprom would do a preliminary front-end engineering
and design (pre-FEED) study on expanding the plant, on the
Pacific island of Sakhalin, from 10 million tonnes of
super-cooled liquefied natural gas per year to 15 million.

Jun 27, 2012

BP to up fracking in Siberia after well success

MOSCOW, June 27 (Reuters) – Russia’s TNK-BP said
it was encouraged by the results of unconventional drilling at
an old West Siberian field, the first of several projects to
determine the efficacy of “fracking” to boost output in the
declining province.

TNK-BP, half-owned by BP, said it had drilled a
production well in April at the Severo-Khokhryakskoye field,
near its main production assets in Western Siberia, and resumed
drilling on a larger scale after receiving encouraging results.

Jun 23, 2012

Russia shifts from resource nationalism to globalism

ST PETERSBURG, Russia (Reuters) – President Vladimir Putin left global oil executives in little doubt as to who was the master of the world’s largest energy reserves at Russia’s answer to Davos.

The sky over St Petersburg was turning white at the end of the longest day of the year, and the financiers and leaders of global industry who had gathered as Putin’s guests at this year’s forum were retiring to lavish parties and rooftop bars.

Jun 22, 2012

Talks to save Shtokman gas project go down to wire

ST PETERSBURG/LONDON, June 22 (Reuters) – Negotiations to
save a Gazprom-led consortium charged with developing
one of the world’s biggest natural gas fields continued on
Friday, sources close to the consortium said as a
Kremlin-imposed deadline drew near.

Gazprom’s partners in the Shtokman Development Consortium,
Statoil and Total, were in St Petersburg
attempting to hammer out a new agreement, which could be
announced at the Russian government’s annual economic showcase
that ends on Saturday afternoon.

Jun 22, 2012

France to regain access to Turkish energy industry

ST PETERSBURG, June 22 (Reuters) – Turkey’s resumption of
diplomatic ties with France means French companies may regain
some, if not full access to Turkey’s energy sector, including
its nuclear industry, Turkey’s Energy Minister Taner Yildiz said
on Friday.

After a meeting between Turkish Prime Minister Tayyip
Erdogan and new French President Francois Hollande, Ankara
announced on Thursday it would restore ties with France after a
six-month hiatus in a dispute over the 1915 mass killing of
Armenians by Ottoman Turks.

Jun 20, 2012

Rosneft ups dividend with an eye on Exxon

ST PETERSBURG, Russia (Reuters) – Russian Rosneft’s politically powerful chief executive said the state oil company would double its dividend payout for last year, saying he wanted shareholder returns to be competitive with U.S. majors.

Igor Sechin, who assumed the CEO’s chair after serving as deputy prime minister and oil “tsar” during Putin’s premiership, said the company would pay a total of 7.53 roubles per share on last year, doubling the planned payout.

Jun 15, 2012

Exxon to back Rosneft’s Siberian search for ‘tight’ oil

TUAPSE, Russia (Reuters) – Rosneft (ROSN.MM: Quote, Profile, Research, Stock Buzz) advanced an alliance with U.S. major ExxonMobil (XOM.N: Quote, Profile, Research, Stock Buzz) on Friday that will help finance a push by Russia’s top oil producer to drill in Siberia for tight oil – - oil held in non-porous rock which cannot be extracted by conventional drilling.

With ExxonMobil’s chief executive on hand, the state oil company’s head Igor Sechin presented a Rosneft strategy paper to President Vladimir Putin that envisaged 300,000 barrels per day of potential production from unconventional reserves in Siberia.