Saturday | August 24 | 2019
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  • Gazprom sets gas export records

    Gazprom has reported that European gas exports has reached record highs. The company pumped 615.5 million cubic meters to non CIS states on January 6, beating the previous record set just a day before. "We have reached a totally new level of gas exports in conditions of a cold snap, lower extraction volumes in Europe and higher demand for gas on the energy market," Gazprom's CEO Alexey Miller said in a statement on Saturday. A day earlier, the energy giant delivered 614,6 million cubic meters of gas to Europe, TASS news agency reported. Gazprom provides over 30 percent of EU’s gas, and the gas supply volumes – if they remain at the current levels – will top last year’s projected figures by 10 percent, Miller added.In 2016, Gazprom delivered 12 percent more gas to countries outside the former USSR territories than in 2015, and supplied Europe with 179,2 billion cubic meters of gas, Miller said in December.“It’s a historic high,” the company’s CEO said, as cited on the Gazprom’s website.

  • Renewed relations and energy cooperation between Russia and Qatar
    In December, the Qatari sovereign wealth fund along with commodities trader Glencore signed a deal to buy a 19.5 percent stake in Russia’s largest oil company Rosneft. The deal worth $11.3 billion has become the biggest privatization deal in Russia, according to Rosneft CEO Igor Sechin.
  • Russia and Saudi Arabia agree to cooperate on oil prices
    Russia and Saudi Arabia said on Monday that they would cooperate to stabilize oil prices, a potential sign that the production freeze talks set to take place in a few weeks could be headed for a successful outcome.
  • Gazprom Neft ramps up Arctic oil production
    Three export terminals on Russia’s Arctic coast shipped an average of 230,000 barrels of crude in the second quarter of 2016 (Bloomberg calculations). There are three potentially giant fields in Russia’s Arctic that are currently being developed: the onshore Kharyaga, Trebs and Titov, and Prirazlomnoye. The government has introduced tax relief for companies involved in Arctic exploration and development as a way of stimulating these activities. The government is working on a comprehensive standard for Arctic exploration that will seek to establish the most appropriate technology and equipment to be used in the development of oil and gas deposits in the region. This also includes the design of new equipment to suit the needs of different fields.