During the discussion in the Russian government on 18 September, Alexander Novak, the Minister of Energy of Russia, announced the Ministry's initiative to introduce certain tax benefits for oil companies operating in Western Siberia, reports Kommersant. According to Mr Novak, the proposed measures would provide incentives for the E&P companies to intensify geological exploration in … Continue reading Russian Ministry of Energy proposes new tax benefits to combat oil production decline in Western Siberia →

Gazprom, a Russian state-owned gas company, has started designing a new gas pipeline to the Peoples Republic of China (PRC), reports Kommersant. The new pipeline will be an extension of the existing Sakhalin - Khabarovsk - Vladivostok pipeline, which was initially designed to supply natural gas to Russia's Far East from the Sakhalin island. The … Continue reading Gazprom designs new gas pipeline to China via the ‘Eastern Route’ →

On 25 July 2018 Transneft, a Russian state-owned oil pipeline monopoly, paid off a $10 billion loan from the Chinese state bank CDBC ahead of schedule, said the company's CEO Nikolai Tokarev. Though he did not disclose the sum of the final payment, according to Kommersant, a Russian business newspaper, in July Transneft paid CDBC … Continue reading Transneft paid off a $10 billion Chinese loan ahead of schedule to mitigate currency exchange and sanctions risks →

In 2017 Russian oil and gas companies increased investments in exploration in production by 38% to $58 billion, International Energy Agency (IEA) reported. One of the reasons for such dramatic change was the Russian rouble appreciation in 2017, but this figure also reflects growing spendings by the Russian oil and gas majors due to the … Continue reading Russian oil and gas companies increased E&P spendings by 38% in 2017 →

Rostec, a Russian state-controlled high-tech industrial holding, has announced its plans to explore business opportunities and participate in developing new technologies and equipment for Bazhen tight oil project in Khanty-Mansi autonomous district, reports Interfax news agency. “Rostec is our strategic partner,” says Alexey Zabozlaev, vice-governor of Khanty-Mansi autonomous district. “We will cooperate with Rostec on … Continue reading Rostec to join technology development project for Bazhenov tight oil formation →

Chinese oil and gas companies consider participating in the new Novatek’s Arctic LNG 2 project, announced Minister of Energy of Russia Alexander Novak, cited by Interfax news agency. He explained, that Chinese involvement in Arctic LNG 2 could be similar to the one in Yamal LNG project, which is owned by Novatek (50.1%, controlling stake), … Continue reading Chinese companies may participate in Novatek’s Arctic LNG 2 project →

Gazprom, a state-run gas major, and Almaz-Antey, a Russian defence systems manufacturer, have signed a so-called “road map”, an action plan for cooperation in the field of high-tech oil and gas equipment development and manufacturing. The document was signed on 25 May in St. Petersburg by Chairman of Gazprom Management Committee Alexey Miller and Almaz-Antey … Continue reading Gazprom and Almaz-Antey will cooperate on oil and gas equipment import substitution →

Gazprom, a Russian state-run energy company, plans to acquire imported subsea equipment needed for the development of its Yuzhno-Kirinskoye gas field on the Sakhalin Island continental shelf. According to Vsevolod Cherepanov, Gazprom’s board member, in 2019 the company plans to install imported flowing wellhead equipment (so-called ‘christmas tree’) onto four offshore wells. The drilling will … Continue reading Gazprom plans to acquire imported subsea equipment despite the U.S. sectoral sanctions →

On 18 May 2018 Russian president Vladimir Putin signed a decree approving new structure and composition of the Government of the Russian Federation. The new government structure was proposed to the president by Dmitry Medvedev who was re-appointed as a Prime Minister on 8 May. There were several changes to the Russian Government composition that … Continue reading Vladimir Putin appoints new members of the government responsible for oil and gas regulation →

The Government Commission on Foreign Investments Monitoring has agreed to grant Schlumberger permission to acquire a blocking stake in the largest Russian oilfield service company Eurasia Drilling Company (EDC), said Igor Artemyev, head of the Federal Antimonopoly Service (FAS) of the Russian Federation. Schlumberger is allowed to buy up to 49% of EDC, while the … Continue reading Russian Government would allow acquisition of up to 49% of EDC by Schlumberger →