Russian Oil and Gas Industry: News

Saudis, Russians Set To Tag-Team Oil Markets To Fend Off American Shale

Fresh off a visit to Washington, the Crown Prince of Saudi Arabia is turning to Russia to help the OPEC leader remain a force in world oil markets that have been rattled by the development of U.S. shale. In an exclusive that quietly ran on the Reuters newswire Tuesday, Saudi Crown Prince Mohammed bin Salman (MBS) said he wants long-term cooperation with Russia to stabilize oil prices.

"We are working on moving from a model agreement for a year to a longer term — 10-20 years," MBS said in an interview with Reuters in New York. "Such an agreement exists, but the details have not yet been worked out." Last week, Saudi Energy Minister Khalid al-Falih said he expected to extend the pact for 2019. The story broke this week but was already in the works prior to MBS' trip to the U.S.

Austin wrote:Saudis, Russians Set To Tag-Team Oil Markets To Fend Off American Shale

Fresh off a visit to Washington, the Crown Prince of Saudi Arabia is turning to Russia to help the OPEC leader remain a force in world oil markets that have been rattled by the development of U.S. shale. In an exclusive that quietly ran on the Reuters newswire Tuesday,  Saudi Crown Prince Mohammed bin Salman (MBS) said he wants long-term cooperation with Russia to stabilize oil prices.

"We are working on moving from a model agreement for a year to a longer term — 10-20 years," MBS said in an interview with Reuters in New York. "Such an agreement exists, but the details have not yet been worked out." Last week, Saudi Energy Minister Khalid al-Falih said he expected to extend the pact for 2019. The story broke this week but was already in the works prior to MBS' trip to the U.S.

American shale is a flash in the pan. Five years from now, peak production from this "cornucopia" will be in the rearview mirror.

Hole wrote:The title of that propaganda piece supposes that the oil is european. Evil russians sell "our" oil to the chinese!

Where is all the rejoicing about the reduction in dependence on Russia? What a bunch of retarded crybabies. They bitch and moan
about dependence on Russia and then when the time comes to shop elsewhere they attack Russia for selling to other customers.

GarryB wrote:

The only real issue is Denmark who are being pressured to reject permission next to Gronholm island but if they don't agree, walking away from the transit fees, the pipe can apparently be re-routed at about a 5% increase in cost.

IF that is the case then they should re-route it anyway... over the next 20 odd years they will likely pay more than 5% of the costs in transit fees, and more importantly it gives Denmark the power to stop the gas flow and demand the pipes be removed from their territory depending on the government there or an EU ruling or what Washington tells them to do.

If Washington can tell France not to sell Mistrals then they could probably make Denmark do anything they want.

I suspect this bloody hypocrite posturing EU-tards will soon be singing a different tune as the diversion of Russian oil supplies to China brings
reality home. These f*ckers actually thought they could terrorize Russia to keep servicing them. Eat sh*t, losers.

Not only Russia sell more oil to China, but also Russia itself produce more and more oil and gas products in its own rafineries and plants and export more and more different products from oil and gas, so EU rafineries have less and less work. Russian oil and gas products are cheaper than those from EU and of the same quality.

Germany expresses support for Nord Stream-2 project — Lavrov

More:
http://tass.com/economy/1005175

Novatek, Total sign agreement on Arctic LNG 2 project

The document was signed after talks between Russian President Vladimir Putin and France’s President Emmanuel Macron

STRELNA, May 24. /TASS/. Novatek and Total signed an agreement in respect of participation of the French company in Arctic LNG 2 project. The document was signed after talks between Russian President Vladimir Putin and France’s President Emmanuel Macron in their presence.

Arctic LNG 2 is the second liquefied natural gas plant of Novatek to be launched in 2023. Its capacity will be over 18 mln tonnes of LNG per year.

Novatek will sell the share of 10% in the Arctic LNG 2 project to France’s Total, Chief Executive Officer of Novatek Leonid Mikhelson told reporters on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

"Total will participate with the share of 10%," Mikhelson said.

Novatek plans to keep the 60% stake in the project, the top manager said.

"We plan to hold the share of 60%. If we decide to reduce the share, but not less than 50% in the project, then Total will have the right to increase its stake to 15%," Mikhelson added.

The cost of the Arctic LNG 2 project is about $25.5 bln, the top manager noted. This figure is indicated in the agreement for sale of 10% in the project to Total.

The Russian company plans to close the deal as early as in the first quarter of 2019, Novatek said.


More:
http://tass.com/economy/1006194

Lukoil to agree on revised economic terms for West Qurna 2 project with Iraq

The West Qurna 2 field in Southern Iraq is one of the largest across the globe

ST. PETERSBURG, May 24. /TASS/. Russia’s oil major Lukoil hopes to agree on revised economic terms for its West Qurna-2 project in Iraq by the end of 2018, CEO Vagit Alekperov said on the sidelines of the St. Petersburg International Economic Forum on Thursday, adding that in May the company would receive compensation for half of past costs.

"In any case, the Iranian side has acknowledged that the economic parameters should get better. Currently the group is working, it has been given time by the end of the year to return to discussion over economic parameters of the deal. We have come to the understanding that past costs should be covered, and half of the sum will be covered in May," he explained.

The West Qurna 2 field in Southern Iraq is one of the largest across the globe, with recoverable resources of about 14 bln barrels. Lukoil is tapping it in a consortium with Norway’s Statoil.


More:
http://tass.com/economy/1006129

PapaDragon wrote:
Russia Just Won Big In The European Gas War

https://oilprice.com/Energy/Natural-Gas/Russia-Just-Won-Big-In-The-European-Gas-War.html

Gazprom threw the EU a few crumbs to save face. Now it will be harder for Trumpy to push his imperial agenda.

JohninMK wrote:The good news just keeps rolling in. They just need a pipeline into the EU down there now.

ST. PETERSBURG, May 26. /TASS/. Russia’s state-run gas giant Gazprom and Turkey signed a protocol on Saturday on a land-based part of the transit leg of the TurkStream gas pipeline, due to supply Russian gas to European customers, Gazprom said.

In addition to the protocol, Gazprom and Botas inked an agreement on conditions and parameters for the section construction, which would enable the sides to take practical steps in the project. The TurkAkim Gaz Tasima A. S. joint venture will be set up to build the land-based part of the pipeline.

More: http://tass.com/economy/1006710

Russia needs to have a link to Greece from Turkey. Then in 2020 when it cuts off PukeKraine from its blackmail attempts, any shortfall in supply
will be 100% the fault of EU-tards for not linking the Greek pipeline connection to the EU network. The posturing prats in Bruxelles will be lustrated.

Nord Stream 2 AG Receives Notification on Seizure of Assets Upon Kiev's Request

The Nord Stream 2, the operator of an existing gas pipeline of the same name, reported that it had received a seizure warrant for AG's assets. However, the company specified that it wouldn't have any impact on the pipeline project itself.

DETAILS TO FOLLOW

The NATOist Pigs will not stop until they completely scuttle this project and all other projects that are of economic value for Russia

https://russia-insider.com/en/bulgaria-claims-russia-will-build-pipeline-branch-its-coast-not-so-fast-says-moscow/ri23650

Borrisov is such a clown. He thinks he can corner Russia by claiming that it accepted his demands.

Go shine Uncle Scumbag's shoes you loser. You had your chance and you blew it.

Bulgarians have always been backstabbers.

kvs wrote:https://russia-insider.com/en/bulgaria-claims-russia-will-build-pipeline-branch-its-coast-not-so-fast-says-moscow/ri23650

Borrisov is such a clown.   He thinks he can corner Russia by claiming that it accepted his demands.

Go shine Uncle Scumbag's shoes you loser.    You had your chance and you blew it.

Bulgarians have always been backstabbers.

The only reason Borisov is in power is because of bribing gypsies to vote for him and because of corrupt EU funded bourgeois russophobes(around 20% of the population). Everyone here considers him to be a retarded mafia meathead.

Court seizes Dutch assets of Gazprom worth $2.6 bln upholding Naftogaz petition

MOSCOW, June 5. /TASS/. The Stockholm Arbitration Court has upheld the petition of Naftogaz of Ukraine demanding to seize the shares of Gazprom in its Dutch subsidiaries and the debt of these subsidiaries, Naftogaz said in a press release.

Naftogaz notes that the petitions were filed to secure its right to receive from Gazprom $2.6 billion under the decision of the Stockholm Arbitration, adopted in February 2018.


More:
http://tass.com/economy/1007971