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2014-10-12 20:00:00

ROSNEFT SEEKS LAWYERS: $28 MLN

ROSNEFT SEEKS LAWYERS: $28 MLN

Russia's top oil producer Rosneft has turned to UK-certified lawyers in its fight against Ukraine-related Western sanctions which have hit the company's output and prospects for its push to tap Arctic riches.

The Kremlin-controlled firm has issued a 17.7-million-pound ($28-million) tender seeking the services of UK-certified lawyers on a website which registers Russian state purchases and orders.

"Provider undertakes to render legal services with regard to challenging economic sanctions and to protect interests of the client in general in respect to any other legal matters," the document said.

The amount of the work is set at 37,000 hours, making the fee 478 pounds per hour.

BP owns a 19.75 percent stake in Rosneft, which due to the sanctions faces limits on its access to capital markets, curbing its ability to fund development work.

Last month, ExxonMobil said it had to wind down cooperation with Rosneft in the Arctic after successfully drilling a first exploration well and the discovery of a large oilfield.

reuters.com

Tags: ROSNEFT, OIL, SANCTIONS, BP, EXXON

Chronicle:

ROSNEFT SEEKS LAWYERS: $28 MLN
November, 20, 09:05:00

INDIA'S GAS WILL UP

REUTERS - India’s natural gas consumption is expected to rise to 70 billion cubic metres (bcm) by 2022 and 100 bcm by 2030, according to a government think tank and the Oxford Institute of Energy Studies, up from 50 bcm now. India burns just 7 percent of what top user the United States consumes in a year with about a quarter of India’s population.

ROSNEFT SEEKS LAWYERS: $28 MLN
November, 20, 09:00:00

NORWAY SELLS OIL & GAS

Norway, which relies on oil and gas for about a fifth of economic output, would be less vulnerable to declining crude prices without its fund investing in the industry, the central bank said Thursday. The divestment would mark the second major step in scrubbing the world’s biggest wealth fund of climate risk, after it sold most of its coal stocks.

ROSNEFT SEEKS LAWYERS: $28 MLN
November, 20, 08:55:00

OIL PRICES UP

WSJ - Light, sweet crude for December delivery rose $1.41, or 2.6%, to $56.55 a barrel on the New York Mercantile Exchange, snapping a three-session losing streak. Brent, the global benchmark, advanced $1.36, or 2.2%, to $62.72 a barrel.

ROSNEFT SEEKS LAWYERS: $28 MLN
November, 20, 08:50:00

U.S. RIGS UP 8 TO 915

U.S. Rig Count is up 327 rigs from last year's count of 588, with oil rigs up 267, gas rigs up 61, and miscellaneous rigs down 1 to 1. Canada Rig Count is up 24 rigs from last year's count of 184, with oil rigs up 9 and gas rigs up 15.

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