SHELL COMMITTED TO RUSSIA
Royal Dutch Shell is committed to expansion in Russia, Chief Executive Ben van Beurden told Russian President Vladimir Putin at a meeting on Friday amid sanctions imposed on the country after its annexation of Ukraine's Crimea region.
Shell plans to expand Russia's only liquefied natural gas (LNG) plant with Russian partner Gazprom, he said at a meeting at Putin's residence.
"We, of course, will pledge all the necessary administrative guidance and support," Putin said in response in a meeting that was later broadcast on national television.
The United States and European Union have imposed targeted sanctions against a list of Russian and Ukrainian individuals and firms in retaliation for Moscow's annexation of Crimea last month.
EU and U.S. diplomats have indicated that they may consider wider sanctions against whole sectors of the Russian economy if Russian forces were to enter Ukraine.
"We are very keen to grow our position in the Russian Federation," van Beurden said. "We look forward with anticipation and confidence on a very long-term future here in Russia."
BP boss Bob Dudley said this week the sanctions had not impacted the company's business in Russia.
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PLATTS - National Australia Bank announced Thursday it will no longer provide financing for new thermal coal projects.
Petrobras and ExxonMobil signed a memorandum of understanding regarding a strategic alliance to jointly identify and evaluate potential business opportunities.
ExxonMobil Development Africa B.V. has acquired a 25 percent indirect interest in Mozambique’s gas-rich Area 4 block from Eni and assume responsibility for midstream operations.
U.S. Rig Count is down 1 rig from last week to 930, with oil rigs down 4 to 747, gas rigs up 3 to 183, and miscellaneous rigs unchanged. Canada Rig Count is up 19 rigs from last week to 238, with oil rigs up 22 to 134 and gas rigs down 3 to 104.