Здравствуйте. Вся информация этого сайта бесплатна без рекламы. Вы можете сделать пожертвование и поддержать развитие этого сайта. Спасибо.

Hello. This site is free without ads. You can make a donation and support the development of this site. Thank you.

2014-05-29 18:20:00

EXXON & RUSSIA: DOING BUSINESS AS USUAL

EXXON & RUSSIA: DOING BUSINESS AS USUAL

Exxon Mobil Corp. (XOM), which this month extended its partnership with Russia's OAO Rosneft (ROSN), hasn't had to change its business in the country amid Ukraine-related sanctions and said such steps are typically ineffective.

"We don't find them to be effective unless they are very well implemented," Chief Executive Officer Rex Tillerson said today during a shareholders meeting in Dallas. Authorities imposing the sanctions should consider "who are they really harming?"

Exxon is among American oil producers that ignored U.S. State Department recommendations to skip an energy forum in St. Petersburg last week as it extended a pact with Rosneft involving drilling for crude in the Arctic and Siberia. Exxon, through a 2011 deal with the state-run crude producer, owns drilling rights across 11.4 million acres of Russian land, including vast swaths of the Kara Sea. 

U.S. and European nations have imposed sanctions to punish Vladimir Putin's regime for its actions in Ukraine. Among those targeted was Rosneft Chief Executive Officer Igor Sechin. Measures from President Barack Obama's administration included asset freezes and bans on travel to the U.S.

Travel Ban

The travel ban on Sechin has so far not affected collaboration with Exxon, which is currently working with Rosneft to drill an exploratory well in the Arctic this year, Tillerson said. The companies' partnership gives Rosneft the ability to buy stakes in Exxon's North American projects in exchange for Exxon's access to the Russian Arctic.

"We have plenty of meetings with them in Russia," Tillerson said. "It's not impacted our ability to carry on the other business activities."

The Irving, Texas-based producer is the biggest U.S. player in Russia, where it has a series of joint ventures with Rosneft.

bloomberg.com

Tags: EXXON, ROSNEFT, RUSSIA

Chronicle:

EXXON & RUSSIA: DOING BUSINESS AS USUAL
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.

EXXON & RUSSIA: DOING BUSINESS AS USUAL
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.

EXXON & RUSSIA: DOING BUSINESS AS USUAL
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.

EXXON & RUSSIA: DOING BUSINESS AS USUAL
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.

All Publications »
Exchange Rates
Date: 00:00 00:00
USD 0.00 0.00
EUR 0.00 0.00
GBP 0.00 0.00
UAH 0.00 0.00
ADR bid ask
GAZPROM 0.000.00
LUKOIL 0.00 0.00
ROSNEFT 0.00 0.00
SURGUTNEFTEGAZ 0.000.00
TATNEFT0.00 0.00