ROSNEFT NEEDS SUPPORT
India's Oil & Natural Gas Corp.(ONGC) is reportedly negotiating with Russia's Rosneft to purchase a share of the Vankor oil field in East Siberia, indicating that the increase in production wanted by the Russian company could come hand in hand with stronger ties with foreign companies.
Rosneft said on Thursday it increased technical drilling volumes at its production assets by 27% in the first 7 months of 2015.
'Key factors, that boosted technical drilling figures are: increased drilling volumes at RN-Yuganskneftegas assets (increase of drilling progress outpaced the Company's average and accounted to 39.9% - 1.719 mln m in 7 months of 2015 versus 1.229 mln m for the same period last year), and increased pace of drilling of high-technology wells' the company wrote on its website on Thursday.
On Friday, Chief Executive Igor Sechin confirmed the company's intention to Prime Minister Dmitry Medvedev.
At the same time, Rosneft has to wiggle out of the international grip. It comes as little surprise that it is negotiating with cash-rich companies.
According to Bloomberg, New Delhi-based ONGC Videsh Ltd is seeking to pay $900 million for a stake in the oil field in East Siberia. It expects to sign a deal as early as next month.
Last week, the United States added a Russian oil and gas field, the Yuzhno-Kirinskoye Field, to its list of energy sector sanctions.
Last month, Rosneft commented on the arm-wrestling with the United States.
'Formal inclusion of some Rosneft subsidiaries in the list of entities that fall under sectoral sanctions is indicative of the ongoing illegitimate practice when the effects of political decisions are being extended to market players not influencing the decision-making' it wrote on its website.
Rosneft is trying to reinforce its relationship with other international companies. Last month, Rosneft and Norway's Statoil completed drilling works as part of the Pilot Project at the PK1 layer of the North-Komsomolskoye field in Purovsky and Nadymsky regions of Yamalo-Nenets Autonomous District. According to the Russian company, the joint operations indicate a strong resolve to work together in the long-term.
|January, 19, 12:45:00|
|January, 19, 12:40:00|
|January, 19, 12:35:00|
|January, 19, 12:30:00|
|January, 19, 12:25:00|
|January, 19, 12:20:00|
PLATTS - For full-year 2017, South Korea's crude imports from its biggest supplier Saudi Arabia fell 1.7% to 319.02 million barrels, compared with 324.45 million barrels in the previous year, customs data showed. On the contrary, South Korea has imported 1.77 million mt, or around 13 million barrels, of crude from the US in 2017, about four times higher than in 2016. Shipments from Russia grew to 140,000 b/d last year from 112,000 b/d in 2016.
AOG - ADNOC’s 2030 strategy, he said, aims to capitalise on predicted global economic growth and demand for oil and petrochemical products, particularly in non-OECD countries. As its business responds to changing market dynamics, the company will continue to broaden its partnership base, strengthen its profitability, adapt to new realities and expand market access.
WNN - Under the terms of the assignment and purchase agreement it has signed with Nucleus and Brookfield, Toshiba will sell its rights to assert claims against Westinghouse related to the parent guarantees in the amount of $5.788 billion, and on account of other claims Toshiba holds against Westinghouse in the amount of $2.284 billion to Nucleus, for the sale price of $2.160 billion.
REUTERS - Brent crude futures LCOc1 were at $69.23 a barrel at 0808 GMT, up 8 cents from their last close, but down from a high of $69.37 earlier in the day. Brent on Monday rose to $70.37 a barrel, its highest since December 2014, the start of a three-year oil price slump. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $63.84 a barrel, down from a high of $63.89 earlier, but up 11 cents from their last settlement. WTI hit $64.89 on Tuesday, also the highest since December 2014.