The most powerful man in Russia’s oil industry says U.S. sanctions won’t prevent the development of discoveries in the Arctic Ocean.
The head of OAO Rosneft (ROSN) said maintaining dividends is a “sacred obligation” for Russia’s largest oil company as sanctions limit its financial flexibility.
West Texas Intermediate crude fell from the highest price in seven days as concern eased over the risk of a supply disruption in the Middle East. Brent declined in London.
Russia Says Arctic Well Drilled With Exxon Strikes Oil
After Exxon Mobil Corp. mounted a campaign to warn U.S. officials that prematurely halting work with Russian oil giant Rosneft on an exploratory oil well could foul the Arctic, the Obama administration last week gave the company a two-week reprieve from sanctions on Russia.
Russia says sanctions won't hurt rise in China oil exports
Moscow auctioned off its first successful debt sale in more than two months on Sept. 24 after cancelling a string of bond auctions because of the sour investment climate that continues to surround Russia.
Asian companies will replace Western majors if they quit energy projects in Russia due to sanctions over Moscow's role in Ukraine,
France’s Total on Monday said its joint venture with Russia’s Lukoil , to explore shale oil in western Siberia , had ground to a halt as a result of western sanctions.
Total Looks to China to Finance Russian Gas Project Amid Sanctions Total SA said it was seeking nondollar financing for a gas project in Russia, becoming the second energy company in several days to indicate that Western sanctions on the Kremlin are affecting expansion plans.