RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2014-03-31 08:30:00

ROSNEFT & EXXON: KURDISTAN OIL

ROSNEFT & EXXON: KURDISTAN OIL

BLOOMBERG. Exxon Mobil Corp. (XOM) is negotiating to bring OAO Rosneft (ROSN) into oil and gas licenses in Iraq's Kurdistan region, people familiar with the talks said.

The talks show the largest U.S. and Russian oil companies forging ahead with a global alliance even as relations between the two governments stand at their lowest ebb since the end of the Cold War. Rosneft is considering the proposal and a deal isn't guaranteed, according to the people, who asked not to be identified because the discussions are confidential.

Exxon and Rosneft are working on ventures to explore the Arctic Ocean, test the potential of shale oil in Russia and pump crude in Texas. So far, sanctions imposed by the U.S. and European Union in response to President Vladimir Putin's decision to annex Crimea haven't had an impact on the work of international oil companies in Russia.

Kurdistan, an autonomous region in northern Iraq, is ramping up oil production and trying to resolve a dispute with the government in Baghdad over pipeline exports. Exxon reduced its stake in one of the biggest oilfields in southern Iraq after moving into Kurdistan, where the power to award exploration licenses has been the subject of dispute between the central and regional administrations.

Rosneft shares rose 0.5 percent to close at 232.6 rubles in Moscow after earlier gaining as much as 2.4 percent.

Exxon signed six production-sharing contracts covering more than 848,000 acres in Kurdistan in October 2011, according to the Irving, Texas-based company's 2013 annual report on its website. Exxon began a seismic survey on four of six blocks in 2013 and has begun drilling one well, according to the report.

Sakhalin Island

"Exxon is an important and large partner of Rosneft's in a wide range of projects," Alexander Kornilov, an oil an gas analyst at Alfa Bank said by e-mail today.

An Exxon-operated venture with Rosneft at Sakhalin Island plans to begin pumping oil from the Arkutun-Dagi project off Russia's Pacific coast this year, Senior Vice President Mark Albers said on Mar. 5. The companies additionally plan a well in the remote and prospective Russia's Kara Sea this August.

Rosneft's press service and an Exxon representative in Moscow declined to comment as did an official at the Kurdistan Regional Government.

Tags: ROSNEFT, EXXON, KURDISTAN, OIL, GAS
Chronicle:
ROSNEFT EXXON: KURDISTAN OIL
2022, August, 12, 08:44:00
6TH ANNUAL LNG SUMMIT USA
The 6th Edition of Wisdom’s Much Acclaimed Annual LNG Summit Will Be Held Live in Houston - PREPARING THE INDUSTRY FOR THE RISE IN DEMAND FOR LNG
ROSNEFT EXXON: KURDISTAN OIL
2022, August, 12, 08:43:00
2022 SAUDI PIPELINES INTERNATIONAL CONFERENCE & EXIBITIONS
Eventat Co (a Saudi local company) is hosting the first-ever “2022 Saudi Pipelines International Conference & Exhibitions” from 4-6 October, 2022 at the Dhahran Expo, Dammam (Eastern Province), Kingdom of Saudi Arabia. The three-day conference and exhibition are dedicated to bringing together over “50+ Regional/International speakers, 100+ Sponsors/Exhibitors, 1000+ Delegates and 3000+ Visitors” from around the globe who carry significant interest in enhancing the pipelines lifecycle for the current and future.
ROSNEFT EXXON: KURDISTAN OIL
2022, August, 12, 08:42:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023 Link to the Congress website: https://bit.ly/3tXVmr7
ROSNEFT EXXON: KURDISTAN OIL
2022, August, 12, 08:40:00
GERMANY'S HARD WINTER
With nearly half of German homes relying on gas for heating, the country faces potential rationing if it fails to secure sufficient reserves.
ROSNEFT EXXON: KURDISTAN OIL
2022, August, 12, 08:35:00
LIMITED RUSSIA SANCTIONS
Russian oil production in July was only 310,000 b/d below prewar levels, a fall of less than 3 per cent, while total oil exports were down about 580,000 b/d, according to the IEA’s latest monthly oil report.
ROSNEFT EXXON: KURDISTAN OIL
2022, August, 12, 08:30:00
BRITAIN'S HARD WINTER
Under the government’s latest “reasonable worst-case scenario,” Britain could face an electricity capacity shortfall totaling about a sixth of peak demand, even after emergency coal plants have been fired up, according to people familiar with the government’s planning.
ROSNEFT EXXON: KURDISTAN OIL
2022, August, 12, 08:25:00
GLOBAL LNG UNCERTAINTY
The money lost is dwarfed by enormous profits both BP and Shell recorded this year on the back of soaring refining margins and high oil and gas prices.
All Publications »