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!

2014-09-02 18:25:00

RUSSIA & CHINA: TO HAVE SHARE

РОССИЯ: КИТАЙСКАЯ ДОЛЯ

Russia President Vladimir Putin said Monday the Kremlin may let China have a share in one of the largest Siberian energy projects, the Vankor oil and gas field.

"Vankor is one of the biggest production operations today and very promising. Overall, we take a cautious approach to letting in our foreign partners, but we of course set no restrictions for our Chinese friends," Mr. Putin told China Vice Premier Minister Zhang Gaoli.

According to the transcript of the meeting, published on the Kremlin website, the idea of inviting the Chinese came from the chief executive of Russia's largest state-controlled oil company Rosneft.

"The state authorities support this idea and we would welcome your participation," said Mr. Putin.

For more than a decade now the Kremlin has been increasing the state's hold of Russia's vast oil and gas resources, driving both local and Western energy companies out of developing the large hydrocarbons fields.

However the Russian oil and gas industry needs money and expertise, and state-controlled company Rosneft, which owned the Vankor field, is keen on accepting foreign companies, including Exxon Mobil, BP and Indian state-run ONGC, as junior partners in new projects.

As the West is pondering a new set of economic sanctions against Moscow for stirring up the armed conflict in Ukraine, the Kremlin is eager to show that it has more options eastward. Russia's gas monopoly Gazprom in May signed a $400 billion deal with China National Petroleum Corp. which envisages a supply of an average of 38 billion cubic meters of gas annually for a period of 30 years to China.

The construction of the pipeline was opened Monday in the presence of Mr. Putin and Mr. Zhang.

The mammoth Vankor field was discovered in eastern Siberia in 1988, just before the collapse of the Soviet Union. The field has oil reserves of 3.8 billion barrels of oil and 95 billion cubic meters of gas.

After almost two decades of different Russian and international companies' attempts to get hold of the giant field, or at least part of it, Russia's state-controlled Rosneft started production in 2009.

wsj.com

Tags: RUSSIA, CHINA, OIL, GAS, ROSNEFT, EXXON, BP, GAZPROM, ONGC,
Chronicle:
РОССИЯ: КИТАЙСКАЯ ДОЛЯ
2021, July, 9, 12:04:00
HYDROGEN RUSSIA AND CIS, Moscow, 20-21 October 2021
International Conference and Exhibition ‘Hydrogen Russia and CIS’ brings together more than 200 senior executives of hydrogen production plants from Russia and the CIS
РОССИЯ: КИТАЙСКАЯ ДОЛЯ
2021, July, 9, 12:00:00
ARGENTINA'S NUCLEAR SMR
Before work was suspended, it was in line to be the world’s first operating SMR. The government licensed it as a prototype in 2009.
РОССИЯ: КИТАЙСКАЯ ДОЛЯ
2021, July, 9, 11:55:00
CHILE'S COAL GENERATION DOWN
In June 2021, the Chamber of Deputies of Chile has approved a bill that prohibits the installation and operation of coal-fired power plants.
РОССИЯ: КИТАЙСКАЯ ДОЛЯ
2021, July, 8, 12:50:00
OIL PRICE: NEAR $73
Brent slipped by 23 cents, or 0.3%, to $73.20 a barrel, WTI were down 33 cents, or 0.5%, at $71.87 a barrel.
РОССИЯ: КИТАЙСКАЯ ДОЛЯ
2021, July, 8, 12:45:00
OIL PRICES 2021-22: $72-$67
We expect rising production will reduce the persistent global oil inventory draws that have occurred for much of the past year and keep prices similar to current levels, averaging $72/b during the second half of 2021 (2H21).
РОССИЯ: КИТАЙСКАЯ ДОЛЯ
2021, July, 8, 12:40:00
EUROPE CLIMATE RULES
According to draft proposals seen by market sources, the CBAM will replace the current system of free carbon allowances for metals sectors, and tighten allowances in the European Emissions Trading System generally, a bone of contention for some.
РОССИЯ: КИТАЙСКАЯ ДОЛЯ
2021, July, 8, 12:35:00
ASIA INDEXES DOWN ANEW
The Hang Seng index (.HSI) led losses with a 1.9% drop, its eighth consecutive session in the red, with more falls in internet giants Tencent (0700.HK), Meituan (3690.HK) and Alibaba (9988.HK) as the sector reels from sweeping Chinese regulatory scrutinty.
All Publications »