Posts in Russian oil
- BP’s long-term strategic direction and its credibility with City analysts is in tatters this morning after its bid for a strategic alliance with Rosneft, the Russian state oil champion, collapsed late last night. A year on from the Deepwater disaster, this was the deal that was meant to revitalise BP’s reputation. This was the deal...
Continue reading 'BP’s Credibility in Tatters Again'.
- BP’s AGM tomorrow is set to be a tumultuous affair with the oil giant having to absorb criticism over the legacy of the it’s catastrophic oil spill in the Gulf of Mexico, its investment in the dirty Canadian tar sands and its dodgy deal with the Russian Rosneft to drill in the Arctic. Throw in...
Continue reading 'One Year Later: BP’s Contamination Continues'.
- As BP reported a $5bn loss after Gulf oil spill, confusion reigns this morning whether the company will be able to pay its dividend in full. The company has publicly announced that it will pay a dividend for the first time since the Deepwater disaster. But Bob Dudley’s hopes of winning round the investment community...
Continue reading 'BP, the Russian Godfather & Rogue States'.
- Ever since BP’s complex deal with Russian giant Rosneft was announced late last Friday, the list of critics to the deal has been growing. Take today’s leader in the Financial Times that calls the deal “risky, ethically vexing” and a “difficult transaction to spin.” I am surprised that a tabloid newspaper hasn’t spun the deal...
Continue reading 'Bolshoi Petroleum is “environmental villain number one”'.
- It’s that time of year again. It’s January, snow is on the ground (and no that doesn’t mean that climate change is not happening), it’s freezing outside and … Russia is having an energy dispute with its neighbours. Somethings never change. This time it is Belarus and the spat is about oil rather than gas,...
Continue reading 'Its January, must be time for a Russian energy dispute'.
- Whilst the world obsesses about how the oil industry could help bring down the oil price, a growing spat is taking place that could have huge ramifications for the oil industry. It concerns the Russians and BP, with some saying the Kremlin is trying to push BP out of the country. Over the past few...
Continue reading 'Spat Between Russia and BP Escalates'.
- Russian oil production has dropped this year for the first time in a decade, adding to the already jittery oil market, with some industry insiders saying it has already “peaked”. Russia, the world’s biggest oil exporter after Saudi Arabia, averaged 10 million barrels per day from January through March, the International Energy Agency said in...
Continue reading 'Russian Oil Production has “Peaked”'.
- Britain agreed to bankroll controversial drilling for oil and gas off Russia’s Sakhalin island, despite a warning from its own officials of the “potentially devastating effects” on a critically endangered species of whale. The decision to flout their own experts’ advice is revealed in deeply embarrassing documents the British Government fought for three years to...
Continue reading 'Sakhalin: “Britain ignored risk of whale extinction in rush for oil”'.
- The Russian government will double state spending on oil exploration to 2020 to $23 billion with the focus on oil in eastern Siberia to ensure a “good” replenishment of reserves, the country’s Natural Resources Minister Yury Trutnev said yesterday. Trutnev told reporters that the Cabinet had approved his proposal to increase state spending on mineral...
Continue reading 'Russia Plans to Double Spending on Exploration'.
- Russian state oil company Rosneft will increase output by a half by 2020 due to new assets and fields, according to its head as it aims to become the world’s top listed oil producer. Sergei Bogdanchikov said Rosneft will produce 130 million tonnes of crude (2.6 million barrels per day) by 2010 and 170 million...
Continue reading 'Rosneft Set to Increase Oil Output by Half'.
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