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    Russian Oil and Gas Industry: News

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    Austin

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    Russian Oil and Gas Industry: News

    Post  Austin on Sat Apr 06, 2013 4:19 pm

    Russia May Hold 680 Trillion Cubic Meters of Unconventional Gas

    Russia holder of the world’s biggest natural-gas reserves, may have 2 1/2 times more unconventional resources than conventional supplies, according to OAO Gazprom. (OGZD)

    The country may hold as much as 680 trillion cubic meters of unconventional resources, which include gas from shale, sandstones and coal beds, Viktor Skorobogatov, director of the gas resources center at Gazprom’s VNIIGAZ research unit, said in an interview in the company’s corporate magazine.

    Gazprom, Russia’s gas exporter, has concentrated on conventional gas as traditional fields continue to pump out fuel from western Siberia to the country's Far East. That focus saw the nation overtaken by the U.S. as No. 1 gas producer in 2009 as advances in technology made shale drilling economically feasible in North America.

    Still, Russia had 44.6 trillion cubic meters of gas reserves at the end of last year, compared with 8.5 trillion cubic meters in the U.S., according to BP Plc (BP/) data.

    “No country in the world can compete with Russia in terms of the volume of natural-gas reserves and its vast resource potential in both traditional and unconventional,” Skorobogatov said in the interview, excerpts of which were distributed today by e-mail. Russia’s conventional gas resources total at least 250 trillion cubic meters, out of a global total of 600 trillion to 650 trillion cubic meters, he said.

    President Vladimir Putin in April urged Russian energy producers to “rise to the challenge” of a changing market as the U.S. increased output of shale gas. In October, he ordered Gazprom to report on its export policies after acknowledging that U.S. shale-gas production had become profitable.

    Extraction of shale gas, which Russia is now “actively studying,” involves blasting a mixture of sand, water and chemicals underground, fracturing the rock to release fuel.

    Russia’s shale-gas resources are estimated at about 5 trillion to 20 trillion cubic meters, Skorobogatov said. Hydrates account for about 75 percent of all the nation’s unconventional resources, or 500 trillion cubic meters, followed by tight gas at 110 trillion cubic meters and coal-bed methane at 50 trillion cubic meters, he said.

    As much as 90 percent of Russia’s unconventional resources are located in the east, mainly in the Urals and Siberia, according to Skorobogatov. Coal-bed methane and tight-gas ventures, already under development as pilot projects, may start producing after 2020, while development of hydrates and shale won’t start before 2025 or 2030, he said.

    Austin

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    Re: Russian Oil and Gas Industry: News

    Post  Austin on Sun Apr 14, 2013 7:28 pm

    Interesting Speech Rosneft Chief Igor Sechin made in Houston very recently

    http://www.rosneft.com/attach/0/02/99/cera_speech_en.pdf
    http://www.rosneft.com/attach/0/02/99/cera_week_en.pdf

    we are able to replace and increase reserves successfully through exploration. In 2009-2011, the reserves replacement ratio exceeded 200% per year; in 2012 we replaced 130% of reserves, a nd we did it with lower costs compared to those of our competitors. The data on reserves growth do not include our offshore projects a

    Vankor the biggest new project in post-soviet Russia

    We discovered 3.9 billion barrels of oil equivalent 3P reserves at Vankor, and today the stable level of oil production is more than 400 thousand barrels per day.Integration of TNK-BP assets allows us to increase the resource base of the region by 2.7 billion barrels of oil equivalent.

    Rosneft holds the largest license portfolio on the Russian offshore

    Rosneft is the largest subsoil license holder at the Russian offshore. Total estimated recoverable resources under these licenses exceed 275 billion barrels of oil equivalent. { this is bigger than current Saudi Reserves }


    Rosneft has already started full-scale operations in the Arctic

    estimated resource base of this block alone is more than 35 billion barrels of oil equivalent and the total resources for the Kara sea are above 100 billion n barrels of oil equivalent

    Slide 12. New production growth from development of tight oil in Russia ( Shale Oil )

    Next is oil production from the non-conventional oil fields. We have a tremendous and still underestimated potential of hard -to-recover resources. I would like to mention only one kind of formation Bazhenov.

    Estimated recoverable resources of this geological formation alone amount to over 22 billion barrels of oil, whic
    h is equal to approximately half of the shale oil resources in the USA.


    Compared to Saudi Oil Reserves

    http://www.albawaba.com/business/saudi-arabia-proven-oil-reserves-443455

    Aramco’s proven crude and condensate reserves fell by 400 million barrels versus the previous year to 259.7 billion barrels,


    I wont be surprised if Russias Oil Reserves including Arctic , Siberia and Shale Oil will be far greater than Saudi

    Austin

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    Re: Russian Oil and Gas Industry: News

    Post  Austin on Sun Apr 14, 2013 7:37 pm

    Check specially page 9 , Rosneft holds the largest lic portfolio on the Russian Offshore
    http://www.rosneft.com/attach/0/02/99/cera_week_en.pdf

    Recoverable resources – 275 bln boe Shocked

    Then on Page 12

    Shale Oil Bazhenov formation resources alone are about 40% of U.S. shale oil by amount



    Good that Russia has Nuclear Weapons else US/NATO would have had invaded her by now like they did with Iraq Laughing

    Austin

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    Re: Russian Oil and Gas Industry: News

    Post  Austin on Tue Jun 11, 2013 8:18 am

    Talk about Shale Oil and Gas with recoverable reserves and the latest report from US EIA gives a good picture , Surprise part is who has most Shale Oil and Gas which can be recovered Laughing

    Technically Recoverable Shale Oil and Shale Gas Resources: An Assessment of 137 Shale Formations in 41 Countries Outside the United States

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    Re: Russian Oil and Gas Industry: News

    Post  Austin on Sun Jun 16, 2013 4:31 am

    It seems like Gazprom is in bad shape with constant loosing market value.

    Gazprom’s Demise Could Topple Putin
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    AlfaT8

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    Re: Russian Oil and Gas Industry: News

    Post  AlfaT8 on Sun Jun 16, 2013 4:36 pm

    Austin wrote:It seems like Gazprom is in bad shape with constant loosing market value.

    Gazprom’s Demise Could Topple Putin
    The Title of this article alone makes me skeptical.Suspect

    Austin

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    Re: Russian Oil and Gas Industry: News

    Post  Austin on Sun Jun 16, 2013 6:18 pm

    The title might be misleading and mischievous but the contents are sound and indeed very damaging for Gazprom.

    Look at Gazprom Market Cap and Share value , in 2008 it was $338 and today it is $83 and going down

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    medo

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    Re: Russian Oil and Gas Industry: News

    Post  medo on Sun Jun 16, 2013 8:53 pm

    I think they just follow prices for gas. Nothing unusual.
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    AlfaT8

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    Re: Russian Oil and Gas Industry: News

    Post  AlfaT8 on Sun Jun 16, 2013 11:41 pm

    Austin wrote:The title might be misleading and mischievous but the contents are sound and indeed very damaging for Gazprom.

    Look at Gazprom Market Cap and Share value , in 2008 it was $338 and today it is $83 and going down

    Where's 2012??Suspect
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    Viktor

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    Re: Russian Oil and Gas Industry: News

    Post  Viktor on Mon Jun 17, 2013 1:22 am

    If Russian state keeps the shares its value does not matter. As long as Gazprom brings money who cares about its shares.
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    GarryB

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    Re: Russian Oil and Gas Industry: News

    Post  GarryB on Mon Jun 17, 2013 11:25 am

    Share market is for gamblers... who cares if they lose money, the fact is that even if the shares were worth nothing it makes no difference to the value of the company or what it produces.

    Austin

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    Re: Russian Oil and Gas Industry: News

    Post  Austin on Mon Jun 17, 2013 1:46 pm

    I am sure every company that is publicly listed and trades in shares would care very very much if their share prices fall down.

    Infact Miller the CEO of Gazprom has said he is very concerned about the company share prices and planning to do something about it.

    If companies didnt care about it share prices they wouldnt have listed in the first place a low share price would indicate loss of customer confidence who in turn will sell all the shares bring the prices much lower affecting company ability to raise finance from market.
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    GarryB

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    Re: Russian Oil and Gas Industry: News

    Post  GarryB on Tue Jun 18, 2013 10:27 am

    If companies didnt care about it share prices they wouldnt have listed in the first place a low share price would indicate loss of customer confidence who in turn will sell all the shares bring the prices much lower affecting company ability to raise finance from market.

    Very few actual customers will be share owners, and I doubt share price entered the Pentagons mind when it bought some more Russian helicopters recently for the Afghans.

    Austin

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    Re: Russian Oil and Gas Industry: News

    Post  Austin on Wed Jun 19, 2013 2:00 pm

    Whats got Pentagon deal got to do with Gazprom declining fortunes.

    Companies all over the world do depend on stock market to know the health of company and to raise capital and increase its market value. Gazprom is no different , dropping share price means the company health is not well.

    Austin

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    Re: Russian Oil and Gas Industry: News

    Post  Austin on Wed Jun 19, 2013 2:05 pm

    Oil and gas: Gazprom looks east to restore fortunes as US shale gas booms

    Gazprom and CNPC poised to strike long-term deal on Russia gas exports to China by year end – Gazprom
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    sepheronx

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    Re: Russian Oil and Gas Industry: News

    Post  sepheronx on Wed Jun 19, 2013 9:15 pm

    Austin wrote:Whats got Pentagon deal got to do with Gazprom declining fortunes.

    Companies all over the world do depend on stock market to know the health of company and to raise capital and increase its market value. Gazprom is no different , dropping share price means the company health is not well.

    Shares is one thing, the other thing is the companies status of either a private owned or state run.  Seeing as this company is state run, there will always be bailouts or whatnot, all depends on the assets the company has.  Gazprom's profits have still been in the Billions and that is better than a lot of companies.  Gazprom is poorly managed and companies like Rosneft are actually growing which could outpace rosneft in finances but not in assets.  If something happened to Gazprom, you would guarentee to see its assets being distributed to the other state run companies or sold off to the private JV's.

    Gazprom isn't really a good indicator to the countries economy.  As much as the GDP growth has slowed down to a now expected 2.6% annual growth, it is to due not just with oil and gas, but the general outlook of the other countries and less people to sell to.  And this is the problem with the world economy and the whole WTO.  If Russia relied more on the sale of goods to their own citizens, they may not be as wealthy per the banks measurements, but they would be wealthier in quality of life and as well, be safe from any of this mess.

    Oil and gas only contributed something like 10% - 20% back in 2008 to its economy, and as much as that is a lot, it is not nearly as much as a contributor as to things like the other resources (water, coal, lumber, etc) and other assets like Energy and manufacturing.  It is just one sector out of many but so happens to be a quick profiter with little extra expenses (as most expenses end up being subsidized by the federal government).

    Austin, just like on the other forums, you are stuck on the assumption that Oil and Gas is the entire aspect of the Russian economy, which it isn't.  As well, you think that Gazprom is the center of it all, which (regardless of what media assumes), it isn't.  Gazprom is powerful simply because it has the most amount of assets, probably one of the largest in the world.  Those assets alone are worth more than the revenue of the company itself.  Bad management will always exist, but they need to deal with these managers so that Gazprom can continue to progress.

    I think they also lied on the value of their stocks, seeing as how their stocks dropped significantly.  It was dubious at best regarding the value of their stocks in their prime.
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    Viktor

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    Re: Russian Oil and Gas Industry: News

    Post  Viktor on Thu Jun 20, 2013 6:16 pm

    Increasing oil supplies to China 

    Rosneft’s Oil Supplies to China to Top $60Bln – Putin
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    Viktor

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    Re: Russian Oil and Gas Industry: News

    Post  Viktor on Fri Jun 21, 2013 11:13 am

    It was about time Russia starts supplying China with oil and gas and China gets another energy supply route the one not controlled by US.


    Russia Clinches $270 Bln Oil Export Deal With China
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    Cyberspec

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    Re: Russian Oil and Gas Industry: News

    Post  Cyberspec on Fri Jun 21, 2013 12:49 pm


    Viktor wrote:Russia Clinches $270 Bln Oil Export Deal With China


    That's BIG news
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    Viktor

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    Re: Russian Oil and Gas Industry: News

    Post  Viktor on Tue Jul 02, 2013 5:40 pm

    It will be interesting to see if some new arms deals has been signed

    Venezuela, Russia Have Huge Investment Potential – Putin

    Rosneft and Venezuela’s PDVSA Sign Shelf Exploration Deal

    Austin

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    Re: Russian Oil and Gas Industry: News

    Post  Austin on Tue Jul 02, 2013 6:26 pm

    Venezeula has the largest Oil Reserves in the Worls specially tar oil and its conventional reserves are also very high.

    So its in Russias interest to pursue these opportunities and make most of it as long as Maduro is in power , the other guy who got narrowly defeated does not appear to be friendly to Russia.

    Austin

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    Re: Russian Oil and Gas Industry: News

    Post  Austin on Tue Jul 02, 2013 6:27 pm

    Viktor would have have any information from Russian source that would put an accurate picture on Russian Oil reserves as well as Russian Oil reserves in the Arctic.

    I have been trying to get more information on this but information is vary

    Austin

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    Re: Russian Oil and Gas Industry: News

    Post  Austin on Tue Jul 02, 2013 6:30 pm

    Gas-exporting countries agree to support oil price link

    http://www.aawsat.net/2013/07/article55308120

    I think except for Qatar all were in favour and we know why Qatar wasnt
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    Viktor

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    Re: Russian Oil and Gas Industry: News

    Post  Viktor on Tue Jul 02, 2013 8:48 pm

    Austin wrote:Venezeula has the largest Oil Reserves in the Worls specially tar oil and its conventional reserves are also very high.

    So its in Russias interest to pursue these opportunities and make most of it as long as Maduro is in power , the other guy who got narrowly defeated does not appear to be friendly to Russia.

    Yup, the "other guy" Capriles openly said he would instantly derail all relations with Russia and China and kick out all Cuban doctors out of the country (6000 of them

    are working in Venezuela in exchange for oil).

    Sorry, I have no info about Artic reserves.




    Austin

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    Re: Russian Oil and Gas Industry: News

    Post  Austin on Wed Jul 03, 2013 8:16 pm

    Found some good document on Arctic Resources

    The potential for hydrocarbon resource development on the Russian Arctic Ocean Shelf

    Sponsored content

    Re: Russian Oil and Gas Industry: News

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