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    Russian Oil and Gas Industry: News

    kvs
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    Post  kvs Sun Sep 14, 2014 10:41 pm

    Mike E wrote:
    Viktor wrote:
    They are estimated to contain as much as a trillion barrels of oil - four times the reserves of Saudi Arabia.

    If that is true, you can render me speechless!

    affraid

    The Bazhenov is overhyped in my view. There has not been enough pilot production from it to evaluate its performance. There is too much confusion in the mass media about oil reservoir types. For example, I see articles talking about the Bakken and the Green River formation in the same vein. They have nothing in common. The Bakken is a actual oil reservoir with the peculiar structure of a dolomite (porous) layer sandwiched between two non-porous shale-like layers (these are not shale but are often mislabeled as such). The Green River formation consists of vast kerogen deposits. Nobody has launched a single test or commercial operation to cook kerogen into oil after extracting it from shale. Both processes cost a lot of energy.

    So the Bazhenov may be a very expensive prospect and not resemble the Bakken at all.
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    Post  Mike E Sun Sep 14, 2014 11:36 pm

    kvs wrote:
    Mike E wrote:
    Viktor wrote:
    They are estimated to contain as much as a trillion barrels of oil - four times the reserves of Saudi Arabia.

    If that is true, you can render me speechless!

    affraid

    The Bazhenov is overhyped in my view.   There has not been enough pilot production from it to evaluate its performance.   There is too much confusion in the mass media about oil reservoir types.   For example, I see articles talking about the Bakken and the Green River formation in the same vein.  They have nothing in common.   The Bakken is a actual oil reservoir with the peculiar structure of a dolomite (porous) layer sandwiched between two non-porous shale-like layers (these are not shale but are often mislabeled as such).    The Green River formation consists of vast kerogen deposits.   Nobody has launched a single test or commercial operation to cook kerogen into oil after extracting it from shale.    Both processes cost a lot of energy.  

    So the Bazhenov may be a very expensive prospect and not resemble the Bakken at all.  
    I thought the same thing, at first... It is claimed to hold any where between  ~20 billion barrels, all the way to 2 trillion. Independent estimates all point to ~300 billion, which is huge nonetheless. It will have to be tested for me to decide.
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    Austin


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    Post  Austin Mon Sep 15, 2014 6:05 am

    Viktor wrote:Interesting  thumbsup


    Key among Russian tight oil reserves are the Bazhenov formations, which are located beneath existing mature west Siberian fields.

    They are estimated to contain as much as a trillion barrels of oil - four times the reserves of Saudi Arabia.

    Rosneft and Gazprom Neft are working on Bazhenov with Exxon and Shell.

    "When we learnt about the first sanctions we decided to speed up work on all fronts to minimize the damage to the company," said a Rosneft source.


    LINK

    It may have those 4 trilion barrels of Oil but what matters is how much is economically feseable to recover.

    Check US EIA estimates , Russia has the largest recoverable shale Oil Reserves of  75 Billion Barrels

    http://www.eia.gov/todayinenergy/detail.cfm?id=14431
    sepheronx
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    Post  sepheronx Mon Sep 15, 2014 3:21 pm

    http://en.itar-tass.com/economy/749594

    MOSCOW, September 15. /ITAR-TASS/. Russian gas giant Gazprom has agreed to supply seven shipments of liquefied natural gas (LNG) to Egypt, the country’s Industry and Trade Minister Mounir Fakhry Abdel Nour told PRIME on Monday, without disclosing the amount and terms of the supplies.
    “Egypt will receive the first shipment in early December,” the minister said, adding that Gazprom has signed a contract with Egyptian Natural Gas Holding Company (EGAS).
    Egypt has also offered Gazprom to take part in tenders to explore oil and gas fields in the country. “The company has received suggestions, but has not participated in tenders yet. We intend to cooperate with Gazprom in any format,” he added.
    magnumcromagnon
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    Post  magnumcromagnon Mon Sep 15, 2014 6:27 pm

    sepheronx wrote:http://en.itar-tass.com/economy/749594

    MOSCOW, September 15. /ITAR-TASS/. Russian gas giant Gazprom has agreed to supply seven shipments of liquefied natural gas (LNG) to Egypt, the country’s Industry and Trade Minister Mounir Fakhry Abdel Nour told PRIME on Monday, without disclosing the amount and terms of the supplies.
    “Egypt will receive the first shipment in early December,” the minister said, adding that Gazprom has signed a contract with Egyptian Natural Gas Holding Company (EGAS).
    Egypt has also offered Gazprom to take part in tenders to explore oil and gas fields in the country. “The company has received suggestions, but has not participated in tenders yet. We intend to cooperate with Gazprom in any format,” he added.

    Looks like officially Egypt is back in the Russian sphere, after 4 decades of treason by the hands of Sadat and Mubarak, Sisi on the other-hand wised up. Let's hope some huge arms deals are in the pipeline, it would be great if Russia could give Egypt full TOT and license production of Mig-35's, S-350E's (and or S-400's), Iskander-E's, Kornet-EM's, etc. as a show of mutual trust and respect.
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    Austin


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    Post  Austin Wed Sep 17, 2014 6:51 pm

    Russia capable of meeting growing demand for gas in Europe and China — Gazprom CEO


    http://en.itar-tass.com/economy/749961



    MOSCOW, September 17. /ITAR-TASS/. Russia is capable of meeting the growing demand for gas in Europe and China, Gazprom’s CEO Alexey Miller said at a meeting with Russian President Vladimir Putin on Wednesday.

    “We have the ability to satisfy the growing demand on the Chinese market, in the east, and the demand in the European Union,” Miller said.

    Gas deliveries to EU in line with contracts


    Gas supplies to consumers in Europe are proceeding in line with contracts, Miller said. Gazprom has already pumped 3.8 billion cubic meters of gas to underground storage facilities in Europe. Overall, it plans to pump 5 billion cubic meters, Miller told Russian President Vladimir Putin on Wednesday. “Gazprom is carrying out stable deliveries of gas to European consumers. We are fully in line with our contract obligations,” Miller said.

    On Putin’s request, he explained the issue of additional gas volumes supplies. “We will be able to satisfy the increased demand of the European consumer in the future,” he said.

    Miller added that by early September, the volume of Russian gas supplies for export has already exceeded the target indicator by 3 billion cubic meters.

    Gas talks with China


    The company is holding talks on contract to supply 30 billion cubic meters of gas to China for 20 years, Gazprom CEO added. Gazprom may supply up to 100 billion cubic meters of gas to China along the western export route over a period of 20 years, Miller said. “As part of negotiations with China, various volumes for the western route have been made public,” he said. “A possibility of supplying from 60 bcm to 100 bcm is being considered," Miller noted.

    Miller recalled that the western route envisions deliveries of crude to customers in China from Western Siberia. It has a number of advantages, as it enables Russia to engage the previously built West-Siberian gas infrastructure. Also, thanks to the plans for gas processing in Western Siberia this route will require less investment than the Eastern Supplies Route.

    Miller stressed a possibility of a continuous buildup of supplies along the eastern route depending on China’s actual demand.

    Gazprom's plans for gas production in 2014


    As Russia’s major producer and exporter of natural gas, Gazprom plans to produce 463 billion cubic meters of gas in 2014, Miller said. According to Miller, Gazprom has an upstream capability of 617 bcm.

    He also told Putin about the performance under the program of ramification of gas distribution services, which the corporation is implementing in 67 constituent regions of the country. At the end of 2014, the provision of gas to households across the country is expected to reach 65%. Miller added that the availability of gas to household owners in rural areas had grown 20% since the launch of this program.

    Gazprom will increase the amount of gas in its underground storage facilities to a record level of 72 billion cubic metres, Miller said. Gazprom CEO said 60.5 billion cubic metres had already been stored and Gazprom was planning to finish filling up its underground storage facilities in the next month and a half.

    This will increase gas storage facilities’ productive capacity by 8% in the coming winter, he said.
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    Post  Austin Thu Sep 25, 2014 8:01 pm

    Sanctions & weaker oil prices could cost Russia 4% of GDP – official


    The geopolitical crisis in Ukraine could cut Russia’s balance of payments by the equivalent of 2% of GDP, and lower oil prices could knock off another 2%, Maksim Oreshkin, head of Russia’s Finance Ministry's strategic planning department, said.



    Russia’s Urals crude oil experienced a significant drop from its June price of above $110 per barrel to its current price of $93 per barrel, a reduction that Oreshkin believes, coupled with Ukraine-related economic problems, could sink Russia’s balance of payments by a total of 4 percent.

    Oreshkin explained that lower Urals crude prices reduce exports by $55 billion per year, the official said at the Fitch ratings agency conference on Thursday.


    The World Bank recently lowered their GDP growth estimate for Russia in 2014 to 0.5 percent, effectively equivalent to stagnation. In 2013, the economy expanded 1.1 percent to $2.1 trillion.


    The sudden drop is structural, whereas in the past it was cyclical Oreshkin said. Now it has to do with a decline in demand and increase in oil production, in addition to Libya returning to the oil market.

    "It is unlikely that we will see a sharp drop in prices, but we are unlikely to see a sharp rise. Most likely, we will see stabilization in the area of $90 per barrel,” he said.

    The Finance Ministry has projected a baseline Urals crude price of $104 in 2014, and $100 in 2015-17, but as noted by Economic Development Minister Aleksey Ulyukaev, there is a risk of price change, in the case of turmoil in the Middle East as well as a global economic turndown, which will lower consumer demand.

    Oreshkin said that Russia could be being too soft on monetary policy. The government has planned on $80 per barrel prices as a cut-off when drafting the budget.

    According to Oreshkin, the economy “didn’t even notice any shocks.”


    "When the Economic Development Ministry released a forecast of $100 per barrel, we said then that we see the risks that oil will cost $ 90-95. It fell in this range, however. When it comes to conservative projections, the use of the lower level of this range would be a conservative approach," Oreshkin said.

    Russia, the world’s largest energy exporter, relies on oil and gas exports for 50 percent of its federal budget, as well as 70 percent of the country’s total exports.

    Urals crude, Russia’s key export blend, hails from the Ural mountain and Volga regions, and is usually priced slightly below Brent.

    Sanctions also threaten Russia’s oil future.

    The CEO of Russia’s second-largest oil company, Lukoil, said that he expects sanctions to affect 20 percent of Russia’s total oil output – or about 100 million tons, The Moscow Times reported.

    Former Finance Minister Alexei Kudrin has warned that sanctions will cost Russia 1 percent of total GDP, which could send the economy into a recession, and lead to a 3-4 percent economic drop.

    In the worst scenario, if Russia is cut off from the SWIFT international banking payment system, Kudrin predicts a 5 percent drop in GDP.
    kvs
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    Post  kvs Fri Sep 26, 2014 2:16 am


    Russia’s Urals crude oil experienced a significant drop from its June price of above $110 per barrel to its current price of $93 per barrel, a reduction that Oreshkin believes, coupled with Ukraine-related economic problems, could sink Russia’s balance of payments by a total of 4 percent.

    Oreshkin explained that lower Urals crude prices reduce exports by $55 billion per year, the official said at the Fitch ratings agency conference on Thursday.

    As if this is the first time the oil price has dropped to this level over the last six years.   Storm in a teacup given that it never shaved Russian GDP growth
    over the same period.   The 2008 financial meltdown was not due to oil prices.


    Russia, the world’s largest energy exporter, relies on oil and gas exports for 50 percent of its federal budget, as well as 70 percent of the country’s total exports.

    Somebody is making up numbers.   The total oil and natural gas revenues of Russia are $315 billion ($260 billion from oil, 7 million barrels per day, and $55 billion from gas) but exports were nearly $600 billion in 2013.   The budget for 2014 sees $410 billion in revenues.   So we are supposed to believe that around $205 billion are from oil and gas exports.   So Russian oil and gas producers only see $110 billion and get taxed at 65%.   Please, put the crack pipe down!


    Former Finance Minister Alexei Kudrin has warned that sanctions will cost Russia 1 percent of total GDP, which could send the economy into a recession, and lead to a 3-4 percent economic drop.

    In the worst scenario, if Russia is cut off from the SWIFT international banking payment system, Kudrin predicts a 5 percent drop in GDP.

    Kudrin is a monetarist with an agenda.  Take everything within context.   If Ukraine is supposed to lose 6% of its GDP from the current disaster, then there is no way Russia would lose 5%.   Basically, it is a game of soft and gentle for us and our allies and hard and brutal for our enemies with these numbers.


    Last edited by kvs on Fri Sep 26, 2014 2:18 am; edited 1 time in total (Reason for editing : typos)
    George1
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    Post  George1 Sat Sep 27, 2014 3:21 am

    Russian oil and gas equipment manufacturers to set up national company

    GUS KHRUSTALNY, Vladimir Region, September 26. /ITAR-TASS/. Russian manufacturers of oil and gas equipment will create a national engineering oil service company, according to the memorandum signed on Friday.

    The new company will be created at Uralvagonzavod by nine enterprises which signed the memorandum in the presence of Minister of Industry and Trade Denis Manturov.

    The creation of the new company is part of the government’s import-substitution and production localisation efforts in the field of oil and gas equipment and services.

    Manturov said he was hopeful that several such companies would be created in Russia to provide the full range of oil services.
    kvs
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    Post  kvs Sat Sep 27, 2014 4:35 am

    George1 wrote:Russian oil and gas equipment manufacturers to set up national company

    GUS KHRUSTALNY, Vladimir Region, September 26. /ITAR-TASS/. Russian manufacturers of oil and gas equipment will create a national engineering oil service company, according to the memorandum signed on Friday.

    The new company will be created at Uralvagonzavod by nine enterprises which signed the memorandum in the presence of Minister of Industry and Trade Denis Manturov.

    The creation of the new company is part of the government’s import-substitution and production localisation efforts in the field of oil and gas equipment and services.

    Manturov said he was hopeful that several such companies would be created in Russia to provide the full range of oil services.

    The west did not invest in Russia after its transition to capitalism. Now the west imposes sanctions thinking Russia is a banana republic.

    End result: Russia gets a massive GDP boost from spending its money domestically by relying on indigenous goods and services. Spending
    money on foreign goods and services is a negative (on the balance sheet, indirectly it could be a positive). Russia's exports are not going to
    collapse from the sanctions. Its export markets are energy and the developing world.
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    Post  Austin Mon Sep 29, 2014 1:53 pm

    Russia’s discovered oil reserves stand at 17.8 billion tons — official


    MOSCOW, September 29. /ITAR-TASS/. Russia’s discovered oil reserves stand at 17.8 billion tons, as calculated under the national reserves estimate system, President of the Union of Oil and Gas Producers of Russia Gennady Shmal told a press conference on Monday.

    He said that C2 reserves stand at 8 billion tons.

    In 2013, the reserves growth exceeded production by 688.34 million tons for oil and by 1 trillion cubic meters for gas.
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    Post  Viktor Sun Oct 05, 2014 5:10 pm

    As time goes by we hear more and more about the new epic Russia-China gas contract


    Contract for the supply of gas in the Russian Federation, China could be signed before the end of the year
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    Post  Austin Mon Oct 06, 2014 5:05 pm

    Eni: Russia ranks first in the world in natural gas reserves




    MOSCOW, October 6.  / TASS /.  Russia has the largest natural gas reserves in the world: in Russia is 24.4% of the total world reserves, or 49.541 trillion cubic meters. m., says the annual report of the World Oil and Gas Review, prepared by the Italian energy company Eni.


    At the same stocks on December 31, 2013 increased by 1.5% compared to the end of 2012, estimated at Eni.


    The second largest gas reserves Iran occupies 16.7% of the total world reserves, there is the 33948000000000 cube.  m, and the third - Qatar with 24936000000000 cube.  m. fourth place by a large margin is Turkmenistan, where 9,967,000,000,000 cubic meters.  meters of gas reserves.


    Producer of natural gas, Russia is the second largest in the world after the United States, producing 19.2% of the total production in the world, according to the study.  Mining December 31, 2013 in Russia grew by 2% compared to the end of 2012, to 657.66 billion cubic meters.  m, calculated in Eni.  In the USA, production amounted to 673, 51 billion cubic meters.  m (19.7% of world production).


    Oil reserves




    Russian oil reserves in eighth place with 4.8% of world reserves after Venezuela (18%), Saudi Arabia (16.2%), Canada (10.4%), Iran (9.5%), Iraq (8, 5%), Kuwait (6.3%) and the UAE (5.9%). In Russia, located 80 billion barrels of reserves, compared with 2012 stocks have not changed.


    Russian oil production also occupies the second place in the world (after Saudi Arabia) - 12.5% ​​of world production.  By the end of 2013, oil production increased by 1.4% to 10.877 million barrels a day.  In Saudi Arabia, production reached 11,566,000 barrels (13.2% of world production).


    Gas exports




    Russian gas export ranks first in the world.  RF exported on the basis of 2013 206 530 000 000 cubic meters.  m, according to the report.  This figure is 9% more than in 2012.


    Iran, which took second place, exported 128.08 billion cubic meters.  meters of gas in 2013.  Its exports grew by 1.7%.


    Third place goes to Norway, which reduced exports in 2013 by 6.5% compared with 2012, to 103.77 billion cubic meters.  m.
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    Post  Austin Mon Oct 20, 2014 4:52 pm

    Foreign partners of "Rosneft" in the Arctic want to keep the relationship

    MOSCOW, Oct. 20 - RIA Novosti. Foreign partners "Rosneft" to develop the Arctic shelf, whose cooperation has been complicated by the sanctions of the West, tend to keep the relationship and get back to the project in the Kara Sea, said the President's Special Envoy for International Cooperation in the Arctic and Antarctic, Member of the Board of Directors of "Rosneft" Artur Chilingarov.


    "Rosneft" and ExxonMobil in September 2014 as a result of drilling "University-1" in the Kara Sea, opened a new field in the license area of ​​the East Prinovozemelsky-1. He was named "Victory". Preliminary assessment of the resource base - 338 billion cubic meters of gas and 100 million tons of oil.


    "The project" University-1 "were involved in many international companies, including ExxonMobil, Nord Atlantic Drilling, Halliburton and others. Under these circumstances, the sanctions further cooperation with them is difficult. But companies strive to maintain a relationship with their foreign partners in order to they were able to return to the project after the political relations of the USA and the EU countries (with Russia - Ed.) will be normalized, "- said Tchilingarov at the round table" The Arctic "Victory" - a step in the energy future of Russia ", organized by Mia" Russia today. "


    Tchilingarov recalled that the total reserves of "Rosneft" in the Arctic is estimated at 38.3 billion tons of oil equivalent. In the next 20 years, the state company intends to invest in its Arctic projects $ 400 billion.


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    Post  Austin Mon Oct 20, 2014 4:53 pm

    Rosnet reserve at Arctic at 38.3 billion ton is equivalent of  268 bbl oil
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    Post  sepheronx Wed Oct 22, 2014 7:15 pm

    http://en.itar-tass.com/economy/755856

    So stupid as Rosneft operates with Revenue of over $100B, they should fund themselves out of an issue. Maybe government instead should sell Rosneft off, that should make a good fair amount of money. These oil companies are really going to try to take advantage of the Russian people. Rosneft has already lots of money and a lot of their fields are already made. They used to opperate on much cheaper oil prices and with currency down, will be cheaper to operate at home. Starting to sound like rosneft are crooks.
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    Post  Viktor Wed Oct 22, 2014 7:54 pm

    sepheronx wrote:http://en.itar-tass.com/economy/755856

    So stupid as Rosneft operates with Revenue of over $100B, they should fund themselves out of an issue. Maybe government instead should sell Rosneft off, that should make a good fair amount of money. These oil companies are really going to try to take advantage of the Russian people. Rosneft has already lots of money and a lot of their fields are already made. They used to opperate on much cheaper oil prices and with currency down, will be cheaper to operate at home. Starting to sound like rosneft are crooks.

    RF will with this 50 bin $ buy back much of Rosfnet shares Very Happy



    -------

    https://www.russiadefence.net/viewtopic.forum?t=3552
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    Post  magnumcromagnon Wed Oct 22, 2014 8:02 pm

    sepheronx wrote:http://en.itar-tass.com/economy/755856

    So stupid as Rosneft operates with Revenue of over $100B, they should fund themselves out of an issue. Maybe government instead should sell Rosneft off, that should make a good fair amount of money. These oil companies are really going to try to take advantage of the Russian people. Rosneft has already lots of money and a lot of their fields are already made. They used to opperate on much cheaper oil prices and with currency down, will be cheaper to operate at home. Starting to sound like rosneft are crooks.

    Sell them off, why? So that Western company's could buy them up and control large parts of Russia's oil reservoirs and further asset-strip Russian companies like they did in the 90's? Do we want another Yukos scenario? Why not just sell Sukhoi off to Lockheed Martin, or sell Mig to Boeing, etc. this way the Russian govt. can make money while at the same time Western aerospace company's can kill off their competition and asset strip them too, the U.S. military will win with a much weaker Russian aerospace industry. Technically that's a "win-win-win" situation. I strongly disagree with your suggestion that major Russian join-stock companies should be completely privatized, they'll either seriously be asset-stripped or the majority of their assets and revenue will be hidden in off-shore accounts, in countries that'll likely engage in sanctions against Russia at some point or another. Private companies cry foul when you nationalize their assets (even when they're raping that country of it's of wealth), so why should it be o.k. for the other way around? Rosneft is not even doing that bad, it certainly isn't in bad shape and the money investment may actually become a good investment, or they could be urged to use their own money reservoirs, or even go towards China and trade oil for cash.
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    Post  sepheronx Wed Oct 22, 2014 9:00 pm

    Ok, then why bother giving this money? Why not use its own resource? Russia has multiple oil and gas companies under its control. Either merge some of them or do something. But giving them $40+ B when they have over a hundred in revenue, is just silly. They developed during a time when oil value was significantly less. They can develop now. Sounds to me they dont want to use their own money but taxpayers money instead. That money should go to give long term low interest rate loans to companies doing more than resource extraction. Maybe Rosneft should own oil refineries and plastic plants and tire plants like Gazprom to earn more money before they get any bailout money. Heck, Gazprom was in a weaker position and isnt begging for this.
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    Post  Austin Thu Oct 23, 2014 2:28 pm

    Sechin: Resources "Rosneft" offshore account for 20% of the world


    Extraction "Rosneft" has reached 5.1 million barrels of oil equivalent per day, said company president Igor Sechin at the Third Eurasian Forum in Verona. He noted that this volume "Exceeds the production of many major oil-producing countries." "Over the last five years " Rosneft "steadily replaces more than 100% of its production," - he added.


    According to Sechin, "Rosneft" has the largest offshore resource base. "We own about 20% of the resources on the shelf of the world's oceans, which represents a 25.5 billion tons of oil and 25 trillion cubic meters. meters of gas. The total volume of proved reserves of 122 billion barrels. These stocks are the best in the world in terms of the efficiency of development and production, which they provide. In just the past 10 years the company has opened 92 oil and gas fields, the largest of them - in Eastern Siberia, "- said the head of "Rosneft".


    Total procurement "Rosneft" in 2014 will exceed 23 billion euros. Deductions "Rosneft" to the Russian budget is $ 80 billion a year.



    Читайте далее: http://www.vedomosti.ru/companies/news/35127941/sechin-resursy-rosnefti-na-shelfe-sostavlyayut-20-ot-mirovyh#ixzz3GyETqjJK

    Читайте далее: http://www.vedomosti.ru/companies/news/35127941/sechin-resursy-rosnefti-na-shelfe-sostavlyayut-20-ot-mirovyh#ixzz3GyEQIdQj
    avatar
    Austin


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    Post  Austin Thu Oct 23, 2014 8:53 pm

    Sechin: oil can rise to $ 150 with the introduction of offshore projects

    http://ria.ru/economy/20141023/1029725726.html


    VERONA (Italy), October 23 - RIA Novosti. Price of oil on the world market may reach $ 150 a barrel after the mass input of mining projects on the shelf, which is expected in 2020, told the head of "Rosneft" Igor Sechin.


    "$ 150 per barrel while typing on offshore projects. Must take into account characteristics of the deposits from which oil will flow into the market. Market will have to compensate for the investment," - said Sechin, explaining that the production on the shelf will be associated with high costs because of the need the use of expensive technologies, these costs will inevitably be reflected in the price of oil.


    The head of "Rosneft" said the Russian company is now the lowest cost of production - in the region of 4.5-5 per barrel, while the American Exxon figure exceeds $ 15 per barrel. "The structure of these stocks is heavy, it's hard-to-oil and gas, it is offshore projects, but the market provides them with compensation on investment, so it will ensure that in the case of deficit volumes the same compensation and on other projects. Perhaps 150 (dollars per barrel - Ed.). It's not now, it's a bit later, "- said Sechin.


    On the question of when such a price can be established, Sechin said that "Rosneft" to enter the offshore deposits since 2020. "That is why, from this outcome," - he said.




    Viktor
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    Post  Viktor Thu Oct 23, 2014 9:25 pm

    Austin wrote:RF enough reserves to production to 600 million tons of oil per year for 30 years

    Thats 120 bbl and 6th place on the list LINK
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    Austin


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    Post  Austin Fri Oct 24, 2014 8:53 am

    Viktor wrote:
    Austin wrote:RF enough reserves to production to 600 million tons of oil per year for 30 years

    Thats 120 bbl and 6th place on the list LINK

    1 Billion Ton for Ural Bled is 7.4 billion Barrel of OIL ( 7.4 bboe )

    600 million tons x 30  , 18 Billion Ton

    18*7.4 =  133 bbl

    so pretty close to Iraq Reserves

    But thats a conservative estimate , they did not put out C2 reserve with is 10.9 Billion Tons  , And ofcourse excluding the Artic Reserves.


    http://sdelanounas.ru/blogs/36708

    Would suggest read the discussion in the link
    Viktor
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    Post  Viktor Fri Oct 24, 2014 6:56 pm

    Austin wrote:
    Viktor wrote:
    Austin wrote:RF enough reserves to production to 600 million tons of oil per year for 30 years

    Thats 120 bbl and 6th place on the list LINK

    1 Billion Ton for Ural Bled is 7.4 billion Barrel of OIL ( 7.4 bboe )

    600 million tons x 30  , 18 Billion Ton

    18*7.4 =  133 bbl

    so pretty close to Iraq Reserves

    But thats a conservative estimate , they did not put out C2 reserve with is 10.9 Billion Tons  , And ofcourse excluding the Artic Reserves.


    http://sdelanounas.ru/blogs/36708

    Would suggest read the discussion in the link

    Austin, thats proven reserves we are talking about. Very Happy


    And some other nice news.

    Russia starts first-ever gas trading in St. Petersburg

    Russia, Belarus and Kazakhstan will establish an analogue of SWIFT

    and something interesting .....

    Russia may act as Iran payment intermediary for India

    kvs
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    Post  kvs Sat Oct 25, 2014 1:34 am

    Estimates putting Russia's oil reserves at the level of Kuwait are simply not credible. The closest analogue is the USA with
    about 240 billion barrels. I am referring to conventional oil and not reserves such as the Bazhenov which could make the
    Bakken and similar fields look like a drop in the bucket.

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