Russia Defence Forum

Would you like to react to this message? Create an account in a few clicks or log in to continue.

Military Forum for Russian and Global Defence Issues


+68
Big_Gazza
calripson
Mindstorm
Rodion_Romanovic
auslander
Odin of Ossetia
MiamiMachineShop
Kimppis
Hole
KomissarBojanchev
Nibiru
JohninMK
ZoA
ATLASCUB
miketheterrible
PapaDragon
Henrik5927
Svyatoslavich
zepia
Rmf
victor1985
sepheronx
Karl Haushofer
Project Canada
Prince Darling
higurashihougi
max steel
Neutrality
whir
Regular
nobunaga
KoTeMoRe
Vann7
Morpheus Eberhardt
Kyo
par far
Austin
kvs
Mike E
Werewolf
Flyingdutchman
vK_man
Asf
navyfield
Firebird
dino00
Hannibal Barca
magnumcromagnon
etaepsilonk
zg18
gaurav
zino
macedonian
As Sa'iqa
flamming_python
Rpg type 7v
TheArmenian
TR1
medo
AlfaT8
Viktor
Cyberspec
George1
Pervius
Russian Patriot
IronsightSniper
GarryB
Admin
72 posters

    Russian Oil and Gas Industry: News

    sepheronx
    sepheronx


    Posts : 8558
    Points : 8820
    Join date : 2009-08-06
    Age : 34
    Location : Canada

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  sepheronx Sun May 31, 2015 11:05 pm

    But these loans are local with maybe some exceptions of them looking to China for some. But I agree, the banking sector is very under developed and CBR is at fault.
    Viktor
    Viktor


    Posts : 5796
    Points : 6429
    Join date : 2009-08-25
    Age : 43
    Location : Croatia

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  Viktor Mon Jun 01, 2015 1:06 am

    Nice thumbsup

    Iranian oil company executive says Russia-Iran oil deal will not be of barter type
    KoTeMoRe
    KoTeMoRe


    Posts : 4212
    Points : 4227
    Join date : 2015-04-21
    Location : Krankhaus Central.

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  KoTeMoRe Mon Jun 01, 2015 2:06 am

    kvs wrote:
    sepheronx wrote:
    Austin wrote:Rosneft Seeks $200 Billion in Loans

    I was reading that and someone else in comments section pointed out that it looks more like to see how much they could borrow in short notice, based upon those numbers on how many days of borrowing. Some 30 days while another for 7 years. The other one is that there may be something huge in the works for Rosneft and they require such capital for such project. But the variety of the loans and borrowing days are way too odd.

    Oil majors have massive capital expenditures on field development.   And these expenditures have been getting bigger and bigger every year
    as the quality of oil field finds and the number of finds has been steadily declining since the 1980s.   $200 billion is peanuts.   This story
    highlights what I was harping on about earlier.   Companies need access to loans for operations.   It is not the same thing as government
    which usually piles on debt because of political opportunism.   Companies borrow and then pay off their loans as part of their normal cycle.

    Thanks to the monetarists in the CBR and the Ministry of Finance in Russia, the capital market in Russia is very underdeveloped.   And on
    top of this the interest rate is simply punitive and creates a massive disincentive for companies to borrow locally.   So they are forced to
    borrow abroad.   This leaves Russia open to currency attacks and banking sector sanctions as a means of undermining its economy.  So
    those monetarists, such as Kudrin, are indeed a bunch of 5th columnist dirtbags.

    200 Bln is mofo huge, That's almost twice the 2014 revenue...this means a huge break out in a mega oilfield. Or ...

    Nevermind...
    kvs
    kvs


    Posts : 15178
    Points : 15315
    Join date : 2014-09-11
    Location : Turdope's Kanada

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  kvs Mon Jun 01, 2015 3:21 am

    KoTeMoRe wrote:
    kvs wrote:
    sepheronx wrote:
    Austin wrote:Rosneft Seeks $200 Billion in Loans

    I was reading that and someone else in comments section pointed out that it looks more like to see how much they could borrow in short notice, based upon those numbers on how many days of borrowing. Some 30 days while another for 7 years. The other one is that there may be something huge in the works for Rosneft and they require such capital for such project. But the variety of the loans and borrowing days are way too odd.

    Oil majors have massive capital expenditures on field development.   And these expenditures have been getting bigger and bigger every year
    as the quality of oil field finds and the number of finds has been steadily declining since the 1980s.   $200 billion is peanuts.   This story
    highlights what I was harping on about earlier.   Companies need access to loans for operations.   It is not the same thing as government
    which usually piles on debt because of political opportunism.   Companies borrow and then pay off their loans as part of their normal cycle.

    Thanks to the monetarists in the CBR and the Ministry of Finance in Russia, the capital market in Russia is very underdeveloped.   And on
    top of this the interest rate is simply punitive and creates a massive disincentive for companies to borrow locally.   So they are forced to
    borrow abroad.   This leaves Russia open to currency attacks and banking sector sanctions as a means of undermining its economy.  So
    those monetarists, such as Kudrin, are indeed a bunch of 5th columnist dirtbags.

    200 Bln is mofo huge, That's almost twice the 2014 revenue...this means a huge break out in a mega oilfield. Or ...

    Nevermind...

    http://investorplace.com/2012/03/exxons-massive-spending-plan-looks-right-on-the-money/#.VWuzIEaRLao

    Exxon allocated $150 billion over 5 years in 2012. Perhaps Rosneft is doing the same 5 year plan. The stock valuation of
    Exxon does not properly scale its size relative to Rosneft. Rosneft may actually be bigger in terms of oil field development.
    It just has less value added production to bad is income.
    max steel
    max steel


    Posts : 2930
    Points : 2955
    Join date : 2015-02-12
    Location : South Pole

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  max steel Tue Jun 02, 2015 9:27 pm

    Gazprom Neft sells oil to China in renminbi rather than dollars Laughing Cool

    http://www.ft.com/intl/cms/s/0/8e88d464-0870-11e5-85de-00144feabdc0.html
    Neutrality
    Neutrality


    Posts : 888
    Points : 906
    Join date : 2015-05-02

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  Neutrality Tue Jun 02, 2015 10:08 pm

    Can you link a related article that's not behind a pay wall?
    max steel
    max steel


    Posts : 2930
    Points : 2955
    Join date : 2015-02-12
    Location : South Pole

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  max steel Tue Jun 02, 2015 11:13 pm

    Neutrality wrote:Can you link a related article that's not behind a pay wall?


    I WAS ABLE TO OPEN IT WTHOUT PAYING ANY SUBSCRIPTION CHARGES. well actually there is a trick to open FT articles Cool. Let me help you .



    Gazprom Neft, Russia’s third-largest oil producer, is now settling all of its crude sales to China in renminbi, in the most clear sign yet that western sanctions have driven an increase in the use of the Chinese currency by Russian companies.
    Russian executives have talked up the possibility of a shift from the US dollar to renminbi as the Kremlin launched a “pivot to Asia” foreign policy partly in response to the western sanctions against Moscow over its intervention in Ukraine, but until now there has been little clarity over how much trade is being settled in the Chinese currency.


    Gazprom Neft, the oil arm of state gas giant Gazprom, said on Friday that since the start of 2015 it had been selling in renminbi all of its oil for export down the East Siberia Pacific Ocean pipeline to China.

    Russian companies’ crude exports were largely settled in dollars until the summer of last year, when the US and Europe imposed sanctions on the Russian energy sector over the Ukraine crisis.

    Those sanctions restricted financing in dollars and euros for certain Russian energy companies, including Gazprom Neft.
    Although the US and European sanctions expressly allowed customers to continue paying Russian companies for oil and gas sales in dollars and euros, the sanctions triggered alarm among Russian executives, who viewed the measures as a sign that the west was willing to use currency as a weapon.
    Gazprom Neft responded more rapidly than most, with Alexander Dyukov, chief executive, announcing in April last year that the company had secured agreement from 95 per cent of its customers to settle transactions in euros rather than dollars, should the need to do so arise.
    Mr Dyukov later said the company had started selling oil for export in roubles and renminbi, but he did not specify whether the sales were significant in scale.

    According to Gazprom Neft’s first-quarter results issued last month, the East Siberian Pacific Ocean pipeline accounted for 37.2 per cent of the company’s crude oil exports of 1.6m tonnes in the three months to March 31.

    This implied a volume of about 50,000 barrels a day, worth more than $1bn a year at today’s prices.

    Other Russian energy groups have been more reluctant to drop the dollar for settlement of oil sales, because the lower liquidity of alternative currencies is likely to result in higher costs.

    Meanwhile, Russian companies are trying to raise more capital from China, amid a near-total freeze in new western lending to the country because of the Ukraine-related sanctions.

    Gazprom last year listed its shares in Singapore, while Rosneft, the country’s largest oil producer, has negotiated credit lines with several Russian state banks in renminbi.

    sepheronx
    sepheronx


    Posts : 8558
    Points : 8820
    Join date : 2009-08-06
    Age : 34
    Location : Canada

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  sepheronx Wed Jun 03, 2015 10:17 pm

    Saudi Arabia considers opportunity of investing into Russia’s oil industry



    I wouldn't give them a drop.  F Saudi Arabia

    Russia’s Lukoil is interested in returning to Iran after sanctions are lifted — CEO

    Invest now.  Since Russia is getting sanctioned illegally and UN is doing squat about it, Russia should not recognize the sanctions on Iran and just outright invest in them now, before sanctions are lifted and western stooges get preferential treatment.

    India’s Glenmark explores opportunity of localizing pharmaceuticals production in Russia

    Hopefully this actually goes through and new pharmaceutical plants open up.
    sepheronx
    sepheronx


    Posts : 8558
    Points : 8820
    Join date : 2009-08-06
    Age : 34
    Location : Canada

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  sepheronx Wed Jun 03, 2015 10:32 pm

    Moscow, New Delhi Mull Construction of Gas Pipeline to India
    Russia may lay a gas pipeline to India, the Russian Energy Minister said.
    VIENNA (Sputnik) — Moscow and New Delhi are discussing the preparation for construction of a pipeline to deliver Russian natural gas to India, Russian Energy Minister Alexander Novak said on Wednesday.

    "I discussed [today] with India's minister of oil and energy the construction of a gas pipeline to India," Novak said in an interview with Rossiya-24 TV channel.

    "A working group has been set up, the [preparatory] work is underway. We discussed the interim results," Novak said.

    Iraq Prioritizes Joint Projects With Russia's LUKoil
    Iraq considers Russian oil company LUKoil an important partner, and prioritizes projects with the company, Iraqi Oil Minister Adel Abdel Mahdi said Tuesday.
    Russia's oil and gas company LUKoil is continuing its negotiations with Iraq on the participation in the Nasiriyah project


    MOSCOW (Sputnik) — Iraq and the Russian oil giant have a number of contracts, "that also work in future, and is priority for us," Mahdi told RIA Novosti on the sidelines of the Organization of the Petroleum Exporting Countries (OPEC) seminar in Vienna.
    LUKoil is involved in several projects in Iraq, including Block 10. The project is set to last until 2017, and includes 2D seismic surveying and the drilling of one exploration well. LUKoil is also operating on the West Qurna-2 oil field in Iraq, which is ranked among the largest oil fields in the world.

    In April, Russian Foreign Ministry said that Moscow and Baghdad were eager to extend their cooperation in oil and gas ventures.

    LUKoil President Vagit Alekperov said later that month that the company was in talks with Iraq on the development of the Nasiriyah oil field, which is believed to contain 4 billion barrels of oil.
    max steel
    max steel


    Posts : 2930
    Points : 2955
    Join date : 2015-02-12
    Location : South Pole

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  max steel Thu Jun 04, 2015 6:19 am

    [quote="sepheronx"]Moscow, New Delhi Mull Construction of Gas Pipeline to India
    Russia may lay a gas pipeline to India, the Russian Energy Minister said.
    VIENNA (Sputnik) — Moscow and New Delhi are discussing the preparation for construction of a pipeline to deliver Russian natural gas to India, Russian Energy Minister Alexander Novak said on Wednesday.

    "I discussed [today] with India's minister of oil and energy the construction of a gas pipeline to India," Novak said in an interview with Rossiya-24 TV channel.

    "A working group has been set up, the [preparatory] work is underway. We discussed the interim results," Novak said.

    An ambitious task i would say . India aint that easy to reach with russian pipelines . They cant come through Himalayas neither india will allow pipeline coming from Pakistan . Unfeasible project . Ive been hearing this sMe stuff fir quite a few years .
    higurashihougi
    higurashihougi


    Posts : 3139
    Points : 3226
    Join date : 2014-08-13
    Location : A small and cutie S-shaped land.

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  higurashihougi Thu Jun 04, 2015 7:15 am

    sepheronx wrote:Saudi Arabia considers opportunity of investing into Russia’s oil industry

    I wouldn't give them a drop.  F Saudi Arabia

    I thought Saudi should have been supporting its Western allies to increase "sanction" against Russia Laughing Laughing Laughing Laughing
    Viktor
    Viktor


    Posts : 5796
    Points : 6429
    Join date : 2009-08-25
    Age : 43
    Location : Croatia

    Russian Oil and Gas Industry: News - Page 15 Empty Russian Oil and Gas Industry: News

    Post  Viktor Thu Jun 04, 2015 10:20 am

    Nice thumbsup

    Novak: discuss the construction of the gas pipeline from Russia to India
    avatar
    Karl Haushofer


    Posts : 1109
    Points : 1102
    Join date : 2015-05-03

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  Karl Haushofer Tue Jun 09, 2015 12:22 pm

    Lenta.ru reports that Russia decreased the gas price for Ukraine from $287 to $262. Those who wanted for the Kremlin to play hardball with Ukraine will be disappointed.
    Regular
    Regular


    Posts : 3872
    Points : 3846
    Join date : 2013-03-10
    Location : Ukrolovestan

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  Regular Tue Jun 09, 2015 12:59 pm

    It's Ukraine playing hardball with Gazprom
    avatar
    Karl Haushofer


    Posts : 1109
    Points : 1102
    Join date : 2015-05-03

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  Karl Haushofer Tue Jun 09, 2015 1:12 pm

    Regular wrote:It's Ukraine playing hardball with Gazprom
    Yes, whatever. But what matters is that Ukraine sets the rules and not Russia.
    Viktor
    Viktor


    Posts : 5796
    Points : 6429
    Join date : 2009-08-25
    Age : 43
    Location : Croatia

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  Viktor Sat Jun 20, 2015 10:59 am

    Nice  thumbsup

    Russia’s Rosneft, Venezuela’s PDVSA Confirm Intention to Create Gas Venture

    Russia, Japan to Join Hands in LNG Production on Sakhalin[/url

    of the outmost importance

    [url=http://www.vestifinance.ru/articles/58986]Putin: Russia does not recognize the jurisdiction of The Hague Court

    "Nord Stream-2" will cost 9.9 billion euros

    UniCredit Bank Austria has provided "Gazprom" credit
    Viktor
    Viktor


    Posts : 5796
    Points : 6429
    Join date : 2009-08-25
    Age : 43
    Location : Croatia

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  Viktor Sat Jun 20, 2015 2:57 pm

    Nice thumbsup

    "Gazprom" will receive offshore technology in Scotland

    5.5 bin $ in concrats signed

    On SPIEF signed agreements for 300 billion rubles

    Large Russia-China Investment Projects Inked at St. Petersburg Forum

    "Rosatom" will provide "Rosneft" import-substituting equipment
    George1
    George1


    Posts : 18342
    Points : 18839
    Join date : 2011-12-22
    Location : Greece

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  George1 Mon Jun 22, 2015 5:20 am

    Rosneft inks 57 out of 58 planned deals at SPIEF

    MOSCOW, June 20. /TASS/. Rosneft, the Russian major oil company, has sealed 57 out of 58 scheduled deals at the St. Petersburg International Economic Forum, the company’s CEO Igor Sechin told the Rossiya 24 television on Saturday.

    Rosneft views some of the deals as strategic, especially with the UK company BP establishing a joint venture on the Taas-Yuryakh field, Sechin said.

    Besides, the oil giant inked 20 agreements with Russian regions stipulating assistance in social projects and new jobs there.

    Rosneft and BP signed an agreement on the joint venture Taas-Yuryakh gas company in East Siberia. The UK company will acquire the 20% participation stake in the project in line with the sealed deal amounting to $750 million.

    The joint venture will develop the Srednebotuobinskoe oil and gas condensate field part of Taas-Yuryakh Project, one of the largest in East Siberia, where about 20,000 barrels are produced daily. Along with this, the joint venture will set up infrastructure for further prospecting and developing the region’s resources and both companies will explore an area of 115,000 square kilometres within the zone of mutual interests.

    Investors from China along with companies from other countries may become partners of Rosneft, the Russian state-owned oil company, and British BP for developing the Taas-Yuryakh field, Sechin told.

    Partnership was on the negotiation table with China’s state-owned companies and with private investors like Skyland Petroleum.

    However, "there are other companies we are in negotiations with, we are determined to work with all," Sechin said.

    In the past year Rosneft launched the Srednebotuobinskoe oil and gas condensate field part of Taas-Yuryakh Project, one of the largest in East Siberia, where about 20,000 barrels are produced daily. The UK company will acquire the 20% participation stake in the project in line with the sealed deal. Skyland Petroleum is negotiating the purchase of 29% participation stake in the project. BP share is estimated at $750 million.
    medo
    medo


    Posts : 4342
    Points : 4422
    Join date : 2010-10-24
    Location : Slovenia

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  medo Wed Jun 24, 2015 7:48 pm

    http://finance.yahoo.com/news/russia-just-one-upped-saudis-180031804.html

    http://finance.yahoo.com/news/saudi-arabia-loses-spot-top-124039108.html

    Russia become the largest oil supplier for China, Angola is next and Saudi Arabia fall to the third place. Saudi Arabia also fall in India, where Saudi Arabia lost to Nigeria. If Saudi Arabia want to recapture its position, they will have to sell oil in Renminbi instead of US Dolar.

    US Dollar is loosing its monopoly position in oil and gas trade and this will be a big blow for US empire. With loosing its monopoly position, USD will quickly lost its value.
    medo
    medo


    Posts : 4342
    Points : 4422
    Join date : 2010-10-24
    Location : Slovenia

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  medo Wed Jun 24, 2015 7:49 pm

    http://finance.yahoo.com/news/russia-just-one-upped-saudis-180031804.html

    http://finance.yahoo.com/news/saudi-arabia-loses-spot-top-124039108.html

    Russia become the largest oil supplier for China, Angola is next and Saudi Arabia fall to the third place. Saudi Arabia also fall in India, where Saudi Arabia lost to Nigeria. If Saudi Arabia want to recapture its position, they will have to sell oil in Renminbi instead of US Dolar.

    US Dollar is loosing its monopoly position in oil and gas trade and this will be a big blow for US empire. With loosing its monopoly position, USD will quickly lost its value.
    avatar
    Karl Haushofer


    Posts : 1109
    Points : 1102
    Join date : 2015-05-03

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  Karl Haushofer Thu Jul 09, 2015 11:38 pm

    Romania has started an assault against Lukoil. No doubt this is politically motivated:
    http://www.romania-insider.com/romanian-prosecutors-seize-lukoils-accounts/152514/
    http://www.romania-insider.com/lukoil-business-romania/152551/
    Reply
    kvs
    kvs


    Posts : 15178
    Points : 15315
    Join date : 2014-09-11
    Location : Turdope's Kanada

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  kvs Fri Jul 10, 2015 12:33 am

    Karl Haushofer wrote:Romania has started an assault against Lukoil. No doubt this is politically motivated:
    http://www.romania-insider.com/romanian-prosecutors-seize-lukoils-accounts/152514/
    http://www.romania-insider.com/lukoil-business-romania/152551/
    Reply

    Another pipsqueak NATO bootlick regime acting all tough.

    These idiot don't get the clue that they are not the ones with the energy resources. Russia is the country that
    has them. They can try to f*ck Russia over for a few billion dollars today, but Russia can make their future a
    living hell.

    It is time for Russia to start charging a penalty premium on its gas and oil shipped to the EU and the rest of NATO.
    Let them eat LNG, solar panel and wind mill cake. We'll see how long they last on that diet.
    George1
    George1


    Posts : 18342
    Points : 18839
    Join date : 2011-12-22
    Location : Greece

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  George1 Tue Jul 14, 2015 12:01 am

    Rosneft has signed agreement on oil supplies to India — source
    avatar
    par far


    Posts : 3488
    Points : 3733
    Join date : 2014-06-26

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  par far Tue Jul 14, 2015 11:21 pm

    Karl Haushofer wrote:Romania has started an assault against Lukoil. No doubt this is politically motivated:
    http://www.romania-insider.com/romanian-prosecutors-seize-lukoils-accounts/152514/
    http://www.romania-insider.com/lukoil-business-romania/152551/
    Reply


    Did Lukoil or the Russian government issue any statements on this situation?
    JohninMK
    JohninMK


    Posts : 14820
    Points : 14959
    Join date : 2015-06-16
    Location : England

    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  JohninMK Wed Jul 15, 2015 10:40 pm

    I suspect that you all know the importance of the oil as well as gas exports from Russia to the EU. Well, it looks like someone is starting to poke the oil bear.


    LUKoil vice-president for oil refining says the Russia’s oil company wants the European Commission’s help in tackling allegations of money laundering and tax evasion at its refinery in Romania.

    BRUSSELS (Sputnik) – Russia’s oil company LUKoil wants the European Commission’s help in tackling allegations of money laundering and tax evasion at its refinery in Romania, LUKoil vice-president for oil refining said Wednesday.

    Prosecutors in the city of Ploesti said last week that they had seized fixed assets belonging to LUKoil’s Romanian subsidiary as part of an ongoing investigation into money laundering and tax evasion.

    "We would like to see European involvement in this because we have a small, relatively minor court making huge decisions that impact not only Romanian assets, but now European assets," Thomas Mueller told reporters. The frozen assets, belonging to Petrotel-Lukoil in Ploesti and the Netherlands-based Lukoil Europe Holdings that is Petrotel’s majority stakeholder, are valued from $657 million to $2.4 billion. Mueller added that LUKoil CEO Vagit Alekperov had requested assistance in the form of a "more open" investigation in a written letter to European Commission Vice-President for Energy Union Maros Sefcovic last week.

    A source close to the matter later confirmed to RIA Novosti that Sefcovic had received Alekperov’s letter and is reviewing it, but declined to elaborate further.

    LUKoil’s vice-president warned that European assets, worth nearly $10 billion, are on the line if the Petrotel refinery in Ploesti shuts down. Romanian authorities have temporarily closed down the refinery in the past, including a raid conducted last October, on similar suspicions of wrongdoing.

    Petrotel, Romania’s largest and one of the largest oil refineries in Eastern Europe, has been in operation under LUKoil management since 1998.


    Read more: http://sputniknews.com/business/20150715/1024678679.html#ixzz3fzjCJr3Q

    Sponsored content


    Russian Oil and Gas Industry: News - Page 15 Empty Re: Russian Oil and Gas Industry: News

    Post  Sponsored content


      Current date/time is Sat May 18, 2024 2:03 am