Gas industry
Secret expenditures in Russia's budget have significantly increased since 2003, with a reported surge of 440 billion rubles. This rise in secret spending has further fueled concerns about corruption and lack of transparency in government expenditures, affecting sectors such as culture, sport, education, and housing. Prime Minister Mikhail
Gas industry
The Russian government has suspended work at the Sakhalin-2 offshore oil and gas field, operated by a consortium led by Shell, Mitsubishi, and Mitsui, under a production-sharing agreement (PSA). The move is worrying, as it may signal a broader assault on PSAs, potentially threatening other major foreign-run projects in Russia.
Gas industry
Russian state bank Vneshtorgbank has purchased a 4.5 percent to 4.8 percent stake in European Aeronautic Defense & Space (EADS), the parent company of Airbus, according to a report by Russian business newspaper Vedomosti. The purchase has sent EADS stock soaring, with shares rising 34 cents to close
Gas industry
Gazprom, the Russian gas giant, and E.ON Ruhrgas AG, a German energy company, have signed agreements to extend current gas contracts by 15 years and to supply additional gas through the North European Gas Pipeline. The extended contracts, which will run from 2020 to 2035, will see annual gas
Gas industry
The Russian state's move to push Yukos, the country's former leading oil producer, into bankruptcy has set the stage for a final division of Yukos's spoils, with the most valuable assets likely reserved for state oil firms. The Yukos creditors committee, dominated by representatives
Gas industry
The Russian stock market saw a slight increase on July 24, with the benchmark RTS index growing 0.64% to 1499.68 points. Unified Energy System (UES) led the growth, with its shares increasing by 4.9% to 18.982 rubles on the Moscow Interbank Currency Exchange (MICEX). However, Yukos
Gas industry
The Russian stock market displayed a mixed performance on Friday, with Norilsk, Rostelecom, and Sberbank experiencing gains, while the rest of the blue chips, led by Gazprom, declined due to a disappointing financial report. As the market awaited the release of new unemployment figures from the US, investor confidence was
Gas industry
Gazprom, a Russian state-owned natural gas company, is set to construct two pipelines to transport natural gas from Russia to China, with an estimated annual capacity of 68 billion cubic meters. According to Alexei Miller, Chairman of the management committee of Gazprom, the western pipeline, which will transmit gas from
Gas industry
The Russian stock market has been on the rise, with gains posted for the third consecutive session. The benchmark RTS stock market index grew to around 1450 points on Thursday, driven by oil stocks, including Gazprom (RTS: GAZP) and MMC Norilsk Nickel (RTS: GMKN). The market's growth is
Gas industry
Russia's state oil company, Rosneft, is seeking to raise at least $10 billion in a mid-July IPO in London and Moscow, placing 12.5-16% of its stock in private hands. The company's high valuation, significantly higher than that of Russia's long-established leading oil firm,
Gas industry
Gazprom, Russia's largest gas company, has long been closely tied to President Vladimir Putin's decision-making process. The company's strategic direction and partnership deals with international partners have been heavily influenced by Putin's interests and approval. A new research report by Research and
Gas industry
ConocoPhillips is among five companies shortlisted to develop the Shtokman field project, a multibillion-dollar natural gas initiative in the Barents Sea. The company's CEO, James Mulva, expressed enthusiasm for participating in the project, citing Gazprom's interest in moving forward by May. ConocoPhillips already has operations in
