Gas industry
Auction for the major oil acreages in the northern Timan-Pechora oil province, Trebs and Titov, might be cancelled for the second year in a row, according to Lukoil's Vice President Leonid Fedun. The reason behind this decision lies in the heavy debt obligations of state-owned companies Gazprom and
Gas industry
The Russian stock market experienced a significant fall on Tuesday, with the benchmark RTS index dropping 1.83% to 1253.58 and the MICEX index falling 2.22% to 1124.79. The decline was led by Sberbank, which lost 6% to 43,100 rubles a share on the MICEX and
Gas industry
Russia and Ukraine resolved their dispute over gas prices with a five-year deal on gas deliveries, ending a bitter pricing dispute that had left many European countries scrambling for alternative energy sources. The agreement was reached after Ukraine's gas company, Naftogaz Ukrainy, had been resisting Gazprom's
Gas industry
As Ukraine's economic recovery from the Orange Revolution hinges on Russian natural gas supplies, President Vladimir Putin's government has unexpectedly cut off the country's westbound pipes, citing a dispute over pricing and transit terms that has become a baldly political conflict. This move has
Gas industry
The European Commission, the executive arm of the European Union, is taking steps to mitigate a potential disruption to natural gas supplies from Russia. The move comes after a dispute between Russia and Ukraine over gas prices, with Gazprom threatening to cut off supplies to Ukraine from January 1 unless
Gas industry
The Russian stock market, which plummeted to a low last year after the re-nationalisation of Yukos, has seen a significant rally this year following the liberalisation of Gazprom's shares. President Vladimir Putin's administration has taken steps to increase foreign investor participation in the Russian state energy
Gas industry
The Russian stock market dipped on Friday, despite reaching a new high earlier in the week, as investors took profit on falling oil prices. The benchmark RTS stock market index fell 0.21% to 1126.09, while the MICEX dropped 0.43% to 1015.95. Sberbank shares continued to lead
Gas industry
Critics argue that the bill governing non-governmental organizations (NGOs) in Russia does not contribute to civil society development, but rather places excessive control and may lead to corruption. Sergei Tsyplakov from Greenpeace Russia stated, "The bill's authors do not want a strong civil society in Russia which
Gas industry
Gerhard Schroder's appointment to the board of North European Gas Pipeline, a consortium led by Gazprom, has sparked controversy over the former German Chancellor's conduct. However, what is more significant than Schroder's personal conduct is what his appointment says about Gazprom's growing
Gas industry
Former German Chancellor Gerhard Schroeder has accepted a top job on a Russian-German gas pipeline project that he helped set up in his final weeks in office, sparking accusations of "disgusting" sleaze. The Bundesrat, Germany's upper house of parliament, held a special session to debate the
Gas industry
Gazprom, the Russian energy giant, is reportedly preparing to bid for rights to explore and develop offshore fields in Turkmenistan's Caspian sector. According to Alexander Ryazanov, Gazprom's deputy CEO, the company has identified several promising prospects and is in the process of acquiring the necessary paperwork.
Gas industry
Russia and Germany are stepping up cooperation on energy projects as a gateway to Western Europe's important natural gas markets. Gazprom, Russia's largest gas producer, signed a memorandum of understanding with BASF, a German chemicals group, allowing BASF's affiliate Wintershall to acquire a significant
