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Posts on ‘October 20th, 2006’

Reuters: EU vows united front to press Putin on energy

Fri Oct 20, 2006 1:16 PM ET By Rex Merrifield and Ingrid Melander LAHTI, Finland (Reuters) – European leaders agreed on Friday to deliver a blunt message to President Vladimir Putin that Russia must give European firms more chance to exploit its huge energy resources or risk an investor exodus. Putin arrived as guest at […]

Bloomberg: Putin to Spurn EU Demands for More Access to Oil, Gas (Update5)

By Sebastian Alison Oct. 20 (Bloomberg) — President Vladimir Putin is likely to defy calls to give European companies more access to the Russian energy market, using state control of the oil and gas industry to boost Russia’s economic clout. European Union leaders said they will push Putin at a summit in Lahti, Finland, tonight […]

RIA Novosti: Sakhalin II expert review to be ready by Dec. – energy ministry

20:21 | 20/ 10/ 2006 MOSCOW REGION, October 20 (RIA Novosti) – A new expert review that envisions increased spending on the giant Sakhalin II project will be ready by December, a deputy Russian industry and energy minister said Friday. “The term for the state expert review to be implemented is the fourth quarter of […]

Reuters: BP and Shell to end record earnings run

Fri Oct 20, 2006 10:17 AM BST By Tom Bergin LONDON (Reuters) – BP and Royal Dutch Shell are expected to report a fall in underlying third-quarter profits in the week ahead, ending a three year run of record earnings on the back of rising oil prices. Analysts believe higher oil prices quarter will fail […]

AFX News Limited: Shell-led group pledges to urgently address remaining Sakhalin-2 issues

10.20.2006 LONDON (AFX) – Royal Dutch Shell PLC-led Sakhalin Energy has assured the Russian government it will urgently address the remaining environmental issues that were raised about the 20 bln usd Sakhalin-2 gas project. Ian Craig, chief executive of Sakhalin Energy, said in a letter to Russian Minister for Natural Resources Yuri Trutnev that it […]

MosNews: Environmental Watchdog Seeks to Annul Licenses of State Oil Company Rosneft

Created: 20.10.2006 12:23 MSK (GMT +3), Updated: 12:41 MSK Russia’s environmental protection agency Rosprirodnadzor has submitted the documents on revoking licenses held by the Sakhalin branch of state-controlled oil company Rosneft. This information was reported by the country’s Natural Resources Ministry on Thursday, Oct. 19. The ministry said serious violations had been revealed during inspections […]

International Herald Tribune: Russian official says Energy Ministry in talks on changing business model at Sakhalin-2

Fulll headline: International Herald Tribune: Reports: Russian official says Energy Ministry in talks on changing business model at Sakhalin-2  The Associated Press Published: October 20, 2006   MOSCOW Russia’s Industry and Energy Ministry is in talks with investors in the Sakhalin-2 liquefied natural gas project on changing the business model of the giant endeavor after costs […]

RIA Novosti: Sakhalin II project becoming less beneficial for Russia

14:16 | 20/ 10/ 2006    MOSCOW, October 20 (RIA Novosti) – The giant Sakhalin II oil and gas project on Russia’s largest Far East island is becoming less effective for Russia, and raises doubt over product sharing agreements in the country, a member of parliament’s upper house said Friday. Devised in the 1990s when […]

AFX News Limited: Sakhalin-2 development cost estimate hiked, business model may change – minister

10.20.2006, 04:58 AM    MOSCOW (AFX) – Sakhalin Energy, the operator of the Sakhalin-2 hydrocarbons development, has raised its estimate of the cost of the project to 21.9 bln usd from 9.9 bln, Interfax news agency quoted Deputy Industry and Energy Minister Andrei Dementyev as saying. The ministry is now in talks with Sakhalin’s investors […]

Interfax (Russia): Trutnev not ruling out suspension of Sakhalin-2 project

MOSCOW. Oct 20 (Interfax) – Russian Natural Resources Minister Yury Trutnev said he did not rule out the possibility of the Sakhalin-2 hydrocarbons project being suspended. “The Russian Natural Resources Ministry is responsible for the observance of environmental legislation. If Russian laws are going to be trampled on and if the environment is going to […]

AFX News: Sakhalin-2 must comply with clean-up laws or face shutdown – minister UPDATE

Friday, 20th October 2006 09:25 MOSCOW (AFX) – The giant Sakhalin-2 oil and gas project must comply with Russian environmental laws or face being shut down, said Natural Resources Minister Yury Trutnev. ‘If the Russian Federation’s laws are going to be violated, if damage is done to the environment, we will take measures to stop […]