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Posts Tagged ‘Putin’

Shale gas blasts open world energy market

The reason is shale gas — a new and abundant source of natural gas, trapped in rock formations. Oil companies have known about it for decades but always dismissed it because it was too expensive and difficult to extract. In the past few years new technologies that pump water underground to fracture the rock and free the gas have been perfected. The breakthrough has opened a new frontier for the energy industry and turned long-held assumptions about the world’s dwindling supplies on their head. Suddenly, America is awash with gas. Tony Hayward, chief executive of BP, said it had created a “a revolution in the gas fields of North America”.

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Russia invites Shell back to Sakhalin as finances plummet

In a surprise move, Russian prime minister Vladimir Putin invited Royal Dutch Shell to help develop two new oil and gas fields on Sakhalin Island, just three years after the government forced the company to cede majority control in the Sakhalin 2 project to state-controlled group Gazprom.

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Russia to Cooperate With Shell on Sakhalin 3 and 4

June 27 (Bloomberg) — Russia is prepared to cooperate with Royal Dutch Shell Plc, Europe’s largest oil producer, on oil and gas projects in the Russian Far East known as Sakhalin-3 and Sakhalin-4, Russian Prime Minister Vladimir Putin said.

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Putin invites Shell to join Sakhalin 3, 4 projects

MOSCOW, June 27 (Reuters) – Russian Prime Minister Vladimir Putin has invited Royal Dutch Shell (RDSa.L) to participate in Sakhalin-3 and Sakhalin-4 natural gas projects at a meeting with Chief Executive Jeroen van der Veer on Saturday.

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PM Putin to discuss Shell’s Russia expansion with CEO

REUTERS

Fri Jun 26, 2009 8:03am ED

MOSCOW, June 26 (Reuters) – Russia’s Prime Minister Vladimir Putin will meet Royal Dutch Shell’s (RDSa.L) CEO Jeroen van der Veer on Saturday to discuss possibilities for the company’s expansion in Russia, Putin’s spokesman said on Friday.

“They will talk through the perspectives of the company’s activity’s expansion in the Russian Federation,” Dmitry Peskov said. A Shell spokeswoman confirmed that the meeting would take place but declined to comment on its agenda.

(Reporting by Gleb Bryanski, editing by Simon Shuster)

© Thomson Reuters 2009 All rights reserved

REUTERS ARTICLE

Gazprom sways as Russia plays hardball

Gazprom paid $13 billion to buy Sibneft oil company from billionaire Roman Abramovich in 2005, and a year later forced Shell to cede its controlling stake in the Sakhalin II project in Russia’s Far East for $7.5 billion.

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Putin has given us a wake-up call: we’re vulnerable to blackmail

Gazprom under Mr Putin is about control. Gazprom has been moving downstream in Europe, buying up hunks of gas infrastructure and developing joint ventures with European companies all the way “from the well to the end consumers”. It is moving in on Europe’s energy assets unobstructed despite the strict limits – and foul play – that dog foreign investors in Russian oil and gas fields, where Royal Dutch Shell and BP have got badly burnt.

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Gazprom, Once Mighty, Is Reeling

Investors are now fleeing Gazprom stock…

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Russia look to control world’s gas prices

The Russian national anthem blared over the loudspeakers as dozens of oilmen and officials braved the freezing cold to watch the tanker come in, celebrating the launch of year-round oil production from Sakhalin-2, the largest oil and gas project in the world.

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Oil’s Crash Stirs Unrest in Russia as Slump Hits Home

Public panic is one of the Kremlin’s greatest fears.

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