Russia Could be Trigger for $200 Oil and Global Recession
Medvedev
Higher oil could lead to a worldwide economic collapse, says top analyst at Germany’s largest bank
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Russians are menacing to BP, says Mandelson
EU officials believe that the Russian shareholders will eventually sell their stake to Gazprom or another state-run entity. Their battle against BP is a ruthless attempt to drive up the multibillion-dollar price of any deal, they say.
LNG project on Yamal could be structured as Shtokman – Gazprom
The LNG plant on Yamal is planned at the North and South Tambeiskoye fields, not at Kharasaveiskoye (whose gas is earmarked for transport on the Unified Gas Supply System). Project implementation "assumes participation of foreign companies, which might include Shell," he said.
Possible way out of a minefield
The deals to oust Royal Dutch Shell as the majority shareholder in the Sakhalin 2 project, and to displace TNK-BP from the Kovykta gas field, both favoured Gazprom. Signs of the changing attitude were apparent at the St Petersburg Economic Forum last weekend. One Russian government official said: "For BP, it is it the best scenario if Alfa sells out to Gazprom.
BP vents its frustration on Russian partners
BP chairman Peter Sutherland warned that unless President Dmitry Medvedev backed up his promises to restore "the rule of law", Western companies would likely turn their back on the country...
Boardroom Brawl Roils BP’s Russia Venture
In 2006, environmental regulators threatened to shut down a vast oil and gas project off the Far East island of Sakhalin operated by Royal Dutch Shell PLC. Shell was forced to sell half its stake to state-owned Gazprom.
Benchmark Cruel: $250?
Alexei Miller spoke at an OAO Gazprom presentation in which he also predicted the gas giant would be the world's biggest company by market value within seven to 10 years, with a capitalization of $1 trillion. Its current market cap is around $360 billion; Exxon Mobil Corp. is the current market-cap leader at about $463 billion.
Senior Shell executive likened Russian take-over of Sakhalin-2 to eating “a polonium sandwich”
Shell was forced to sell part of its stake in a $20bn (13bn, £10bn) energy project in Sakhalin to state-owned Gazprom - after months of pressure and investigations by the Russian environmental regulatory agency. A senior Shell executive likened the experience to eating "a polonium sandwich".
MEMO FROM ST. PETERSBURG
ST. PETERSBURG, Russia The lineup told it all about Russias importance today. There, on one stage, sat the leaders of BP, Royal Dutch Shell, Chevron, Exxon Mobil, ConocoPhillips, Total, Schlumberger and Dow Chemical, as well as the chairman of the Russian energy giant Gazprom and the president of the Russian oil company Lukoil.
Gazprom Wants to Build Pipeline From Alaska
Royal Dutch Shell and Gazprom signed a preliminary agreement Saturday to study liquefied-natural-gas projects on the Yamal Peninsula, Bloomberg reported. The companies may also consider LNG projects in third countries, Shell CEO Jeroen van der Veer told reporters at the St. Petersburg International Economic Forum.
Kremlin leaves BP shaken, but it won’t stir
There have also been allegations about visa breaches and infringements of corporate law that remind observers of the campaign waged two years ago against Shell, which reluctantly surrendered control of a huge oil project on the Russian island of Sakhalin.
Russia Probes BP Exec in Attempt to Reclaim Energy Sector
Royal Dutch Shell PLC (RDS.A) was forced to relinquish control of its Sakhalin-2 oil and gas project to OAO Gazprom (OGZPY.PK) for $7.45 billion when the Russian government threatened to block investment plans by canceling building permits on environmental grounds. And just last year, TNK-BP was talked into selling its 62.8% stake in one of the worlds largest gas fields, the Kovytkta field, to Gazprom, after Russian authorities threatened to revoke the companys license to develop it.
The risks of Russia
There is no sign Russia is going to be a safer place to do business in the near future. For now, investors should be aware the Russian risk premium is here to stay. Russians should be aware that, ultimately, it will be they who will pay it.
Hayward faces test of mettle over TNK-BP
The struggle for control of TNK-BP is the first big test for Tony Hayward's leadership of BP.
BP Says It Is Committed to Russian Venture
Formed in 2003, TNK-BP has netted BP huge gains and accounts for about a fourth of the companys global production. As oil prices have spiked, however, the Kremlin has sought to take back lucrative energy assets. The problems plaguing the venture appear to many as an attempt to squeeze the companys British partners out of the country.
Fresh pressure on BP as its chief in Russia faces inquiry
At BP's headquarters in St James's Square, there is a distinct sense that, after months of scattered but sustained disruptions to its vital Russian business, the end game is approaching.
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