Russia ///

Gazprom Neft begins full-scale hydrocarbon prospecting of pre-Jurassic deposits

Gazprom Neft has begun geological investigations in Paleozoic hydrocarbon deposits in the Tomsk Oblast. Thus far, the complex structure of the pre-Jurassic complex has not been deemed an independent geological prospect, investigations into which demand the modification of traditional prospecting methodologies.

Oil & Gas in the Capitals

Jacques Sapir, Contributing Editor

Hope for improved Russian-U.S. relations has evaporated, following a U.S. congressional vote and retaliation taken by the Russian government.

China deepens oil ties with Russia in $9-billion Rosneft deal

A closely-held Chinese oil company agreed to buy a minority stake in Rosneft PJSC for about $9 billion, deepening energy and political ties with Russia amid increasing tensions with the U.S.

Rosneft, Statoil to move development of North-Komsomolskoye field into the next phase

RN-Exploration and Production LLC, Rosneft subsidiary and Statoil Russia AS, Statoil ASA subsidiary, signed the shareholders and operating agreement at the Eastern Economic Forum. The document is signed with regards to SevKomNeftegaz LLC, an enterprise that will serve as a basis for a future North-Komsomolskoye joint field development.

Russia likely to back extension of OPEC deal as prices stabilize

Russia is likely to back a further extension of the OPEC agreement cutting oil output, judging that it has helped to stabilize the market, the country’s deputy prime minister said.

Gazprom losing hope for dividend boost as ruble hurts profit

Gazprom PJSC’s profit slumped in the last quarter, cooling the prospect of an increased dividend from the world’s largest natural gas producer.

Lukoil launches production facilities at Gissar in Uzbekistan

Lukoil has reached a progress milestone at its southwest Gissar project in Uzbekistan as it successfully launched the main production and process facilities there.

Russian gas link offshoot taps investors as sanctions swirl

German natural gas network operator Gascade Gastransport GmbH is in talks with investors to raise money for a new pipeline that will carry more Russian fuel directly to Europe.

Gazprom Neft to borrow $2 billion in 2018 in bet on lower rates

Gazprom Neft PJSC, the oil arm of Russia’s natural gas exporter, plans to borrow the equivalent of $2 billion next year, seeing crude markets stabilizing and the country’s central bank continuing to lower rates.

Energy Issues

William J. Pike, World Oil

Producers have recently reacted to stagnant oil prices with announcements of cuts in capital spending.

Russian oil giant lends support to Venezuela oil company

Russia’s largest oil company disclosed another advance payment to Venezuela’s state producer after the U.S. sanctioned President Nicolas Maduro on Monday.

Trump's reboot of sanctions ushers in "new normal" for Russia

As Russia hunkers down for “ decades” of U.S. sanctions, the chill in geopolitics is threatening to turn into a deep freeze for an economy retooling after the crash in oil prices.

Lukoil applies new technique of geophysical surveying in Timan-Pechora

Lukoil has successfully completed a 3D seismic survey at Mishvan area in the Nenets Autonomous District. The company used a survey procedure which had never been used in Timan-Pechora Oil and Gas Province before.

Rosneft's RN-Yuganskneftegaz sets new record for daily output since 1986

RN-Yuganskneftegaz, Rosneft’s largest oil-producing enterprise, has set a new record for crude and condensate daily output since 1986 - 184,549 tons per day.

Gazprom Neft begins production at Otdalennaya fields in the Yamalo-Nenets Autonomous Okrug

Gazpromneft-Noyabrskneftegaz, a subsidiary of Gazprom Neft, has completed the drilling and testing of its first production well at the Zapadno-Chatylkinskoye field.

Saipem seen getting work in Novatek's Arctic LNG 2 project

Italy's Saipem is likely to get a sub-contractor role in a new project to produce liquefied natural gas (LNG) in the Arctic by Russia's Novatek, one of Novatek's partners said.

Exxon to challenge U.S. Treasury's fine for violation of Russia sanctions

Exxon Mobil Corp. says it is legally challenging a $2-million fine assessed against it by the U.S. Treasury Department for “egregious” violations of sanctions against Russia when now-Secretary of State Rex Tillerson was chief executive.

OPEC, Russia to stand pat on oil deal even as glut persists

OPEC and Russia’s plan to clear the global oil glut hasn’t worked as they hoped, but there’s little expectation the world’s largest producers will act more aggressively when they meet this weekend.

U.S. fines Exxon Mobil over violations of Russia sanctions

The U.S. Treasury Department on Thursday said it was fining global oil company Exxon Mobil Corp. $2 million for violating sanctions on Russia in May 2014.

CGG donates full software suite to Heriot-Watt’s Petroleum Learning Center in Russia

CGG GeoSoftware has donated a full suite of its software technologies to the Petroleum Learning Center, a joint educational project of Tomsk Polytechnic University in Russia and Heriot-Watt University in Scotland. The donation includes training licenses for each of the software solutions (HampsonRussell, Jason, PowerLog, EarthModel FT, InsightEarth and VelPro) in its product portfolio.