Gazprom

Gazprom increases 2017 investment program to finance major projects

Moscow - Muslimchronicle

Gazprom said on Wednesday its board had decided to increase its investment program for 2017 by 217.3 billion roubles (SR14.21 billion) to 1.13 trillion roubles, citing the need to boost financing of big projects. The Russian gas company usually raises its investments program during the course of the year and has been criticized by analysts for incurring increased costs. GazpromRead more

Germany claims US harming EU firms with Russia sanctions

Berlin - AFP

Germany on Friday accused Washington of hurting European power companies through its new sanctions against Russia that target the planned Nord Stream 2 gas pipeline to Europe. The new measures, approved by the US Senate on Thursday, include a threat to penalise companies that provide "goods, services, technology, information or support" for the construction of Russian energy export pipelines. TheRead more

Iran okays 29 companies for oil and gas projects

Tehran - AFP

Iran has published a list of 29 major companies from Europe and Asia approved to bid for oil and gas projects after the lifting of sanctions over its nuclear programme. The European companies on the list include Anglo-Dutch giant Shell, Italy's ENI, France's Total, Russia's Gazprom and Lukoil, and Schlumberger of the Netherlands. Among those from Asia were China's CNPCRead more

Iran signs two oil deals with Russia's Gazprom

Tehran - AFP

Iran signed preliminary agreements with Russia's Gazprom on Tuesday to develop two major oil fields in the latest of a flurry of deals with foreign firms, local media reported. The deals open the way for Gazprom to carry out studies at the Cheshmekosh and Changouleh fields near the border with Iraq, according to the Shana news agency, which is linkedRead more

Russian Oil Output Rises to 11.11 Million Barrels Per Day in September

Moscow - QNA

Russian oil output jumped by almost 4% in September from the previous month to 11.11 million barrels per day (mbp), a new record-high, as companies ramped up drilling amid improved oil prices, the Russian Energy Ministry data showed on Sunday. In tones, Russian oil output reached 45.483 million versus 45.309 million in August. Last month, oil output in millionRead more

Gazprom discovers new gas deposit in Sea of Okhotsk

Moscow - Arab Today

Gazprom said it had discovered a new gas deposit during exploration at the Kirinskoye field in the Sea of Okhotsk near Russia’s Sakhalin island. The field is crucial for Gazprom’s plans to raise liquefied gas production at its Sakhalin-2 plant on the island. It has not disclosed the reserves of the newly discovered deposit. Shell, which also has a stakeRead more

Rosneft’s Q2 earnings drop 33%

Moscow - Arab Today

Russian oil giant Rosneft said that profits in the second quarter had tumbled by 33 percent from a year earlier on the back of low oil prices. The company reported a second-quarter net profit of 89 billion rubles ($1.3 billion), a figure that represents roughly two thirds of its profit during the same period last year. Rosneft’s total revenue sufferedRead more

Baltic Sea gas pipeline partners withdraw merger bid in Poland

Paris - AFP

Russian energy giant Gazprom and its European partners on Friday announced their withdrawal of an application for merger clearance in Poland, as they vowed the project to build a pipeline under the Baltic Sea would continue as planned. Gazprom, Anglo-Dutch group Shell, Austrian OMV and German Uniper and Wintershall plan to build a pipeline formally known as Nord Stream 2,Read more

Gazprom reports net profit down

Moscow - AFP

Russian gas giant Gazprom on Wednesday announced a five percent fall in net profits in the first quarter of this year, as lower gas prices meant it failed to cover growing expenses. From January to March the state-run behemoth registered a drop in profits to 362 billion rubles ($5.6 billion, 5 billion euros) from 382 billion rubles in the sameRead more

Gazprom counts on big growth in Chinese gas demand

Moscow - Arab Today

Russia’s top gas producer Gazprom expects China’s gas consumption to more than double, deputy CEO Alexander Medvedev said, suggesting the company is still counting on robust growth in demand in China even as the economy slows. As part of Russia’s strategic shift eastwards prompted by rows with the West, Gazprom will supply China with gas via the Power of SiberiaRead more