Yuzno.com

The Sakhalin project in far-eastern Russia is one of OVL’s successful overseas ventures.
THE ONGC Videsh Limited (OVL), a subsidiary whose primary business is to bid for oil and gas acreages abroad and produce hydrocarbons, is going places. According to R.S. Butola, Managing Director, OVL, the company contributes 8 million tonnes of oil and oil-equivalent […]

The production of oil and gas increased 2.5 times in Sakhalin in 2007 as against 2006. In 2007, 14.853 million tonnes of oil (6.162 million tonnes in 2006) and 6.409 billion cubic metres of gas (2.186 billion cubic metres in 2006) were produced. This was reported at a meeting of the administration of the Sakhalin […]

Marubeni, a Japanese trading company, bought greenhouse-gas emission credits from Gazprom to capitalize on growing demand for the right to pollute air in Japan.
The transfer of the credit will be completed in December, Marubeni said Friday in a statement on its web site. Marubeni and Gazprom’s trading arm also agreed to find ways to implement […]

Nippon Oil Corp., Japan’s largest refiner, signed a long-term contract to buy Russian oil from Sakhalin island, the first such agreement by the country’s refiners in a drive to diversify supply from the Middle East.
Nippon Oil will purchase one vessel of oil, or 720,000 barrels, every quarter from the $13-billion Sakhalin-1 project starting this […]

Sakhalin-1 operator ExxonMobil and Chinese CNPC proceed with the talks on potential gas supplies under the project, Interfax reported with reference to Robert Olsen, who is in charge of ExxonMobil production in Europe.
The preliminary agreement on supplying gas to China was made with CNPC in 2002, the official reminded, specifying that today’s purpose is […]

Exxon Mobil believes Russia should allow the U.S. oil major to export gas from its Sakhalin-1 project off Russia’s east coast because, contrary to Gazprom’s claims, the gas is not needed for the local market.
“We are currently supplying the local market and fulfilling all of the local market’s capacity needs,” Exxon’s head of oil […]