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Archive for September 21st, 2006

Russia has outgrown PSA

A Russian environment official has said recently that inspections of the large Sakhalin 2 energy project are to continue.
"We have not checked the stream flows and outside sea areas yet," said Oleg Mitvol, deputy head of the Federal Service for the Oversight of Natural Resources. "Based on preliminary information, these checks can prove that the [...]

Thursday, September 21st, 2006

US Goverment: Russia should respect “rule of law” on oil

The U.S. government hopes Russia and foreign partners, including Exxon Mobil Corp., can reach an agreement on the giant Far East Sakhalin oil project that "respects the rule of law," an Energy Department spokesman said on Thursday.
Russia said on Thursday it would oppose a $4.2 billion cost over-run on Exxon Mobil's project on the Pacific [...]

Thursday, September 21st, 2006

Dutch foreign minister seeks Russia meeting on Sakhalin

Dutch Foreign Minister Bernard Bot is seeking a meeting with his Russian counterpart, Sergey Lavrov, to clarify the reasons why a key Russian environmental permit was withdrawn from a Royal Dutch Shell PLC venture, a spokesman for the Dutch minister said Thursday.
Russia's Ministry of Natural Resources said Monday it was withdrawing its approval for the [...]

Thursday, September 21st, 2006

Sakhalin Energy says permit loss “will be very damaging”

The cancellation of a key environmental permit for a $20-billion oil and gas development led by Royal Dutch Shell PLC "will be very damaging for the project, and for Russia," the operator of the project, Sakhalin Energy Ltd., said in a statement Thursday.

Sakhalin Energy is 55%-owned by Shell.
Russia's Ministry of Natural Resources announced Monday that [...]

Thursday, September 21st, 2006

Russia aims energy broadside at Exxon after Shell

The Russian government has continued its attacks on foreign-led oil projects. After targetting Shell earlier this week, the Kremlin has told Exxon that it will not allow an overspend in the huge Sakhalin-1 oil project which would hit Moscow's profits.
The moves against Exxon and Shell are seen as part of a campaign by the Russian [...]

Thursday, September 21st, 2006

Exxon raises stakes in Russia standoff

Exxon Mobil Corp. said Thursday that the cost of a Russian oil project it is leading has increased by 30 percent, an announcement that could raise the stakes in a growing industry standoff with the Russian government.
An Exxon Mobil spokesman told Dow Jones Newswires that the increase at the Sakhalin-1 project on the Pacific island [...]

Thursday, September 21st, 2006

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