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Archive for October 24th, 2006

Vice PM: Existing PSA agreements will remain in force

A Russian deputy prime minister said Tuesday that existing production-sharing agreements should not be reviewed.
Russia's authorities have been stepping up pressure on oil producers in recent months, which some experts feared was the Kremlin's attempt to review production-sharing agreements and revoke licenses to increase state control over the energy sector.
"I do not think accords concluded [...]

Tuesday, October 24th, 2006

Minister: six months to update licensing agreements

Russia's natural resources minister said Tuesday the agency for mineral resources and oil and gas companies will be given six months to update licensing agreements.
"We simply propose that companies unilaterally specify and update data," Yury Trutnev said.
Russia's authorities have been stepping up pressure in recent months on oil projects developed by foreign and domestic companies, [...]

Tuesday, October 24th, 2006

Prosecutors say agencies fail to enforce environmental laws

Russia's environmental protection agencies are failing to fulfill their responsibilities to enforce environmental legislation, the first deputy prosecutor general said Tuesday.
"Violations of environmental legislation have become widespread," Igor Buksman said adding that Russia's Federal Agency for the Management of Mineral Resources, the Federal Service for the Oversight of Natural Resources and the Federal Service for [...]

Tuesday, October 24th, 2006

Russia’s Natural Resources Ministry seeks no license revocations

Russia's Natural Resources Ministry does not seek to revoke licenses of oil companies violating environmental legislation in the country, but favors economic sanctions, a senior ministry official said Tuesday.
"Licenses should be revoked only in the most flagrant cases, but in other cases economic sanctions should be imposed on negligent producers," Sergei Fyodorov, the head of [...]

Tuesday, October 24th, 2006

Shell says no plans to sell stake in Sakhalin II project

Shell does not intend to sell its stake in Sakhalin Energy, the operator of the Sakhalin II oil and gas project in Russia's Far East, the head of Shell Russia said Tuesday.
The Anglo-Dutch oil major has come under attack from Russian authorities over environmental violations on the country's largest island.
Christopher Finlayson said there were no [...]

Tuesday, October 24th, 2006

Shell: Willing to take part in Shtokman project as contractor

Shell is willing to take part in the development of Russia's Shtokman gas field as a contractor, the company's President John Hofmeister told ITAR-TASS in an interview.
"We are always open to cooperation with Gazprom and I am sure that if we are invited to participate in this project we will be able to make interesting [...]

Tuesday, October 24th, 2006

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