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Archive for November 10th, 2006

Compromise sought over Sakhalin-2

Russia's Industry and Energy Ministry and Shell, the majority shareholder of Sakhalin-2, are seeking a compromise with regard to the project, Deputy Minister Andrei Dementyev said.
He reiterated that the government was not content with the proposed rise in costs of the Sakhalin-2 project.

Friday, November 10th, 2006

Equity and inequity in Sakhalin 1

Energy security is believed to be synonymous with acquisition of overseas oil equity, a strategy aggressively followed by importers like China, Japan and India. But if developments in Sakhalin 1 are any indication, how good is overseas oil equity, either as an energy security measure or even as a sound commercial proposition?
Just one year after [...]

Friday, November 10th, 2006

Shell’s Sakhalin deal under threat

Russia may sue Royal Dutch Shell's Sakhalin group in international courts to claim billions of dollars in damages or even scrap the $22 billion (11.5 billion pounds) production sharing deal, a Russian official said on Friday.
Oleg Mitvol, deputy head of environmental agency RosPrirodNadzor, said his agency had received a plan from Sakhalin-2 on how the [...]

Friday, November 10th, 2006

$300,000 in Sakhalin II environmental damage

Contractors in the Sakhalin II oil and gas project in Russia's Far East have paid the first two tranches, worth over eight million rubles ($300,000), in compensation for damage inflicted on forests, the environmental watchdog said Friday.
The multibillion-dollar Sakhalin II project has been accused of inflicting large-scale ecological damage on Sakhalin Island, including illegal deforestation, [...]

Friday, November 10th, 2006

Shell declines comment on Sakhalin legal challenge

Royal Dutch Shell Plc declined to comment on Friday on comments from a Russian environment official that his agency might scrap Shell's contract to develop the $22 billion Sakhalin-2 project and claim billions of dollars in damages.

Friday, November 10th, 2006

Rosneft offers to boost oil sales to China but no word on pipeline

Russia's biggest oil exporter to China said Friday it is ready to boost supplies by up to 65 percent next year, but there was no word of progress on a planned pipeline to deliver Siberian crude as Russia's prime minister visited Beijing.
State-owned OAO Rosneft is ready to boost exports of crude oil and oil products [...]

Friday, November 10th, 2006

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