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Archive for November, 2006

Russian auditor expects Shell to change PSA terms

Russian state auditor Sergei Abramov said on Monday he expects the Shell-led Sakhalin-2 project to accept a change in the terms of its production sharing agreement to bring a compromise deal soon.
"We are expecting the operator to show goodwill. We want the operator to take the initiative to improve the terms for the Russian Federation. [...]

Monday, November 27th, 2006

Complex plan on elimination of unexpected oil spills prepared

Overall, 350 liters of oil had been spilled at all objects of the Sakhalin Energy Company (the project's operator) since the start of oil production under the Sakhalin 2 project till present whereas the whole amount of produced oil totaled 72mln of barrels (i.e. about one liter of spilled oil per 32,800,000 liters of produced [...]

Sunday, November 26th, 2006

Japan regrets for RF’s decision to impose 8% pipe import duty

Japan has expressed regret for the Russian authorities' decision to impose an eight-percent duty for the import of Japan-made steel pipes for pipelines.
Russia decided to take this protective step as of December 18 for three years to suppress a vigorous growth of pipe import from Japan.
"Japan expresses deep regret for Russia's decision to take such [...]

Saturday, November 25th, 2006

Russian senator says Shell’s Sakhalin-2 to proceed

Royal Dutch Shell's giant Sakhalin-2 project will go ahead, a Russian senator said on Friday, reacting to attempts by the state environmental watchdog to revoke the venture's licences on ecological grounds.
Nikolai Kosarev, deputy head of the natural resources and environment commission at the Federation Council, the upper house of parliament, said the situation should not [...]

Saturday, November 25th, 2006

BP CEO meets potential buyers of Russian stake in TNK-BP

John Browne, British Petroleum's CEO, yesterday met two potential buyers of the Russian stake in the TNK-BP joint venture - Gazprom CEO Alexei Miller and Rosneft President Sergei Bogdanchikov.
Browne and Miller discussed "joint projects and interaction on trade in liquefied natural gas and agreed to meet again in the first quarter of 2007," a Gazprom [...]

Friday, November 24th, 2006

Sakhalin Energy to spend US$400 million in Sakhalin’s infrastructure modernization

From the commencement of 'Sakhalin-2' Project the rate of unemployment in the Sakhalin region decreased to 1%.
By the end of 2005, 17,000 people, 70% of which are Russian citizens have been involved in the work on the project.
Since the startup of the full-scale production 'Sakhalin Energy' (operator of Sakhalin-2 Project) and contractors will be providing [...]

Friday, November 24th, 2006

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