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Archive for December 28th, 2006

Russia Shows Sakhalin Partners Who The Boss Is

It sounds as though Royal Dutch/Shell, Mitsui and Mitsubishi the three companies developing the Sakhalin-2 energy site in the eastern part of Russia, have been thoroughly humiliated by the Kremlin.
The companies will have to shoulder $3.6 billion in new costs to develop the Sakhalin-2 oil and gas project, the world's largest energy development, thereby lowering [...]

Thursday, December 28th, 2006

Russia adds insult to injury on Sakhalin-2

Royal Dutch Shell and its two Japanese partners are to be made to share the burden of the huge cost overruns of Sakhalin-2, it emerged on Thursday, in news that cast a less favourable light on their deal to cede control of the project to Gazprom.
Just days after confirming that Russia would pay the companies [...]

Thursday, December 28th, 2006

Moscow gets further concession on Sakhalin-2

The Russian government has won a further concession from the foreign partners at the world's largest combined oil and natural gas field, known as Sakhalin-2, which is being developed in Russia's remote Far East.
Last week, Gazprom, the Russian energy monopoly, took majority control of the project when the foreign developers, led by Royal Dutch Shell, [...]

Thursday, December 28th, 2006

Shell Signs Secret Protocol on Sakhalin Project with Russian Government

Royal Dutch/Shell signed a secret protocol with the Russian government as part of its deal to sell half of the Sakhalin-2 project to Gazprom, allowing Shell to boost spending but not as much as it wanted, Russian business daily Vedomosti reported on Thursday, Dec. 28.
Shell is now allowed to boost spending in the giant Sakhalin [...]

Thursday, December 28th, 2006

Gazprom saves $3.6 billion on Sakhalin II

New details have emerged about the deal between Gazprom, Shell, Mitsubishi and Mitsui. The government, it turns out, stipulated that the foreign companies invest $3.6 billion in Sakhalin II, and no compensation is provided for under the production-sharing agreement. Experts say this actually reduces the cost of the deal.

Thursday, December 28th, 2006

Gazprom Plans to Pay for Sakhalin Stake by April

OAO Gazprom, Russia's natural-gas export monopoly, will pay Royal Dutch Shell Plc and two Japanese companies $7.45 billion in cash by April for half of the Sakhalin-2 oil and gas project off Russia's east coast, Deputy Chief Executive Officer Alexander Medvedev said.
The payments will be made by the end of the first quarter, Medvedev told [...]

Thursday, December 28th, 2006

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