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Archive for January, 2007

Putin backs Sakhalin-III deal

In a major boost to India's efforts on energy security, President Putin has assured his support for ONGC Videsh Ltd (OVL) taking 20 per cent stake in the Sakhalin-III project in Russia.
India has already invested $2.7 billion in the Sakhalin I oil fields to take 20 per cent stake in the project. India will get [...]

Friday, January 26th, 2007

Shell CEO plays down impact of private Sakhalin deal

Royal Dutch Shell PLC Chief Executive Jeroen van der Veer said Thursday that a confidential deal struck between shareholders in the troubled and expensive Sakhalin-2 oil and gas project and the Russian government may not impact the company's bottom line as much as some think.
Speaking on the sidelines of the World Economic Forum here, Van [...]

Friday, January 26th, 2007

Indian oil companies may get stake in Sakhalin-III

India and Russia are set to script a new energy chapter. The oil companies of the two fast-growing countries are working on a strategy that would give Indian companies a bigger stake in Russia's vast oil reserves while their Russian counterparts get into the downstream refining and retailing segment in India.
And, if initial indications are [...]

Friday, January 26th, 2007

ONGC signs pact with Rosneft

Oil & Natural Gas Corp, India's largest explorer, and OAO Rosneft, Russia's state oil company, on Thursday signed an agreement to jointly bid for exploration and refining projects.
ONGC Chairman and Managing Director R S Sharma and Rosneft president Sergey Bogdanchikov signed a Memorandum of Understanding to jointly study and bid for oil and gas exploration [...]

Friday, January 26th, 2007

Russia’s Continental Divide

Russian President Vladimir V. Putin is exploring a plan to cede control of the vast gas and oil fields on the Russian continental shelf to state-controlled companies Gazprom and Rosneft.
If a proposal now under discussion at the Kremlin becomes law, it would prohibit foreign companies like Exxon Mobil and Chevron from acquiring majority stakes in [...]

Friday, January 26th, 2007

Russia backs Indian interest in Sakhalin-III

Russia backed India's interest in the Sakhalin-III oil exploration block, though no official offer has been made yet.
India is keen on bagging the field, off Russia's Pacific coast, and there has been a forward movement in the talks during the ongoing visit of Russian President Vladimir Putin on this issue, well-placed sources said.
The issue of [...]

Friday, January 26th, 2007

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