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Kovytka Deal Close to End Print E-mail

April 20, 2008

Kovytka Deal Close to End

Russian Gazprom is reported to be close the acquisition of the Kovykta gas condensate field from TNK-BP before the end of April. Russian giant has already received Deutsche Bank’s approval to borrow over $1 billion to finance the transaction.

 
Two Russian Oil Companies Are Warned Print E-mail

April 18, 2008

Two Russian Oil Companies Are Warned

The notice of the possible preschedule termination of the license given to the oil company OOO "Magma" in case it is failed to eliminate infringements within 12 months, the Special Commission of the Russian Subsoil Agency sais. The company operates in Hanty-Mansi area. During the last inspection it was found that Magma does not carry out design parameters on recycling passing oil gas. Besides it exceeded design volume of an oil recovery in 2005 on 66,7 thousand tons (more than on 20 %).

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Green Light to Gazprom to Develop Chayanda Print E-mail

April 14, 2008

Green Light to Gazprom to Develop Chayanda

According to the official information, the Russian government decided to give a green light to Gazprom for development the Chayanda oil and gas condensate field (Yakutia).Gazprom will pay 8-10 billion roubles as compensation for the license.

 
Gazprom and Slovenia Discuss South Stream Print E-mail

April 13, 2008

Gazprom and Slovenia Discuss South Stream

Chairman of Gazprom's Management Committee Alexei Miller has held talks with Slovenia's President Danilo Turk on the possibility of the republic's participation in the South Stream gas pipeline project, the Russian energy holding's press office reported today. The matter was discussed during a working visit of a Russian delegation to Slovenia, the current holder of the EU presidency. During the meeting, the parties considered the prospects for cooperation in the gas industry and confirmed their interest in the development of long-term partnership between Russia and Slovenia.

 
Competition for Udokanskoye Copper Deposit to be Hot Print E-mail

April 09, 2008

Competition for Udokanskoye Copper Deposit to be Hot

Minister of Natural Resources of the Russian Federation Y. Trutnev commissioned the Russian Federal Agency for Subsoil Use (Rosnedra) to complete work-out of conditions to compete on the Udokanskoye copper deposit (Chita area) within a week. Official information regarding the tender will be announced within a week as well. According to Trutnev, the current legislation provides an opportunity of granting of deposit sites through competition, provisions of law are enough "for a regulation of the given procedure". Moreover the conditions of the coming tender will be supplemented with terms of the mined raw material processing on territory of the Russian Federation.

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