Chinese Seismic Vessel Seen Moving Near Malaysia Amid Rising South China Sea Tensions
Transparency Initiative (AMTI) said China has maintained a near-constant presence in Luconia Shoals, off the coast of Malaysia’s Sarawak state on Borneo.Last year, at least one China Coast Guard vessel spent weeks in waters close to an oil rig in a Vietnamese oil block, operated by Russia's Rosneft, while the Haiyang Dizhi 8 conducted suspected oil exploration surveys in Vietnam's EEZ. (Reporting by Rozanna Latiff in Kuala Lumpur and James Pearson in Hanoi; Additional reporting by Joseph Sipalan and A. Ananthalakshmi in Kuala Lumpur, Ain Bandial in Bandar Seri Begawan, and Judy Hua
U.S. to send envoy to Saudi Arabia to Stabilize Oil Prices
it the world's largest producer. Since 2016, as OPEC restrained production, the United States has taken market share from Saudi Arabia, Russia and other nations.Russia has been slower to come on board with OPEC's continued efforts to bolster prices, and the country's largest oil producer, Rosneft, has been an opponent of the deal with OPEC to cut supply. Units of Rosneft, and its managers, were recently sanctioned by the United States due to its trade relationship with Venezuela.Trump administration officials will continue to reduce global oil output with sanctions on what the officials
Norway to Spend More Looking for O&G Near Russian Border
in an area which is not yet opened up for petroleum exploration and development.A Reuters source familiar with the decision said the areas the government wanted to take a close look at were opposite exploration blocks awarded by Russia on the other side of the border.Russia's largest oil producer Rosneft operates three blocks bordering Norway, information on the company's website shows.Norway's state-owned oil company Equinor, previously called Statoil, had plans to drill with Rosneft in one of the blocks, known as Perseyevsky.But Western sanctions imposed on Moscow after Russia seized Crimea
Rosneft: South China Sea Drilling is Within Vietnam Waters
Drilling in the South China Sea by Rosneft is within Vietnamese territorial waters, the Russian state oil firm said in a statement on Thursday, two days after its Vietnamese subsidiary began drilling in Vietnamese waters claimed by China.Rosneft's local unit, Rosneft Vietnam BV, is concerned that its recent drilling in an area of the South China Sea that falls within China's "nine-dash line" could upset Beijing, two sources with direct knowledge of the situation told Reuters on Wednesday."Offshore license areas of Rosneft on the South China Sea are situated within the territorial
Glencore's Rosneft Investment
Glencore's decision to acquire a stake in Russian state oil giant Rosneft is not financially risky, Moody's credit ratings agency said, and does not mark any shift from the miner-trader's new policy of limiting its debt levels. Russia said on Wednesday it had sold a 19.5 percent stake in Rosneft to Qatar and Glencore for a total of 10.5 billion euros ($11 billion). Glencore is financing part of the deal with 300 million euros of its own equity, with the rest financed by the Qatar Investment Authority and non-recourse bank financing. "Looking at the preliminary terms of the Rosneft
Rosneft Set to Lower Oil Output
Rosneft, Russia's top oil producer, is set to lower oil output, Russian Natural Resourses Minister Sergei Donskoi said on Tuesday, giving no time frame for the decrease. He also said he hoped that state-controlled Rosneft will resume drilling for oil in the Arctic. The company suspended drilling in 2014 after its partner ExxonMobil withdrew from the project because of Western sanctions imposed on Moscow over its role in the conflict in eastern Ukraine. (Reuters Reporting by Olesya Astakhova; Writing By Denis Pinchuk; Editing by Dmitry Solovyov)
Rosneft Starts Drilling First International Offshore Well
Russian oil producer Rosneft's Vietnamese subsidiary has started drilling an exploration well off the south coast of Vietnam, it said on Wednesday. It is Rosneft's first individual international offshore drilling project as an operator, Russia's largest oil producer said in a statement. After the completion of the PLDD-1X well, at Block 06.1, Rosneft will drill another exploration well in Block 05.3/11, also in the Nam Con Son Basin, in the Vietnamese waters, it said. "I am sure that the experience gained in Vietnam will be used by the company not only in its activity
Rosneft, Gazprom to Receive Four Arctic Fields
Ministry of the Environment sent to the government documents on the transfer of "Rosneft" and "Gazprom" licenses for the development of four more fields on the Arctic shelf, he said in an interview with RIA Novosti Minister of Natural Resources and Environment Minister Sergei Donskoi. Minister of Natural Resources and Environment Minister Sergei Donskoi also added that the decision to suspend the issuance of licenses for parts of the shelf is not accepted, and the Department continues to issue licenses for the development of the Arctic shelf in accordance with current legislation
Sakhalin-1 Sets Another Extended Reach Drilling Record
Rosneft as part of Sakhalin-1 Consortium has successfully completed drilling of the world’s longest well at the Chayvo field. O-14 production well was drilled with Orlan drilling platform in direction of the field’s south-eastern point. The well has the world-record measured depth of 13,500 meters and a horizontal reach of 12,033 meters. Since the beginning of drilling program in 2003, Sakhalin-1 has set several world records in extended reach well drilling. With this accomplishment, the Sakhalin-1 consortium currently holds drilling records for 9 of the 10 world’s
February 2024
