Offshore Russia News

 

Putin Orders Seizure of Exxon-led Sakhalin 1 Oil and Gas Project

Oct 09, 2022

Russian President Vladimir Putin signed a decree on Friday that establishes a new operator for the Exxon Mobil Corp-led Sakhalin-1 oil and gas project in Russia's Far East.Putin's move affecting Exxon's largest investment in Russia mimics a strategy he used to seize control of other energy properties in the country.The decree gives the Russian government authority to decide whether foreign shareholders can retain stakes in the project…

Nord Stream Breaches a Stark Reminder of Undersea Infrastructure Vulnerabilities

Oct 17, 2022

On the night of September 26, near the end of the calm season on the Baltic, a broiling kilometer-wide circle disturbed the face of the sea and a huge mass of methane erupted into the air. The gas formed a cloud that crossed Europe, in what’s…

Russia Says Output Recovery at Sakhalin 1 Depends on Exxon

Sep 07, 2022

Russia's energy minister said on Wednesday the recovery of oil production at the Sakhalin-1 oil and gas project in Russia's Far East would depend to a large extent on the position of ExxonMobil, Russian news agencies reported.ExxonMobil said…

Russia Ups Stakes in Sakhalin Energy Standoff in Sanctions Retaliation

Aug 05, 2022

Russia increased pressure on investors in its two Pacific energy projects which once helped Moscow rebuild its economy, blaming ExxonMobil for falling oil output at Sakhalin-1 and giving shareholders of Sakhalin-2 a month to claim their stakes…

Mitsui, Mitsubishi Shave $1.7 Billion off Sakhalin-2 LNG Stakes

Aug 02, 2022

Japanese trading houses Mitsui & Co and Mitsubishi Corp have cut the value of their stakes in the Sakhalin-2 liquefied natural gas (LNG) project in Russia by 217.7 billion yen ($1.66 billion) following Moscow's move to seize control of the project…

Nord Stream's Turbine Tussle Puts Spotlight on Equipment

Jul 26, 2022

The bickering over a turbine Moscow says is to blame for a reduction of gas flows via Nord Stream 1 has put into focus the equipment the pipeline needs to operate.At the heart of the tussle lies SGT-A65, a Siemens Energy turbine that is 12 meters long and weighs 20 tonnes…

U.S. LNG Exports to Europe on Track to Surpass Biden Promise

Jul 26, 2022

When U.S. President Joe Biden promised European leaders in March that he would help secure new supplies of liquefied natural gas to offset shortages from Russia’s invasion of Ukraine, his pledge was greeted with skepticism.After all, the U.S…

Wintershall Dea Looks to Domestic Production as Russia has 'Destroyed' Trust

Jul 26, 2022

Germany's Wintershall Dea, a shareholder of the Nord Stream 1 pipeline and longstanding Gazprom partner, on Tuesday said it would look to increase domestic oil and gas output since Russia has lost its status as a reliable energy supplier.If…

Swiss "Take Note" of EU Sanctions Tweak for Russian Oil

Jul 25, 2022

The Swiss agency in charge of sanctions said it was up to the Swiss government to decide whether to adopt a tweak to EU sanctions that eases shipments of oil from Russian state-owned firms Rosneft and Gazprom to third countries.Purchases of…

Demand for FSRUs Soars as Europe Works to Cut Reliance on Russian Gas

Jun 21, 2022

Following Russia's invasion of Ukraine, European countries have escalated efforts to wean themselves off Russian gas. FSRUs increasingly are in demand to fill the gap.Following Russia's invasion of Ukraine, European countries have escalated efforts to wean themselves off Russian gas…

Ban on Russian Commodity Exports to Accelerate LNG Growth, Energy Transition - Wood Mackenzie report

Jun 16, 2022

War in Ukraine is transforming the outlook for the supply, demand and price of hydrocarbons and the pace and cost of the energy transition. While the precise timing and implementation of future bans on Russian commodity imports are difficult to predict…

Brent Bulls Get a Boost from EU Sanctions on Russia

Jun 13, 2022

EU sanctions on Russia’s petroleum exports and easing lockdowns in China have encouraged portfolio investors to become more bullish on oil prices despite the steadily darkening outlook for the major economies.Hedge funds and other money managers…

Gazprom Offices Targeted in EU Antitrust Raids

Mar 30, 2022

Russian gas company Gazprom's GAZP.MM offices were raided by EU antitrust regulators, a person familiar with the matter said on Wednesday, as the EU watchdog ramped up its investigation into the company's gas supplies to Europe.EU antitrust…

Too Early to Consider Investment in Russia, CNOOC Says

Mar 30, 2022

It is too soon for China's CNOOC to discuss fresh investment in Russia, though its 10% stake in a liquefied natural gas (LNG) project in the Russian Arctic is proceeding normally, Chairman Wang Dongjin said on Wednesday.Wang had been asked if…

Argus Launches a Non-Russian Diesel Cargo Assessment

Mar 29, 2022

Price reporting agency Argus launched a new non-Russian diesel cargo assessment delivered into the Antwerp-Rotterdam-Amsterdam (ARA) port complex, the agency said.'The new price will represent fair market value of non-Russian diesel, providing…

Current News

Well Operations: Halliburton In 'Industry's First' Offshore Brazil

Well Operations: Halliburton In 'Industry's First' Offshore Brazil

Gasunie to Oversee Build of Dutch North Sea Hydrogen Network

Gasunie to Oversee Build of Dutch North Sea Hydrogen Network

Platform Supply Vessel to Ship CO2 for Storage Under North Sea Seabed

Platform Supply Vessel to Ship CO2 for Storage Under North Sea Seabed

Philippines Must Find Way to Exploit South China Sea Resources, says President Marcos

Philippines Must Find Way to Exploit South China Sea Resources, says President Marcos

Subscribe for OE Digital E‑News

Offshore Engineer Magazine