Offshore Russia News


Russian Annual Oil Output Recovers in 2021 after Slump

Jan 03, 2022

Russia's annual oil production rose by more than 2% last year thanks to the easing of output cuts by the OPEC+ group of leading oil producers after a pandemic-induced decline in 2020, data showed on Sunday.Russian oil and gas condensate output rose to 10…

Putin Says Nord Stream 2 Link Ready to Calm Gas Prices

Dec 29, 2021

Russian President Vladimir Putin said on Wednesday the Nord Stream 2 undersea gas pipeline would help to calm a surge in European gas prices and was ready to start exports now a second stretch of the pipeline has been filled.Nord Stream 2, completed…

Gazprom Boosts Investments to $24 Billion in 2022

Nov 25, 2021

Russian gas giant Gazprom said on Thursday its management had approved investments worth 1.76 trillion roubles ($24 billion) for 2022, up from initial plans of 902 billion roubles for 2021, to fund new production and refining hubs.Gazprom is developing new gas production deposits…

Gazprom Reports 89% Profit Fall

Apr 29, 2021

Russia's Gazprom on Thursday reported an 89% fall in 2020 net profit to 135.3 billion roubles ($1.8 billion), hurt by lower prices and sales and a huge rise in costs including a foreign exchange-related loss, but it expects a recovery in 2021…

NOVATEK Elects New Board of Directors

Apr 23, 2021

Russia's largest independent natural gas producer PAO NOVATEK announced Friday that the annual general meeting of shareholders (AGM) approved the election of members to the board of directors.The following members were elected to the board of directors:Andrei I…

Pipe Laying for Nord Stream 2 Restarts in Danish Waters

Feb 07, 2021

The consortium behind the Russia-led Nord Stream 2 natural gas pipeline has resumed laying pipes in the waters of Denmark, it said on Saturday, despite mounting pressure on the project from Washington.Construction of the link, which would double…

US Plans to Sanction Russian Vessel Involved in Nord Stream 2

Jan 18, 2021

The United States has told European allies it plans to impose sanctions on a Russian pipe-laying ship, 'Fortuna', involved in construction of the Nord Stream 2 gas pipeline from Russia to Germany, German business daily Handelsblatt reported on Monday…

Russia: Equinor Boosts Onshore Presence, Exits Sea of Okhotsk Acreage

Dec 11, 2020

Norwegian oil and gas firm Equinor has increased its presence in the Russian onshore oil and gas assets, and has pulled out from offshore commitments in the Sea of Okhotsk on the Russian Far East.In an agreement with the Russian oil company Rosneft…

Nord Stream 2 Pipelaying Vessel Nears Project Hub

Oct 26, 2020

Russian pipe-laying vessel Akademik Cherskiy, expected to be used to finish the Moscow-led Nord Stream 2 gas pipeline, is heading towards the German project hub of Mukran, Refinitiv Eikon data showed on Monday.According to the ship tracking data…

Russia, Saudi Arabia Discuss Volatile Oil Market

Oct 19, 2020

The world's two largest oil exporters, Russia and Saudi Arabia, are in talks on how to support volatile oil markets, the Kremlin said on Monday as rising coronavirus infections worldwide curb fuel demand.An OPEC+ ministerial monitoring committee…

Gazprom Finds "Substantial Amounts of Gas" in Kara Sea Field

Oct 12, 2020

Russian gas giant Gazprom has found a new gas deposit in the Kara Sea, at the Leningradskoye field of the Yamal gas production center.Gazprom said: 'As a result of drilling and testing of an exploratory well, commercial gas inflow was obtained with a flow rate of about 600…

Sovcomflot Returns Seismic Vessel to Polarcus

Sep 29, 2020

Russian firm Sovcomflot has returned the offshore seismic vessel Ivan Gubkin to its owner Polarcus.The 14-streamer 3D seismic vessel - originally named Polarcus Amani - had been on a charter with Sovcomflot since 2017 and should've stayed with Sovcomflot for five and a half years…

Schottel Thrusters for Russia-bound Ice-Breaking W2W Vessel

Sep 24, 2020

Dutch shipbuilder Royal Niestern Sander has ordered Schottel thrusters for what has been described as the world's first shallow-draught ice-breaking walk-to-work vessel, targeted for operation at the Russian Far East.Under the order from a joint…

World's Top Ship Insurers Won't Cover Ships Linked to Nord Stream 2 Pipeline

Sep 23, 2020

The world's largest group of shipping insurers will not insure vessels involved in the Russian-led Nord Stream 2 and TurkStream gas pipeline projects because of the threat of U.S. sanctions.Associations belonging to the International Group of P&I Clubs…

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