Friday, September 12, 2014

Sanctions against Russia firmly strike in the oil sector – Money.pl

Sanctions against Russia firmly strike in the oil sector – Money.pl

2014-09-12 19:00

 Sanctions against Russia firmly strike in the oil sector

[Photo: lagereek / Dreamstime]

/> The sanctions imposed on Russia can stop the billions of dollars that international oil companies such as BP, ExxonMobil, Statoil and Total, want to spend on oil exploration oil in Russia – says Reuters.

According to the EU decision announced today the restrictions on access to capital included, among others, Russian oil companies: Rosneft, Transneft and Gazprom Neft.

Reuters published a list of the largest oil companies in the USA and the European Union, which conducted business in Russia, together with a description of their activities.

The company BP has a 19.75 per cent. shares in controlled Rosneft, the Russian state corporation. It was part of the agreement, under which the British company sold its stake in Rosneft English-Russian oil company TNK-BP for $ 55 billion last year. The company agreed to joint exploration of oil inaccessible. The head of BP, Robert Dudley, who is an American citizen, member of the Board of Directors of Rosneft.

According to Reuters, in turn, the company ExxonMobil is involved in the project Sakhalin-1 wsypie Sakhalin in the Pacific Ocean. Abstracted there are more than 100 thousand. barrels per day. ExxonMobil has 30 percent. stake in the project, while Rosneft – 20 percent. Other shareholders are Japanese Sodeco and Indian ONGC.

Rosneft and Exxon also agreed on joint work on mining inaccessible oil deposits located in Eastern Siberia, where resources may be greater than the Bakken fields in North America. Exxon has committed to funding the project up to $ 300 million. Both companies also planwały joint hydrocarbon exploration in the Arctic and the Black Sea.

Relationships with Russian fuel industry also has a Norwegian company Statoil. Along with Rosneft, the company intends to cooperate in the search for hydrocarbons in shale formations Domanik in the Volga region, as well as on the Norwegian continental shelf in the Barents Sea, where Rosneft received 20 percent. interest in license PL713. The two companies also intend to collaborate on the mining concession on the Sea of ​​Okhotsk. Statoil also owns 30 percent. stake in the project Chariaga oil in northern Russia.

Italian Eni while intended to work with Rosneft in exploration in the Barents Sea and the Black Sea. The same Russian company started cooperation with ConocoPhillips project Polar Light in the Arctic region.

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It will be one of the largest financial restructuring in Poland.

His interests in Russia is also France’s Total, which holds 40 percent. stake in the project Chariaga oil; mining goes there approx. 30 thousand. barrels per day. Total also reached an agreement with the company Lukoil on the exploration of shale oil in the Bazhenov Formation in Siberia. Search to be launched in 2015.

Royal Dutch Shell working meanwhile with the company Gazprom Neft through shared a joint venture Salym Petroleum. It seeks niekownencjonalnych oil fields in Siberia, and also brings about. 140 thousand. barrels per day. Gazprom Neft and Shell also set up another joint venture for exploration in Siberia. Shell has a 27.5 per cent. stake in the Sakhalin-2 project, in which it is mined per day approx. 100 thousand. barrels of oil and produced 10 million tons of liquefied natural gas. In this project 50 percent. Gazprom shares, 12.5 percent. Japanese Mitsui and 10 percent. Mitsubishi.

The EU published on Friday tightened sanctions against Russia for destabilizing Ukraine. Restrictions on access to capital included three Russian oil companies: Rosneft, Transneft and Gazprom Neft. The sanctions include a ban on the purchase, sale, provision of investment services or assistance in the issuance of securities and other financial instruments with a maturity of more than 30 days. Ban on the sale to Russia of advanced technologies needed to extract oil from deep-water deposits, deposits in the Arctic and the slate expanded to ban the provision of related services, such as. Making holes or measurements.

The American Ministry of Finance also announced that introduces new sanctions aimed at Russian banks and the oil sector and defense. The list includes oil companies Gazprom Neft, Lukoil and Rosneft.

Read more in Money.pl

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