BP (NYSE:BP) and Total (NYSE:TOT) have been approached by Russia to enter into talks concerning offshore oil fields in the region which have been in the past off limits for foreign companies.
Russian Prime Minister Vladimir Putin recently met with a group of potential foreign investors and companies who aired their concerns over challenges which need to be addressed and improvements made to loosen their pocketbooks and enter into the Russian market.
Russia realizes it must make improvements to attract foreign investment, and part of that strategy, apparently, is to open up formerly closed sectors.
Deputy Prime Minister Igor Sechin and Eduard Khudainatov, who is CEO of Rosneft, the giant Russian oil company, said they talked with BP and Total about "potential future cooperation on offshore deposits."
BP CEO Bob Dudley and Total's Christophe de Margerie participated in the discussions.
Showing posts with label Russia. Show all posts
Showing posts with label Russia. Show all posts
Tuesday, October 19, 2010
Friday, October 15, 2010
BP's (NYSE:BP) Assets in Venezuela Will be Acquired by TNK-BP
A deal to acquire the Venezuelan assets of BP (NYSE:BP) by TNK-BP, a joint venture between them and a group of Russian billionaires, has been confirmed today by the energy ministers of both countries.
The memorandum was signed between the two nations when Hugo Chavez visited Russia.
Terms of the deal weren't revealed (although in the past it was estimated to be valued at about $1 billion) but the specific assets were, as German Khan, one of the wealthy Russian's with a stake in the venture revealed, include the acquisition of three oil fields: "16.7 percent of Petromanagas, 40 percent of Petroperija and 26.6 percent of Bouqeron," said Khan.
TNK-BP's goal is to expand outside of Russia and ultimately become the largest independent producer based in the country.
BP is selling the asset as part of their goal to raise $30 billion to pay for unfolding liabilities related to the Gulf of Mexico oil spill.
The memorandum was signed between the two nations when Hugo Chavez visited Russia.
Terms of the deal weren't revealed (although in the past it was estimated to be valued at about $1 billion) but the specific assets were, as German Khan, one of the wealthy Russian's with a stake in the venture revealed, include the acquisition of three oil fields: "16.7 percent of Petromanagas, 40 percent of Petroperija and 26.6 percent of Bouqeron," said Khan.
TNK-BP's goal is to expand outside of Russia and ultimately become the largest independent producer based in the country.
BP is selling the asset as part of their goal to raise $30 billion to pay for unfolding liabilities related to the Gulf of Mexico oil spill.
Monday, January 12, 2009
Europe Relieved as Russia and Ukraine Sign Gas Monitoring Agreement
Europe breathes a little easier as Russia and Ukraine sign agreement to keep gas flowing to region.
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