India mulls buying Western firms stake in Russian oil, gas fields
... Sakhalin-II project and Exxon Mobil Corp's XOM 30% stake in the Sakhalin-I project. Other Indian state-owned companies such as Bharat Petroleum, Indian Oil , and Oil India also discussed evaluating and buying BP PLC's BP 20% stake in Russian energy giant Rosneft. Why It Matters: India has abstain from taking a stand in the Russia-Ukraine war, even though the Narendra Modi-led government has given medical help to Ukraine and asked Russia to stop the ongoing conflict. Russia became the fourth largest oil ...
Updated: 05/19/2022
India mulls selling 25% stake in BPCL
... that discussions about the plan were in the early stages. The government had hoped to raise $8 - $10 billion from selling its full stake in BPCL. After drawing up plans four years ago, it invited bids in 2020, hoping major players such as Russia's Rosneft might be interested. But Rosneft and Saudi Aramco did not bid, as low oil prices and weak demand curbed their investment plans at the time. The process would take more than 12 months to complete a part sale of BPCL, as it was unlikely to be completed ...
Updated: 05/17/2022
Russia's oil revenues up 50% despite EU's pressure
... is beginning to fray. The agency estimates that supplies were down 1 million barrels a day last month, and these losses could triple in the second half of the year. The EU will put in place sanctions against Russian state-linked enterprises such as Rosneft PJSC on May 15, and the bloc is moving towards a full ban on the country's supplies. The new embargoes would speed up the reorientation of trade flows that are already underway and will force Russian oil companies to shut in more wells, the ...
Updated: 05/12/2022
Russian Rosneft sells 700,000 barrels of Urals oil to Indian Oil
Russian Rosneft sold 700,000 barrels of Primorsk and Ust-Luga in May to Indian Oil Corp IOC, the country's top refiner, two traders familiar with the matter told Reuters on Friday. Russian Rosneft sold 700,000 barrels of Urals oil from Baltic ports of Primorsk ...
Updated: 05/06/2022
Shell Reports Record High Oil and Gas Earnings
... natural gas project. The majors have written off a combined $37 billion as they sever ties with the Kremlin after its invasion of Ukraine, with the exception of Chevron Corp. BP took the biggest hit on Tuesday, dumping its 20% stake in Kremlin-backed Rosneft PJSC and other assets in the country, which would cost it $25.5 billion. None of Wall Street Isn't ready for the Crackdown Its Way None of the children left behind by Long Covid are the children left behind by them. China Cracked Down on Big ...
Updated: 05/05/2022
Italian police race to find owner of $700m Putin-linked superyacht
... any sanctions list. The Italian media reported that the owner was Eduard Khudainatov , an oil tycoon not currently under sanctions. He is a longtime associate of Igor Sechin , a close Putin ally and chairman of the Russian state-owned oil company Rosneft , who is believed to be the owner of a superyacht seized in March.
Updated: 05/04/2022
BP posts loss on decision to leave Russia
... of the war in Ukraine. BP said in a statement it booked net loss of US $20.4 billion - 19.4 billion in the period from January to March compared with a bottom-line profit of $4.7 billion a year earlier. The group pulled its 19.75 per cent stake in Rosneft in February, ending more than three decades of investment in Russia, according to BP . BP chief executive Bernard Looney said in a statement that our decision to leave Rosneft resulted in material non-cash charges and headline loss. The charges ...
Updated: 05/03/2022
BP posts loss of $25.5 billion on exit from Rosneft
BP PLC reported losses of $25.5 billion on Tuesday following the decision to leave its 19.75% shareholding in Russia's Rosneft Oil Co.andowski Co. OPEC Co. BP PLC reported losses of $25.5 billion on Tuesday following the decision to leave its 19.75% shareholding in Russia's Rosneft Oil Co. The non-cash charges included $24.0 billion on the exit from Rosneft 's share ...
Updated: 05/03/2022
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