Lukoil: joining the dividend rush
A good day for investors seeking dividends in Russia. Hot on the heels of the state-controlled companies looking to return around 25 per cent of profits (see previous story) comes Lukoil, Russia’s...
View ArticleLukoil: looking over its shoulder
Russia’s ministry of natural resources fired a shot across the bows of Lukoil on Friday, warning that the Russian oil major could lose the right to develop two huge Arctic oil fields in a partnership...
View ArticleDancing with (polar) bears: a rush to link hands with Rosneft
Another big foreign oil deal in Russia. State-controlled Rosneft and Italy’s Eni announced on Wednesday a pact for offshore exploration in the Russian Arctic and the Black Sea. Prime minister Vladimir...
View ArticleTNK-BP: Troika takes on RenCap
An unusually forthright spat among stockbrokers over TNK-BP – one that that mirrors, in its modest way, the titanic battle being fought over the Russian oil group by its shareholders. Renaissance...
View ArticleRussian gas: Gazprom v upstarts
Monopolies would not be monopolies if they accommodated competition. So it’s not surprising that Gazprom appears to have its back to the wall. In Europe the Russian company is facing an anti-trust...
View ArticleTNK-BP: rolling back Russian privatisation?
State-owned Rosneft buys TNK-BP Photo Bloomberg Russia’s government did its best on Wednesday to affirm its continued commitment to privatisation plans, despite carrying out what is in effect the...
View ArticleWho’s afraid of working with Petrobras? Not Lukoil
For international companies, Brazil’s oil and gas industry can be challenging. The national oil company, Petrobras, has been appointed the sole operator by government decree of new fields in the...
View ArticleKazMunaiGaz’s unpleasant surprise for oil majors
When KazMunaiGas muscled into the Karachaganak oil and gas field in 2011, international oil majors had no choice but to dilute their shares in the hugely profitable project to make way for Kazakhstan’s...
View ArticleNorway & Russia: new oil best friends
Norway has been producing oil offshore since the 1970s and hardly needs help from relatively inexperienced Russia. So presumably it’s for strategic reasons that Norway’s energy ministry decided this...
View ArticleAnother oil major pulls out of Venezuela
The revolving door at Venezuela’s oil sector continued to spin on Wednesday after Lukoil, Russia’s second largest oil producer, said it was withdrawing from a multi-billion dollar oil project in the...
View ArticleHong Kong / Lukoil: the Russians aren’t coming
Russia’s second largest oil producer Lukoil has put on ice its plans to list on the Hong Kong Stock Exchange. Lack of an accord between Russian and Hong Kong regulators means Lukoil has, for now,...
View ArticleSinopec in $1.2bn deal with Lukoil as China moves deeper into Central Asia
Lukoil has agreed to sell its stake in several oil projects in Kazakhstan to Sinopec for $1.2bn, in the latest of a string of Chinese investments in the country’s energy sector. The Russian company –...
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