MOSCOW (Reuters) - Norway's Statoil will drill in Russian Arctic waters thought to contain 2 billion metric tons (2.20 billion tons) of oil in partnership with Rosneft, marking the third deal of its kind for the Russian state company.
Norway's Statoil will drill in Russian Arctic waters thought to contain 2 billion metric tons of oil in partnership with Rosneft, marking the third deal of its kind for the Russian state company. The agreement, ...
Russia’s decision to give China a share of prized Arctic exploration licenses as part of a “breakthrough” deal signals how the world’s largest oil and gas producer and the biggest energy consumer are redrawing the global energy map.
Submitted by Stephen Blank via The Diplomat, China has certainly been busy since it won observer status at the May Arctic Council summit in Kiruna, Sweden. First, Yu Zhengasheng, Chairman of China’s Political Consultative Conference, visited Finland, Sweden and Denmark with an eye to boosting general trade and cooperation, particularly in the Arctic.
By Craig Pirrong: Very interesting of juxtaposition of stories involving Norway and Russia (h/t R).Story one-Norway's Statoil and Russia's Rosneft agree to exploration joint ventures in the Russian Arctic:
Rosneft (ROSN.ME) said on Tuesday it had agreed to sell oil product cargoes to BP (LSE:BP.) worth over $6 billion, on top of a previous deal to sell oil worth $5.3 billion. The Russian state-owned company said in a filing that it would sell up to 3.2 million metric tons of fuel oil to BP Singapore for up to $2.6 billion from the Far East ports of Nakhodka or Vanino in Nov 2013-Dec 2014 with a possibility to lift it in 2015. Rosneft will also sell up to 1.44 million tons of diesel to BP for up to $1.77 billion from the Black Sea port of Tuapse.
Norway's Statoil signed a cooperation agreement with Russian state oil company Rosneft to develop Russia's mostly untapped offshore energy resources in the Arctic. Exxon and Italy's Eni signed similar deals in April.