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Russian oil & gas industry news

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Contaminated oil in Druzhba pipeline to cost Russia estimated $435 million

Moscow, Russia, May 13, 2019. As the situation with the quality of oil transported from Russia to Europe via the Druzhba oil pipeline is gradually improved, financial issues have come to the fore. Or, more precisely, the amount this accident will cost Russia has become of great concern. On May 11, 2019, President of Belarus A. Lukashenko reported that Belarus had lost an enormous amount of money; in particular, it had not received any profit, currency earnings, or transit. A. Lukashen

Gazprom to supply 200 BCM of gas/year to Europe in 2019

Minsk, Belarus. March 22, 2019 Gazprom is planning to maintain its gas supply to Europe at the level of 200 billion cubic meters (BCM) of gas per year in 2019, A. Kruglov, Gazprom board deputy chairman, told reporters on March 22, 2019. Gazprom reached volumes of export supplies above 200 BCM of gas per year for the first time in 2018 and now intends to at least maintain this level. On February 26, 2019, on Investor Day in Hong Kong, Ye. Burmistrova, director of Gazprom Export, s

Russia’s Gazprombank leaves Venezuela. Rosneft still stays.

Russia’s Gazprombank leaves Venezuela. Rosneft still stays.   Moscow, Russia. March 15, 2019 Gazprombank is minimizing risks in Venezuela. The bank has sold a 17% stake in GPB Global Resources which, in turn, owns 40% of Petrozamora, a joint venture with PDVSA, Reuters stated on March 14. The bank has confirmed the fact of leaving the joint venture without specifying any details. Petrozamora was founded in 2012 to develop oil fields in Venezuela. In 2013, Gazprombank, GPB, P