Archive for the ‘lukoil’ Category

2013: The Year of the Snake   Leave a comment


RADA conducts due diligence and business intelligence investigations in Russia, Ukraine, Belarus, Poland, Romania, Moldova, Latvia, Lithuania, Estonia, Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan.


Focus on Azerbaijan   Leave a comment

azerbaijan1Azerbaijan may be the oldest petroleum producing region in the world, going back to the third and fourth centuries. Many Arabic and Persian authors refer to the production of oil on the Apsheron Peninsula.

Marco Polo also saw the oil. He commented that it was not good to eat, but understood that it could be used as a fuel or medicine.

There are also many 18th and 19th century accounts of the Zoroastrian Fire Temple at Surakhany, where the fire was fed by natural gas from a cavern.

Azeri oil “boomed” beginning in the 1870s. The ancient site of Surakhany retained its importance. Even though Russian capital predominated, foreign interests began to participate as well. British firms, in particular, were able to commence operations as a result of their purchase of operations from Hajji Zeynalabdin Taghiyev.

Production increased after the Revolution, and offshore exploration began. During the war, oil fields were staffed largely by women and veterans. The entire Caucasus region, particularly Baku, was of key strategic importance throughout the war.

After gaining its independence, Azerbaijan has sought-and been successful in obtaining-significant foreign investment not only for petroleum but other industries as well.

For example, the Shah Deniz field was discovered in 1999. A gas plant was built at Sangachal Termanal in 2007, and is now a leading gas producer.

Chu: Increased Demand for Oil   Leave a comment

U.S. Energy Secretary Steven Chu, a champion of renewable energy and biofuels, has a clear position about the future of oil. neft_01

He says global demand for it will increase over the next two decades and even with more efficiency and alternative fuels, prices will increase again.

In the long run, over the next two decades, he said, he’s certain the price of crude will be significantly higher than today. Crude oil has dropped from a high last summer of $145 a barrel to a recent low of about $34.

Russian Oil Alliances: State of Play in Early 2009   Leave a comment

opec_question1In January 2009, a Russian national oil consortium created to run oil projects in Venezuela will also cooperate with Cuba’s state-run oil company Cubapetroleo, according to a memorandum signed between the two companies.

The deal was signed in the presence of Russian Deputy Prime Minister Igor Sechin and Vice President of the Cuban Council of Ministers Ricardo Cabrisas.

The oil and gas consortium of Russian companies working Venezuela, which includes Gazprom, Rosneft, TNK-BP, Surgutneftegaz and LUKoil, was formed in October 2008.

The Russian consortium is operated by Gazprom, while control of the Russian-Venezuelan oil and gas alliance is exercised by Venezuela’s state-controlled Petroleos de Venezuela S.A. (PDVSA).

Plans call for the export of oil  to the United States, China and Europe.

In late 2008, Shakib Khelil, the president of the Organization of Petroleum Exporting Countries (OPEC), that Russia would join the organization, increasing its ability to impact the crude market.

For some time, petroleum analysts have asserted OPEC’s abiility to check a sharp recent fall in crude prices depends largely on cooperation from non-OPEC producers such as Russia, Norway and Mexico.