Archive for the ‘petroleum’ Category

Russia Increases Oil Production   1 comment

Russia, the world’s largest oil producer, has increased monthly crude output by 0.3 percent in May of 2013, to the highest level of the year,according to preliminary data from the Energy Ministry’s CDU-TEK unit.

Output of crude and condensate was 44.3 million metric tons, or 10.481 million barrels a day.

OAO Gazprom (GAZP), Russia’s gas export monopoly, boosted output by 5.8 percent to 353,000 barrels a day. OAO Rosneft (ROSN), the world’s largest publicly traded oil producer, and its subsidiary OAO TNK-BP produced 3.85 million barrels last month, up 0.3 percent from April, according to the data.

Russia set a post-Soviet-era production record of 10.49 million barrels a day in November. Soviet-era production in Russia peaked in 1987 at 11.48 million barrels a day. President Vladimir Putin has called for production to be maintained at more than 10 million barrels.

For more information on the Russian oil industry, contact RADA LLC, a leading provider of due diligence services in Russia, the Caucasus, and Central Asia.

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2013: The Year of the Snake   Leave a comment

year-of-the-snake

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.

Azerbaijan to Build World’s Tallest Building   Leave a comment

Azerbaijan plans to build what is expected to be the tallest skyscraper in the world. The proposed site is a man-made island in the Caspian Sea.

The 1050-meter tall ‘Azerbaijan Tower’ will be 220 meters taller than the world’s current tallest building, Burj Khalifa, located in the United Arab Emirates.

The construction of the Azerbaijan Tower is scheduled to begin in 2015.

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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.

RADA LLC: Offering Due Diligence in Azerbaijan   Leave a comment

RADA LLC is well established in Baku, and offers a complete range of investigative, due diligence, and background check services throughout Azerbaijan.

Russia to Boost Oil Exports to China   Leave a comment

Prime Minister Vladimir Putin opened the Russian section of an oil pipeline that will boost oil exports to China from East Siberia.

“This is an important project because we are beginning to diversify the delivery of our energy resources,” Putin said at today’s opening of the pipeline in Skovorodino in Russia’s Far Eastern Amur region, in comments posted on his official website. “Thus far, shipments were made to our European partners.”

Putin said Russia is currently pumping 120 million to 130 million tons of oil to Europe and only “a small amount to Asia Pacific,” according to comments on his site.

“The China-Pacific pipeline is the most important energy project in Russia since the opening of the gas pipeline to Europe,” said Chris Weafer, chief strategist at UralSib Financial Corp., in e-mailed comments today. “It means that Russia’s strategic importance to China has increased considerably.”

Construction of the 64-kilometer (40-mile) pipeline on the Russian side was launched by OAO Transneft, the oil pipeline monopoly, in April 2009, according to Vesti-24 television. From the border, the pipeline will run a further 960 kilometers to the Chinese town of Daqing, located in the country’s northeast. China will begin testing after completion of its section of the pipeline in late September, Vesti added.

Igor Sechin, Putin’s deputy for energy, said Russia would also open 500 gas stations across China, Vesti added.

Russia’s Arctic Treasures   Leave a comment

The seabed of the arctic, especially the continental shelf north of Russia, is believed to be a fresh treasure trove of oil, natural gas and precious minerals. They were atu_160ll inaccessible throughout history because the severe cold weather and the great ice cap made geological prospecting, let alone extraction, virtually impossible. But thanks to global warming, that is changing fast.

The Russian government takes the prospect of an energy and mineral bonanza beneath the melting arctic ice extremely seriously.

Former Russian President Vladimir Putin authorized the resumption of long-range strategic bomber patrols over the Arctic Ocean after a long hiatus.

The slow-flying but long-endurance Tupolev Tu-95 Bear turboprop-powered bombers have exceptional range, and their relatively low fuel consumption allows them to stay aloft for unusually extended periods of time.

The Russian air force also has sent its most formidable, prestigious and expensive aircraft, the incomparable Tupolev Tu-160 White Swan (NATO designation Blackjack) on these arctic patrols as a further demonstration of how serious it is about enforcing its rights in the region.

Max Petroleum to Continue Work in Kazakhstan   1 comment

kazakh_oilOil and gas explorer Max Petroleum Plc announced that Kazakhstan’s energy ministry had extended the exploration period of the company’s Astrakhanskiy block license by two years until Jan. 12, 2012.

The Kazakhstan-focused company said the amendment to the licence also established a three-year project, including a commitment to start drilling the first exploration well on the block by Dec. 31, 2009.