Archive for the ‘putin’ Tag

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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Vladimir Putin Elected President of Russia   Leave a comment

ImageVladimir Putin was elected President of Russia in the May 4, 2012 election.

New Year Greetings From Prime Minister Putin   Leave a comment

Prime Minister Vladimir Putin has wished Russians a happy New Year and voiced certainty that 2012 will prove successful economy-wise.

Russia has remained an “island of stability” amid the raging sea of the world economy.

We have generally coped with the aftermath of the crisis, our economic development is picking up the pace, and this instills hope, the Prime Minister has said.

On the political situation in the country, he said that Russia is in the middle of a cycle, with the Duma elections over, while the presidential election race is just getting under way. He wished all Russians, irrespective of their political preferences, well-being and prosperity.

Vladimir Putin In 2012?   Leave a comment

Vladimir Putin has announced that he will run for president in 2012.

Former BP CEO Hayward Snubs Rosneft?   1 comment

British Petroleum (BP) is under increasing pressure over its disputed joint venture with Russia’s state-controlled oil firm Rosneft.

Recently, former BP CEO Tony Hayward missed a crucial board meeting, causing speculation that he may disagree with BP’s handling of the contentious deal.

In January, BP announced the signing of a joint Arctic exploration deal and $16 billion share swap with Rosneft, which the Kremlin billed as confirmation of the West’s continued business interests in Russia.

If successful, the tie-up would see BP gain a 10 percent stake in Rosneft and the Russian company receive a five percent stake in BP.

A. A. Deyneka Exhibit In Rome Inaugurates 2011 As Year Of Italian And Russian Culture   Leave a comment

An exhibition of paintings by Soviet artist Aleksander Aleksandrovich Deyneka (1899-1969) opened in Rome on Thursday, inaugurating a year packed with hundreds of joint cultural events between Italy and Russia.

The paintings on loan from Russia depict famous scenes from the Russian Revolution and World War II, but also nudes and images of daily life in the Soviet Union with factory workers, sportsmen and children.

Deyneka came from a family of railroad workers and started out as a police photographer after graduating from art school. He made mosaics in the 1930s for Mayakovskaya metro station in central Moscow.

Russian President Dmitry Medvedev visited Italy this week and said the 12 months ahead would see some 500 events organised by the two countries including exhibitions, concerts, film showings and plays.

The Deyneka ehibit runs in Rome’s Palazzo delle Esposizioni until May 1.

Russia and Belarus to Cooperate on Oil; Kazakhstan Joins in Formation of Customs Union   Leave a comment

December 9, 2010 [Minsk] Belarus says Russia has agreed to scrap duties on oil it supplies to the country from Jan. 1.

Belarusian President Alexander Lukashenko said in televised comments Thursday that his government in turn has agreed to pass on to Russia the export duties it charges on products it makes from the imported Russian oil.

Moscow earlier insisted that it would scrap duties only for oil supplied to Minsk for its domestic needs, but has now agreed to broaden that to all oil exports to Belarus.

The agreement, thought to be worth up to $4 billion to the Belarusian economy, comes a week before presidential elections in which Lukashenko is a candidate. The authoritarian leader is unlikely to allow rivals a serious chance to end his 16-year reign as president.

Today’s deal was inked as Russia, Belarus and Kazakhstan agreed to create a fully fledged customs union by 2012.