Indian state Oil & Natural Gas Corporation (ONGC) is holding negotiations for participating in Rosneft's shelf extraction projects, gazeta.ru reports citing the Times of India. ONGC seeks to participate in one of three arctic shelf projects, in which ExxonMobil (USA), ENI (Italy) and Statoil (Norway) already hold 33% shares, respectively, the other 67% held by Rosneft. Indian company reportedly seeks to acquire part of Rosneft share, or 33% or smaller stake in any of the future 12 shelf extraction projects announced, admitting insufficient expertise for this kind of extraction projects. Rosneft and Gazprom hold state monopoly for offshore extraction. |
As Cyprus is trying to come up with new ways to raise EUR 5.8bn needed to secure the financing from ECB, EC, and IMF, Russia's participation in the package is not clear. According to the latest ... more
Fitch Ratings believes that resolution of the Cyprus crisis with a deposit levy or some other form of burden sharing involving creditors is unlikely to result in material losses for Russian ... more
Russia and China discuss contracts that would triple exports of Siberian oil through various transport corridors, Reuters reports citing unnamed sources in the industry. Rosneft is discussing ... more