Alexander Nazarov News
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OAO Surgutneftegas, Russia’s third- largest oil producer, reported it has 921 billion rubles ($29.7 billion) of cash and deposits in its first results under international standards in more than a decade.
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Russia, the world’s biggest oil producer, boosted crude and gas condensate production 1.2 percent in March from a year earlier to 10.47 million barrels a day, close to a post-Soviet era record.
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Russia boosted oil output to 10.21 million barrels a day in January, near a post-Soviet record, as state-controlled OAO Gazprom Neft ramped up output and OAO Lukoil halted monthly declines. Exports fell.
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OAO Gazprom , which supplies a quarter of Europe’s gas, will probably avoid the disruptions to deliveries that arose at the start of previous years because of disputes with Ukraine and Belarus.
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Russia may encounter short-term shortages of oil products such as gasoline and winter diesel as demand grows, refineries conduct seasonal maintenance and export duties fall, encouraging shipments abroad, analysts said.
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OAO Gazprom , Russia’s monopoly gas exporter, said profit fell 9 percent in the third quarter from a year earlier because of an exchange loss, while rising prices compensated for a decline in European sales.
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Oil & Natural Gas Corp., stung by criticism its biggest Russian acquisition has failed to pay off, is banking on crude trapped in Siberian shale rocks to redeem its $2.2 billion wager.
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OAO Surgutneftegas, a Russian oil producer operating in Siberia, won rights to the Shpilman field with a 46.2 billion-ruble ($1.5 billion) bid, according to a statement on the website of subsoil agency Rosnedra.
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OAO Gazprom, Russia’s natural-gas exporter, has begun work on a pipeline from Sakhalin Island to the eastern city of Vladivostok that may serve as a major export route to Asia, the company’s chief executive officer said.
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OAO Rosneft, Russia’s biggest oil producer, plans to more than double planned dividends, boosting the payout to 25 percent of last year’s profit, following an order from President Vladimir Putin.
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