The EU further ratcheted up sanctions against Russia’s oil sector targeting Gazpromneft, Transneft and Rosneft with measures that will prevent the firms from raising capital in EU member states. The economic restrictions again fall short of squeezing Russia’s natural gas industry upon which many European companies closely rely. [Wall Street Journal] European Energy Commissioner Günther… Keep reading →
Russian gas independent Novatek and Gazprom oil-producing arm Gazpromneft have agreed to a $2.94bln deal to buy Italian Eni‘s stake in SeverEnergia, which is expected to produce 36 billion cubic meters of gas and liquids by 2017, equivalent to two-thirds of Novatek’s production, according to Reuters. A joint venture of Eni and Italian Enel has a 49% stake in SeverEnergia, of which Eni controls 60%. Investment… Keep reading →
