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(AP Photo/Mikhail Metzel)

Russia’s largest oil producer bucks global slump in drilling

OAO Rosneft, the world’s largest traded oil producer, increased drilling by 27 percent in the first seven months of the year, according to a statement. That helped the company stabilize output in the first half, Chief Executive Officer Igor Sechin said in Moscow on Friday.
(AP Photo/Mikhail Metzel)

BP to pay Rosneft $750 million for part of Siberian oilfield

Europe’s two biggest oil companies are looking for increased access to Russia’s vast energy reserves and their proximity to the markets of China and Japan
Categories: Crude oil, Deals
OAO Lukoil's Leonid Fedun pauses during an interview at the company's headquarters in Moscow, Russia, on Wednesday, June 25, 2014. (Alexander Zemlianichenko Jr./Bloomberg)

Russia’s second largest oil company maintained its 1Q dividend, despite crashing crude prices

The Moscow-based producer has cut spending for this year in response to the decline in oil, trimming expenditures on older Siberian wells and some international projects.
Photographer: Simon Dawson/Bloomberg

Lukoil profit drops 39 percent after impairments, oil-price slump

The results come after OAO Gazprom Neft posted a 31 percent decline in profit on Monday as oil prices plunged and a weaker ruble led to foreign-exchange losses, while OAO Novatek last week said earnings dropped 66 percent.
Russia's President Vladimir Putin, and China's President Xi Jinping, right, smile during signing ceremony in Shanghai, China on Wednesday, May 21, 2014. China signed a long-awaited, 30-year deal Wednesday to buy Russian natural gas worth some $400 billion in a financial and diplomatic boost to diplomatically isolated President Vladimir Putin.  (Alexei Druzhinin/AP)

Russia, China add to $400 billion gas deal with accord

Russian oil firm OAO Gazprom is negotiating the supply of as much as 30 billion cubic meters of gas annually from developments in West Siberia to China over 30 years.
President Vladimir Putin. (AP Photo/RIA-Novosti, Alexei Druzhinin, Presidential Press Service)

Russia starts drilling its northernmost oil well

The Russian-American project comes despite deteriorating relations between Washington and Moscow over the crisis in Ukraine, in which each side has hit the other with sanctions.
ExxonMobil CEO Rex Tillerson (left) talks to Russian Prime Minister Vladimir Putin during a  signing ceremony in Russia in 2011. (AP photo/RIA Novosti, Alexei Druzhinin, pool)

Exxon extends Russia partnership despite sanctions

Exxon Mobil Corp. extended its partnership with Russia’s state-controlled oil company even as U.S. and European nations threaten additional sanctions to punish Vladimir Putin’s regime for its actions in Ukraine.
Total headquarters outside Paris. (AP file photo/Jacques Brinon)

France’s Total signs shale deal with Russia’s Lukoil despite sanctions

French energy company Total SA is hooking up with Russia’s largest private oil company to explore and develop a huge Siberian shale oil field.
Categories: General
Satellite view of the Ob and Yenisei rivers as they carry sediments into the Kara Sea. (Stocktrek/Getty Images)

Exxon’s $900B Arctic prize at risk after Ukraine

Exxon Mobil Corp.’s dream of drilling in the Russian Arctic may risk running aground on the politics of Ukraine.
Exxon Mobil Chairman and CEO Rex W. Tillerson speaks at a news conference following the annual shareholders meeting in Dallas in 2009. (AP Photo/Mike Stone)

Energy’s global tiger can bear sanctions on Russia

Losing money on possible economic sanctions in Russia would amount to a little more than a rounding error for Exxon Mobil, the U.S. energy company with the biggest stake in a country under international pressure to release its grip on Ukraine.