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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

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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

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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

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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

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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

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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

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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

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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

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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.
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 Russia ambitions show oil trumps Obama-Putin spats

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As Barack Obama and Vladimir Putin argue over human rights in Russia and the fate of fugitive U.S. intelligence analyst Edward Snowden, the countries’ biggest oil companies are preparing to drill for giant discoveries together in the Arctic Ocean.
Johan Vold, managing director of the Oslo Energy Forum, speaks about opening the Arctic to oil and gas drilling during the Houston Shipping & Offshore Conference on Wednesday, Oct. 23, 2013. (Emily Pickrell/Houston Chronicle)

Melting Arctic easing access to fossil fuels

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More direct northern sea routes may be opening up in the Arctic, as the melting of the ice has made previously unnavigable routes a growing possibility for large ships, including tankers carrying oil and gas, an expert said Wednesday at the Third Houston Shipping and Offshore Conference.