Iraq slashes production plan, but doubts remain

BAGHDAD, June 14 (UPI) -- Iraq has formally lowered its controversial oil production target by one quarter, apparently recognizing it was way too ambitious. But industry analysts say that even the scaled-down plan may still be beyond Baghdad's reach because of shale oil.

Iraq: No breakthrough seen in Maliki visit to Kurds

ERBIL, Iraq, June 12 (UPI) -- Prime Minister Nouri al-Maliki's weekend visit to Iraq's semiautonomous Kurdish enclave did not produce any visible sign of a breakthrough in Baghdad's feud with the independence-minded Kurds who're now exporting oil through neighboring Turkey.

Gazprom Neft conducts fracking campaign

MOSCOW, May 24 (UPI) -- Russian oil producer Gazprom Neft announced it conducted its first hydraulic fracturing campaign on the Yamal Peninsula at its Novoport field.

Shell signals intent for Russian arctic

THE HAGUE, Netherlands, April 9 (UPI) -- Dutch supermajor Royal Dutch Shell may explore hydrocarbons in the Russian arctic alongside gas company Gazprom, the Russian company said.

Gazprom, Shell, reach deal on Arctic Shelf

AMSTERDAM, Netherlands, April 9 (UPI) -- Russian gas giant Gazprom and Royal Dutch Shell in Amsterdam have signed a memorandum of understanding that outlines joint exploration of the Russian Arctic.

Big Oil's hassle with Iraq is China's gain

BAGHDAD, March 29 (UPI) -- U.S. oil companies seem to be losing interest in Iraq, which a decade ago was seen as the big prize in the global energy business.

Kurdish leaders talk oil, gas in Russia

MOSCOW, Feb. 21 (UPI) -- The president of the semiautonomous Kurdish government of Iraq arrived in Moscow to discuss prospects for oil and gas cooperation, said Russia's Gazprom.

Troubled Baghdad scales back oil strategy

BAGHDAD, Feb. 20 (UPI) -- The brewing oil war between Iraq's central government and a defiant Kurdistan are forcing Baghdad to downsize its ambitious plans to quadruple oil output.

Iraq's oil rift deepens over Exxon move

ERBIL, Iraq, Feb. 15 (UPI) -- Exxon Mobil is pushing ahead with its drive to develop oil fields in Iraq's Kurdish enclave despite fierce opposition from Iraq's central government in Baghdad.

Russia's Rosneft invests big in Venezuela

CARACAS, Venezuela, Jan. 30 (UPI) -- Russia's state-owned oil company Rosneft said it aims to invest around $10 billion to support its work in the Venezuelan energy sector.

Rosneft expands role in Venezuelan oil

MOSCOW, Jan. 29 (UPI) -- Russian oil company Rosneft said it received approval from Moscow for a deal to expand its footprint in the giant Junin-6 oil field in Venezuela.

Kazakh oil pipeline slated for expansion

ASTANA, Kazakhstan, Jan. 25 (UPI) -- Russian oil pipeline company Transneft said it expects the volume of oil from a pipeline connecting Kazakhstan to the Black Sea to increase to 1.4 million bpd.

Russians acquires Kazakh bitumen plant

MOSCOW, Jan. 23 (UPI) -- Russian oil company Gazprom Neft announced it acquired a tar sands oil production facility in southern Kazakhstan.

Iraq: Danger looms as Kurds export oil

ERBIL, Iraq, Jan. 11 (UPI) -- Iraqi Kurds have sharpened tensions with Baghdad by exporting oil directly to global markets.

Gazprom Neft starts tight oil work

MOSCOW, Jan. 11 (UPI) -- Russian energy company Gazprom Neft announced Friday that it started drilling an appraisal well in Western Siberia, its second tight oil project.
Page 3 of 6

Gazprom Neft (RTS:SIBN, MICEX:SIBN, LSE: GAZ, FWB: SCFF) (Russian: Газпром нефть) is the fifth largest oil producing and refining company in Russia. It's the oil arm of Gazprom, which owns 80% of Gazprom Neft's shares with the option to buy the rest of 20% for US$ 3.7 billion at any time until April 2009 from EniNeftgaz, a joint subsidiary of Italian companies Eni and Enel.

Gazprom Neft's central office is located in Moscow; however, the company is already registered in St. Petersburg where it also has an office. Upon the completion of their new office building, known as Gazprom City in St. Petersburg, Gazprom Neft is going to move its headquarters to Saint Petersburg in the near future. It is currently the largest employer in Omsk and Noyabrsk.

Gazprom Neft was created under the name Sibneft (Russian: Сибнефть) in 1995 by Presidential Decree №872, issued on 24 August 1995. A government resolution was signed on 29 September, and the State Property Committee on 11 October ordered that the state's shares in oil producing enterprise Noyabrskneftegas, the Omsk Refinery, exploration enterprise Noyabrskneftegasgeophysica and marketing company Omsknefteprodukt all be transferred to Sibneft.

This article is licensed under the GNU Free Documentation License.
It uses material from the Wikipedia article "Gazprom Neft."
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