In another sign of strengthened ties between Venezuela and Russia, Prime Minister Vladimir Putin visited Hugo Chávez on Friday. Together they toured the Kruzenshtern, a Russian ship docked at the Venezuelan port city of La Guiara, and spent time in Miraflores, the equivalent of Venezuela’s White House. While in Caracas the leaders signed agreements to […]
Last month, the Iraqi government held its second round of auctions for its oil fields. Mid-month, seven fields were awarded to international oil companies. American companies did not win any new leases in this round, but Petronas, a state-owned Malaysian company; Sonangol, of Angola; and Lukoil of Russia and Statoil of Norway did. Petronas and […]
Russian oil companies, including Gazprom and Lukoil, will pay $1 billion to Venezuela for the chance to develop oil reserves along the Orinoco. Even though Caracas and Moscow are allies, I still have doubts about the final payout for these businesses. In 2006 the Venezuelan government pushed out some foreign oil companies, and forced others […]
Russian President Dmitry Medvedev is on a 4-nation tour this week through Africa to push his expansive international energy policy. Today, his former company, Russian gas giant Gazprom, signed a $2.5 bln deal with its counterpart in Nigeria to build infrastructure including refineries, pipelines and gas power stations. The deal gives access to Nigeria’s resources […]