On August 7, Norway’s Statoil announced its exit from the super-giant Shtokman gas field development in the Russian Arctic. The Norwegian company, majority state-owned, is writing off its investment into the Shtokman project, booking $335 million (apparently most of that investment) as financial expenses for... MORE

Beijing proposes to increase the volume of Turkmenistani natural gas supplies to China to 65 billion cubic meters (bcm) per year, more than doubling the present level of deliveries. This implies China is scooping up production increments in Turkmenistan in the years immediately ahead. While... MORE

Kazakhstan’s national oil and gas holding, Kazmunaigaz, has started its first-ever oil exploration drilling outside that country. Rompetrol Upstream, a division of Rompetrol Group, is drilling the Kaz-1 exploration well near Focsani in eastern Romania. The Rompetrol Group is a fully-owned subsidiary of Kazmunaigaz Processing... MORE

On July 31, Russian President Vladimir Putin suggested that Transnistria is entitled to self-determination, implying secession from Moldova. Answering questions at the Kremlin-sponsored Camp Seliger Forum, Putin stated: “Many problematic spots have remained after the Soviet Union’s fall, and Transnistria is one of them. Only... MORE

On June 28, the Shah Deniz gas producers’ consortium in Azerbaijan announced that it has selected the Nabucco-West pipeline project to be the route for Caspian gas into Central Europe. This decision is an immediate consequence of the Azerbaijan-Turkey inter-governmental agreement, signed on June 26,... MORE

Gazprom’s Shtokman offshore gas project in the Barents Sea faces its third reconfiguration in a decade. The project – a joint venture of Gazprom with French Total and Norwegian Statoil – has yet to start in practice at the supergiant deposit in the Russian Arctic.... MORE

Georgian billionaire and aspirant to power, Bidzina Ivanishvili, has started selling some of his assets in Russia for liquidity. Some of the proceeds will probably be ploughed into Ivanishvili’s political operations in Georgia and third countries. Ivanishvili amassed his $6.4-billion worth  in Russia during the... MORE

SummaryFollowing two years of negotiations, France and Russia have at last signed a contract finalizing the sale of two French Mistral-class amphibious-assault, helicopter-carrier ships to the Russian Navy for $1.7 billion. Russian President Dmitry Medvedev oversaw the signing ceremony on June 17, during the St.... MORE

With Prime Minister Vladimir Putin’s protection, the Novatek Company seems set to acquire full ownership (or at least the stock options for full ownership) in Yamal LNG, Putin’s new pet project. The Russian government and Novatek are now inviting Western companies to develop that gas... MORE

The United States and the European Union have imposed on July 1 and July 26, respectively, a new round of sanctions of unprecedented severity, presuming to hinder Iran’s uranium-enrichment program. Other parties, however, are wasting no time opening loopholes in these sanctions’ main dimension, pertaining... MORE