at CNBC.com (Sat, 12:14AM)
at CNBC.com (Wed, 9:26AM)
at MarketWatch.com (Tue, 9:22AM)
at CNBC.com (Sat, 12:14AM)
at CNBC.com (Wed, 9:26AM)
at MarketWatch.com (Tue, 9:22AM)
Gazprom extracts, transports, stores and sells natural gas. The company is the successor to the State-owned company. Gazprom owns and operates Russia's Unified Gas Supply System. The company has a monopoly in supplying gas in the Russian Federation, and exports natural gas to Western Europe.
Friday, Mar 79:58 AM
Friday, Mar 79:58 AM| Comment!
- More brinksmanship in the Ukraine crisis: Gazprom (OGZPY) says Ukraine has missed today's deadline in paying for February gas deliveries and is threatening to cut off the country's gas supply.
- Russian Pres. Putin and Gazprom already have said Russia will scrap price discounts for Ukraine as of April because Ukraine failed to pay for gas on time.
- Gazprom says Russian gas transit via Ukraine to Europe remains stable.
Tuesday, Mar 47:57 AM
Tuesday, Mar 47:57 AM| 5 Comments
- Pres. Putin may have ordered troops back to their bases, but nothing has changed in the old Russian tactic of bullying its neighbors through gas supplies, as Gazprom (OGZPY) says it will raise gas prices for Ukraine from the start of next month because the country has failed to pay its debts.
- As part of a bailout deal in December, Putin gave Ukraine a hefty discount on Russian gas supplies, but today he said: "If you don’t pay, then let’s go back to regular prices. This makes perfect commercial sense. This has nothing to do with [the] situation in Ukraine. We gave them money, they failed to deliver."
- The price increase is certain to pile further pressure on Ukraine’s struggling economy.
Monday, Mar 310:45 AM
Monday, Mar 310:45 AM| 2 Comments
- Even as it sends troops into Ukraine, Russia has an equally formidable weapon it appears willing to use to pressure the country: gas supplies.
- Gazprom (OGZPY -13%) strongly hinted over the weekend it might raise gas prices for Ukraine in the next quarter, as the country’s ~$1.55B in unpaid debts to the company meant it "may not keep the current discount on gas."
- In December, Russian President Putin gave Ukraine a hefty discount on its gas supplies as part of a $20B package, but prices must be renegotiated every three months.
- So far, Russian gas shipments to Ukraine and the rest of Europe haven’t been disrupted; Gazprom supplies ~30% of Europe’s gas, and two-thirds of it is exported to Europe through Ukraine.
- Gazprom shares fell as much as 17% in Moscow, but remains upbeat as it holds its annual meeting with investors in London, declaring Europe will become even more dependent on Gazprom's gas supplies in years to come.
Wednesday, Jan 228:24 AM
Wednesday, Jan 228:24 AM| Comment!
- Gazprom (OGZPY) reportedly may offer a lower price for its gas in talks with China in exchange for billions of dollars in upfront payments, as top brass from the Russian gas giant landed in Beijing for a round of talks today.
- Rosneft (RNFTF) already has established a precedent for huge advances on its exports to China, receiving at least $12B in a lump sum late last year as part of a deal to ramp up supplies.
- Gazprom is hoping to clinch a deal to pump 38B cm/year by pipeline to China from 2018, which would be a milestone in Pres. Putin's drive to diversify Russia's energy exports away from Europe, where Gazprom faces a probe into alleged monopoly practices, towards energy-hungry Asia.
Monday, Jan 138:15 AM
Monday, Jan 138:15 AM| 2 Comments
- Royal Dutch Shell (RDS.A, RDS.B) and Gazprom Neft (OGZPY, GZPFY) begin a drilling campaign to assess the potential of Siberia’s Bazhenov formation, likely one of the world’s largest deposits of shale oil.
- The venture between the two companies has started drilling the first of five horizontal wells over the next two years following three years of study on the prospect.
- The Bazhenov layer, which underlies Siberia’s existing oil fields, has attracted Shell and Exxon (XOM) because it is similar to the Bakken shale in the U.S.; XOM will start a $300M pilot project drilling in a different part of the Bazhenov with Rosneft this year.
Friday, Jan 108:15 AM
Friday, Jan 108:15 AM| Comment!
- Gazprom Neft (GZPFY), the oil-producing arm of Russian gas firm Gazprom (OGZPY, OGZRY), says it has produced first oil in well-testing at its Badra oilfield in Iraq and plans to start commercial production there this year.
- The successful testing at the BD4 appraisal well took place late last month with a natural flow rate of 7K bbl/day; Badra's output is expected to reach 170K bbl/day by 2017.
Thursday, Jan 210:57 AM
Thursday, Jan 210:57 AM| Comment!
- Russia says its oil output rose for the fifth year in a row in 2013, rising 1.3% to 10.5M bbl/day and reaching a record high for the post-Soviet era.
- Output at state-run oil producer Rosneft (RNFTF) surged to 156.5M tons from 117.5M, as it consolidated its $55B purchase of TNK-BP, and now accounts for ~30% of Russia's output; Lukoil (LUKOY, LUKOF) ranked second in production at 85.8M tons.
- Natural gas output rose 2.1% to 668B cm following a 2.3% decline in 2012, but Gazprom's (OGZPY) production fell 0.6% to 476B cm.
Friday, Dec 202013, 8:56 AM
Friday, Dec 202013, 8:56 AM| 1 Comment
- Gazprom (OGZPY) is likely to sign a contract with China to supply natural gas by the end of January, Gazprom CEO Alexei Miller says.
- China National Petroleum (PTR) and Gazprom agreed in September on the basic terms of an agreement, including volume, the date of the first delivery, payment and a take-or-pay amendment, but both countries failed to secure the most important detail: a price.
Tuesday, Dec 172013, 11:45 AM
Tuesday, Dec 172013, 11:45 AM| 3 Comments
- Russia agrees to lend Ukraine $15B and cut prices for natural gas amid large-scale protests in Kiev over the rejection of a trade deal with the European Union, which has put additional pressure on Ukraine's bonds and currency.
- Gazprom (OGZPY) also will cut gas prices for Ukraine to $268.50 per thousand cubic meters, down from $400.
- Russia had restricted Ukrainian imports in recent months, stepping up pressure on its neighbor as it appeared ready to sign the deal with the EU.
- ETFs: UNG, UGAZ, GAZ, BOIL, DGAZ, UNL, KOLD, NAGS, GASZ, DCNG.
Tuesday, Dec 172013, 9:56 AM
Tuesday, Dec 172013, 9:56 AM| Comment!
- The head of Russia's Gazprom (OGZPY) says the long-awaited deal on deliveries to China may not be signed until February despite earlier vows to settle a contract before the end of the year.
- Gazprom signed an agreement with China National Petroleum (PTR) in September on the basic terms for gas supplies but have not yet settled the question of price.
- The two sides have signed initial agreements for the supply of 38B cu. meters of gas/year, the route of delivery, the level of guaranteed volumes CNPC must pay for, and the speed at which supplies will be ramped up.
Thursday, Dec 52013, 5:56 PM
Thursday, Dec 52013, 5:56 PM| Comment!
- Ukrainian officials failed to show to sign a deal that could open up a natural gas supply route via Slovakia, WSJ reports, raising concerns that Ukraine was walking away from an agreement the European Union spent months brokering.
- The deal would have opened up a major gas supply route to Ukraine that could have greatly reduced the country's dependence on Russian supplies, but Pres. Yanukovych's government had warned it may put the deal on hold, citing trade pressure from Russia.
- Russia's Gazprom (OGZPY) meets a quarter of the EU's gas needs, the bulk of which flows via Ukraine, and supplies the vast majority of Ukraine's energy needs.
Wednesday, Dec 42013, 2:34 PM
Wednesday, Dec 42013, 2:34 PM| Comment!
- Gazprom (OGZPY) will present draft proposals responding to European competition concerns about its pricing and other practices in coming days, the EU's antitrust chief says after meeting with the company's deputy chairman.
- Russia supplies roughly one-third of the EU's natural gas but supplies a large majority of the gas used in eastern European countries.
- The potential breakthrough comes amid heightened tension between Russia and the EU over ties to the Ukraine; the EU has accused Russia of pressuring Ukraine's government into putting on hold a broad trade accord.
Friday, Nov 292013, 8:49 AM
Friday, Nov 292013, 8:49 AM| 1 Comment
- Eni (E) is eyeing southeast Asia as the company's next growth area for oil and gas exploration, CEO Paolo Scaroni says; it has returned to Indonesia, it is finding resource discoveries in Pakistan and is buying up exploration blocs in Vietnam and Myanmar.
- The Italian company also plans to pump $28B into exploration and production activities in Africa in the next few years.
- Eni says its recently announced plan to sell its stake in a natural gas field in the far north of Russia to Gazprom (OGZPY) for ~$2.9B does not mean it is pulling out of the Russian Arctic.
- Also, Scaroni confirms reports that Eni may demand as much as $10B from Statoil (STO) in arbitration from a dispute over several years of long-term gas contracts.
Wednesday, Nov 202013, 7:08 AM
Wednesday, Nov 202013, 7:08 AM| Comment!
- Eni (E) has agreed to sell its 60% stake in Arctic Russia to to Yamal Development, a joint venture owned by Novatek (NOVKY) and GazpromNeft (OGZPY), for $2.94B.
- "With this sale, Eni monetizes its investment in Siberian upstream assets, which have...significantly matured," the company said.
- Arctic Russia owns 49% of Severenergia, which holds four licenses for the exploration and production of hydrocarbons in the region of Yamal Nenets in Siberia. (PR)
Friday, Nov 152013, 11:54 AM
Friday, Nov 152013, 11:54 AM| Comment!
- Ukraine has resumed buying Russian gas and has stopped taking gas from its underground storage facilities, Gazprom (OGZPY) CEO Alexei Miller says.
- Ukraine had said it stopped taking Gazprom's gas at the start of November because it had sufficient supplies until the end of the year.
- Tensions between the two countries over gas have intensified sharply in recent weeks, raising concerns of a repeat of supply problems that disrupted winter deliveries to Europe in 2006 and 2009.
Thursday, Nov 142013, 8:37 AM
Thursday, Nov 142013, 8:37 AM| Comment!
- Russia's Gazprom (OGZPY, OGZRY) says it is on track to deliver its highest volumes of gas to Europe since 2008, as demand for its pipeline gas spiked amid lower supplies of liquefied gas delivered by tanker.
- Gazprom profits slumped last year as sales in Europe dropped due to increased competition and lower demand, but the company says exports to Europe are up 15.6% YTD.
- Demand has been driven by European countries refilling stocks after a long, cold winter, while supplies of liquefied natural gas to Europe have dropped because they are being diverted to Asian markets, where prices are higher.
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buffett222:: US/ Europe aid to be endorsed over to Russia?
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buffett222:: Putin supposedly owns ~5%. Is he the ultimate activist investor?
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Dividend Growth Investor:: The linked article and my stocktalk discuss time of ALL my purchases, reasoning, etc. It includes all the facts.Just piece them together.
Dividend Growth Investor:: What I didn't mention is that this is a very small position for me in total. And this is not a recommendation for anyone to do anything.
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buffett222:: I have been trading in and out with long bias. Gazprom has 25% of worlds natural gas reserves. Chairman and Putin both own stock.