ENI, Ukraine Oil and Gas

Ukraine is completely disappointed in production of shale gas

Information has appeared on the Internet that leaders of the Italian large oil and gas enterprise Eni signed a document that implies a withdrawal from a project for geological exploration and produ

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Naftogaz starts gas deliveries to Ukraine through subsidiary - Naftogaz Trading Europe

The National Joint Stock Company Naftogaz Ukrainy started supplying natural gas to the country through the subsidiary Swiss company Naftogaz Trading Europe S.A. This was announced on Monday.

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Europe does not need "Nord Stream - 2". The European Commission acts against "Gazprom".

Life magazine was able to get acquainted with the preliminary decision of the European Commission on the long-suffering project of the expansion of the gas pipeline "Nord Stream".

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Zakhidgasinvest to drill the first well in the Ukraine by the end of 2015

The first joint well of Eni (Italy) and Cadogan (Great Britain) will be drilled in the Ukraine by the end of 2015.
By the present moment the preparatory works have been held, a project of the program of joint works has been worked out and approved.
Zakhidgasinvest – a JV of Eni and Cadogan – plans to drill the first well in the Ukraine at the end of 2015, the Minister of Ecology and Natural Resources of the Ukraine, I. Shevchenko said.
It is planned to start drilling at the end of 2015 though it was previously planned to start the works in 2013, I. Shevchenko said.
The Minister added that by various reasons the start of the drilling has been postponed a few times but the preparatory works have already been held.

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Russia decides to cancel South Stream

Russia has decidd to cancel the South Stream pipeline.
As "the Kommersant" predicted, Russia has abandoned the South Stream pipeline - one of its biggest projects, the geopolitical importance of which initially exceeds the economic. After the conflict in the Ukraine, the EU firmly blocked the project, and now instead of the South Stream "Gazprom" is going to lay a pipeline to Turkey to at least partially abandon the transit through the Ukraine and use more than $ 25 billion of the already implemented investments. However, the experts believe that it is better to completely abandon the project: Turkey can become a problem user for "Gazprom".
Russia could not build the South Stream pipeline with the opposition of the European Commission and the lack of resolution of the Bulgarian authorities and therefore rejected the project, Vladimir Putin stated yesterday during a visit to Turkey. Thus, as "the Kommersant" predicted on November 10th "Gazprom" abandons one of the most ambitious and expensive projects in its history, after eight years of negotiations, the preparatory work and endless disputes with the EU. Instead, as "the Kommersant" wrote on December 1st, "Gazprom" will lay the pipeline into Turkey with the same capacity that was assumed for the South Stream: 63 billion cubic meters.

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Cadogan Petroleum notes the absence of a significant influence of the extraction tax increase on its financial status.

The Cadogan Petroleum Plc company (the United Kingdom) stated that the oil and gas extraction tax increase does not significantly affect the financial condition or the work program of the company, the statement of the company informs.
The report states that Cadogan Petroleum will continue to evaluate the impact of the changes in fiscal policy and adopt such financial and operational measures that it deems necessary to protect the interests of the company and its shareholders.
The company also reported that drilling a new well on the Debeslavetsk field (the Ivano-Frankivsk region), previously scheduled for the end of September, was postponed till November due to the double-check of the drilling coordinates.

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The western oil giants recognize that they can not do without Russia.

Europe could face the disruptions in the supply of gas because of the crisis in Ukraine, but the key to the energy needs of the West – is Russia, the officials of the oil giants ExxonMobil and BP stated at the World Petroleum Congress in Moscow, AFP reports.
"The fact that Europe is dependent on Russian gas, and Russia is dependent on the revenues from Europe, creates an important link, and I believe that energy can be a bridge", - the CEO of BP, Robert Dudley stated.
BP announced its intention to continue the cooperation with the Russian oil giant "Rosneft", despite the fact that its president Igor Sechin was named among persons exposed to the sanctions because of the position of the Russian Federation on the Ukraine.

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USA and EC Sanctions – Russian oil and gas companies may be limited in technologies

The USA and Europe may impose new sanctions against Russia that will concern the oil and gas industry, which is a key sector for the country. It could be prohibited for foreigners to use new technologies in work with Russian companies in this sector. Sanctions can have an impact on the development of the shelf and difficult reserves. Such projects are at early stages, thus the effect from the restrictions will be suspended and risks of the Russians will be shared by their foreign partners in full measure. But Russian oil and gas companies need new technologies in the long-term perspective, however the companies don’t hurry to develop them.

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Europe is not able to survive without Russian gas yet.

Currently,European countries can not survive without Russian gas, Paolo Scaroni, the head of the Italian oil company Eni, stated in an interview to Rai News 24.
"At the moment Europe can not survive without Russian gas. In particular there are several countries, which consume up to 50 % of their total supply. Italy could abandon Russian gas, but that would give us a lot of problems", - he admitted.
Scaroni also stated that together with the Ukrainian leadership Eni is currently exploring the possibility of reverse gas supplies, but realizes that it will not bring the Ukrainians a lot of blue fuel.

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Russia not to share the former Ukrainian deposits in the Crimea?.

The projects of foreign investors in Crimea are at stake.
After entering the Crimea to Russia on his shelf the Russian legislation will begin to work prohibiting the access of non-state and foreign companies. In this regard, "Chernomorneftegaz", which holds the license on the Crimean shelf, will have to transfer them to "Gazprom". The PSA companies with Eni, EdF and "The Waters of Ukraine" will be under threat of collapse unless Moscow does not provide the foreign investors "the grandfather clause", which once kept the conditions for Sakhalin PSA.
Yesterday, Gennady Khramov, the Deputy Minister of Natural Resources and Ecology, stated that the land on the Crimean shelf after its entry into Russia can qualify for federal "with the application of the rules and regulations of the Russian legislation". Only state-owned companies with relevant experience for at least five years can work on the shelf, that is, "Gazprom" and "Rosneft". But, an official stated, the extension of the provisions of the law on the existing agreements will be further discussed, there is no decision on this matter.

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