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Showing posts with the label Russian Power and Petroleum Resource

Rosneft now chooses India over the Chinese ( Source- Russia & India Report / Author- Alexey Lossan, RIR)

Image credits- Wikimedia Commons / Author- A Savin Source- Russia & India Report Author- Alexey Lossan , RIR The state-owned ‘Rosneft,’ Russia's largest oil company, has decided to sell nearly half of the largest oil deposit in Eastern Siberia to Indian investors. The company has ceded 49.9% of "Vankorneft" shares to a consortium of Indian public sector oil majors. Of these, the Oil and Natural Gas Commission (ONGC) will get 26% of the shares, while 23.9% will go to Oil India Limited (OIL), Indian Oil Corporation (IOC) and Bharat Petroleum (BPL). ‘Vankorneft’ owns a deposit with 500 million tons of oil and condensate reserves and 182 billion cubic meters of gas, reports the Rosneft press service. All the necessary documents for the sale of deposits will be signed "in the shortest time possible,” the company press release said. Earlier, Chinese players were considered as potential investors. "India is a partner which is easier to negotia

Will China Bail Out Putin? ( Source- The Diplomat / Authors- Andrew Collier, Arthur Peng and Abigail Collier)

Image credits- RT.com Source- The Diplomat Author- Andrew Collier, Arthur Peng and Abigail Collier  China has been increasingly willing to help countries experiencing financial distress. This is part of a larger attempt to follow President Xi Jinping’s desire to make China “more engaged with the world.” Stepping in to help Russia would be another notch in China’s bailout belt. However, despite China’s increased economic support for Russia, China’s support is likely to remain indirect and limited. Chinese bank loans and natural resource imports have provided Russia with some substantial economic advantages. Despite energy demand sinking to its lowest level since 1992, China’s imports from Russia have climbed in price and volume. This has been accompanied by Beijing’s promises for substantial infrastructure projects and long-term agreements. Likewise, several Chinese banks, including the Export-Import Bank of China, Bank of Harbin, China Export & Credit Insurance, a

China Can't Solve Russia’s Energy Technology Trap ( Source- The Diplomat/ Author- Morena Skalamera)

Image credits- Wikimedia Commons/ Author- Ulrich Source- The Diplomat Author- Morena Skalamera While the EU has been historically dependent on Russian oil and gas supplies, this dependence has proved to be a two-way street, with Russia dependent on European goods and technology. This trade has nonetheless remained asymmetrical: Russia imports equipment, consumer goods, and high value-added products (such as luxury garments, cars, and foods), while it exports raw materials. Today Russia’s hydrocarbons are becoming harder to find and more expensive to produce even though the country’s technologically underdeveloped economy relies increasingly on the revenues they ensure. Moreover, despite possessing over 30 percent of global gas supplies and unconventional gas reserves that are estimated to be ten times larger than those in all of Europe, today’s Russia is heavily reliant on Western technology to boost energy extraction and develop these promising resources. Russia’s ec