Rosneft buys oil stake in Gulf of Mexico

Russian oil and gas company Rosneft has bought a stake in the Gulf of Mexico, taking a┬áthird (30%) of ExxonMobil’s 20 deepwater exploration blocks. Under the agreement, ExxonMobil will keep a 70% stake in each block and remain the main operator and Rosneft’s subsidiary Neftegaz America Shelf will own the rest. Igor I. Sechin, President […]

$5.4 billion Caspian Pipeline Consortium expansion

Chevron Neftegaz Inc, an affiliate of Chevron Corporation has marked the start of the construction phase of the $5.4 billion expansion of the Caspian pipeline. The capacity of the 900 mile pipeline, which carries crude oil from western Kazakhstan to a terminal in the Black Sea, will increase to 1.4 million barrels per day from […]