Tag Archives: Europe

The two sides exchanged views on Tehran-Moscow energy cooperation roadmap.

Rosneft is Germany’s third biggest oil refining market player. with aggregate capacity of 12.5 million tonnes a year.

Sakhalin-1 is operated by Exxon Neftegaz Ltd. through which ExxonMobil owns 30 percent in the project.

Rosneft supplies Germany with fuel via petrol stations operated by its partners BP and Total.

During the first part of the route. through the Laptev Sea. the vessels had to sail in up to two meters thick very close drift ice.

Opponents claim sanctions unfairly penalize US firms while allowing their foreign rivals such as Royal Dutch Shell and BP to operate in Russia.

Lukoil. Russia'.s second-biggest oil producer. has increased output by 29.000 bpd.

Sechin said last month he was satisfied with oil prices rising to $70-$80 per barrel.

CNPC has now a 30 percent stake. while Iranian company PetroPars holds the remaining 19.9 percent.

Efforts now need to be made on devising a financial mechanism to overcome the US sanctions.