Tag Archives: Igor Sechin

The September 25 independence referendum in oil-rich regions of Iraqi Kurdistan and Kirkuk led to a military operation driven by the Iraqi government forces.

The state-controlled major recently sold a 30 percent stake in its giant Zohr gas field in Egypt to Rosneft.

The agreement comes amid tensions over Kurdish claims to sovereignty with reports of armed clashes between Kurdish forces and Iraqi government troops.

Taking a role in this emerging hotspot is exactly what Rosneft is looking for.

OPEC realized the importance of working with Russia two decades ago. but the Russians did not understand the importance of working with OPEC until lately.

Russia and China are growing their partnership and investment links as Moscow scrambles to find ways to fund oil and gas projects that are made difficult under Western sanctions.

The Russian state-run oil giant said the cost of its acquisition is $1.125 bn.

Russian oil production has been steady. at around 10.9 million bpd due to a global pact to reduce total production by around 1.8 million bpd to support weak oil prices.

Sechin’s oil price forecast is basically in line with Russia’s economic estimates from earlier this year.

Recent exploration over the past two years has more than doubled the field’s estimated reserves to about 813 million boe.