Entries from Energy Wire tagged with 'Russia'
Wall Street's troubles have rippled through to Moscow's Arbat Street as well as Main Street.
The Wall Street Journal has reported that the Russian government let the Alpha Group, controlled by tycoon Mikhail Fridman, tap a Russian government fund to help pay back a $2 billion loan to a group of banks led by Deutsche Bank.
That would have repercussions at the Arbat Street headquarters of Moscow-based oil company TNK-BP, where Fridman and his allies earlier won concessions from BP about the management of their Russian joint venture, including the ouster of the BP-chosen chief executive. Not even two months after that victory, Alpha's financial constraints have everyone recalculating.
Russia, Iran and Qatar held talks in Tehran yesterday about forming a cartel for natural gas that would resemble the OPEC cartel for oil. But the structure of the natural gas business makes it unlikely that a gas OPEC would get off the ground anytime soon.
Paolo Scaroni, the chief executive of the Italian oil giant ENI, stopped by the Post this week and chatted about the state of the oil world. ENI's revenues place it among the world's biggest 25 companies of any kind. The company operates in 70 countries, with exploration and production operations from the Gulf of Mexico to Nigeria to Kazakhstan. Much of Europe's natural gas imports flow through its pipelines, and it retails gasoline under the AGIP brand.
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