Add to favorite
 
123
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS
russian visa


SPIEF 2014: Multi-Billion Contracts Despite Political Pressure
May 26, 2014 13:54


Photo Credit: http://www.eer.ru
The St Petersburg International Economic forum has generated 269 billion roubles in deals in spite of the pressure from Washington on participants.
According to the Economic Development Ministry, more than 130 contracts and memoranda were signed at the event which featured around 6,500 high-profile guests from across the world.
Business leaders, investment gurus and government officials came together to discuss ways to strengthen confidence in turbulent times.
Some of the key participants refused to arrive, including heads of Boeing, International Paper, Goldman Sachs, ConocoPhillips, Siemens and others due to political pressure from the US amid the tension over the Ukraine crisis.
One of the biggest beneficiaries was Rosneft, which signed about 50 contracts at the forum, including with Norway’s Seadrill, Mubadala Petroleum, Azerbaijan’s SOCAR, Venezuela’s PDSVA, India’s ONGC and Italy’s Pirelli.
According to an official statement, state-owned Petroleos de Venezuela SA will supply OAO Rosneft with US$2 billion in crude and oil products.
“Venezuela is seeking external financing as it combats shortages of goods and medicines and 59 per cent inflation in a country with the world’s biggest oil reserves,” reads the press release.
Rosneft and PDVSA, as the state company is known, have five oil joint ventures in Venezuela, the company said.
Rosneft has become the world's leading publicly traded oil producer after it took over BP's Russian venture TNK-BP for $55 billion in March 2013. Rosneft has a vast and high-quality reserve base, with total proved hydrocarbon reserves of 22.8 billion barrels of oil equivalent.
Also, France’s Total inked a deal with Lukoil on a joint venture to explore and develop the tight oil potential of Siberia’s Bazhenov formation. The deposit is believed to contain substantial reserves of tight oil.
Qatar’s sovereign fund has announced an additional $2 billion investment together with Russia’s Fund of Direct Investment.

Gazprom signed a deal to buy an annual amount of 3 million tonnes of LNG from Yamal LNG for a period of 20 years to comply with its commitments to Indian consumers. 




Author: Mikhail Vesely

Tags: SPIEF 2014 St. Petersburg Russian business Russian economy Ukraine crisis 

Next Previous

You might also find interesting:

Russian Banks Issued More Than 334,000 Bad Loans Football: Gameweek 28 Russian legal system: in urgent need of reforms New regulations against abortions Fitch Upgraded Russia's BBB- Rating









Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

-8

search on the map
TAGS:
St. Petersburg  Lady Gaga  Russian law  International Media Art Festival "Cyberfest"  Russian history  Krasnoyarsk  All-Russian Award For Fidelity to Science  Installations  ExxonMobil  Olympic Games 2012  Russian opposition  Russian Film Actors  Russian scientists  Safari Park of Gelendzhik  Flor Garduno  animation  oil to China  Dagestan  Russian theatre  corruption  Russian business  Russian Literature  Feodor Bondarchuk  Moscow State University  Museums in Samara  economic amnesty  Moscow  El Lisitzky  Archeology  Russian tourism  Gorky Park  Russian Cinema  Active Travel  Exhibitions in Moscow  Russian musicians  Golden Mask  Russian Character  Biography  Vologda region  Russian souvenirs  Russian courts  Chelybinsk  Concerts in St.-Petersburg  BaikalAmur Mainline  Rolling Stone  Ryazan  Mercedes-Benz Fashion Week Russia  Book Tickets for Ballet  Sewing  New Year 


Travel Blogs
Top Traveling Sites