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 Masterworks Go Under Hammer Top 7 Russians in the Guinness Book of Records Timchenko's Timely Exit Cushions US Sanctions Punch Oil And Gas Forum Moody's Downgrades Russia to Junk, Outlook Negative









Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

-8

search on the map
TAGS:
Kargopol  Russian tourism  Buryatia  Rock Music  Gelendzhik  Russian roads  Pskov  Viktor Vekselberg  Russian Literature  Yakutsk  Classical Music  Resources  Sochi  Concerts in Moscow  Russian Cinema  Winzavod  St. Petersburg  Astrophysics  Inter-Continental Hotel Group  Daniil Kharms  Russian courts  Vandalism, Old Moscow  bloggers  Konstantin Altunin  Modern Art  Mercedes-Benz Fashion Week Russia  Exhibitions in Moscow  Russian business  Archeology  school shooting  Satka  Russian prices  Moscow  Isaak Brodsky  Flying Laboratory  Konstantin Latyshev  Russian history  Discount Tickets  Comics  The Arctic  Amur Region  BurgasAlexandroupoli pipeline   Regional Cuisines  Orthodox Church  Russian law  Moscow weather  Leningrad  Victory Day  Afisha Picnic  Olympic Games 2012 


Travel Blogs
Top Traveling Sites