Add to favorite
 
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. 


Sources: http://itar-tass.com http://www.gazeta.ru http://stats.forumspb.com http://www.rosneft.com 

Author: Mikhail Vesely

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

Next Previous

You might also find interesting:

Russia Scoops World Media Coverage Buzz Barometer: Press Debates Ugly Fan Behavior, UEFA Silent South Stream Gas Pipeline Abandoned - Or Shelved? Promsvyazbank Posts 1H2015 Financials Russia - China Trade Turnover Grows





comments powered by Disqus




Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

Russian Parliament in Action

search on the map
TAGS:
Mars  Prince Vladimir  Russian tourism  Urban Garden  Russian education  Russian Literature  Volgograd Architecture  Parks in Moscow  Russian political parties  Gazprom Neft  Ufa  Ust-Ilimsk  International space station  Russian Coat of Arms  Exhibitions in Moscow  Russian Cinema  the Blockade  Oboronservis scandal  Russian Investigative Committee  Politics  Moscow-City  Kolomenskoye Museum Reserve  Launch Sites  Russian oil companies  Christmas Trees  Leo Tolstoy  Russian painters  Folk Arts  Klyuchevskoy Volcano  Archeology  Mercedes-Benz Fashion Week Russia  Kamchatka  Painting  Russian finances  Russian history  Installations  Kremlin  Russian church  Natural Calamities  Russian business  nuclear power  Vologda  Tunguska  Russian medicine  Great Patriotic War  Festivals in Moscow  Live Systems Museum  Moscow  Russian politics  Olympics 2012 


Travel Blogs
Top Traveling Sites