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:
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:

Renault Is Going To Use Moskvich Brand Top 3 Videos From Russia Russia Increased the Investments in US Treasury Securities Russia May Grant a Loan To Iran Media Buzz: Will US Sanctions Over Crimea Work?

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

Flowers Delivery

search on the map
Archeology  Vladimir Zheleznikov   Vandalism  Moscow  Russian shops  Russian directors  Elections 2012  Market Regulation  Russian opposition activists  Karlovy Vary Film Festival  Russian-French economic forum  Illegal Housing  The Great Ball Exhibition  St. Petersburg attractions  Russian painters  eternal flame  Pyotr Semenov-Tian Shansky  Pension Fund  Konstantin Stanislavski  Exhibitions in Moscow  Russian Monuments  Moscow hotels  Russian history  St. Petersburg  Tula  Vladivostok  Norman Quartet  Natural Science Exhibitions  Old Kazan  Aleksey Savatyugin  Russian transport  aircraft  Russian Theater  Russian Arts and Crafts  Amur State University  Sochi 2014  Spacecrafts  Russian Literature  Mercedes-Benz Fashion Week Russia  Patriotic Musical Holding  golden ring  Cars  Znamensk  Rosneft  Russian business  Wildlife  Russian Cinema  Russian tourism  Pushkin Museum of Fine Arts  AFK Sistema 

Travel Blogs
Top Traveling Sites