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  

Next Previous

You might also find interesting:

Global Press Shocked by Russia's Draw vs Moldova Great Talent Ahead of Time - Andrei Tarkovsky's Imprint on Russian and World Cinema Construction of the Nord Stream-2 Gas Pipeline Started in Germany Francois Hollande Respects Depardieu Move To Russia The Ministry of Finance Came up with New Ways to Return Capital from Abroad









Comment on our site


RSS   twitter      submit



TAGS:
Rosoboronexport  St. Petersburg  Russian roads  stowaways  Lipetsk   Robots  Ornaments  Fencing  Exhibitions in Moscow  Russian wedding custom  Sochi  Art Exhibitions  Archeology  Crimea  Russian tourism  Exhibitions in St. Petersburg  Republic of Bashkortostan  Canada  Spacecrafts  Russian science  Russian economy  Russian spa resort  Russian business  Andrei Konchalovsky  incident  State Museum of the East  Silk Road  Arkhangelsk  Russian churches  Army  Vologda Monuments  Siberia  Sochi Olympics  Russian scientists  Russian Animation  Voronezh   Pavel Sokolov-Skalya  Bashkortostan Republic  Old Kazan  Darwin Museum  Russian Cinema  Shishkin  Russian transport  Moscow  rare coins  Mercedes-Benz Fashion Week Russia  Bulgaria ship accident  criminality  Exhibitions in Irkutsk  train tickets Saransk 


Travel Blogs
Top Traveling Sites