The hottest Russian oil company and BP jointly dev

Rosneft and BP jointly develop shale oil

Rosneft and BP jointly develop shale oil

May 27, 2014

[China paint information] according to foreign media reports, BP and state-owned Rosneft signed an agreement to jointly develop Russian shale oil at the 18th St. Petersburg International Economic Forum held from 22 to 24. This once again highlights Russia's intention to accelerate cooperation with foreign energy enterprises

on the last day of the forum, Russian enterprises signed cooperation agreements with many foreign oil enterprises. According to foreign media reports, witnessed by Russian President Vladimir Putin, Igor Sechin, CEO of Rosneft, and David Campbell, President of BP Russia, signed a cooperation agreement worth $300million to jointly develop shale oil in the Volga Ural region in central Russia. Rosneft will hold 51% of the shares of the joint venture, which will result in poor value for Britain, and Petronas will hold 49% of the shares. Rosneft has also signed cooperation agreements with dozens of other energy enterprises. In addition, total of France and Lukoil of Russia also signed a cooperation agreement on the development of bagenov shale oil

this is the first large order signed between Russian oil companies and Western oil companies since western countries imposed sanctions on Russia due to Ukraine in March this year. Because of his close relationship with Putin, Sechin has become one of the targets of sanctions by western countries since turning off the power supply of the manipulator and the source of the impact motor in March this year

due to resistance from the west, many senior executives of large American companies did not attend the forum, but the presence of senior executives of many European oil companies became the highlight of the forum

at present, BP holds about 20% of the shares of Rosneft. According to Reuters, Putin met with many European energy companies on the 24th to test the compressive strength of raw materials such as concrete, cement mortar and concrete, including Bob Dudley, CEO of BP. Dudley said that he was very happy to be part of Russia's oil industry. He said that Putin encouraged enterprises to invest in the development of shale oil in Russia, and the open and cooperative relations established between Russia and global enterprises were conducive to the development of the energy industry

Putin said at the Forum on the 24th that Russia will not only maintain and improve its position as the world's main energy supplier, but also become one of the pioneers in changing the global energy pattern

Russia is one of the world's major oil producers, with a current production of 10.5 million barrels per day, but most of the production comes from Siberia in western Russia, where oil resources are increasingly depleted. Therefore, Russia is accelerating the development of non-traditional oil resources such as shale oil

like the United States, which currently has the largest shale oil production, Russia is also rich in shale oil reserves. According to the prediction of the U.S. energy information administration, the exploitable shale oil resources in Russia are 75billion barrels, far exceeding the 58billion barrels in the United States

in recent years, due to the development of shale oil development technology, the output of shale oil in the United States has increased rapidly, making the oil import of the United States decrease year by year, and there is a trend to increase oil export. Generally speaking, the oil and natural gas prices in Asia are generally higher than those in Europe and North America. Once the United States liberalizes oil export restrictions, Asia will give priority to becoming its important export market. Solution: therefore, many Russian enterprises are also stepping up business contacts with Asian enterprises. Russia is already supplying crude oil to Asia through the Siberia Pacific pipeline in the East

at present, Russia provides preferential policies in tax and other aspects to enterprises investing in the development of non-traditional oil resources in Russia, which is also a reason for the recent frequent cooperation between western enterprises and Russian oil enterprises. Rosneft recently signed an agreement with ExxonMobil and Statoil to jointly develop unconventional oil resources