Articles by Anna Raff



Barter Use Triples for Gazprom Customers

Beset by higher tariffs, consumers are finding it increasingly difficult to pay for their natural gas in cash, reversing a three-year trend, government statistics show.

Luzhkov, Abramovich Duke It Out Over Oil

A telephone call between Moscow Mayor Yury Luzhkov and oil magnate Roman Abramovich in early August did little to subdue the passions swirling around the Moscow Oil Refinery.

Alfa, Vostok-Nafta Join in $200M Fund

Alfa Group has teamed up with Vostok Nafta -- led by Swedish energy magnate Adolf Lundin -- to create a $200 million direct investment fund.

75% of Slavneft Will Go On Block

The government intends to sell its entire stake in one of the country's most scandal-ridden oil companies, a turnaround that has prompted ferocious bidding ahead of the actual auction.

Moscow, Kiev Sign Plan to Ship Gas

Russia and Ukraine on Monday signed off on the basic principles for forming an international consortium to manage the transportation of natural gas from Siberia to Western Europe, a key source of revenue for both governments.

Strategic Oil Reserve Idea Gathers Pace

Washington is keen to share its experience and know-how in helping Russia create a strategic oil reserve.

Rosneft Unveils Ambitious Revamp

In a sign of increasing government involvement in the energy sector, state-owned Rosneft said Monday it planned to triple oil production and increase natural gas output tenfold by 2020.

Alfa Group Looks for Oil, Partner in Sakhalin-6

An Alfa Group subsidiary announced Friday that it has begun looking for oil off the coast of Sakhalin -- as well as a strategic partner to help finance the venture.

Itera Adds Fuel to Georgian Fire

Already reeling from a Kremlin threat to strike Chechen bases in the strategic Pankisi Gorge, Georgian President Eduard Shevardnadze must now engage Russia on another front: securing stable gas supplies.

LUKoil Financial Officer Abducted

Masked gunmen kidnapped LUKoil's chief financial officer as he was being driven to work Thursday, the oil giant said.

Gazprom Makes Its Case to Drivers

Former Gazprom CEO Rem Vyakhirev tried not to breathe too deeply on his way to the gas monopoly's headquarters in southwest Moscow.

Prosecutors Target Gazprom Licenses

Like many other residents of the Astrakhan region's Kharabali district, Nina Popova has grown tired of using a coal oven to warm her home.

Sibneft Teams Up With Baker Hughes

In a move to increase competition for its contracts, oil major Sibneft signed a five-year agreement Tuesday with Baker Hughes, the world's third-largest oil field service company.

Bashkortostan Paves Road to Privatization

By signing a cryptically worded decree, Bashkir President Murtaza Rakhimov showed his readiness to loosen his grip on Bashkortostan's tightly held energy companies.

LUKoil Sued Over Baltic Sea Extraction

Environmental activists have filed a suit against LUKoil that claims Russia’s largest oil company improperly conducted public hearings on a project to extract oil in the Baltic Sea.

Gazprom Acquires 25% Stake in Stroitransgaz

Gazprom has acquired a 25 percent stake in its long-time general contractor Stroitransgaz, throwing into doubt plans to create its own construction subsidiary.

Yukos Takes Over Key Baltic Refinery

The fallout from a U.S. company's financial troubles has made its way to the Baltics -- and Russia's second-largest oil company is capitalizing on the misfortune.

LUKoil, Sibneft Vie for Kuwaiti Fields

Oil majors Sibneft and LUKoil are contending for key roles in a delayed project to boost oil production in northern Kuwait.

Gazprom's 2001 IAS Profit Dive Deceives

On paper, Gazprom's net profit in 2001 plunged 97 percent to just $372 million calculated to international accounting standards, according to the gas giant's financials, which were released piecemeal Thursday and Friday.

Gazprom Posts Pretax Profits of $6.4Bln Under IAS for 2001

Gazprom on Thursday released an incomplete picture of its 2001 financial results under international accounting standards that showed a 10 percent rise in pretax profits to 210.3 billion rubles ($6.38 billion).

Oil Thieves Make Off With 10M Tons a Year

Using blowtorches, rubber tubing and cisterns, Russia's oil thieves cost the industry millions of dollars as they feed off the arteries of the national pipeline system.

Goldovsky Set Free for $630,000

After rejecting three previous requests, a Moscow court Monday released former Sibur president Yakov Goldovsky on bail of $630,000.

Rosneft, Itera Move on Afghan Oil, Gas

Russian energy companies have agreed to help rebuild Afghanistan's devastated oil and gas industries in hopes of securing lucrative government contracts as well as a strategic hold on the region.

Luzhkov, Oligarch Have Talk Over Gas

After a late night telephone call between Moscow Mayor Yury Luzhkov and Roman Abramovich, full production resumed Wednesday at the Moscow refinery.

Sibneft Warns on Profit, Mum on TNK

The nation's fifth-largest oil company, Sibneft, said Monday that it expects its net profit to shrink from $1.3 billion last year to $1 billion in 2002 because of higher taxes and low domestic oil prices.

Kremlin Kills Plan To Retake Resources

The Kremlin has rescinded plans to renationalize the country's natural resources in the latest stage of an ongoing battle between oil companies and the presidential administration.

LUKoil Privatization Sale Canceled

The government left investors perplexed Thursday by calling off its biggest privatization of the year, the much-anticipated sale of 5.9 percent of LUKoil.

U.S. Will Fund Oil Study in Siberia

The United States will fund the exploration of oil and gas fields off the Arctic coast of eastern Siberia, the first show of energy partnership with Russia since the May presidential summit, U.S. Energy Secretary Spencer Abraham said Thursday.

Uncertainty Hangs Over LUKoil Sale

Uncertainty reigned from morning until late Wednesday night as investors waited for the government to give the green light to Russia's largest privatization of the year.

Alekperov Joins Club of Billionaires

Vagit Alekperov, LUKoil's president, owns 10.38 percent of the company, a stake currently valued at $1.26 billion, according to a share sale prospectus.