Word: transneft
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...develop the field. In return, China will get 100,000 bbl. to 160,000 bbl. a day for more than 20 years. And just before the Brazilian deal, Beijing agreed to lend $15 billion to cash-strapped Rosneft, Russia's largest oil company, and an additional $10 billion to Transneft, Russia's biggest pipeline company. The loans will be paid off not in cash but in crude--300,000 bbl. a day from the huge east Siberian oil fields. That's about 4% of China's current demand for crude oil. Over the 20-year life of the deal, Beijing...
...days before the Brazilian deal, China secured what may be the most strategically significant agreement of all: Beijing agreed to lend $15 billion to cash-strapped Rosneft, Russia's oil major, and another $10 billion to Transneft, Russia's biggest pipeline company. The loans will be paid off not in cash, but in crude - 300,000 barrels a day from the huge east Siberian oil field. That's about 4% of China's current total demand for crude, secured on very favorable terms. Over the 20-year life of the deal, Beijing will effectively be paying about $20 per barrel...
...Many officials apparently took that as a directive to tap into the Russian oil that is being pumped to Poland and Germany through Belarus. Transneft, Russia's state-owned transporting company, said today that Belarus started siphoning off Russia's oil on Jan. 6 - diverting 79,000 tons in two days. Early Monday, Polish officials said that Belarus blocked the Russian Druzhba ("Friendship") oil pipeline that carries oil to Poland and Germany. Russia then closed the pipeline to prevent more Belarussian theft. "Now there is a threat to the fulfillment of international contracts between Russian companies and companies in Western...
...Britain's privately-owned Pennine Natural Gas. The next sector ripe for state consolidation may be the pipeline business. According to official documents seen by Time, there are moves afoot within the Kremlin to create a huge oil and gas pipe-line monopoly based on an existing pipeline operator, Transneft. In February, Russian Industry and Energy Minister Viktor Khristenko submitted a report to Putin suggesting that Transneft acquire Russia's stake in the Caspian Pipeline Consortium (CPC), a company partly owned by the governments of Kazakhstan and Oman, which operates a 1,500-km oil pipeline from western Kazakhstan...
...Illarionov: By using economic weapons-particularly, energy as a weapon-RAO UES bought a power station in the Transdniester Republic (a breakaway Moldova province, very much under Moscow's influence), and then cut off Moldova from this key power supplier, until Moldova met its terms. Transneft (Russia's state-owned oil pipe monopoly), blocked oil flowing from Kazakhstann to Lithuania, because Russia coveted Lithuania's oil refinery. The latest such case is abruptly raising natural gas prices fourfold for Ukraine...