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Statoil did not discover oil in the controversial Apollo well near Bear Island.

Billions are invested in the Zvezda yard outside Vladivostok to make it capable of meeting Russia’s growing demand for ice-protected ships and platforms.

Deputy Director of Arktikmorneftegazrazvedka, owner of the Kolskya jack-up rig that overturned and sank during towing last December, has been fired after the prosecutors have found that several mistakes were made during the towing operation.

The two companies could invest $35-40 billion in developing fields in the Barents Sea in a new joint-venture where Statoil will get 33,4 percent of the shares, according to the landmark agreement signed in Moscow on Saturday.

Russia’s third biggest oil producer is negotiating with foreign companies over a possible partnership at the Dolginskoye field.

The partner deal between Gazprom, Statoil and Total expired on July 1st, but the bumpy drive to develop the troubled Shtokman project continues.

Desperate oil companies forces day rates for drilling rigs to reach new heights. Analysts believe day rates will be over $700,000 this autumn.

Shipping companies and oilmen carefully follow this week’s operations of the 47 thousand ton tanker “Neva” in the Ob Bay.

While the government is getting ready to let in private companies, state-owned Rosneft is fighting for its exclusive monopoly position.

Reactor No. 1 at Kola nuclear power plant was shut down less than a day after start up.

A troubled regional economy and a high level of dependency of heating oil forces Murmansk into negotiations with the federal Ministry of Energy.

The Nordic market is losing interest in Russian electricity.

The Shtokman field is unlikely to be launched before after 2030, information from Gazprom indicates.

I would like companies like Schlumberger and Halliburton to listen to what we have to offer in the Arctic, the Rosneft President told an audience of US. oilmen.

Putin assigns Gazprom to recall the second line of “Yamal-Europe” gas pipeline construction.