A winter view from the hill to the LNG plant Sakhalin island, Russia's Far East
Rosneft courts trouble with Sakhalin partners
Chief executive Igor Sechin has sharpened his knife for another corporate spat
Rosneft is putting the squeeze on its consortium partners in the Sakhalin-1 project in the Russian Far East, in a lawsuit that's likely unsettling other foreign majors considering investment in the country. The Kremlin's national oil champion is suing all the Sakhalin-1 co-owners, including ExxonMobil and its own Rosneft units, for 89 bn roubles ($1.3bn) over alleged "unjust enrichment" over the past three years, according to filings made with the Sakhalin Oblast Arbitration Court seen by Petroleum Economist. One of Russia's biggest foreign investment projects, 80% of Sakhalin-1 is owned by US, Japanese, and Indian companies. It is located on and offshore at Sakhalin island, which lies some
Also in this section
19 December 2024
Deepwater Development Conference welcomes Shell’s deepwater development manager to advisory board for March 2025 event
19 December 2024
The government must take the opportunity to harness the sector’s immense potential to support the long-term development of the UK’s low-carbon sector
18 December 2024
The energy transition will not succeed without a reliable baseload, but the world risks a shortfall unless more money goes into gas
18 December 2024
The December/January issue of Petroleum Economist is out now!
