10.09.2014 - Russian petroleum industry needs Norwegian technology
Norway has the technology Russia needs for ensuring a sustainable development of its petroleum sector in the Arctic areas, Barentsnova reports.
Norwegian supply industry has for a while now been providing Russian petroleum sector with equipment for its offshore extraction activities. The Prirazlomnaya platform, which consists of about 80 % of Norwegian technology, is an example in this regard.
“Russia will need Norwegian technology also in the years to come,” says the head of the Russian trade mission to Norway, Tamara Chernysheva “We are doing our uttermost in order to maintain cooperation in the sphere of Russo-Norwegian business”, stated Chernysheva to the Norwegian magazine, Teknisk Ukeblad. Russian petroleum companies, Gazprom and Rosneft, plan a significant expansion of their activity on the northern parts of the Russian continental shelf in the years to come. Numerous of new vessels and drilling rigs, designed to operate in the harsh arctic environment, are therefore needed.
Norwegian oil industry has for a long time held a leading position worldwide, when it comes to development of offshore petroleum technology.
With a shared emphasis on the petroleum sector and a common border in the High North, collaboration in the field of natural resources management has become an essential holding point for the multifaceted Russo-Norwegian relation. Interaction in the area of the petroleum business has become a natural consequence of this.
Due to the tense diplomatic relations between Russia and the West, and the sanctions deriving from it, the business interaction in the sphere of petroleum has been brought to a halt. According to Chernysheva, Russian petroleum sector will face challenges due to the absence of Norwegian technology. “There will not be a full stop in the development on the Russian continental shelf in the north. We will find other partners and develop our own industry. Nevertheless, in some areas it will be hard to find substitutes for the Norwegian technology.”
The Barents Sea is said to hold great amounts of petroleum resources. At the same time, the environment in this area is particularly vulnerable. The need of operating safely in harsh and fragile conditions enhances the need of using only the best technology available on the market.
The High North policies of Russia and Norway share several common grounds. Among these is improvement in the standard of living through development of the energy sector. Murmansk region is planned to be a supply base in this respect as many of the large petroleum projects on the Russian shelf rely on the strategic position of the region.
Chernysheva recommends for Norwegian supply business to contact the Russian Embassy in Oslo, in order to get insight into the long-term plans of companies such as Rosneft and Gazprom. After all, the importance of being solution-oriented is as great as ever.
29.01.2014 - IKEA Group net profits increased
IKEA Group net profits increased by 3.1 percent to 3.3 billion euros.
In the 2010-2011 fiscal years, net profit rose by 10.3 percent and in 2011-2012 by 8.0 percent. Revenue growth also slowed, with 3.2 percent growth at 28.5 billion euros, The Local reports.
In 2010-2011 and 2011-2012 revenue grew by 6.9 and 9.8 percent respectively.
The Ikea Group did not explain the causes of the slowdown but said it had "gained market share in almost all markets" and posted "strong growth in Russia and China."
"Consumer spending is improving in many countries," chief executive Peter Agnefjäll said in the statement.
"While the challenging economic situation may not be over, there are positive signs."
In the beginning of January, Ikea admitted being behind in its target of doubling sales by 2020, which had "so far proved to be too aggressive", according to Göran Grosskopf, chairman of the Ingka Holding parent company that comprises all of the Ikea businesses.
Ikea confirmed on Tuesday that it was keeping its 50-billion euro sales goal for 2020.
"We have a long-term focus," Agnefjäll said. "We'll keep developing better products at lower prices, improving the shopping experience and becoming more accessible to our customers, for example through an improved service offer, e-commerce and continued expansion."
Ikea currently owns 305 stores in 26 countries, 14 of which are in Russia and employs 135,000 people worldwide.
IKEA sales in Russia in 2013 increased by 18%. The number of visitors has risen with 4% to 63.9 million people. At the same time, shopping centers MEGA (Invest project of the Russian unit IKEA - IKEA Shopping Centres Russia) were visited by 261 million people, tenants sales grew by 10%.
Source: www.thelocal.se, ITAR-TASS
05.10.2013 - Rosneft to buy Russian oil assets from Lundin Petroleum
Rosneft has signed an agreement to buy into the Russian assets of Sweden's Lundin Petroleum, increasing its upstream asset base, Rosneft head Igor Sechin stated according to The Moscow Times. As part of the agreement, Rosneft and Lundin have agreed to investigate possible cooperation in the Norwegian and Russian offshore sectors, the Swedish firm said in a separate statement.
Under the deal, Rosneft acquired 51 percent in Petroresurs — a joint venture of Lundin and trading house Gunvor with 70 and 30 percent respectively — which owns exploration license for the offshore Lagansky Block, located in the north Caspian area. Lundin Petroleum will have an indirect 34.3 percent interest in the Lagansky block license through its shareholding in LLC Petroresurs, the company said.
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Source: The Moscow Times