Energy Business Update: Gazprom DELAYS Shtokman Progress, Shell Awaits Permit To DRILL
Oao Gazprom Adr (OGZPY.PK) has indefinitely delayed the development of its huge Shtokman gas field, which is the most recent postponement of its attempts to access the field in the Russian Arctic in partnership with France’s Total, S.A. (NYSE:TOT) and Norway’s Statoil ASA (NYSE:STO). Disputes among the companies involved concerning investment terms have plagued the progress of the development.
Investing Insights: Market Recap: Stocks Fall, Oil Skids, Pandora POPS.
The United States Department of the Interior gives the go-ahead to Royal Dutch Shell (RDS.A)(RDS.B) for its prep work on a well in the Chukchi Sea offshore Alaska, but a final permit for drilling that would be sufficiently deep to find oil has not of yet been forthcoming, according to Dow Jones.
Investing Insights: Oil ETFs: The Top 10 Exchange Traded Funds for Your Oil Investing List.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.