July 2021 | ISSUE No. 331 | USRCC Business Newsletter
USRCC Upcoming Events
The U.S. aerospace sector is considered the largest in the world and is the main supplier of both military and civil aerospace hardware to the rest of the world. Aviation is one of the fastest-growing industries in the United States, and it has increased yearly at the rate of at least 14% despite the challenges the industry faced the past years. The industry is also a world leader in advancing science and technology. Aerospace systems have a very high value per unit weight and are among the most complex, as measured by the number of components in finished products.
The U.S.- Russia Chamber of Commerce and its Technology and Innovation Committee invite you to attend the 2nd Aerospace Conference which will address the following Aerospace industry trends:
  • Model Based Systems Engineering (MBSE);
  • Cost Control – how to use technologies to lower operational costs in the Aerospace industry;
  • 3D Printing - how to industrialize 3D printing; and
  • Digital Twin – how to use the Digital Twin to reduce development time.

Thursday, July 15th, 2021

11:00 am – 1:00 pm (CST)
Cost: complimentary

Registration deadline: COB Wednesday, July 14th, 2021.
Webinar details will be provided upon registration.


Senior Vice President of 
Engineering Services,
Saratech (Mission Viejo, CA)
 Chairman of Technology & Innovation Committee,
U.S.-Russia Chamber of Commerce

To read the full bio click here


Senior Manager,
Engineering & Scientific Methods,
Northrop Grumman

To read full bio click here

Design Manager,
Northrop Grumman

To read full bio click here

Vice President Aerospace,
Stratasys Systems

To read full bio click here

Senior Vice President,

To read full bio click here
The 11 Annual Welcome Reception Honoring Delegations 
from Russia, Kazakhstan and Azerbaijan 
at the Offshore Technology Conference (OTC 2021)
The USRCC's OTC Reception is attended by more than 300 international business professionals, including, leading experts from oil and gas/energy industry, investors, suppliers, and government officials.

The USRCC’s OTC Reception provides energy professionals the opportunity to meet and exchange ideas and opinions to advance scientific and technical knowledge for offshore resources and environmental matters.

Tuesday, August 17, 2021 6:00 pm – 9:00 pm CST

Hotel ZAZA | Fountain Room 
5701 Main Street, Houston, TX 77005
USRCC Members - $50 | Non-members - $100

"Pay at the Door" Option will be available at: 
USRCC Members - $55 | Non-Members - $110

Registration deadline: COB Monday, August 16, 2021
Refunds will not be issued after August 13, 2021

 Senior Vice President, 
Global Upstream Conventionals, 

To read the full bio click here

President and CEO,
Parker Drilling Company

To read the full bio click here



The U.S.-Russia Chamber of Commerce
invites you to the partner event -

NAPE Summit 2021
USRCC represented at Booth # 1424

IN PERSON: Houston, August 18th - 20th

VIRTUAL on the NAPE Network: August 9th - September 3rd

Whether face-to-face or screen-to-screen, NAPE is your essential marketplace for connecting with the industry decision-makers who can make big things happen.

Discover new opportunities, explore available prospects, gain insight from industry experts, network with attendees and exhibitors and make deals happen.

Join other professionals from across the energy industry and register now!
Women are an essential part of the global economy. Join the USRCC in conversation with the influential women who have achieved success and are making an impact on the international trade and investment. 
This year’s discussion will focus on the diversity of the board representation, energy transition, successful company culture and other topics.
Please click here to view the prior Speaker Series speakers.
Wednesday, September 15th, 2021
9:00 am – 11:00 am CST
USRCC Members – free | Non-Members - $30

Registration deadline: COB Tuesday, September 14th, 2021.
Refunds will not be issued after September 13th, 2021.
Webinar details will be provided upon registration.

Independent Non-executive Director, BP
Chair of the Safety and Sustainability and Member of the
Remuneration Committees

To read the full bio click here

Senior Vice President, 
Chief Administrative Officer
and General Counsel,
Parker Drilling Company

To read the full bio click here

Shell Lubricants Americas

       To read the full bio click here
The U.S.-Russia Chamber of Commerce is hosting this Webinar to discuss the long-term challenges facing the global supply chain. Energy, Shipping, Mining and Metals, and Agriculture industries’ leaders will share their experiences as to what their respective industries are doing to combat the missing pieces that make the global economy move products smoothly.
  • How to handle supply chain disruptions?
  • How to decrease costs throughout the supply chain?
  • How to meet consumer demands and improve quality, speed and service?
  • What are the advantages of digitalization of supply chain management?
These and other related questions will be covered during this Webinar.

Tuesday, October 5th, 2021

8:00 am – 9:30 am (CST) | 16:00 – 17:30 (MSK)

Registration deadline: COB Monday, October 4th, 2021.


2900 Wilcrest Drive, Suite 133, Houston, TX 77042 | +1 (713) 429-4680
info@usrussiacc.org | www.usrussiacc.org

Chief Executive Officer,
The Mercury Group and Mercury Resources LLC;
North East Chapter Chair and 
New York Representative,
U.S.-Russia Chamber of Commerce

To read the full bio click here

President and CEO, 
Rusal America Corporation

To read the full bio click here

Director of Business
Development & Strategy,
Oldendorff Carriers GmbH & Co. KG

To read the full bio click here

Head of Market Development,
London Metal Exchange

To read the full bio
click here


To read the full bio
click here
The U.S.-Russia Chamber of Commerce
invites you to the partner event -
Gastech Exhibition & Conference at Dubai World Trade Center,
September 21-23, 2021.

Gastech is a global platform that convenes industry leaders annually in their shared mandate towards a zero-carbon economy. A key enabler of engagement between policy makers, business leaders, disruptors and innovators, Gastech 2021 will drive the conversations, collaborations and connections to address the challenges and opportunities created by the energy transition. Lower and zero-carbon fuels will play a central role in the delivery of the new energy landscape, as global focus continues to move towards a decarbonized and sustainable environment. Gastech 2021 will take place in Singapore, an epicenter for trade across Asia, reflecting the rapid shift Asian economies are making towards Natural Gas and LNG to meet their energy demands. Gastech will help you shape the strategies that will enable your company to thrive, providing an opportunity to explore new markets, forge exciting new partnerships and generate new business across the gas, LNG, hydrogen and energy value chain.

Gastech will be held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai. Gastech is supported by the Ministry of Energy and Infrastructure of the United Arab Emirates. H.E. Suhail Mohamed Al Mazrouei, Minister of Energy and Infrastructure commented that “The UAE is delighted to be hosting Gastech, one of the world’s leading events for the gas, LNG, hydrogen, and energy industry. Gastech comes at an important time for the energy industry with a shared global mandate to lower carbon emissions and provide clean affordable energy for all. Gastech is a key enabler of conversations and connections that drive the energy transition agenda."
USRCC Membership
Are you taking advantage
of your USRCC Member Benefits?

The U.S.-Russia Chamber of Commerce provides a variety of Membership options to fit your business needs and goals. Renew your membership or join for the first time today!

For more information click here.
Member's News
Sulzer Chemtech Helps Denka Fast-track its Styrenic Resin Production Expansion Project

Sulzer.com/en, June 29, 2021: Sulzer Chemtech has completed the delivery of key polymerization technologies to Denka’s styrenics resin plant in Singapore weeks ahead of schedule. This will allow the chemical manufacturer to quickly expand its production capacity. The company is now in a stronger position to promptly address the ever-increasing global market demands for polymers. Read more...
Shell Second Quarter 2021 Update Note

Shell.com, July 7, 2021: As a result of strong operational and financial delivery, combined with an improved macro-economic outlook, Shell will move to the next phase of its capital allocation framework and, subject to final Board approval, increase total shareholder distributions to within the range of 20-30% of CFFO, starting at the Q2 results announcement. The level of additional distributions will be determined with full visibility of the Q2 financial results. Read more...
Lukoil Enters Hydrobarbon Production Project in the Shallow Water of Mexico

Lukoil.com, July 1, 2021: PJSC LUKOIL announces the entry into an agreement to acquire the 50% operator interest in the Area 4 project in Mexico (hereinafter – the Project) through the acquisition of the operator's holding company. The transaction value is $435 million plus expenditures incurred in 2021 as of the transaction completion date. The completion of the transaction is subject to certain conditions, including approval by the Mexican authorities. Read more...
USRCC Announcement
The USRCC Member is seeking
business representative in Russia

Here are the key requirements:

  • The company / individual should have the industry contacts in dealing with Sulphur plants, CO2 capture and/or academics;
  • The representative should have a working knowledge of the amine industry;
  • The representative should have the understanding of how business works in the Russian region;
  • The company / individual could have represented tray vendors, solvent suppliers, other software, or Engineering, Procurement and Construction company.

For more details please contact: info@usrussiacc.org
Please indicate in subject line "Russian Representative"

The USRCC is looking for new team members!

Volunteers play a key role and the contributions they make impact the day-to-day functions of the chamber and shape the future of the relationship between Russia and the U.S.

There are many ways you can get involved with the USRCC. Whether you are an experienced leader or a student, there is a place for you. By volunteering, you can be at the very center of our high-profile events held in Houston, Chicago and New York City and interact with influential leaders in the U.S.-Russia trade and investment.
To learn more about the position 
or contact us directly at info@usrussiacc.org  
call 713.429.4680
This Week in Review
U.S. Shale Firms Hesitate to Pump - or Hedge - More, Despite Oil High Prices

Reuters.com, July 7, 2021: Shale producers are famous for boosting output whenever oil prices surge. However, the shale industry has been notably restrained so far this year even as oil surged past $70 a barrel. They have maintained a lower level of production after vowing to investors that they would hold the line on spending to boost returns. Read more...
Lukoil Buys Fieldwood out of Mexico Offshore Project

Upstreamonline.com, July 7, 2021: Russian oil producer Lukoil has agreed to pay $435 million and additional unspecified incurred development costs to acquire a 50% operating stake in two Mexican shallow-water blocks from US independent Fieldwood Energy. The blocks are part of the Area 4 project in the Gulf of Mexico and host the Ichalkil and Pokoch fields. Read more...
Government Mulls Extra Fuel Supplies to Market

1prime.biz, July 5, 2021: The Russian fuel market is stable but the Energy Ministry and the Federal Antimonopoly Service are considering raising the obligatory market sales by 1 percentage point in order to raise confidence, Deputy Energy Minister Pavel Sorokin told PRIME on the sidelines of a forum on Monday. Read more...
Digital Support Measures to Boost Russian Export Companies From 1% to 15%

Sputniknews.com, July 6, 2021: The digitalisation of export support measures in Russia will increase the share of exporting companies from 1% to 15%, Maxim Kobin, vice president of the Russian Export Centre, said at a session titled "State Support for Industrial Exports 2.0", organised by the Russian Ministry of Industry and Trade, the REC reports. Read more...
Russian Diplomat Says Window of Opportunity Open for Moscow, US to Normalize Ties

Tass.com, July 6, 2021: The chance for Russia and the United States to normalize their relations is greater than it was before the Geneva-hosted Putin-Biden summit and it would be unforgivable to pass up this opportunity, Russian Deputy Foreign Minister Sergey Ryabkov said in an interview with the International Life magazine on Tuesday. Read more...
Gazprom Sets Final Dollar Eurobond Yield at 3.5%

1prime.biz, July 7, 2021: Russian gas giant Gazprom has set the final yield for 10-year U.S. dollar-denominated Eurobonds at 3.5%, a financial source told PRIME on Wednesday. The initial yield guidance was set at 3.875%, it was later cut to 3.65–3.70%, and then to 3.5–3.6%. The expected placement amounts to U.S. $1 billion and investors' demand exceeds $2.8 billion, the source said. Gazprom has held a series of investor calls to coordinate the possible Eurobond sale since Monday. Read more...
Houston-Tyumen Sister Cities
The Delegation of JSC "Tyumenneftegaz" Visited the Forum of the Fuel and Energy Complex

72.ru, July 8, 2021: The 8th annual forum "Yamal Arctic Oil and Gas" was held in Tyumen. More than one hundred and fifty representatives of enterprises of the fuel and energy complex of the Tyumen region and Yamal-Nenets Autonomous Okrug met at the main information platform. The event was attended by representatives of JSC Tyumenneftegaz, headed by General Director Andrey Provotorov. Read more...
CIS Business News
Output Capacity of Belarusian Renewable Energy Sources up by 19 Times since 2010

Eng.belta.by, July 8, 2021: The aggregate output capacity of renewable energy sources has increased by 19 times since 2010, BelTA learned from Sergei Greben, Head of the Energy Effectiveness, Ecology, and Science Office of the Belarusian Energy Ministry, at a press conference held on 8 July to discuss the state and prospects of renewable sources of energy in Belarus. Read more...
Energy Strategy for Azerbaijan's Karabakh Developed

Azernews.az, July 6, 2021: Azerbaijan's Azerenergy OJSC has developed an energy strategy for Karabakh in accordance with Azerbnaijani President Ilham Aliyev's instructions on the creation of an electric power structure in the territories liberated from occupation [liberated from Armenian occupation during the second Karabakh war] and its integration into the country's energy system, the head of the department of the OJSC Mukhtar Makhmudov said. Read more...
Investment In Kazakhstan: Everything Beckons, From Oil To Rare Earths

Forbes.com, July 7, 2021: It is hard to travel in Kazakhstan without thinking of Singapore. So different in every way, but both the successful creations of post-colonial leaders; singular men with singular vision. Also, it is hard if you are an investor not to want a part of the alluring future that is emerging in Central Asia. Read more...
US-Russia Related News in Russian
◾ Новости недели
Посольство США с 31 Июля Прекращает Прием Консульских Сборов за Неиммиграционные Визы

Tass.ru, Июль 7, 2021: Американское посольство в РФ прекратит с 31 июля принимать консульские сборы за неиммиграционные визы. Об этом говорится в распространенном в среду сообщении информационной службы по визам в США в России. Читать далее...
Особые Экономические Зоны Вышли в Плюс

Kommersant.ru, Июль 7, 2021: «Газпром» отчитался о резком росте экспорта газа в дальнее зарубежье в первом полугодии — на 25,7%, до 99,9 млрд кубометров. Это второй по величине показатель в истории после первого полугодия 2018 года. На деле монополия могла бы побить тот рекорд, но ограничена в возможностях транспортной инфраструктуры, учитывая ее нежелание бронировать дополнительные мощности через Украину. Если газопровод «Северный поток-2» удастся хотя бы частично запустить к октябрю, то в целом за год «Газпром», вероятно, превысит показатель 2018 года в 201,8 млрд кубометров. Читать далее...
Восстановление Усилило Региональное Неравенство

Kommersant.ru, Июль 7, 2021: Один из разделов июльского выпуска «Мониторинга экономической ситуации в России» Института Гайдара и РАНХиГС посвящен анализу выхода регионов из кризиса в январе—апреле 2021 года. Процесс характерен «серьезными территориальными различиями, которые необходимо учитывать при проведении региональной политики и… финансовой поддержки регионов»,— отмечает автор Наталья Зубаревич из лаборатории исследований демографии, миграции и рынка труда РАНХиГС. Читать далее...
Инфляция в России Обновила Рекорд за Пять Лет

Rbc.ru, Июль 7, 2021: Рост потребительских цен в России в июне достиг 6,5% год к году, ускорившись по сравнению с 6% в мае, сообщил Росстат. Драйверами июньской инфляции стали стремительно дорожающие овощи и стройматериалы. Читать далее...
В США Изучают Возможность Увеличения Пошлин на Азотные Удобрения из России

Tass.com, Июль 7, 2021: Федеральная комиссия по международной торговле США начала расследование относительно возможного ущерба американской экономике из-за импорта карбамидо-аммиачной смеси из России, а также из Тринидада и Тобаго. По итогам расследования американские власти должны решить вопрос о необходимости установления антидемпинговых и компенсационных пошлин. Соответствующее извещение размещено в среду в Федеральном реестре - сборнике официальных документов американского правительства. Читать далее...
 USRCC Executive Partners 
U.S.-Russia Chamber of Commerce
2900 Wilcrest Drive
Suite 133
Houston, TX 77042

The U.S.-Russia Chamber of Commerce (USRCC) is a 501(c)(6) not for profit corporation with its headquarters in Houston, Texas, and offices in the Midwest and the Northeast. The USRCC was established in 2009 to promote trade and investment between the Russian Federation and the U.S.A.  
The information contained in this newsletter is provided for general information purposes only and does not constitute legal or other professional advice on any subject matter. USRCC does not accept any responsibility for any loss that may arise from reliance on information contained in this newsletter. The views and opinions expressed in this publication are those of the authors. They do not reflect the opinions or views of the USRCC or its members. Links within this newsletter lead to other websites, including those operated and maintained by third parties. The linked sites are not part of the USRCC newsletter. USRCC includes these links solely as a convenience to the newsletter subscribers, and the presence of such links does not imply a responsibility for the linked site and its operator. USRCC cannot certify the accuracy of the material provided by the original source.

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