October 2021 | ISSUE No. 346 | USRCC Business Newsletter
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Member's News
Lukoil, Gazprom Neft Team Up On Oil Recovery Projects

Rigzone.com, October 18, 2021: ​Russian oil and gas company Lukoil and compatriot oil producer Gazprom Neft have concluded an agreement on cooperation in the implementation of oil recovery enhancement projects. Lukoil said that the agreement provides for joint work on improving chemical methods of enhanced oil recovery. It will lay the foundation for best practices exchange and collaboration in lab research, as well as for studies of surface-active agents and production stimulation chemicals. Read more...
Proposed Standard Will Help Accelerate Ammonia Nitrogen Analysis

Astm.org, October 21, 2021: ASTM International’s water committee (D19) is developing a proposed standard that will help to accelerate the analysis of ammonia nitrogen in environmental samples. Ammonia nitrogen is a nutrient that can lead to oxygen-depleted and potentially toxic algae blooms that can kill fish. According to ASTM International member William Lipps, the proposed method (WK42422) will eliminate the need for a preliminary distillation, saving laboratories time and money. Read more...
ExxonMobil Plans to Increase Carbon Capture at LaBarge, Wyoming Facility

Corporate.exxonmobil.com, October 21, 2021: ExxonMobil today initiated the process for engineering, procurement and construction contracts as part of its plans to expand carbon capture and storage (CCS) at its LaBarge, Wyoming facility, which has already captured more CO2 than any other facility in the world. The expansion project will capture up to 1 million metric tons of CO2, in addition to the 6-7 million metric tons already captured at LaBarge each year. Read more...
USRCC Announcement

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
The Treasury 2021 Sanctions Review
Home.treasury.gov, October, 2021: Over the last 20 years, the Department of the Treasury (Treasury), in close coordination with the Department of State, has successfully employed sanctions to address various national security challenges. Read more...
This Week in Review
Russia Hikes Rates as Economists Warn of Triple Threat to Economy

Themoscowtimes.com, October 22, 2021: Russia’s Central Bank hiked interest rates to 7.5% on Friday as economists warned the country faces a triple threat of rising coronavirus cases, new lockdown measures and surging inflation. The Russian economy recovered to its pre-coronavirus size earlier this year — a quicker recovery than first expected and faster than most other large economies — but now faces serious headwinds from both home and abroad. Read more...
Russian Metallurgical Company Metalloinvest to Build the World’s Largest HBI Iron Plant

Iintellinews.com, October 21, 2021: Leading Russian metallurgical company Metalloinvest signed off on a deal with a consortium of companies including Austria’s Primetals Technologies GmbH and US-registered Midrex Technologies Inc., to build the world’s biggest hot briquetted iron (HBI) plant in Russia, the company said in a press release on October 21. Read more...
Forget $100, Options Traders Now Betting on Oil Prices Hitting $200

Oilprice.com, October 19, 2021: As oil prices hit multi-year highs, some speculative traders are betting on the options market that oil could exceed $100 a barrel by the end of this year and even reach a record $200 per barrel by the end of 2022. Call options give traders the right—but not the obligation—to buy assets at a certain price, the so-called strike price, by a certain date. Read more...
Rosneft Sells Stake in Vostok Oil

Rigzone.com, October 20, 2021: Rosneft has revealed that it has closed a deal to sell a five percent interest in the authorized capital of Vostok Oil LLC to a consortium of Vitol S.A. and Mercantile & Maritime Energy Pte. Ltd. The deal was approved at a meeting of the Rosneft Board of Directors. The value of the transaction was not disclosed by Rosneft. Read more...
Mcdermott in Line for Contract at Russian Gas Chem Complex

Naturalgasworld.com, October 18, 2021: McDermott has signed a letter of guarantee to provide engineering and procurement services with China National Chemical Engineering and Construction Corporation Seven for an ethylene cracker at a gas chemicals project under development in Ust-Luga in northwest Russia, the US company said on October 18. Read more...
Shell May Restart Hurricane-hit Gulf Platforms Ahead of Schedule

Worldoil.com, October 22, 2021: Royal Dutch Shell is hoping to restart its Ursa oil and gas platform in the U.S. Gulf of Mexico as early as the first half of November, according to a person familiar with the matter who asked not to be identified because the information isn’t public. The 100,000-barrel-a-day Ursa and the Shell’s other 60,000-barrel a day Mars offshore platforms have been shut since Hurricane Ida disrupted the U.S. oil industry in late August. Shell had said their restarts are pending the completion of repairs to a transfer facility known as West Delta 143, or WD-143. Read more...
Pool of Arctic LNG 2 Creditors Established, Loans to be Signed by End of Year

Interfax.com, October 18, 2021: A pool of creditors for the Arctic LNG 2 project has now been established, Novatek CEO Leonid Mikhelson told reporters. "It has been established. "[It remains] to sign on the dotted line," Mikhelson said. "We'll arrange all necessary project financing this year," he said. Mikhelson also said documents on the possibility of Russian banks increasing financing had been signed. Read more...
Russia's Putin Approves Nationwide One-week Workplace Shutdown from Oct. 30

Reuters.com, October 20, 2021: Russian President Vladimir Putin on Wednesday approved a government proposal for a week-long workplace shutdown at the start of November to combat an alarming rise in COVID-19 cases and deaths. Read more...
CIS Business News
Belarus' Industrial Output up 7.9% in January-September 2021

Eng.belta.by, October 18, 2021: In January-September 2021, Belarus' industrial output amounted to Br111.1 billion in current prices, up by 7.9% in comparable prices over the same period of 2020, BelTA learned from the National Statistical Committee of Belarus. Production increased by 1.4% in the mining industry and 7.9% in the processing industry. Read more...
Kazakhstan’s Investment Activities Discussed at UNCTAD World Investment Forum

Astanatimes.com, October 22, 2021: Kazakhstan’s measures to created favorable conditions for investments were presented at the virtual seventh United Nations Conference on Trade and Development (UNCTAD) World Investment Forum, which kicked off Oct. 18, reported the press service of the Kazakh Invest national company. As a main part of the United Nations Secretariat, the UNCTAD has a mission to maximize the trade, investment and development opportunities of developing countries and assist them in their efforts to integrate into the world economy on an equitable basis. Read more...
SOCAR, Naftogaz Ink MoU on Onshore, Offshore Technologies Development

Azernews.az, October 21, 2021: Azerbaijan’s SOCAR AQS and Ukraine’s Naftogaz have signed a memorandum of understanding on joint cooperation for the development of onshore and offshore technologies. At the same time, Naftogaz signed memorandums of understanding with the United Arab Emirates’ Dragon Oil and the U.S. based Helmerich & Payne Inc., as well as 3 Seas Energy. Read more...
US-Russia Related News in Russian
◾ Новости недели
ЦБ Повысил Ключевую Ставку до 7,5%

Vedomosti.ru, Октябрь 22, 2021: Совет директоров Банка России на сегодняшнем заседании повысил ключевую ставку сразу на 0,75 п. п. — до 7,5% годовых, сообщила пресс-служба регулятора. В последний раз показатель был на таком уровне в конце июля 2019 г., выше 7% ставка не была с октября того же года. Читать далее...
Совет Директоров «Газпрома» Одобрил Увеличение Инвестпрограммы на Треть

Kommersant.ru, Октябрь 19, 2021: Совет директоров «Газпрома» утвердил бюджет и инвестиционную программу компании на 2021 год в новых редакциях. Объем инвестиционной программы головной компании был увеличен до 1185 млрд руб., сообщает «Газпром» в своем Telegram-канале. Рост по сравнению с инвестпрограммой, утвержденной в декабре 2020 года, составил 283 млрд руб. Читать далее...
ТМК Консолидировала 100% Акций ЧТПЗ

Tass.ru, Октябрь 22, 2021: Трубная металлургическая компания" (ТМК) консолидировала 100% акций ЧТПЗ, завершив выкуп 2,3679% акций у миноритарных акционеров производителя трубной продукции. Об этом говорится в сообщении ТМК. Читать далее...
Михельсон Оценил Возможности России в Производстве СПГ

1prime.ru, Октябрь 18, 2021: Россия к 2030 году способна достичь объема производства сжиженного природного газа на уровне 120 миллионов тонн, но нужно ускорять монетизацию запасов, заявил журналистам глава "Новатэка" Леонид Михельсон. Читать далее...
Эксперты Назвали 3 Сценария для Иностранных Инвестиций в России

Rbc.ru, Октябрь 18, 2021: В Консультативном совете по иностранным инвестициям (КСИИ) спрогнозировали, как будут расти инвестиции иностранных компаний в России в ближайшие три года. Прогноз дан в октябрьском исследовании «Международный бизнес в России. Курс на устойчивое экономическое развитие» (есть у РБК). За основу авторы исследования взяли три сценария развития мировой экономики, которые экономисты Oxford Economics считают наиболее вероятными. Читать далее...
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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.  
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