October 2021 | ISSUE No. 347 | USRCC Business Newsletter
USRCC Partner Event
Back in the U.S. for the first time in over 30 years, the 23rd World Petroleum Congress makes its return to the energy capital with participation from renowned global industry leaders, ministers, and expert speakers. Make your mark at the Congress and be part of the beginning of what’s next. 

Receive Access to the:
–Technical and Strategic Program
– Exhibition Floor
– Opening Ceremony
– Houston, USA Night
– Exclusive Alex Epstein and Robert Bryce 
meet and greet (Limited space available)
USRCC Membership
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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
Shell to Grow Company-owned Retail Sites in the U.S. with Acquisition of Landmark Fuel and Convenience Network

Shell.com, October 26, 2021: ​Shell Retail and Convenience Operations LLC, a wholly owned subsidiary of Shell Oil Products US (Shell), has signed an agreement to acquire 248 company-owned fuel and convenience retail sites from the Landmark group of companies (Landmark), whose convenience stores operate in Texas under the Timewise brand. The agreement also includes supply agreements with an additional 117 independently operated fuel and convenience sites. Read more...
Baker Hughes Breaks Ground on its Oilfield Services Regional Hub at SPARK in Saudi Arabia

Bakerhughes.com, October 25, 2021: Baker Hughes, a global energy technology company, celebrates the commencement of construction of its Oilfield Services (OFS) regional hub located at King Salman Energy Park (SPARK). The groundbreaking ceremony at the project site was attended by Lorenzo Simonelli, chairman and CEO of Baker Hughes and Ahmad Al Sa’adi, senior vice president, technical services of Aramco. Read more...
The Global Methane Pledge

Corporate.exxonmobil.com, October 26, 2021: In September, the U.S. and European Union announced a Global Methane Pledge to reduce methane emissions by 30% below 2020 levels by 2030. More than 30 nations have now joined the Pledge, and more could be announced at the upcoming COP26 climate summit in Glasgow, Scotland. ExxonMobil supports this initiative. Read more...
Gazprom and SOCAR Hold Working Meeting

Gazprom.com, October 29, 2021: A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Rovnag Abdullayev, President of the State Oil Company of the Azerbaijan Republic (SOCAR), took place today in St. Petersburg. The parties discussed the potential avenues for their cooperation in the energy sector. 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
This Week in Review
Rosneft CEO: Era of Cheap Energy May Be Coming to End

1prime.biz, October 28, 2021: The era of low energy prices may be coming to an end, Igor Sechin, head of Russian oil giant Rosneft, said at an economic forum on Thursday. “The era of relatively low energy prices, which lasted for almost 100 years and was a major driver of global economic development, may be coming to an end,” Sechin said. According to Sechin, although renewable energy sources will not be able to replace fossil fuels fully any time soon due to the lack of technology, and carbon neutrality doesn’t entail full riddance of oil, gas and coal consumption, the green agenda is already actively affecting the market, forcing major companies to decrease exploration and geological works expenses, which have already dropped by 67% in the last decade. Read more...
U.S. Coal Industry Says Almost Sold-Out For 2022

Oilprice.com, October 29, 2021: U.S. coal miners are enjoying the surge in demand for the fossil fuel, with almost all of their production through the end of next year—and some into 2023 even—already sold, according to a Bloomberg report. Prices are higher, too. According to the report, Arch Resources, the second-largest coal miner in the United States, has sold its 2022 output at prices 20 percent above current spot market rates. Read more...
Exxon, Chevron Target Billions in Share Buybacks as Cash Flow Surges

Worldoil.com, October 29, 2021: Exxon Mobil Corp. and Chevron Corp. are plowing windfall profits into share buybacks as soaring energy prices boost their cash flow. Exxon will revive repurchases for the first time since 2016. The company said Friday it plans to spend as much as $10 billion on repurchases starting next year. Chevron is considering an expansion of its buyback program after surging natural gas prices and oil-refining returns drove free cash flow to an all-time high in the last quarter. Shares of both companies climbed in pre-market trading. Read more...
Russian Economy Could Move to 3% Growth in 2023-24 by Successfully Implementing All Govt Initiatives - Central Bank

Interfax.com, October 27, 2021: Russia could have economic growth of 3% per year in 2023-2024 by successfully implementing all of the government's initiatives, Central Bank of Russia (CBR) Deputy Governor Alexei Zabotkin said during a joint meeting of the State Duma committees. The CBR forecasts growth of 4%-4.5% in Russia's GDP in 2021 and 2%-3% per year in 2022-2024. The Economic Development Ministry forecasts growth of 4.2% in GDP in 2021 and 3% per year in 2022-2024. Read more...
Russian Oil Companies Propose Using Excess Gas in Oil Extraction for Crypto Mining

Timesofindia.indiatimes.com, October 25, 2021: Russian oil companies have suggested the use of associated petroleum gas (APG) for generating electricity that can be used in the energy-intensive process of digital coin minting, Kommersant, a Russian business daily reported on October 21. Coin minting data centers can utilise the excess gas released during oil extraction which would otherwise be wasted. Read more...
Gazprom Neft Plans to Enter Global Technology Market in 2022-2023

Tass.com, October 26, 2021: Gazprom Neft’s technological center for industrial innovations plans to enter the global technology market in 2022-2023, CEO at Gazpromneft - Industrial Innovations Mikhail Nikulin said in an interview with Gazprom magazine. Read more...
Houston-Tyumen Sister Cities
UTMN: UTMN Scientists Took Part in International Conference in Halle

Indiaeducationdiary.in, October 26, 2021: The main topic of the scientific event was “Health and diseases. The level of scientific knowledge during expeditions to Russia in the first half of the XVIII century”. The conference was organized by the Georg Wilhelm Steller International Society and the Martin Luther University in Halle-Wittenberg and was held in both online and offline formats. Reporters from Germany, Russia, USA, Ukraine touched upon the issue of the development of medical knowledge in the scientific works of scientists of the XVIII century: Georg Wilhelm Steller, Daniel Gottlieb Messerschmidt, Gerard Friedrich Miller and others.Read more...
CIS Business News
Belarus, Russia Discuss Formation of Single Commodity Exchange Market

Eng.belta.by, October 29, 2021: The Belarusian Universal Commodity Exchange (BUCE) and the St. Petersburg International Mercantile Exchange (SPIMEX) discussed a possibility of establishing a single commodity exchange market in the Union State of Belarus and Russia, BelTA learned from the press service of BUCE. Read more...
Kazakhstan and Germany Enter a New Stage of Cooperation

Invest.gov.kz, October 27, 2021: An official visit of the Kazakh delegation headed by Deputy Prime Minister of the Republic of Kazakhstan R.Sklyar to the Federal Republic of Germany took place. The delegation included Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Almas Aidarov, Vice Minister of Digital Development, Innovation and Aerospace Industry of the Republic of Kazakhstan Askhat Orazbek, Vice Minister of Industry and Infrastructure Development of the Republic of Kazakhstan Marat Karabayev, Ambassador of the Republic of Kazakhstan to Germany Dauren Karipov, as well as the leadership of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan, “NC “KAZAKH INVEST” JSC, “Zerde” NI” JSC, etc. Read more...
SOCAR, BP Eye Oil, Gas Cooperation

Azernews.az, October 26, 2021: Azerbaijan’s State Oil Company President Rovnag Abdullayev and BP Vice-President for Production and Operations Gordon Birrell have discussed bilateral oil and gas cooperation, the company reported on October 26. During the meeting, the parties exchanged views on the progress of exploratory drilling in the shallow part of the Absheron Peninsula. Read more...
US-Russia Related News in Russian
◾ Новости недели
США по Итогам Расследования Подтвердили Рыночный Статус Экономики РФ

Interfax.ru, Октябрь 29, 2021: Министерство торговли США по итогам проведенного расследования подтвердило рыночный статус экономики РФ. Об этом говорится в документе, опубликованном в пятницу в базе данных американского торгового министерства. "Министерство торговли (США - ИФ) считает, что Российская Федерация продолжает оставаться страной с рыночной экономикой для целей расследования антидемпинговых пошлин", - говорится в решении министерства США по итогам проведенного расследования. Читать далее...
Минэкономики Готовит Законопроект об Упрощении Выхода Компаний на Биржу через SPAC

Kommersant.ru, Октябрь 28, 2021: Минэкономики разрабатывает законопроект по созданию механизма привлечения инвестиций SPAC. Он должен упростить выход на биржу для непубличных компаний. Минэкономики ожидает, что SPAC поможет российским компаниям «легче находить источники финансирования под свое развитие». Министерство считает, что новый механизм избавит компании от лишней траты времени и денег на листинг. Читать далее...
"Газпром" Достиг Целевого Уровня Запасов в ПХГ России в 72,6 млрд куб. м

Tass.ru, Октябрь 29, 2021: "Газпром" досрочно достиг целевого уровня запасов газа в подземных хранилищах РФ в 72,638 млрд куб. м, продолжит закачку до 8 ноября. Об этом говорится в сообщении российского газового холдинга. "Газпром" достиг заданного уровня оперативного резерва газа в подземных хранилищах на территории России - 72,638 млрд куб. м", - отмечается в сообщении. Читать далее...
Перевозчики США Просят Госдеп Добиться Дополнительных Рейсов над Россией

1prime.ru, Октябрь 29, 2021: Крупнейшие авиаперевозчики США призывают госдепартамент к "немедленным действиям", чтобы решить вопрос о дополнительных правах на полеты в воздушном пространстве России, говорится в письме отраслевого объединения. Группа Airlines for America, объединяющая пассажирских и грузовых перевозчиков — American Airlines, Delta Airlines, FedEx Corp, United Parcel Service и другие, — в письме от 14 октября попросила о вмешательстве непосредственно госсекретаря Энтони Блинкена. Читать далее...
Exxon в 3-м Квартале Вернулся на Прибыльный Уровень

Finmarket.ru, Октябрь 29, 2021: Крупнейшая нефтегазовая компания США Exxon Mobil завершила третий квартал с чистой прибылью благодаря росту цен и продаж, при этом скорректированный показатель и выручка превзошли прогноз.Как сообщается в пресс-релизе компании, ее чистая прибыль в июле-сентябре составила $6,75 млрд, или $1,57 в расчете на акцию, по сравнению с чистым убытком в $680 млн, или 15 центов на акцию, за аналогичный период прошлого года. 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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