February 2022 | ISSUE No. 362 | USRCC Business Newsletter
USRCC Activities
USRCC at the Annual
NAPE Summit 2022 in Houston 

The USRCC was proud to exhibit at the NAPE Summit 2022 in Houston, TX – the world’s largest global marketplace for the energy industry.

NAPE Summit is an expo and conference with a heavy focus on networking that brings together domestic and international decision-makers to forge, facilitate and close deals. NAPE Summit is a “must attend” event to network with key players who have firsthand knowledge of the opportunities and prospects in the industry. 

The USRCC was represented at booth #4620. Both attendees and exhibitors showed great interest in the USRCC’s activities and opportunities the Chamber presents for cooperation with its U.S.A., Russian, CIS, and international member-companies.
USRCC Upcoming Event
The 12th Annual Welcome Reception
Honoring Delegations from Russia,
Kazakhstan and Azerbaijan 
at the Offshore Technology Conference 2022
The Offshore Technology Conference (OTC) Reception is attended by more than 300 international business professionals, including, leading experts from the 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, May 3rd, 2022 | 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 - $60 | Non-Members - $120
Registration deadline: COB Monday, May 2nd, 2022
Refunds will not be issued after April 29th, 2022
2900 Wilcrest Drive, Suite 133, Houston, TX 77042
+1 (713) 429-4680
USRCC Partner Event
St. Petersburg International Economic Forum (SPIEF)
The St. Petersburg International Economic Forum (SPIEF) is a unique event in the world of business and economics. SPIEF has been held since 1997, and since 2006, it has been held under the auspices of the President of the Russian Federation, who has also attended each event.
Over the last 24 years, the Forum has become a leading global platform for members of the business community to meet and discuss the key economic issues facing Russia, emerging markets, and the world as a whole.
The 25th St. Petersburg International Economic Forum is set to take place on 15–18 June 2022. As in previous years, the business program will focus on the global and Russian economies, social issues, and technological development.
The Forum will be held in strict accordance with health and safety measures to prevent the spread of COVID-19, carefully drawn up by the Organizing Committee in line with the WHO recommendations. SPIEF 2022 will provide a full range of services to enable participants to effectively nurture and expand their business network and enjoy safe, productive participation, including in an enriching cultural and sporting program.

More information on the upcoming SPIEF 2022 is available here.
USRCC Partner Event
A landmark event in the energy industry’s calendar, and the world’s largest meeting place for the global gas, LNG, hydrogen, and energy value chain, Gastech 2022 will take place from 5-8 September, at Fiera Milano, Italy.  

As the largest exhibition of its kind, Gastech Milan will provide space for 1,000 exhibitors to showcase the value that they can bring to the industry. Conference attendees can look forward to hearing from over 900 speakers in sessions covering the latest commercial and technical developments as well as insights from over 400 ministers, CEOs, and policymakers.

More information is available here.
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
Exxon Mobil, Hess Raise Guyana Oil Outlook with New Production Vessel

Hartenergy.com, February 11, 2022: Exxon Mobil Corp. on Feb. 11 said it is accelerating output at its Guyana’s offshore oil development, starting a new production vessel that will bring total production capacity to more than 340,000 bbl/d. Read more...
Andersen Global Strengthens Foothold in the British Virgin Islands

Andersen.com, February 8, 2022: Following its recent expansion into the British Virgin Islands (BVI), Andersen Global adds dimension to its platform in the territory with collaborating firm Chorus International Services (BVI) Limited (Chorus-Global). Founded in 2019, Chorus-Global is a financial services provider specializing in the delivery of select corporate, fiduciary, governance, regulatory and fintech services from the BVI. The firm, led by its founder Nicholas Lane, serves a broad range of discerning clients including corporate entities, private clients, high net worth families, institutions and investors. Read more...
Shell Pipeline Company LP Announces Offer for Remaining Units of Shell Midstream Partners, L.P.

Shell.com, February 11, 2022: Shell Pipeline Company LP (“Shell”) today announces it has made a non-binding offer to purchase all remaining common units held by the public representing limited partner interests in Shell Midstream Partners, L.P. (NYSE: SHLX) (“SHLX”) for $12.89 per common unit in cash. Shell and its affiliates currently own approximately 68.5% of SHLX common units. The proposed transaction simplifies the governance of the SHLX assets, reduces costs, and provides flexibility to optimize the pipeline portfolio. Read more...
LUKOIL Named the Most Transparent Company of the Year

Lukoil.com, February 9, 2022: PJSC LUKOIL became winner of the annual Proactive Corporate Disclosure Policy contest held by Interfax and AK&M agencies certified by the Bank of Russia to disclose information in stock market. The company received a crystal prize that symbolizes transparency. The prize was presented at the annual Director of the Year awards ceremony, organized by the Independent Directors Association and Russian Union of Industrialists and Entrepreneurs. The jury of the contest was comprised of representatives of information agencies, trading platforms, the Independent Directors Association, and Russian IR-association of the Financial Communications & Investor Relations Alliance. 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
Bill on Expanding Excess-Income Tax Regime Submitted to Russia’s State Duma

Tass.com, February 10, 2022: The bill on expanding the area of application of the tax on additional income to another 27 subsoil plots in Russia’s Khanty-Mansiysk and Yamalo-Nenets Autonomous Districts, as well as in the Komi Republic, has been submitted to the State Duma. The text of the document submitted by Chairman of the Committee on Energy Pavel Zavalny and Deputy Chairman of the State Duma Committee on Budget and Taxes Olga Anufrieva was posted in the electronic database of the lower house of parliament. Read more...
The Economic Effect from the Introduction of Innovative Solutions at Rosneft Amounted to 12 Billion Rubles

Rogtecmagazine.com, February 9, 2022: At the end of 2021, Rosneft received an economic benefit in the amount of 12 billion rubles due to the introduction of innovative solutions in its operations. The development of fundamental science and technological potential are the most important components of Rosneft’s strategy. Ensuring Russia’s technological sovereignty is one of the Company’s priority goals as a leader in the global energy sector. Read more...
Russia Hikes Interest Rates Again, Warns of ‘Overheating’ Economy

Themoscowtimes.com, February 11, 2021: Russia’s Central Bank raised interest rates by a full percentage point to 9.5% on Friday in its latest attempt to tame surging inflation and prevent the economy from “overheating.” The hike is the second time in a row the regulator has made the rare move of increasing its key rate by a full point, and the eighth consecutive rise. It takes borrowing costs to their highest level in five years. Read more...
Russia’s Gas Production in January at a Five-year High

Intellinews.com, February 8, 2022: The output of Russian gas was at its highest level in the last five years, while oil production was at a four-year low, CDU TEK reported at the start of February. Russia’s gas output was up 1.1% year on year in January at 69.4 bcm, after output grew at almost all the main gas producing companies. Gazprom increased production 1% y/y to 47.4 bcm. Novatek’s standalone production slightly decreased 0.7% y/y. Yamal LNG’s gas production grew 8.1% y/y, Terneftegas’s 5.9% y/y and Arcticgas’s 0.2% y/y, while Nortgas showed a decline of 11.9% y/y. Read more...
Looney Mounts Robust Defense of BP Russia Connection

Rigzone.com, February 8, 2022: BP Plc’s alliance with Russian oil giant Rosneft PJSC works today, and for decades to come. That’s the message from Chief Executive Officer Bernard Looney, who defended BP’s roughly 20% stake in Rosneft as tensions simmer between Russia and the West over troops amassed at Ukraine’s border. “Russia is a large member of the energy system,” Looney said in an interview with Bloomberg TV on Tuesday. “We avoid the politics, that serves us well in many countries around the world.” Read more...
Russia Plans to Launch Production of 60,000 Tonnes of Low-carbon Hydrogen by 2025

Interfax.com, February 11, 2022: The plan to implement Russia's low-carbon development strategy provides for the launch of at least five low-carbon hydrogen production facilities by 2025, a source familiar with the document told Interfax. The facilities should produce at least 60,000 tonnes of hydrogen per year. There are plans to carry out projects for the production of green and clean hydrogen, obtained by electrolysis of water and from hydrocarbons, respectively. Work on a feasibility study for the projects should be completed in Q2 2022 and construction should begin in Q1 2023. Read more...
Russia Earmarks US$79 Million for Climate & De-Carbonisation Research

Russia-briefing.com, February 11, 2022: Viktoria Abramchenko, Russia’s Deputy prime minister for environmental policy has stated that the Russian government plans to invest 5.9 billion rubles (US$79 million) into climate and decarbonization research in the next eight years. The new state-funded research program will focus on studying climate change and strategies for adaptation and decarbonization. Read more...
CIS Business News
Belarus Attracts $8.7bn in Foreign Investment in 2021

Eng.belta.by, February 11, 2022: Foreign investors injected $8.7 billion in the real economic sector of Belarus in 2021, BelTA learned from the National Statistical Committee. The bulk of investment came from Russia (42.6% of all investment received), Ukraine (15.2%) and Cyprus (13.9%). Foreign direct investment amounted to $6.6 billion, or 75.4% of all foreign investment. Read more...
Azerbaijan to Develop National Artificial Intelligence Strategy

Russia-briefing.com, February 11, 2022: Nowadays, practically everything around us that comes from the realm of technology appears to have some aspect of artificial intelligence (AI). Artificial intelligence, in computer terminology, is the programming and development of computers and systems capable of utilising and processing information in a way analogous to human activity. In other terms, it is a technology that allows robots to accomplish jobs that would ordinarily need human-like reasoning. Read more...
Fitch Agency Affirms Kazakhstan Credit Rating at ‘BBB’ With Stable Outlook

Astanatimes.com, February 8, 2022: Fitch noted Kazakhstan’s strong sovereign external buffers on its fiscal and external balance sheets, which managed to resist COVID-19 and oil price shocks. The rating is also underpinned by the robust fiscal position. The agency stressed that recent peaceful rallies over fuel-price rises that turned into violence in early January will not impact sectoral fundamentals. Read more...
US-Russia Related News in Russian
◾ Новости недели
"Роснефть" Готова Наращивать Добычу в 2022 Году в Рамках Смягчений Сделки ОПЕК+

Tass.ru, Февраль 11, 2022: "Роснефть" обладает возможностями увеличения добычи углеводородов в 2022 году в рамках ослабления ограничений по сделке ОПЕК+, сказал вице-президент "Роснефти" по внутреннему сервису Эрик Лирон на телеконференции с инвесторами, его слова приводятся в материалах пресс-службы компании. Читать далее...
Криптовалюты Предложено Регулировать в России Чуть Строже Долларов

Kommersant.ru, Февраль 8, 2022: Правительство и Банк России договорились о будущем режиме обращения криптовалют в России: до 18 февраля они подготовят законопроект об обращении цифровых валют в РФ, в котором криптовалюты признаются аналогом валют, а не цифровых финансовых активов (ЦФА). Их оборот в легальном секторе будет возможен только с полной идентификацией, через банковскую систему или лицензированных посредников. Читать далее...
Bloomberg Оценил Дополнительные Доходы России из-за Роста Цен на Нефть

Rbc.ru, Февраль 10, 2022: Бюджет России может получить более $65 млрд дополнительных доходов в этом году благодаря росту цен на нефть, что поможет справиться с возможными санкциями со стороны США и Европы. Об этом сообщает Bloomberg со ссылкой на аналитиков. По оценкам экономистов агентства, в этом году цены на нефть останутся на уровне $90 за баррель, что должно принести бюджету России дополнительные $65 млрд дохода. Читать далее...
На Развитие Атомной Энергетики Планируют Выделить 56 Миллиардов Рублей

Ria.ru, Февраль 11, 2022: Около 56 миллиардов рублей планируется направить из средств Фонда национального благосостояния на развитие новой атомной энергетики в РФ, заявил в пятницу премьер-министр России Михаил Мишустин. Читать далее...
Россия Обнародовала План Производства Низкоуглеродного Водорода до 2025 Года

Interfax.ru, Февраль 11, 2022: План реализации стратегии низкоуглеродного развития РФ предполагает запуск не менее пяти производств низкоуглеродного водорода к 2025 году, сообщил "Интерфаксу" источник, знакомый с содержанием документа. Общая годовая производительность этих предприятий должна составить не менее 60 тыс. тонн водорода. Предполагается реализовать проекты по производству "зеленого" и "чистого" водорода - полученного путем электролиза воды и из углеводородного сырья соответственно. 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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