Russia threatens to cancel Shell, Mobil and Total's licenses

The Russian government is threatening to cancel oil and gas exploration licenses it granted to Royal Dutch/Shell, ExxonMobil and Total. On Sept. 16, Russia's Prosecutor-General charged that a key environmental permit for Shell's project, which covers the $20 billion Sakhalin-2 development, does not comply with Russian law.

The projects run by Shell and ExxonMobil are production sharing agreements (PSA), which cover the development of offshore oil and gas fields at the Sakhalin Island, in Russia's Far East. Total was granted a license to develop a large northern Kharyaginsk oil field.

- Note that Singapore is also looking for LNG supplies from this Sakhalin project.

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