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OilMARKET 02 / 2015
PERSON OF THE ISSUE
Dr Gennadiy Alexandrovich Tarassov,
LLP engineering company
KAZGIPRONEFTETRANS,
Managing Director of InnovationsDr Gennadiy Alexandrovich Tarassov, LLP engineering company KAZGIPRONEFTETRANS, Managing Director of Innovations
Kazakhstan leading oil and gas engineering company KAZGIPRONEFTETRANS (KGNT) Managing Director of Innovations Dr Gennadiy Tarassov celebrates in 2015 60 th anniversary! OILMARKET magazine and KGNT for many years developed sustainable partnership. We witnessed KGNT dynamic development and its turning from a solid soviet style research institute into the modern international oil and gas engineering business. This transformation was particularly obvious over the past several years, when KGNT new managing director Dr Fuad Serikov lead the company. Over the span of many years, we also could see Dr Tarassov's tireless, diligent, painstaking effort, often unseen by strangers, helping to organize the company development. A team player by definition, humble and ambitious, strong and focused, Dr Gennadiy Tarassov worked hard fulfilling one project after another! On 23 January 2015 KGNT held in Almaty with support of the Energy Ministry, KazMunaiGaz and Kazenergy association a high level international conference Integration of modern process solutions and standards in oil and gas industry.
EXPLORATION AND PRODUCTION
SPD holds an enhanced oil recovery
forum in KazanSPD holds an enhanced oil recovery forum in Kazan
On 18-19 March, 2015, Salym Petroleum Development N.V. (SPD), jointly with the State Commission for Reserves (GKZ) and the Kazan Federal University (KFU) held the Mature Field. Development 3.0 conference in Kazan. The conference was also sponsored by the government of the Republic of Tatarstan and the government of the Khanty-Mansi Autonomous Okrug Yugra (KHMAO) and focused on enhanced oil recovery techniques.
EXPLORATION AND PRODUCTION
UK budget slashes petroleum revenue taxUK budget slashes petroleum revenue tax
On 20 March 2015 Wood Mackenzie has issued its verdict on the four changes that the UK government made to Britain's upstream fiscal regime in this week's budget. These comprise: A reduction in the supplementary charge tax (SCT) from 30% to 20%; Reduction in petroleum revenue tax (PRT) from 50% to 35%; Introduction of a basin-wide Investment Allowance, allowing exemption of 62.5% of new investment expenditure from SCT; ?20 mn ($29.5 mn) support for the newly formed Oil and Gas Authority to commission seismic and other surveys on underexplored areas of the UK continental shelf (UKCS) during 2015-2016.
REFINING
 In the age of improved margines In the age of improved margines
Refinery margins have been on an upward trend since mid-2014, despite initially lacklustre demand growth. More recently, cold weather and lower retail product prices helped spur stronger demand growth in some countries. Perhaps more importantly, refinery outages and weaker runs in many non-OECD countries seem to have created opportunities for plants with surplus capacity in more mature markets.
REFINING
Singapore refining phenomena
for the Baltic regionSingapore refining phenomena for the Baltic region
Latvian trader and retail operator Dinaz prepared memorandum with China's Sinopec and CPPG on the construction of a new refinery in Latvia. The Chinese partners have to solve the issue of crude supplies with Russian companies. There is solid ground to believe that such deliveries will be arranged to the mutual benefit of the Chinese, Latvian and Russian partners. In case of successful implementation this project will give a powerful stimulus to fuels trade in the region as well as make significant changes if the regional crude oil and products flows.
ASSOCIATED GAS PRODUCTION
 Steering through the stormy water Steering through the stormy water
Russia's energy and chemical consultancy CREON Energy held on 23 March in Moscow 6th international conference Associated Gas Production 2015. The WWF and All Russian organization Delovaya Rossiya (Business Russia) supported the event.
NATURAL GAS
 All the friends to spite All the friends to spite
The general rhetoric justifying such draconian move is all in favor of the soonest filling of the state coffers. Presenting the draft law in Verkhovna Rada (Ukraine's parliament) Finance Minister Natalia Yaresko explained, that taxes will actually increase profitability of Ukraine's natural gas producing enterprises, as funds are going to be used for the further development of the upstream sector in Ukraine. She added that the move would bring an extra 9bn Hryvnia ($310mn at current rate)to the state budget, which is going to help to support low budget house-holds.
NATURAL GAS
 Ukrainian Energy Forum: The rays
of optimism Ukrainian Energy Forum: The rays of optimism
A number of skeptics criticized the national oil and gas monopoly Naftogaz Ukrainy for never turning into reality its broadly stated declarations about plans to separate its trading and upstream busy from the giant natural gas transportation system in order to bring more transparency and attract foreign investment. However, a number of pragmatic minded specialists insisted, that only retaining its current state of consolidation with the gas transportation system (GTS) Naftogaz remains legitimate enough financially player to deal with Gazprom in multi-billion natural gas deals.
COMPANIES
Motor Sich JSC: Industrial units and
power setsMotor Sich JSC: Industrial units and power sets
Motor Sich JSC is an advanced multi-industry knowledge intensive high technology manufacturing facility of aeronautical propulsion sector, which is dedicated to design, development and manufacture of state-of-the-art gas turbine engines and power plants for national economy, mainly for oil and gas industry.
INTERNATIONAL TRENDS
 Advancing along the road of integration Advancing along the road of integration
The international experience shows, that sustainable international unions with participation of one or several big economies, are based on ability to generate demand growth, new sectors of economy development, innovations, as well as solid defense power. The agreement on Eurasian Economic Union (EAEU) took force starting from 1 January 2015. For Russia, Kazakhstan and Belarus the agreement on EAEU is supposed to create conditions for the stable development of economies, create unified market for products, services, capital and labor force, as well as boost all national economies competitiveness
04 / 2018