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OilMARKET 10 / 2004
TOPIC OF THE ISSUE
STEP BY STEPSTEP BY STEP
STATOIL STRENGHTEN ITS POSITION IN RUSSIA
Statoil regards Russia as a potential future core area and is prepared to invest in commercially attractive projects. In this connection the company is now expanding its activities and staff.
TOPIC OF THE ISSUE
RussiaRussia's LNG Future Multilevel Strategy
The start of Russian LNG deliveries to international markets, so much talked about in the recent years, is finally taking shape.
TOPIC OF THE ISSUE
THE LONG AND ICY ROADTHE LONG AND ICY ROAD
A gradual shift in hydrocarbon production from onshore to offshore is underway around the world: the move makes economic sense regardless of higher production costs and slower returns on investment, which are inherent in such projects.
PERSON OF THE ISSUE
George W. Bush,George W. Bush,
the president of the USA
Following the 2 November election of the US President George W Bush for the second term in the office, WTI futures jumped to $50.99/bl. George W. Bush, with all his virtues and shortcomings, remains the tenant of the White House for another term the response of the US market to the news is illustratory. There is every reason to assume that the very fact of re-election will prop up soaring crude prices for at least first half of his second term.
PHOTO OF THE ISSUE

Mazejkiu refinery the crown jewel of Lithuanias economy.
TRANSPORTATION
ON CONTRARY POSITIONS IN OIL BUSINESSON CONTRARY POSITIONS IN OIL BUSINESS
The throughput capacity of Transneft, Russia's state pipeline monopoly, remains a major issue for private oil companies. Eager to expand crude production, they claim they are held back by a pipeline network filled to the limit. Transneft counters by saying that for the first time in many years it has capacity to spare, in no small part because the oil companies often fail to meet their shipping schedules.
TRANSPORTATION
RUSSIAN CRUDE ENTERED THE CPCRUSSIAN CRUDE ENTERED THE CPC
Russian company Naftatrans entered the systems of the Caspian Pipeline Consortium (CPC) on 9 November, pioneering the start of Russian exports to this destination. Official sources named Russian producer Surgutneftegaz as the owner of crude, but the industry insiders insisted that crude was owned by Russia's pipeline operator Transneft and was supplied by Russia's battered giant Yukos as payment for the pipeline shipments.
TRANSPORTATION
A BLACK SEA SMEARA BLACK SEA SMEAR
In the past month, Russian and Ukrainian media have spared no effort in covering a supposed conflict that erupted between shareholders in Eximnefteprodukt, the owner of Odessa oil terminal. There were specious reports that a Kyiv court on 13 November ordered the seizure of the company's assets and accounts, resulting in the interruption of oil loading in the port. The supposed ruling was said to be a response to a suit which also never existed brought by Swiss oil trader Vitol.
REFINING
Setting New StandardsSetting New Standards
Mazejkiu refinery: Leadership yesterday, today, tomorrow
Lithuania's Mazejkiu refinery is well-known in Russian oil circles. What is less known is how it reached such a high performance level. OilMarket recently visited the company, and learned that management hit upon a simple yet exacting formula for success. As one of the newest Soviet-era refineries, it benefited from the best that those times had to offer and shrewd management and investment policies. Since independence, the Lithuanian government has provided considerable assistance, with a view toward creating an elite eastern European refinery.
REFINING
It is of paramaunt importance to us to have a flexible production processIt is of paramaunt importance to us to have a flexible production process
An interview with Viktoras Vasilavicius, Mazejkiu Nafta's deputy general director for refining
REFINING
LUKOIL CHARTS LONG-TERM COURSELUKOIL CHARTS LONG-TERM COURSE
Lukoil's board of directors met 22 October at the Odessa refinery, the company's premier Ukrainian asset. Issues discussed went beyond refining, of course, although there was a certain tilt towards that aspect of the industry.
EXPORTS
CRUDE EXPORTS: NEW RECORD SHIPMENTSCRUDE EXPORTS: NEW RECORD SHIPMENTS
Crude exports via the Russias pipeline monopoly Transneft systems hit in October new record high level. Russian oil companies and exporters from the CIS countries exported 17.32mn t of crude via Transneft pipeline systems, 5.6% higher than in September and some 20% up from October 2003.
NATURAL GAS
CHINA: FROM COAL TO NATURAL GASCHINA: FROM COAL TO NATURAL GAS
With its economy rapidly growing, China requires ever larger volumes of energy. In short, the issue is a pivotal one for the country. What does the future hold for Chinese utilities?
NATURAL GAS
A NATURAL GAS INDUSTRY IN TWO STEPSA NATURAL GAS INDUSTRY IN TWO STEPS
China sees natural gas and hydropower production as the main alternatives to coal consumption. Growing output of those two environment-friendly power sources will address the following.
COMPANIES
SEARCHING FOR STRATEGIC BALANCESEARCHING FOR STRATEGIC BALANCE
The Russian oil industry broke new ground with a 21 September deal under which South Korean giant LG is to construct a petrochemical complex in Nizhnekamsk, Tatarstan. The agreement was signed at the Kremlin during a Russo-Korean summit, signalling its strategic importance.
01 / 2019