|TOPIC OF THE ISSUE|
|The new face of MIOGE|
MIOGE has long since become the region's industry tradition as well as the largest industry exhibition and conference. This year, MIOGE has become the reflection of changes afoot in Russia's oil&gas industry and the economy in general.
|PERSON OF THE ISSUE|
Director, Oil and Gas Sector, Societe Generale CIB
Let's face reality, dynamic development of oil and gas projects in the former Soviet Union today would stumble without financial involvement of powerful western banks. The volumes of financing grow and so does the importance of the experts and analysts mission in the banks. They have to be aware of development details in a number of projects in upstream, refining and trading, as well as follow investment climate changes in Russia, Kazakhstan and other countries of the region.
|PHOTO OF THE ISSUE|
|Saving Private Ryan|
Lebanon is surrounded. Apart from border with Syria and northern border, the country has been shut off for marine and air communications. Oil storage facility continues to burn, after being hit in an Israeli missile strike in southern coastal city of Sidon; Lebanese wait in line to fill their empty cooking gas canisters.
|The water treatment conference in Lithuania|
Two-tier Н2О treatment
On 15-16 June Lithuania's city Kaunas hosted a technology conference «Efficient technologies of treatment for desalted water. Two-tier treatment and maintaining optimal water chemistry», for Russian, Ukrainian, Belarus and Kazakhstan businesses operating in refining and petrochemistry, as well as for chemical, agrochemical, metallurgy and power production plants and the industry's R&D centres.
|Rosneft determined to boost its refining segment|
Shifts in Russia's tax climate provide ever more lucrative returns for Russian oil companies' product exports. The incentive is particularly important for those companies with high production and low refining volumes. The prime example is changes in state-owned Rosneft. At a meeting on 11 July, Rosneft managers outlined downstream projects in the company's $2.2bn development strategy.
Eight underground pipelines for smuggling Russian oil products into Ukraine have been discovered on the Russian-Ukrainian border, the Ukrainian Border Service reported.
|Lukoil's Turkish gambit|
Lukoil is going to build up its presence in Turkey: the company plans refinery project in the country, as well as acquisition of a terminal and leasing of a gas filling stations network. Experts believe that Russian company might grab up to 15% of Turkish oil products market should its plans be successful. Lukoil stresses that Turkey becomes a highly promising market. Experience gained after years of operations abroad will help Lukoil to conquer new territories.
|Loose change in Yuans|
Sinopec helps Rosneft to get Udmurtneft controlling stake for free
Russia's state-owned Rosneft again hit the bargain. One-and-half years ago the company was able to snatch at the auction Yukos key production unit Yuganskneftegaz. The acquisition was at a large discount and enabled the company to boost its production and resources times-fold. Gaining control over Udmurtneft producer (earlier a part of TNK-BP supplying some 8% of the integrated company's annual production) will require from Rosneft no financial effort whatsoever. This production unit was acquired by China's Sinopec, which will amiably share Udmurtneft's controlling stake with Rosneft.
|The inner dynamics of Black Sea region|
The Bulgaria-based Prista Oil is well-known in the Black Sea region. Its branches operate in Macedonia, Moldova, Romania, Serbia, and Ukraine. Received in 2005 licence from international giant Valvoline for production of over 30 brands of lubricants in Istanbul, Turkey, propelled the company to leading ranks in production, transportation and sales of lubricants in Black Sea market. Prista Oil capitalises on its position on the Ukrainian market, supplying for export base oils and importing the high-tech lubricants. The company is expanding its hold by boosting the capacity of own lubricants terminal completed in 2004 in Odessa port.