|TOPIC OF THE ISSUE|
|Hopeful in Crimea|
An independent Canadian oil&gas producer Transeuro Energy is developing several gas condensate fields in Ukraine. The company is paving its way to success amid Ukraine's post-soviet business realities and on the wave of country's growing desire to boost domestic production. The latter is driven by soaring crude and natural gas prices.
|PERSON OF THE ISSUE|
|RTS president Roman Goryunov|
The high potential
Roman Goryunov was unanimously elected a new president of the RTS (Russian Trading System commodities and stock exchange) at the extraordinary shareholders meeting on 25 July. Having worked for the company since 2001, in 2005 Goryunov was promoted to the position of vice-president of the RTS. At these posts, he devoted much effort to setting up futures trade in oil and oil products — in 2006 RTS pioneered trading futures on Urals crude blend and oil products.
|PHOTO OF THE ISSUE|
|Gas pipeline explosion wakes up St. Petersburg|
An explosion of pipe started off a fire at 799th kilometre of Belousovo — St. Petersburg gas pipeline (near Novo-Devyatkino village, Leningrad region) of 26 July in early hours. The fire was sealed off by automatic equipment; Fire-fighters used some 30 units of equipment and extinguished the fire in two hours time, no casualties or injured have been reported.
Complex-oil gets Russian National Olympus award
At 11th St. Petersburg International Economic Forum, Complex-oil state-owned wholesale oil products trader received Russian National Olympus, the key Russian Public Award. The only Public Award in Russia reflects the breakthroughs in all spheres of Russian community and acknowledges contributions to the nation's economy and consolidation of the nation.
|The Moscow Accent|
Forbidden fruit is sweetest. Sweeping nationalisation of Russia's oil&gas industry and spiralling prices for hydrocarbons define acute interest of majors, engineering companies and banks to the industry forums in Russia.
|Brilliance of logical approach|
Reliable stability and logical approach of present at MIOGE engineering giants stood out well on the background of Russia's oil&gas industry agonizing quest for a systematic development, coupled with rising number of behind-the-scenes rumours on upcoming industry changes.
|EXPLORATION AND PRODUCTION|
|Waiting for the wind of changes|
Ukraine's Crimea-based Chornomornaftogaz keeps on work on the offshore gas production and development projects and pipeline infrastructure in spite of financial challenges and mounting burden of social responsibility
in big projects, every little thing matters
Today's Russian oil companies are keen on developing refining segment. Such desire re-draws the reality of everyday Russian economy, which was noted in a recent presentation of Vladimir Kapustin, professor, general director of VNIPIneft R&D centre. Kapustin holds that Russian refinery upgrading projects are dominated by Western engineering companies. At the same time, industry's experts acknowledge that many refining modernisation projects are rather slow-paced while rather expensive. KOCH GLITSCH is one of such companies — but its CIS experience is largely unique. The company is one of the old-comers to the region's market. OILMARKET asked KOCH GLITSCH vice president Oldrich Navratil about the company's view on Russia's refining industry development outlook and growth potential.
|Cleaning the domestic fuel market|
The Russian government entered the fight to uproot vast volumes of bootleg motor fuel produced in the country. No doubt that this phenomenon needs to be fought. The Russian parliament recently introduced a bill which will complicate the lives of those who love to sell bootleg fuels, threatening them with large fines and jail time.
|Associated gas utilisation|
Gas flaring costs Russian oil companies over $14.4bn every year. Within 12 months, Russia's ministry of natural resources plans to draft amendments covering associated gas utilization, said the minister Yuri Trutnev on 18 June in Khanty-Mansiysk meeting on associated gas usage. «We've agreed with the present there heads of the companies that a working team of experts would operate in parallel with our meeting, offering us a draft joint communique by the end of the meeting. In our turn, we would try to assess the issues mentioned and amend the legislation accordingly within one year», noted Trutnev.
|TNK-BP's difficult decision|
TNK-BP leaves Kovykta project, Gazprom enters the scene
Gazprom keeps on consolidating Russia's large gas-related assets earlier controlled by private companies. There was little doubt that Gazprom would lock in on the giant Kovykta gas condensate field (Irkutsk region) once the giant completes acquisition of the controlling stake in Sakhalin-2 project.
|OMV boosts its stake in MOL|
OMV Aktiengesellschaft, the leading Central European oil&gas group, has acquired several blocks of MOL shares. The average price per share was close to the traded market price, implying a total of some ˆ1bn. Currently OMV now holds 18.6% of the issued MOL shares.
|Centrifugal compressor for utilisation of associated gas|
Kazan-based NIIturbokompressor has always been paying due attention to energy saving technologies, loss limitation and environmental improvements at upstream locations.