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OilMARKET 12 / 2007
TOPIC OF THE ISSUE
The call of oil terminalsThe call of oil terminals
The second annual Oil Terminal 2007 forum, held at the beginning of November in the Moscow Holiday Inn by Vostock Capital attracted huge interest from oil and gas and related sector professionals despite having a significantly different format, than a year ago. The export boom created unusual demand in the region for developing crude loading facilities and lately oil product loading terminals.
PERSON OF THE ISSUE
RussiaRussia's third president
On 2 March 2008, Dmitry Medvedev will become Russia's third president. On 10 December, current Russian President Vladimir Putin supported the candidacy of his first deputy prime minister for president of the country. Medvedev was nominated by several parties at the same time, including United Russia, A Just Russia, the Agrarian Party and Civil Force.
PHOTO OF THE ISSUE
Stormy weather hampers crude spill clean upStormy weather hampers crude spill clean up
The loading buoy foreground with the Statfjord A platform behind, on 13 December 2007, which was involved in oil spill the day before. The spill occurred when the tanker Navion Britannia was loading oil from the buoy. Bad weather is hampering efforts to clean up a roughly 25,000-barrel oil spill from the North Sea platform off Norway.
EXPLORATION AND PRODUCTION
Yuzhno-Russkoe field with a German accentYuzhno-Russkoe field with a German accent
The Yuzhno-Russkoe field is opened
For the first time in several years, Russian natural gas giant Gazprom has opened a large gas field in which a 25%-1 stake belongs to a foreign energy company. And despite German BASF controlling only one fourth of shares at Yuzhno-Russkoe, it will get over one-third of the income from gas sales. Germany's E.ON which could become the second foreign partner in this Yamal project, is winding up intensive negotiations with the Russian gas monopolist. Gazprom first-deputy chairman of the board Dmitry Medvedev said during the ribbon-cutting ceremony that Russia is open to cooperation in such large projects and called the start of joint work an investment in Europe's energy security.
EXPLORATION AND PRODUCTION
Black sea treasureBlack sea treasure
Chornomornaftogaz confirms industrial reserves at Ukraine's largest oil field
Just as the New Year arrived, the state joint stock company Chornomornaftogaz, which is part of the Naftohaz Ukrainy national holding, completed drilling and tests at the first exploration well in the Subbotino oil field. Preliminary data confirms industrial reserves at Subbotino to be around 100mn t. OILMARKET asked Chornomornaftogaz General Director Anatoly Prysyazhnyuk to comment on this discovery.
EXPLORATION AND PRODUCTION
Marathon sets up house in KyivMarathon sets up house in Kyiv
Marathon International Petroleum Ltd, a 100%-owned subsidiary of the US firm Marathon Oil Corporation opened a representative office in Kyiv at the beginning of December. The house warming in a large office in the city center is proof this American mini-major is serious about its plans to develop Ukrainian hydrocarbons deposits.
TRANSPORTATION
Twisted future of Ukrainian pipesTwisted future of Ukrainian pipes
Does Russia plan to stop using Ukraine's large diameter pipes?
According to preliminary information from Ukrainian authorities and pipe manufacturers, Russia's Gazprom plans to stop buying large-diameter Ukrainian-made pipes (LDP) as early as 2008. Experts believe there are both economic and political reasons for this.
DOMESTIC MARKET
Dinaz is backDinaz is back
Our readers are already familiar with the name of this Latvian company and its ambitious plans to build an oil refinery and oil loading terminal in Latvia. And Ukrainian traders operating during the blossoming of the import supply market in the second half of the 1990s also know this team — and not just from reading newspapers and magazines! In the 1990s, Dinaz shipped impressive volumes of oil products to Ukraine, some months as much as 100,000 t. Like many other exporters of Russian and Belorussian fuel, the company's supplies were suspended in the wake of the 1998 financial crisis and they failed to rebound due to changes on the Ukrainian market.
DOMESTIC MARKET
Gazprom moves from strength to strengthGazprom moves from strength to strength
The natural gas price is set to grow with energy security in mind
On the eve of Russian parliamentary election natural gas giant Gazprom received a royal gift, becoming a potential owner of about 11 trillion m3 of gas. According to the government decision licenses for 31 fields from a special undistributed fund have been transferred to the federal gas reserve for which the monopoly has priority rights. This could result in Gazprom's reserves increasing as much as 20%. Besides this, the Federal Tariffs Service (FTS) announced Gazprom has the right to raise domestic prices in Russia in 2008 by 25%.
DOMESTIC MARKET
Toyota's first Russian filler
Lukoil-Severo-Zapadnefteprodukt (a 100% Lukoil subsidiary) and Toyota Motor Manufacturing Russia have inked on 21 December an agreement on motor fuel supplies. The agreement means Lukoil will deliver Euro-3 compliant Premium-95 gasoline to the Toyota car plant in St. Petersburg to initially fill cars coming off the Toyota Camry assembly line.
COMPANIES
Two owners for Tomskneft
Rosneft and Gazprom will divide control over producer Tomskneft
At the end of November 2007, Russia's former largest oil company Yukos officially ceased to exist — an entry was made in the Russian national registry of businesses noting its had been liquidated. As is now widely known, most of Yukos' oil producing, refining and sales enterprises were acquired by Rosneft.
03 / 2018