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OilMARKET 11 / 2008
TOPIC OF THE ISSUE
Kyiv Oil and Gas Fair SummaryKyiv Oil and Gas Fair Summary
Ukraine hosted its largest oil and gas forum in Kiev for the 12th time the Oil and Gas 2008 conference and exhibit. The forum was organised by AKKO International with support from the state holding Naftohaz Ukrayiny and the Ukrainian Fuel and Energy Ministry. Two hundred and forty-six companies participated in the exhibit including 51 foreign companies like E.ON Ruhrgas, Gaz de France, Emerson Process Management, Honeywell, Kanex Krohne, Siemens, Schlumberger, Shell, Rosen Europe, Lukoil-Ukraine, TNK-BP Ukraina, Inogate, Polish Oil & Gas Company and many others.
PERSON OF THE ISSUE
The professionalThe professional's grip
Leonid Davydov the chairman of the board at Kremenchuk specialised management No.17
Years pass and Vikings come and go, but the caravan of KSM No. 17 moves on. In over 40 years, the enterprise has amassed colossal experience. The company carries out construction and assembly work at refineries, petrochemical and machine tooling complexes, ore-enriching plants and communal utilities.
PHOTO OF THE ISSUE
Tanker captured!Tanker captured!
The pirates who captured the Sirius Star of the coast of Somalia want a $25mn ransom
The newly-built tanker was filled with crude and together with its cargo is worth $100mn. The pirates captured the Sirius Star on 15 November. Llyod's, the world largest ship insurer, expressed the belief that the ship's owners would give in to the demand.
EVENT
The Thorny Path of Kazakh EngineeringThe Thorny Path of Kazakh Engineering
The world financial crisis which began in 2007 is gaining strength. For Kazakhstan, whose economy is based on the capacity of its powerful oil and gas complex, the sharp drop in hydrocarbon material prices was another hard strike. Yet as the old sages taught, there is a positive side to every situation. The rapid increase in the cost of foreign equipment gives Kazakhstan's metallurgy, engineering and machine tooling companies an additional chance to develop.
EXPLORATION AND PRODUCTION
The Russian shelf and the crisisThe Russian shelf and the crisis
Developing the Russian shelf is a multi-faceted problem that touches upon nearly every branch of science as well as the the economy, environment, safety and legal spheres. In the midst of today's economic crisis and with crude prices falling and crude production volumes declining, developing Russia's shelf is becoming a strategic priority.
EXPLORATION AND PRODUCTION
China enters oil and gas exploration project in UzbekistanChina enters oil and gas exploration project in Uzbekistan
Expanding its presence in hydrocarbons-rich Central Asia, and following series of oil and gas exploration, refining and pipeline construction projects in Kazakhstan and Turkmenistan, China National Petroleum Corporation (CNPC) entered yet another important project in neighboring Uzbekistan.
REFINING
TANECO begins assemblyTANECO begins assembly
Construction of the refining and petrochemicals complex in Nizhnekamsk is entering the technical equipment and pipeline assembly stage. Construction and assembly work worth over 1bn roubles was performed in October. Since construction began, construction and assembly work has cost 8.4bn roubles. Today, design specification work documentation has been compiled for 13.3bn roubles of work and contracts have been signed for supplies of over 229 pieces of equipment and supplies for the main, large-tonnage ELOU-AVT-7 unit have begun arriving. In November 2007, TANECO received credit for $2bn syndicated by BNP Paribas.
REFINING
A year without pipeline suppliesA year without pipeline supplies
In the year that has passed since oil pipeline supplies from Russia ceased, the technical managers at the Kremenchug refinery have passed the hard school of diversification.
REFINING
The Linik refinery begins operating practicesThe Linik refinery begins operating practices
The Linik refinery (Lugansk, Ukraine) has completed pre-launch work which had been carried out since the beginning of the current month. On 16 November 2008, all main process units at the facility began scheduled operating practices. TNK-BP's department of public communications told OILMARKET that in SeptemberOctober 2008, the refinery would cease operations for capital repairs during which time all process units would be thoroughly examined and old and worn equipment replaced and/or repaired.
DOMESTIC MARKET
The lines closeThe lines close
The Russian government introduces monthly export duties for crude
The world financial crisis which resulted in crashing crude prices was extremely negative for Russian oil companies. Nearly all of them have large credit burdens and it is now more difficult than ever for them to service their expensive debts at Western banks. The value of shares in Russian companies has dropped to very low depths a fact unlikely to brings smiles to the faces of their owners or even hired managers who were counting on big earnings from exercising options.
DOMESTIC MARKET
Penitence, prayers and pragmatismPenitence, prayers and pragmatism
The price of crude on the world market has once again played a cruel joke on Russians. Whether prices rise or fall, Russian consumers always end up pulling more and more cash out of their wallets. The culprit is the high level of monopoly in the country's oil product markets. Despite the fact the the Federal Antimonopoly Service (FAS) is trying to exercise pressure on oil companies, this effort has failed to bring real results. Oil industrialists made minimal cuts in prices while once again asking the Russian government for financial aid at the same time. So, even as world crude prices drop, it is the Russian government which will decide whether or not and how far prices at the pump will retreat.
NATURAL GAS
Debt!Debt!
Gazprom and Ukraine tussle over gas supplies yet again
As the world economic crisis continues and crude and oil product prices crash through the floor, Gazprom found nothing better to do than insure itself against looming prices cuts for gas than to rush Ukraine to pay for gas it has yet to sell to its consumers.
COMPANIES
Gazprom strengthens its position in central EuropeGazprom strengthens its position in central Europe
OMV, Gazprom and the Hungarian exchange agree on joint development of the Central European gas pipeline and setting up a gas exchange.
TECHNOLOGY
New generation pump equipment for oil processes at refineriesNew generation pump equipment for oil processes at refineries
Over the past two years, Lukoil-Volgogradneftepere-rabotka has gradually replaced old pump equipment used for various processes.The technology of oil processes at refineries is multi-staged. One obligatory process is cleaning residual crude asphalt. Before sending the asphalt for solvent refining or hydrogenation, it is treated by propane deasphalting. At most industrial units, deasphalting uses 9596% cleaned propane at a temperature of 45 and an additional density of r460 kg/m3.
TECHNOLOGY
Ultrasound protection for black goldUltrasound protection for black gold
A new device from ANALIQ-M protects oil products from theft and underfilling
In autumn 2008, Ultrasonic Advanced Technologies began serial production of ANALIQ-M ultra-sound depletion sensors.
TECHNOLOGY
The Korchagin field gets its own nitrogenThe Korchagin field gets its own nitrogen
On 22 October, the Russian company GRASIS supplied Lukoil with two nitrogen units with a total capacity of over 840 ncm3/hr providing nitrogen that is 97% clean. The units will be used on the shelf platform at the Korchagin oil and gas field in the north Caspian and will improve the company's effectiveness in adhering to production demands. The units provided by Grasis use the intensively developing membrane technology for separating gasses.
TECHNOLOGY
Assembly: a new twist to technologyAssembly: a new twist to technology
Alkon, the Kiev-based research firm, is introducing a new technology for assembling reservoirs to store crude, oil products and liquid chemicals using the plunging method developed by the enterprise's specialists. This method makes it possible to cut the time needed to build a reservoir while assuring a high level of safety during work.
TECHNOLOGY
Getting closer to subsoil assetsGetting closer to subsoil assets
Drillmec building a new HH-series drilling rig
Italian drilling equipment manufacturer Drillmec S.p.A., part of Trevi Group of companies, has started construction of its new hydraulic-hoist drilling rig HH600, the most powerful one in this series. The new rig's pull up capacity is 600 tons, which ensures fast and powerful drilling process.
03 / 2018