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OilMARKET 05 / 2003
President Aliev, AlievPresident Aliev, Aliev's son
The hushed talk of experts on Azerbaijan has proved true. Ilham Aliev, the son of incumbent President Geydar Aliev, has got into the office, backed by some 80% of voters. Opposition leader of Musavat party Mr. Isa Gambar got a mere 12% voter's sympathies.
Oil-black Klondike KazakhstanOil-black Klondike Kazakhstan
Having turned into a real Mecca for oil explorers, Kazakhstan now experiences an oil-rush earlier unheard of within CIS.
We tend to diversify
Interview with Satoshi Sasaki, Deputy Director General Technology Research Center Japan National Oil Co (JNOC)
Tender for Talakan: The Stop-and-Go Saga
Russia's Ministry of Natural Resources and the government of Sakha republic (Yakutia) agreed to provide Russia's third largest vertically integrated company Surgutneftegaz with a short term right for development of Central block of Talakan oil and gas field (for the period of one year or till the proper tender/auction will be held). According to the law On subsoil a short term license may be issued on a non-tender basis. According to the statement of the ministry of natural resources, Surgutneftegaz had submitted all the documents needed and is known as one of the most reliable bidders with all necessary technical and financial facilities required to successfully develop the field. Up to 10 October 2003, the operating license for the Central Talakan was in hands of close to Yukos company Lenaneftegaz.
Pulling Chestnuts Out...Pulling Chestnuts Out...
The history of foreign investment in the CIS oil and gas projects saw a number of mega deals, with hundreds of millions and even billions tones of crude and billions dollars at stake. Foreign companies had been coming to Russia, Kazakhstan and Azerbaijan with full pockets of cash. Still, it would be unfair to say, that only large investors have their chance to make profit in the countries of the former Soviet Union. The story of Canadian-Ukrainian joint venture Kashtan Petroleum ltd is an illustration of how much commitment and tenacity of a foreign investor results in sustainable growth and still requires a lot of patience to survive on the market.
Brasil: big success of an independent producerBrasil: big success of an independent producer
The Role of Independent Companies in Joint Ventures with Large National Petroleum Companies
The CPC is advancing its plans to expandThe CPC is advancing its plans to expand
The president of Caspian Pipeline Consortium (CPC) Ian MacDonald, had a distinguished career at Chevron before taking up his post, which is quite a challenging one he's in centre of quite a dynamic situation in quite a successful company. In one of recent interviews with Transneft's president Semyon Vainshtok he's commented on that the CPC was a historical mistake Well, it looks like CPC was one of the most remarkably successful historical mistakes in the history of oil&gas industry. OilMarket recently had a possibility to ask few questions to Ian MacDonald.
Russia and Belarus failed to resolve pipeline disputeRussia and Belarus failed to resolve pipeline dispute
Belarus and Russia could not reach agreement in the dispute over property rights on products pipelines crossing Belarus territory. In the end of October Belarus acting vice-Premier Vladimir Semashko and Russia's energy minister Igor Yusufov tried to resolve this issue at their meeting in Moscow, but most indications show that they failed to reach compromise. The two sides agreed only to resume talks later this year.
Never say neverNever say never
A new twist in biography of Mikhail Khodorkovsky
American GasboyAmerican Gasboy
Judging by the Russian newspapers'ads, gas station operators still fill the top positions on the list of the most wanted work force in the half-wide West. Every third recruiting agency promises to provide any job-seeker with a fuelling nozzle. Of course, this is not tourism but who says that a gas station is not the best place for a meditative observer who wants to understand the soul of American people? A bar is the second best place for it.
Hopeful on the African shores.Hopeful on the African shores.
Naftogaz Ukrainy may produce first barrels of Libyan crude already in 2004
Having signed on 14 October 2003 the Memorandum on Cooperation with Libyan National Oil Company (NOC), NJSC Naftogaz Ukrainy for the first time in country's history brought the negotiations on an overseas-based upstream project to successful conclusion. According to the Naftohaz Ukrainy the business plans for four oil fields selected fofr exploration and production will be ready by the end of November. This is going to enable Ukrainian side to start exploration drilling as soon as early next year. Initial stage of exploration and development, implies that Ukrainian state oil and gas holding will have to invest some $100 million with returns expected as soon as in 2006-2007.
Ministry of Natural Resources Tightens Grip on ForeignersMinistry of Natural Resources Tightens Grip on Foreigners
Russia's ministry of natural resources (MPR) zooms in on the foreigners pursuing a career in Russia's upstream sector. The ministry's choice befell on companies operating on Sakhalin island. The officials also inform that by the end 2003, early 2004 the latest, the inspectors would scrutinize on the issue of meeting license requirement not only Russian major Yukos, but also such oil majors as Shell, operating Salym Group of oilfields and investor in the Sakhalin-2 project as well as ExxonMobil, operating Sakhalin-1. Both projects are worth some $10 bn of investments each and both are developed on the production sharing agreements (PSA) basis.
Kairgeldy Kabyldin:Kairgeldy Kabyldin:
We have to decide, which markets we target
The pace of pipeline network development in CIS countries' is high today as never before. Naturally, coordination of the interests of different CIS players in the issues of oil exports and oil transit is getting increasingly complicated. OilMarket meets with managing director on infrastructure of transportation and service projects of the Kazakh state monopoly KazMunaiGaz Kairgeldy Kabyldin.
Spain refinery hit by strike
Human casualties at Repsol's refining facilities in Puertoliano, Spain, resulted in clashed between refinery workers and special police forces. This forced the company management to shut down facility for at least one week. Protesters have blocked driveways to the complex, however, the military had no intention to attack the crowd as previous attempts, had not only been futile, but had also resulted in casualties.
Petrom on the way of Gradual PrivatisationPetrom on the way of Gradual Privatisation
For Romania, with its oil consumption-output ratio of 2:1, (the figures give 129,863 b/d (6 mn tpa) upstream, 259,726 b/d (12 mn tpa) consumption) burning issues of foreign investment prop up the importance of stable hydrocarbons supplies. Zooming in on state-owned oil&gas producer Petrom, the Government faces a stiff task of holding on to Petrom's assets whilst privatising the company to lure in suppliers of oil.
01 / 2020