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OilMARKET 08 / 2011
TOPIC OF THE ISSUE
RussiaRussia's small and medium-scale refining development: current stage
Russia has so far managed to retain its world's top O&G producing country status. Russia's crude oil production in 2011 is expected to increase 1% compared to 2010 and hit record-breaking 10.2mn b/d (510mn t/y). The country's O&G investments till 2020 are penciled at $287bn (RUB8.6trln)
EXPLORATION AND PRODUCTION
Driving the countryDriving the country's energy Renaissance
Canadian became the first foreign specialist to receive the medal of Volodymyr Luchytsky, named after distinguished Ukrainian geological scholar
Ukraine's State service of geology and subsoil resources (Derzhgeonadra), the country's leading geological agency entered the stage of massive transformations. Changes will have to bring higher efficiency of the state efforts in oil and gas exploration and boost domestic oil and gas production. The leadership of the company puts it very clear: Ukraine will not be able to achieve energy independence in foreseeable future without transparent mechanism of access to the subsoil riches and attracting the leading international companies and independents with their technology and investment potential.
EXPLORATION AND PRODUCTION
EOR deficiency syndrome:EOR deficiency syndrome:
Russia's government intends to intensify crude oil recovery by tax reforms
Russia's MPs suppose that the export duties reduction and excess profit taxes levy can prompt oil companies to increase financing in the latest enhanced oil recovery (EOR) methods, which will ensure sustained record-high production rates.
REFINING
Bulgarian court supports LukoilBulgarian court supports Lukoil
Bulgaria's supreme administrative court gave judgment on 11 August concerning the tax dispute between Russia's vertically integrated Lukoil and the country's customs authorities: Lukoil can continue 142,000b/d Neftokhim Burgas refinery operation until the court ruling on the legality of the company's fuel storage license revocation by Bulgarian custom service. Some experts believe that the decision ensures uninterrupted refinery operation at least till the end of 2011 with respect to the proceedings duration.
REFINING
Yenisei launched new refinery in RussiaYenisei launched new refinery in Russia's Komi Republic
Russian producer Yenisei launched on 15 August the first $316.6mn stage of the new 26,000b/d O&G refining complex in Usinsk district (Komi Republic, Russia).
EXPORTS
Nikolay Yermolayev: ship out and brave the storm!Nikolay Yermolayev: ship out and brave the storm!
Latvian holding Dinaz is a well-established and one of the leading oil products traders in the Baltic region having developed active partnership with the neighboring Russia's and Belarus' refiners as well as Kazakh and other Central Asian traders. The company, Latvia's major retail network operator, also plans to build a loading terminal in the port of Riga and 120,000b/d refinery in Daugavpils. OILMARKET met with Dinaz president Nikolay Yermolayev to discuss the company's current activity and development plans
NATURAL GAS
Stinks bad, pays wellStinks bad, pays well
When Russia's natural gas passes Ukraine transit systems, it starts to «smell badly» That's exactly the Ukraine's precious president (2005-2010) Victor Yuschenko said about precious Russia's export commodity. Some observers in Russia asked whether the transit volumes would smell like French perfumes, should it be the vise-versa situation and export volumes would go from the EU to the Russian Federation
TECHNOLOGY
Telekom-Complex innovative solutions for emergency warning systems efficiency enhancementTelekom-Complex innovative solutions for emergency warning systems efficiency enhancement
Ukraine's Kharkiv-based Telekom-Complex introduced in 2011 its improved emergency-broadcast system. The system (unprecedented for Ukraine) was installed at the Dniester river hydroelectric pumped-storage power plant in Novodnistrovsk (Chernivtsi region, Ukraine) and associated with the emergency control post at Chernivtsi regional administration.
04 / 2018