Russia

Oil workers are sold out at the market – Alfa-Group picks up the financier of Rosneft

As the Kommersant has discovered, The Alfa-group, which created L1 Energy fund for investments into the oil and gas industry,has employed the former Rosneft Vice President of Finance, Dmitry Avdeev. He is considered one of architects of the deal on the acquisition of BP-TNK by Rosneft and impressed his new employers during the negotiations. The structures of Alfa-group took not very many of the numerous managers of BP-TNK, who are leaving the company from the end of 2012, but others successfully got jobs in other companies.
The former Rosneft Vice President of Finance, Dmitry Avdeed, who left the company in March, has found a new position. He will be in charge of finance in the L1 Energy fund, created by Alfa-Group for investments into oil and gas projects, asource, who is familiar with the situation, told the Kommersant. Dmitry Avdeev came to Rosneft in June of 2012 – just after the former Vice Prime Minister Igor Sechin headed the company. Then Rosneft started the negotiations on the purchase of BP-TNK from the AAR consortium (Alfa-Group, Access and Renova) and BP.

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Putin threatens Europe by an opening of the “second front”

The world gas producers are to confront the European rules of energy products supply, the Russian President V.Putin said during the Forum of gas exporting countries in Moscow. But analysts doubt that this organization will be able to set rules on the global energy market today. The Russian authorities keep fighting with the energy products market regulations norms, adopted in the European Union – the so called “Third Energy Package”. This document, in particular, is aimed at a diversification of the sources and an increase of the competione in the European gas sector using business separation on production, transportation and the sale of fuel to the final consumers. This reform makes Gazprom open  access to its pipelines for third-party gas suppliers at least or sell a part of its assets in Europe as the maximum.

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Shelf benefits are not enough for Gazprom – the level of profitability of the Prirazlom field doesn’t suit it

Gazpromneft shelf, which develops the Prirazlom field in the Pechora Sea, wants to receive new benefits for its project, because the current profitability level of 15% doesn’t suit it. The Ministry of Energy is unlikely to agree for additional benefits now, but another large shelf player – Rosneft – may support the stand of Gazpromneft.
Gazpromnef wants to receive additional benefits for its first project on shelf of the Arctic – the Prirazlom field. As the Deputy General Director of Gazpromneft shelf (it implements the project) Nikita Limonov stated yesterday, “the company works with government agencies to prepare an initiative on he granting additional benefits”. According to him, now the internal index of the project profitability is estimated at 15.4%, but “this may be insufficient”. As Gazpromneft shelf notes, the company faces the task to increase the profitability index to 16-17%.

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Joint ventures of Russian and Venezuelan companies to reach the production of 1 million barrels per day in 3-4 years

Russian-Venezuelan joint ventures will reach the production of 1 million barrels per day in 3-4 years, President of Venezuela Nicolas Maduro stated after negotiations in the Kremlin.

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Gazprom must pump over 19 billion cubic meters of gas into Ukrainian underground gas storages for fail-safe supplies to Europe in autumn and winter period

A working meeting of the Gazprom’s CEO Alexei Miller and Ukrainian Vice Prime Minister Yuri Boiko took place today.

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In 2013, Gazpromneft shelf to plan to produce 140 thousand tons of oil at the Prirazlom field

In 2013, Gazpromneft shelf plans to produce 140 thousand tons of oil at the Prirazlom field in the Pechora Sea, the company’s CEO Gennady Lyubin reported during a presentation.
The Gazpromneft shelf’s General Director, Alexander Mandel specified that the production plan-2014 makes up 600-700 thousand tons, depending on results of drilling. The drilling will be carried out from the marine ice-resistant stationary platform Prirazlomnaya, which was taken over by the company from the general contractor of the building Sevmash.

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In H1 2013, Russia increased oil exports via Kozmino by 37.6% to 10.6 million tons of oil

In H1 2013, Russia increased oil exports via Kozmino by 37.6% to 10.6 million tons of oil. Monthly exports were 1.6 – 1.9 million tons of ESPO oil.

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SOCAR reduces oil exports via the Baku – Novorossiysk pipeline

In H1 2013, SOCAR reduced oil exports via the Baku – Novorossiysk pipeline by 160,085 tons to 825,317 tons. Oil exports were 2,629 tons in January, 251,755 tons in February, 159,584 tons in March, 159,155 tons in April, 85,385 tons in May, , and 169,437 tons in June.

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Russia can share up to 20% of the global LNG market

Russia can share up to 20% of the global LNG market. It has competitive advantages in comparison to the  projects of  shale gas production and production at shelf, the chief and co-owner of Novatek, L. Mikhelson says. Now they have initiated and are realizing several new projects that will enlarge the Russian share at the global LNG market.
The chief of Gazprom A. Miller told before about the plans of the holding to enlarge its share at the global LNG market to 15%.

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Rosneft concludes a deal on the purchase of 49% more of Itera’s shares for $2.9 billion

Rosneft has concluded a deal on purchase of 49% more of Itera’s shares.
The value of the transaction made up $2.9 billion.
It became known on June 28, 2013, that the Federal Antimonopoly Service permitted Rosneft to increase its share in Itera to 100%.

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