Russia

Arctic oil supplies can be oriented to Europe in the future – Lukoil

In future, the Arctic oil deposits can be oriented to the Europe market, the chief of Lukoil V. Alekperov says at the international conference ‘Russia – the European Union: the opportunities for cooperation’. He states that, historically, oil supplies infrastructure, including gas and oil pipelines, all port buildings was created in direction of the European market. He states that in future the priority of supplies will not change.
Translated by Nadezhda Poltoratskaya

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Mechel has signed agreement with Baosteel

Mechel has announced about signing of a memorandum for raw material supplies by its subsidiary Mechel Carbon (Singapore) and the Chinese Baosteel Resources, the subsidiary of Baosteel Group. In accordance with the memorandum, signed on March 18 in the new head-office of Baosteel Resources in Shanghai, Mechel Carbon will annually supply 960,000 tons of coking coal to Baosteel. The agreement is closed for 1 year with ability for prolongation. The price of supplied coal will be defined every month.

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Lukoil hasn’t concluded the deal on sale of the Odessa refinery

The deal on purchase of the Odessa refinery hasn’t been concluded yet, the Head of the oil company Lukoil Vagit Alekperov stated to journalists.

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In January, price of German gas for the Ukraine was almost by $20 less than the price of Russian gas

In January, the Ukraine bought 46.7 million cubic meters of gas to the total amount of $18.2 million from Germany; the total price made up $390 per 1 thousand cubic meters, the State Statistics Service reports on its site.

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Lukoil Overseas has doubled annual profit

In 2012, Lukoil Overseas doubled net profit by ISA to $1.4 billion, increased revenue by 45% to $2.3 billion, trade hydrocarbons production at all international upstream projects of Lukoil with exception for Tengiz by 13% to 68.4 million barrels in oil equivalent, mostly at the expense of growth in gas development on Uzbekistan. First oil production at West-Kurna 2 in Iraq is awaited in the end of 2013 or the beginning of 2014. In April 2012, they started arrangement of the first stage of the deposit within the project.

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Alekperov: Cypriot problems not to infringe on oil prices; Lukoil hasn’t discussed Cypriot assets

Developments in Cyprus won’t lead to changes in oil prices, Lukoil hasn’t considered possible deals on energy assets in this country, the Head of one of the largest Russian oil companies Vagit Alekperov said to the agency Prime.

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Abramovich Jr. to carry out oil production

According to mass media, the eldest son of Russian billionaire Roman Abramovich, 19-year-old Arkady has received a share in a Siberian oil deposit. The company ARA Capital, controlled by Abramovich Jr., bought 45% of the company Zoltav’s shares.

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As of March the 20th of 2013, the volume of daily production of natural gas in the Russian Federation made up 1 929.1 million cubic meters

As of March the 20th of 2013, the volume of daily production of natural gas in the Russian Federation made up 1 929.1 million cubic meters

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On March 20, the daily oil and gas condensate output was 1.4282 million tons in Russia

On March 20, the daily oil and gas condensate output was 1.4282 million tons in Russia, the Central Dispatcher Department of Fuel and Energy Sector reports. Production was 339,500 tons in Rosneft, 230,600 tons in Lukoil, 214,600 tons in BP-TNK, 167,700 tons in Surgutneftegaz, 133,600 tons in Gazprom Neft, 72,400 tons in Tatneft, 46,400 tons in Slavneft, 42,700 tons in Bashneft, 48,700 tons in Gazprom and 23,000 tons in Russneft.
Translated by Nadezhda Poltoratskaya

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Gazprom’s sales policy in Europe might change

Gazprom’s sales policy might change due to the appearance of the USA in the European gas market, a source in the Government of Russia said.
He reminded that the issue of price setting is not in the competence of the EU, contracts are signed at the level of the economic entities. The source said that many companies by the conditions, “take or pay” current gas price calculation formula sometimes are not satisfied with Gazprom’s price policy.

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