Oil and Gas

In Q1, Saratov refinery increased its net profit by 20% to 807.5 million rubles

In the 1st quarter of 2013, the net profit of the Saratov refinery (a subsidiary of BP-TNK, which was bought by Rosneft in March) grew by 19.65% as compared to the same period of the last year to 807.523 million rubles, the enterprise reports.

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In Q1, Basheft increased oil production by 0.1% to 3.844 million tons

In Q1, Basheft increased oil production by 0.1% to 3.844 million tons. Average daily production was 42,700 tons, reaching the maximum level over the last 17 years.
The oil refining complex increased production by 1.9% to 5.216 million tons. Theverage depth of oil refining was 84.5%, slightly more than in Q1 2012. Light oil products yield increased to 60.2%.

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Ukrtransnafta is eager to pay off credit of $120 million in 2013

Ukrtransnafta is eager to pay off credit of $120 million in 2013, raised in Merrill Lynch Bank in 2006 for upgrading of the Ukrainian gas transporting system. The sides signed the contract about attraction of a credit in Merrill Lynch for $120 million under 7.5% per annum was signed on June 8 2006. In September 2009, Ukrtransnafta appealed with a claim to the Economy Court of Kiev with a request to cancel the registry certificate of the main department of the national bank of Kiev and the Kiev region about registry of the credit contract but in 2010 the company withdrew the suit.

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Court forces Naftogas to return almost 5 billion cubic meters of gas

The Kiev’s commercial court has forced Naftogas to return 4.8 billion cubic meters of gas to the gas-transportation system. The corresponding solution was made at the suit of Ukrtransgas, the Ukrainskaya Pravda reports.

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The Russian Government is ready to support the law project about hard extractable oil taxation

The Russian Government is ready to support the law project about differentiation of mineral tax for hard extractable oil. The Governmental Commission for law project activity has approved the corresponding document. The law project presupposes differentiation of mineral tax rate depending on the indices of collector transparency, exhaustion of the deposit and the rate of layer oil productivity.

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In 2012, Proved gas reserves of Gazprom maintained at the level of 19 trillion cubic meters

In 2012, the proved gas reserves of Gazprom under international standards PRMS insignificantly decreased from 19.2 to 19.1 trillion cubic meters, the Russian gas holding company reports.
The prospective reserves grew from 3.6 trillion cubic meters to 4.3 trillion cubic meters. The proved and prospective reserves increased by 2.6% to 23.4 trillion cubic meters. Gazprom explains the growth of these reserves by “introduction of the new projects of the Kovykta field in audit”.

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KazMunaiGas insures itself against cheap oil

KazMunaiGaz has designed and approved a special plan of stabilization measures in 2013-2015 in case of decrease of oil prices at world markets below $80, the Neft Rossii reports, referring to the company’s press release.
Thus, the company is ready for actions that will allow it to maximally temper the negative impact of such course of events. This plan was designed in accordance with tasks, determined by the Kazakh President in his message to people of Kazakhstan.

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GE has demonstrated to Rosneft high technologies for efficient gas extraction and monetization for the Arctic shelf development

General Electric (GE) has demonstrated to Rosneft high technologies for oil and gas exploration and production during a visit to the production enterprises and the engineering centers of GE located in Italy, Great Britain and the USA. GE presented to the delegation of Rosneft headed by the President, the Chairman of Management Board I. Sechin the new technologies giving an opportunity to achieve maximum efficiency in the full gas utilization cycle.

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From May 1, Belarus to decrease export oil and oil products duties

From May 1, Belarus will decrease export oil and oil products duties, the decree of the Republic’s Council of Ministers says.

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On April 19, the daily oil and gas condensate output was 1.4337 million tons in Russia

On April 19, the daily oil and gas condensate output was 1.4337 million tons in Russia, the Central Dispatch Department of Fuel and Energy Sector reports. Production was 334,700 tons in Rosneft, 230,300 tons in Lukoil, 221,500 tons in BP-TNK, 168,000 tons in Surgutneftegaz, 133,600 tons in Gazprom Neft, 72,600 tons in Tatneft, 46,800 tons in Slavneft, 43,300 tons in Bashneft, 57,100 tons in Gazprom and 37,300 tons in Russneft.
Translated by Nadezhda Poltoratskaya       

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