Oil

From 2014, import of some oil products to be exempted from VAT in Azerbaijan

The import of refinery coke, oil bitumen and also residual products of oil, oil processing and bitumen-containing minerals will be exempted from paying value added tax (VAT). The corresponding decision on inclusion of these products in the list of goods, exempted from VAT, was adopted by the Azerbaijani Cabinet of Ministers on July, 5.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Russian oil refineries upgrading is accomplished according to the plan

Russian oil refineries upgrading is accomplished under the plan, the Deputy Minister of Energy K. Molodtsov says. The parameters of oil refineries upgrading arranged with the oil producers were fully accomplished in 2011 – 2012. They built and launched 21 new utilities, and are going to launch 13 such utilities in 2013. The volume of oil companies investment was $24.3 billion in 2012.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

In H1, Atyrau refinery processed about 2.3 million tons of oil

In the first six months of 2013, the Atyrau refinery, one of three refineries in Kazakhstan, processed 2 291.4 thousand tons of oil. 235 thousand tons of automobile gasoline, 589.1 thousand tons of diesel fuel, 26.1 thousand tons of jet fuel TS-1, 72.5 thousand tons of furnace oil, 828.9 thousand tons of commercial black oil, 345.6 thousand tons of vacuum gasoil, 37 thousand tons of coke, 7.5 thousand tons of liquefied gas and 1 thousand tons of commercial sulfur were produced, the plant informs.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

In July 2-9, 2013, commercial reserves of crude oil in Russia decreased by 83.0 thousand tons

In July 2nd-9th, 2013, the commercial reserves of crude oil in Russia decreased by 83.0 thousand tons (roughly by 606.0 thousand barrels), the Central Dispatch Department of the Fuel and Energy Sector reports today.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Oil companies, associated oil gas refiners need state support

Associated oil gas refining can be increased  with provision of state support to the companies engaged with such activity, the chairman of the party ‘The Green Alliance – the Popular Party’ G. Fetisov claims. In his opinion, the Government should think over the state support to the oil companies creating the infrastructure for associated oil gas refining. Russia has a simple and clear way for the reduction of associated oil gas burning to the level set by the Government. It’s concentration on active deposits instead of the extensive broadening of hydrocarbons production, including the Arctic shelf.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

S. Kurchenko has bought Odessa oil refinery

The Kharkov businessman, S. Kurchenko has bought the Odessa oil refinery for $125 million, that is much less than the investment needed for successful restart of the enterprise. They will need at least 5 years for cover the expenses to the project, without a ‘net administration resource’.
On July 5,the VETEK fuel and energy company belonging to S. Kurchenko reported about the closure of the transaction for purchase of 99.57% of the Odessa oil refinery. They needed 4 months for the reconciliation of the legal formalities; initially they announced about the transaction in March 2013. Within the period the young tycoon has understood what an idle oil refinery is. What is he going to do to transform his purchase into a profitable business? How do experts evaluate his plans?

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Lukoil to invest over $70 million into upgrade of Perm refinery

In 2013, Lukoil-Permnefteorgsintez plans to complete the project of reconstruction of a distillate hydrotreating unit 24-7 that will enable to increase the output of diesel fuel of the Euro-5 standard by 46 thousand tons per year from 2014.
Investments into this project are estimated at $25.5 million.
In 2014, the company intends to complete the reconstruction of a hydro-dearomatization block at the cost of $50 million. As a result, the output of diesel fuel will increase by 70 thousand tons per year.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

In June, transportation of oil and oil products by Russian Railways decreased by 1.25%

In June, transportation of oil and oil products by Russian Railways decreased by 1.25% as compared with the same period of the previous year and made up 21.973 million tons,Russian Railways reports.
In particular, in June the export fell by 7.5% and made up 8.954 million tons: 599 thousand tons to the CIS states and 8.354 million tons to the third countries, the RIA Novosti reports.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

In H1, Surgutneftegaz maintained production at a level of 30.4 million tons

In H1, Surgutneftegaz maintained production at a level of 30.438 million tons, compared to 30.435 million tons. Oil production in Yakutia increased by 13% to 3.532 million tons of oil. Gas production within the period was 6.057 billion cubic m.
Surgutneftegaz is the Russian fourth largest integrated oil company with the central office in Surgut. It’s engaged with oil and oil and gas deposits exploration, arrangement and development, and oil and gas sales.
Translated by Nadezhda Poltoratskaya

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Naftogaz has discovered another oil deposit

Naftogaz has discovered the Buditschansko-Chutovskoye oil deposit, the largest one for the latest 15 years. They have successfully drilled oil well #110 Runovtschinskaya at the Buditschansko-Chutovskoye oil deposit. Its reserves are 12.8 million tons minimum. They got daily oil debit of 106.8 cubic m.
In the end of 2011, Naftogaz got the special permission for geological exploration and trial and production development with further oil and gas extraction at the deposit. In 2012, they held the complex of geophysical research, and in Q3 2012 it began drilling on tender basis.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
42a Pushkina Street; Ufa, Bashkortostan 450076; Russia
E 54° 43.48836" N 55° 55.52346"
Telephone: +7 927 303 00 25

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer