Russia Oil and Gas

In January, Russia increased oil production by 2%

In January, Russia increased oil production by 2.1% versus January 2013 to 44.8 million tons, Interfax Ukraine reports referring to the Russian Statistic Agency. Gas production increased by 1.2% to 65.9 billion cubic m. Primary oil refining was 24.6 million tons, by 4.4% more than a year ago. Within the period, Russia produced 3.4 million tons of petrol (99% of Jan 2013), and 6.5 million tons of diesel fuel (104.2%). Fuel oil output was 7.1 million tons (105.6%).
 
Oil and gas industry yield in Jan 2014 in Russia

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In 2013, Orsk refinery increased oil processing by 0.8% to 5.9 million tons

In 2013, Orsknefteorgsintex, the oldest enterprise in the Russian oil-processing industry, increased the oil processing by 0.8% as compared with 2012 to 5.863 million tons, the plant reports.
Last year, the output of light products grew by 1.6% to 2.98 million tons. As of end of 2013, the processing depth made up 61.7%. The output of automobile gasoline of the Premium-95 grade increased by 9.6% to 75.5 thousand tons, of the Regular-92 grade by 13.8%

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In 2014, Gazprom’s investments are expected to decrease by 12%

Bloomberg predicts that in 2014 investments of the gas holding company and its subsidiaries will fall by 12.3% from 1.38 to 1.21 trillion rubles.
Only Gazpromneft’s investments are planned to be increased: the company will invest 190.2 billion rubles into exploration and production against 147 billion, invested in the previous year. The company intends to spend these funds for geological exploration and development of the Prirazlom and Novoport fields, the Messoyakhskaya group, projects in Kurdistan and the Badra project in Iraq.

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Bashneft paid to top managers 1.12 billion rubles

Last year Bashneft paid to the members of the Management Board 1.125 billion rubles, by 50% more than in 2012. The Board consists of 14 members including the President of the company A .Korsik and 13 Vice Presidents. Until February, he participated in the Board the Vice President for IT I. Kalyuzhny.
Total payments to the members of the Board of Directors that include 11 members exceeded 33.95 million rubles in 2013, by 2.5 times more than a year ago. The members are the First Vice President of System AFK F. Evtushenkov, the member of the Board of Directors  of AFK Sistema ,A. Goncharuk, the President of Bashneft A .Korsik, the former Executive Vice President of Shell in Russia

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As of February the 17th of 2014, the volume of daily production of natural gas in the Russian Federation made up 2 47.1 million cubic meters

As of February the 17th of 2014, the volume of daily production of natural gas in the Russian Federation made up 2 47.1 million cubic meters

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In January, oil and oil products transportation via Russian Railways decreased by 1.91%

In January of 2014, oil and oil products transportation via Russian Railways decreased by 1.91% as compared with the same period of the previous year and made up 24.136 million tons, Russian Railways report.

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SOCAR has redirected oil exports from Baku-Novorossiysk to BTC

Since February 15th, SOCAR began oil supplies to Baku-Tbilisi-Ceyhan (BTC) instead of Baku-Novorossiysk as it was before. The contract on gas transit via Baku-Novorossiysk closed between Russia and Azerbaijan in 1996 expired on February 14th. The contract was ceased under the initiative of the Russian side.
Last year Transneft reported that within the latest 5 years Azerbaijan failed to accomplish the contract terms having transported by 2 times less than is built to the document. The contract presupposed annual transporting of 5 million tons of oil and the actual volume did not exceed 2 million tons. The income from transit did not cover expenses of the Russian company to maintenance of the pipeline system.

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In 2013 the share of "Gazprom" in the European market rose to 29.9%.

In 2013 the "Gazprom" share in the European market increased to 29.9% from 26% in 2012, according to a presentation on Eurobonds by the Russian gas holding.
According to the materials of the holding, gas consumption in the European market in 2013 amounted to 541 billion cubic meters (1% decrease), the "Gazprom" supply increased by 16.3 % - up to 161.5 billion cubic meters. Europe 's gas imports fell by 0.6 % - up to 253 billion cubic meters, and own gas production - by 1.4 % to 288.1 billion cubic meters.

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Lukoil: In 2015, certain projects in oil production may switch to additional income taxation

Switch to additional income taxation in certain pilot projects in oil production may be conducted in 2015 already, Lukoil’s head Vagit Alekperov reported to journalists.
“The decision hasn’t been made yet,” – Alekperov said. He recalled that two fields, belonged to Lukoil and Surgutneftegaz, were proposed. “I hope, we will complete (drawing up of documents) this year,” – he added.

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Gas equal netback pricing can be achieved by 2025-2027 – RF Ministry of Energy.

Gas equal netback pricing for deliveries to the domestic and international markets can be reached by 2025-2027, stated Alexei Teksler, Deputy Energy Minister.
"Equal netback pricing can be achieved by 2025-2027," - stated Teksler at a press conference after a public discussion of the draft energy strategy of Russia through 2035. Initially, the Russian government planned to go to gas equal netback domestic pricing from export in 2011, but due to the global economic crisis, these plans were shelved. January 1st, 2015 was announced as the new term, which was recorded, in particular, in the agreements on the Common Economic Space (CES), RIA "Novosti" informs.

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