Russia Oil and Gas

Novatek can sell 5% of Yamal LNG to Japanese and Indian consortiums

Novatek can invite two new partners to Yamal LNG and as a result not three, as it was expected previously, but four foreign participants will join the project. According to the Vedomosti’s information, 10% of the Yamal LNG’s shares can be divided between two consortiums from Japan and India.
Novatek is the main shareholder of the Yamal LNG company – the operator of the project of the same name; today the Russian gas producer has 80% and the French company Total – 20%, the Chinese company CNPC is also going to buy 20% (the deal is expected to be concluded in the near future).
According to the Vedomosti, Novatek plans to save the controlling stake and to sell 10% minus 1 share to another investor. According to the edition, the consortiums of Japanese and Indian companies pretend for this share: on the one hand - Mitsui and Mitsubishi, and on the other hand - ONGC, Indian Oil and Petronet LNG.

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Associated gas utilization will reach 95% by 2015 in Russia

Associated gas utilization will reach 95% by 2015 in Russia, the Minister of Natural Resources and Ecology S. Donskoy says. After admission of the governmental order raising penalties for associated oil gas burning in 2012, investment to upgrading doubled. In 2013, associated oil gas utilization can increase to 80% compared to 76.2%. In 2013, the Russian oil companies tripled investment to associated oil gas utilization to 50 billion rubles, compared to 18 billion rubles in 2012.
Translated by Nadezhda Poltoratskaya

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The Ministry of Finances concretizes the mode of mineral tax calculation when changing oil reserves at the state balance

The Ministry of Finances concretizes in the letter # 03-03-03-01/47119 signed on Nov 5, 2013 the mode of the use of the coefficient characterizing the volume of oil reserves at a concrete site to mineral tax when changing oil reserves at the state balance and setting them to balance within a year. The Ministry reminds that mineral tax rate is also multiplied to the coefficient characterizing the volume of reserves at a concrete site when extracting dehydrated, desalted and stabilized oil.

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Novorossiysk Commercial Sea Port increases transshipment of iron ore raw material

In the first nine months of 2013, the goods turnover of Novorossiysk Commercial Sea Port made up 106.5 million tons that is by 12.2% less than in the same period of 2012 (121.3 million tons).

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Tatneft to show good quarterly results

On Friday, November 29th, Tatneft will present financial results under IAS over the third quarter of 2013 and will hold a telephone conference, which is scheduled for Monday,  December 2nd. We consider that favorable macroeconomic and tax conditions (in particularly,an increase of oil prices, the weakening of the ruble rate and a favorable impact of lag in the calculation of export duty) together with significant increase of processing volumes (+18.7% q/q, +13.2% y/y) will compensate for the decline in production volumes (in the third quarter of 2013, the oil production fell by 1.1% q/q and by 0.5% y/y) and will promote the profit growth.

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Viktor Misnik is assigned as General Director of Gazpromneft-Vostok

The Gazpromneft-Vostok’s Board of Directors has assigned Viktor Misnik the company’s General Director, Gazpromenft reported.

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Gazprom to supply 10 shipments of LNG to Argentina

Gazprom has won the tender for supply of 10 shipments of liquefied natural gas to the Argentinean company Enarsa before 2015. All LNG shipments will be delivered to the Bahia Blanca terminal; the main LNG suppliers to this terminal are Qatargas, Eni and Vitol.

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Lukoil to increase dividends by 15%

Lukoil intends to increase dividends on results of 2013 and 2014 at least by 15% every year, even against the background of growth of the investment amount, the company’s Vice President, Andrei Gaidamaka stated.
On the results of 2012, Lukoil paid 42.53 billion rubles ($1.3 billion) of dividends.
Besides, the company’s representative, who is cited by the agency Bloomberg, reported that the total amount of Lukoil’s expenses would decrease in the next year, but the volume of investments would be higher than in 2013.

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In 2013, Russia to supply about 20 million tons of oil to Belarus

On the results of 2013, Russia will supply about 20 million tons of oil to Belarus, the Russian Vice Prime Minister, Arkady Dvorkovich reported.
“This year, the volumes are likely to be up to 20 million tons. I.e. a little more that the initial stand of Russia – 18.5 million tons, but less than orders of the Belarusian party – 23 million tons,” – he said.
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Saturn-Gas turbines to supply gas-turbine units to Gazpromneft

On November 25th of 2013, the management of Gazpromneft Novy Port announced the win of Saturn-Gas turbines in the contest for the supplier of gas-turbine units for energy provision of oil-producing facilities of the Novoport oil and gas condensate field.
The Novoport oil and gas condensate field at about 500 square km of area is located in the north polar climatic zone, in the south of Yamal, 360 km to north-east of Salekhard; it is the northernmost of oil and gas condensate fields that are developed in Yamal. The recoverable reserves of the Novoport oil and gas condensate field exceed 230 million tons of oil and 270 billion cubic meters of gas.
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