Russia Oil and Gas

The industrial development of Yurubcheno - Tokhomsk field begins in the Krasnoyarsk region.

Yurubcheno- Tokhomskoye field (YUTM) - the second largest major project of "Rosneft" in Eastern Siberia after Vanqor.
To date, the current recoverable reserves of ABC1 + C2 oil within Yurubchensk reservoir are 174 million tons. About 215 billion roubles are planned to be invested into their development.
"Rosneft"’s "daughter" – "East Siberian Oil and Gas Company" (Krasnoyarsk) is developing the field.

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The uninterrupted transit of Russian gas to Europe is estimated at $3.6-$4.6 billion .

Guenther Oettinger, the EU Energy Commissioner, discussed, "the security of Russian gas supplies to Europe" in the context of the increase in gas prices for Ukraine with Alexey Miller, the head of "Gazprom" in Brussels, the press service of the European Commissioner told Itar - Tass.
"The purpose of the meeting was to discuss current issues related to energy and security of the supply. Oettinger took the opportunity to stress the importance of safe and reliable supplies of gas from Russia, as well as to declare that the EU expects Russia to fulfill its obligations in this respect", - the agency interlocutrix stated.
According to her, Alexander Medvedev, the head of "Gazprom export", also took part in the negotiations.

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Europe disputes prices of Russian gas

Gazprom’s prices of supplied fuel are not understood in Europe. The rise in the price of Russian gas for the Ukraine by $100 to $385.5 per 1 thousand cubic meters became the last event. The gas monopoly carried out its threat and cancelled discount for the neighboring state, which is in a difficult political situation. The “December” gas discount can’t be used any more.
It was predetermined and follows from default on the Ukrainian party’s obligations to repay the debt for gas supplies in 2013 and the lack of 100% payment of the current supplies, and thus, an increase of the debt for gas supplies,"- Miller said.

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In Q1, SOCAR reduced export of oil via Baku-Novorossiysk pipeline by 38.2%

In January-March of the current year, SOCAR exported 254.33 thousand tons of crude oil via the Baku-Novorossiysk pipeline that is by 38.2% less than in the same period of 2013, the company reports.

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Oil dispatch via CPC sea terminal increased by 22.8% to 9.4 million tons in Q1

Oil dispatch via the CPC sea terminal in the port of Novorossiysk increased by 22.8% to 9.448805 million tons in Q1, and exports increased by 22.5% to 3.293334 million tons.

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Gazpromneft and Novatek agreed about owning of SeverEnergy on a parity basis

Gazprom and Novatek agreed about owning of SeverEnergy Ltd on a parity basis. As a result of the transactions with Novatek, the effective shareholding of Gazprom in the joint venture will increase by 9.8% to 50%.

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R.Minnikhanov promises V.Putin to increase depth of oil processing at Taneko to 98%

Hydrocracking unit at the Taneko refinery has received statement of conformity to technical regulations; the depth of the oil processing will increase to 98%, President of Tatarstan R.Minnikhanov told the Russian President V.Putin during their working meeting that took place on April, 1.

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American bank refuses to finance Yamal LNG project

Export-Import Bank of the United States has refused to consider financing of the Yamal LNG project on export of natural gas, when administration of the U.S. President initiated introduction of sanctions against persons, including billionaires, who have shares in the project, the Bloomberg transmit, referred to the bank’s press centre.

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This year Russian oil companies will reduce associated oil gas burning

This year Russian oil companies will reduce associated oil gas burning by 29% to 11.2 billion cubic m, they claim in the presentation ‘The survey on the extraction and beneficial use of associated oil gas in Russia’. In 2012, Russia increased associated oil gas utilization to 80% in comparison with 76.2% in 2012, due to considerable enlargement in payments for associated oil gas initiated by the Ministry of Natural Resources. They awaited that in 2014, associated oil gas will reduce to 5%. The Russian companies burnt 15.8 billion cubic m of associated oil gas, and its production will reduce by 3.9% to 71.5 billion cubic m. The leaders in associated oil gas burning were Surgutneftegaz with 99.3% and Tatneft with 93.6%. The other utilized much less: Lukoil with 87.8%, Gazprom Neft with 79.5%, Russneft with 77.1%, Slavneft with 76.6%, Bashneft with 72.7% and Rosneft with 63.6%.

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Heads of Naftogaz and Gazprom to hold meeting this week

The heads of Naftogaz Ukrainy, Andrei Kobolev and Gazprom’s CEO, Alexei Miller will hold a meeting in Moscow this week, head of the Ukrainian gas holding company reported.

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