Russia Oil and Gas

ONGC offers Rosneft to develop the Yurubcheno-Tokhomskoye field together

The Indian petroleum company ONGC has offered Rosneft a strategic partnership in the development of the Yurubcheno-Tokhomskoye gas condensate field in the Krasnoyarsk region, a source familiar with the Indian company’s proposal reported.
"This is an initiative on the creation of the partnership in the field of upstream," - he said. Another source in the industry confirmed that ONGC made this offer, and its discussion can be included in the agenda of the meeting of the Russian and Indian Energy Ministers, which is scheduled for Thursday on the margins of the World Petroleum Congress

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Gazprom plans to use LNG to supply gas to the Murmansk region

Gazprom plans to use liquefied natural gas to supply gas to the Murmansk region, the gas giant’s press centre reported by results of the today's meeting of Gazprom’s CEO, Alexei Miller and acting Governor of the Murmansk region, Marina Kovtun.
According to the report, during the meeting the sides discussed the issues of adjusting the general scheme of gas supply in the Murmansk region. In particular, the assessment of needs of the region in energy resources till 2025 is conducted; all the available sources of the gas supply are considered. "A feasibility study of possible options of network, autonomous and combined supply of gas is made, including the use of liquefied natural gas. This comprehensive work is planned to e completed in 2015," – Gazprom noted.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Novatek decides fate of its own shares, purchased during the buyback program

Novatek plans to use its shares, purchased on the market, in its option program, the company’s CEO and major shareholder, Leonid Mikhelson reported. "We consider to prolong the option program, using the company's shares in order to stimulate the management," - he said.Novatek’s representative doesn’t disclose details of the program. "It is still being considered," - he explained. In 2013, the fees for members of the Board of Directors and management of Novatek in was 1.7 billion rubles. (+18.3% as compared with 2012).
On May 27th, Novatek announced the prolongation of the buyback program for another year - until June 7th, 2015 – with the same terms of redemption. At that time the company had bought 0.46% of its own shares (14.2 million). Novatek spent approximately $150 million for the buyback, analyst of Uralsib Capital Alexei Kokin calculated. "It is logical and expected decision," - the analyst of Raiffeisenbank, Andrei Polishchuk believes. According to him, it doesn’t make sense for the company to cancel the treasury shares. "Many companies do this with the repurchased shares," - he said. "This is a usual practice in the West," - director of East European Gas Analysis, Mikhail Korchemkin agrees.

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 price should compensate expenses to exploration and production

The demand for oil and other energy sources grows at the global market being the challenge for the global oil sector, the chief of Rosneft, I. Sechin claims. Hydrocarbons extraction reduces at the traditional oil deposits that is why it’s necessary to actively develop the new deposits. As most of explored hydrocarbon reserves are hard to-extract reserves, including the shelf deposits, their price should compensate expenses into exploration and production.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Gazprom Energoholding sells Ondskaya GES

UC Rusal and Gazprom Energoholding have agreed about the sale of the Ondskaya GES in Karelia. The negotiations have lasted for 1.5 years. The Board of Directors of TGK-1 agred on June 9th the sale of the station for 2.1 billion rubles.
The Nadvoitsky aluminum plant is the majority consumer of Ondskaya GES with capacity of 80 MW. In 2007 – 2012, aluminum dropped in price by 14% to $2,000 per ton, and production at Nadvoitsky aluminum plant became unprofitable. The owner was going to close the plant but agreed to maintain production if it purchases the GES and the network. The President V. Putin approved that in spring 2013.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Novak reports when gas negotiation to be resumed

The Energy Minister Alexander Novak reported to journalists that new round of the negotiations with the Ukraine on gas would be possible only after the debt repayment for delivery of "blue fuel" by the Ukrainian side. According to A. Novak, the stance of Russia on this issue hasn’t changed: the Russian Federation waits for the payment for previous gas supplies. In the case of the debt repayment, Russia will consider issue of further consultations.

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 price won’t increase when Kyrgyzstan joins Customs Union

Oil price won’t increase when Kyrgyzstan joins Customs Union, the director of the oil traders’ association U. Kulov claims. However things change if Kyrgyzstan imports raw material for oil products processing from Russia. Belarus and the RF have own oil refineries, and the competitive area should be created in which Kyrgyz oil refineries can fail to meet the demands. Its yield is smaller as well. In this case, production can reduce and Kyrgyzstan will be unable to cover demand.  The expert M.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Russia has started 3D seismic exploration of the Black Sea shelf

MAGE, the Sea Arctic Geological Exploration Expedition Company has initiated the start of the sea 3D seismic exploration and sea gravia-metric and magnet-metric research at the Yuzhno-Chernomorsky license site. The work is held under the order of RN-Exploration Ltd at prospecting site of 2,959 sq. km. The explored site is located in 60 km from Sochi.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Novatek doesn’t plan listing on Singaporean exchange

Novatek has no plans for listing on the Singapore exchange. The company’s head, Leonid Mikhelson reported to journalists during the World Petroleum Congress.
"We do not plan listing in Singapore for a while. At the same time, Novatek considers the possibility to work on Asian debt markets," - said Mikhelson.
According to the ITAR-TASS, on June 17th, global depository receipts (GDR) of Gazprom were included in the quotation list of the Singapore Exchange. The listing of Gazprom’s depositary receipts on the Singapore Exchange is an important result of the company's efforts to expand its international investment base, Gazprom’s report noted. This step is intended to bring Gazprom close to conduct trading in the company's securities on international sites 24 hours a day.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Pervouralsk Novotrubny Plant has dispatched first batch of generation-next casing pipes

ChTPZ Group has developed the production of high-marginal generation-next casing pipes at the Pervouralsk Novotrubny Plant. The latter has developed production of the new type-size of casing pipes, 139.7*10.54 mm with Premium screw of the next generation and its own development. The first batch of 120 tons was dispatched to Gazprom Production Nadym including P 110 pipes. The order was executed within 1.5 months

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