Russia Oil and Gas

Surgutneftegaz wants to decide independently where to keep its money

Surgutneftegaz has criticized the Government’s amendments, according to which strategic funds may be kept only in banks with a capital in the amount of 10 billion rubles.
Surgutneftegaz doesn’t like the directive, which reduces the number of banks where strategic enterprises can place their funds.
The oil company demands to lower sights on the bank's capital from 10 to 6.5 billion rubles and to introduce it only in 2016.

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On August 10th, the daily oil and gas condensate output was 1.4355 million tons in Russia

On August 10th, the daily oil and gas condensate output was 1.4355 million tons in Russia, the Central Dispatch Department of Fuel and Energy Sector reports.

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Variants of oil transit to Europe bypassing the Ukraine

Back in spring of 2014, Transneft together with its European partners began to study alternative options to provide them with oil bypassingthe Ukraine, press-secretary of the Russian oil pipeline monopoly Igor Demin told the RIA Novosti.
The Prime Minister of the Ukraine, Areceny Yatsenyuk stated on Friday that a bill, approved by the Government of the country, provides for the possibility to impose 26 types of sanctions against Russia, including the termination of the resources transit.
In the case of termination of the oil transit by the Ukraine, Russia will be able to meet its obligations on supply of raw materials to European consumers, Demin assured.

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The construction of the energy center (TPP PGU-135) for the "Stavrolen" gas and chemical complex continues.

The gas and chemical complex (GKhK) is being created at the LLC "Stavrolen" production site, included in the LUKOIL-Neftehim Group, in the town of Budennovsk (the Stavropol region).
Next to the new plant the modern energy center is being built now - thermal power plant based on the combined gas turbine cycle with the capacity of 135 MW. PGU-135 will fully satisfy the needs of GKhK in the electrical and thermal energy. Under the Capacity Delivery Agreement to the wholesale market (CDA), LUKOIL will send part of the energy to other customers in the region.
LLC "LUKOIL-Energoengineering" leads the construction of PGU-135. The general contractor is LLC "SYNERGETIC Projects". Two industrial gas turbines Trent-60 produced by Rolls-Royce with the capacity of 60 MW, two PC-93 HRSG (JSC "ZIO" Podolsk), steam turbine Siemens SST-400 with the capacity of 15 MW are part of the unit.

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Ministry of Energy and oil-and-gas companies are about to work out supplementary measures, aimed at strengthening of the domestic fuel-and-energy sector

The Ministry of Energy together with the oil-and-gas companies makes an assessment of risks in the sector because of introduction of sanctions against Russia by the EU and USA. It is said about in an official statement of the Ministry of Energy of Russia A.Novak. “According to the results of the analysis there will be taken extra measures to strengthen the position of the domestic fuel-and-energy sector, inclusive of import substitution,” is said in a statement.

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Sechin rates the project of Rosneft and ExxonMobil.

The project of "Rosneft" and ExxonMobil's resource base is comparable to the largest projects, such as Saudi Arabia, and far beyond the possibilities of the offshore Gulf of Mexico, Alaska and Canada, Igor Sechin the president of "Rosneft" informed RIA Novosti.
"This project will, of course, create a new perspective for the Russian Federation, and will ensure the energy security of the whole world. Comparing the resource base of this project to other projects in the world, we can confidently state that it is comparable with the largest resources, such as in Saudi Arabia and significantly exceeds the capabilities of offshore Gulf of Mexico, Alaska and Canada", - Sechin stated.
The head of "Rosneft" recalled that in late June, during the topsides of "Berkut" installation in the field on the Sakhalin shelf, it was noted that this year takes place with the active implementation of the "Rosneft" projects.

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Sanctions are obstacle to Rosneft in Italy: negotiations with Saras are suspended

Western sanctions have jeopardized Rosneft’s plans to create its own oil trading company. After the company came under U.S. sanctions, negotiations about the creation of trading joint venture were suspended by the Italian Saras, and rapid completion of the transaction for the purchase of trading subdivision of Morgan Stanley looks unlikely. According to sources of the Kommersant and analysts, if sanctions are not tightened,the implementation of Rosneft’s projects can be slowed down, but the company is unlikely to give up on it.
The creation of trading joint venture of Rosneft and the Italian refining company Saras has been postponed because of the deterioration of relations between Russia and the West, the executive director of Saras, Dario Skaffardi said on Friday. The companies agreed to establish a joint venture on trading of oil and oil products in June 2013, it was assumed that it would work this year after all approvals. At the same time, at the end of 2013, Rosneft began the negotiations on the purchase of the oil trading subdivision of the American investment bank Morgan Stanley to create its own trading company on its basis. As a result, there was a problem of coordination of the two transactions, which required more time. "In recent months, we have been negotiating with Rosneft and Morgan Stanley to find ways to achieve the integration," - said Mr. Skaffardi. "Of course, these negotiations were suspended in recent weeks because of the general political situation," - he said, added that Saras didn’t abandon the transaction and expected that "some solution will be found in the coming weeks". Rosneft declined to comment.

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South Stream will be completed in spite of the relations between the West and Russia says head of OMV.

Gerhard Roiss, the Head of the Austrian oil company OMV, believes that the confrontation of the West and Russia on the background of the situation in Ukraine will not cancel the planned construction of the "South Stream" gas pipeline, the publication in the Financial Times informs.
"The pipeline – is a project with the life cycle of 50 years, so you need to look at things realistically", - the head of OMV stated. "The customers rely on the delivery of gas. Thus, I do not see the possibility of imposing the sanctions on gas", - he added.

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Belarus will get 6 million tons of oil from Russia in Q4

Belarus will get 5.85 million tons of oil from Russia in Q4, the Minister of Energy of Russia A. Novak and the Premier of Belarus M. Myasnikovich have agreed at the session in Minsk. The sides have agreed as well that the balance for 2015 will be compiled before September 15th. Mr. Novak confirms readiness of Russia to supply 23 million tons of oil next year under the conditions of counter oil product supplies from Belarus at a rate of 3.3 million tons.

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The Russian Government has approved the law project for reduction of the administrative barriers in the subsoil use sphere

The Russian Government has approved the amendments to the Urban Development Code elaborated by the Ministry of Natural Resources and Ecology. The law project is aimed to reduction of the administrative barriers in the subsoil use sphere. The document introduces the amendments to Articles 49 and 51 of the Code. In particular, they suggest to exclude from the list of the expertise objects design documentation and the results of engineering of design documentation for well drilling.

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