Russia Oil and Gas

Daily production of oil and gas condensate made up 1 million 448.0 thousand tons on November 21, 2013

Oil and gas condensate production a day in Russia made up 1 million 448.0 thousand tons on November 21, 2013. The Federal state unitary enterprise “Central Dispatch Department of the Fuel and Energy Sector” states. Oil and gas condensate production at 8 leading companies, November 21, 2013:

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Deliveries of Baku oil via Russia to stop in 2014

In 2014 oil from Baku won’t be delivered via Russia: Transneft announced the conservation of the pipe on the border with Azerbaijan where about 1.5 million tons will pass in 2013. The negotiations about the prolongation of transit failed. Azerbaijan exports oil via Baku-Tbilisi-Ceyhan where the tariffs are much lower. Transneft lost 1-2 billion RUR of potential income, as Rosneft is not going to fill the pipe, discussing reverse pumping of raw materials from Russia with Baku.
Transneft starts temporary shutdown of Shirvanovka-Makhachkala oil line on the border with Azerbaijan, the advisor to the company’s President Igor Dyomin reported yesterday. He specified, the decision was conditioned by the fact that in February 2014 the contract for pumping of Azerbaijani oil via Baku-Novorossiysk expires and the new document wasn't signed.

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LetterOne of Mikhail Fridman and German Khan is interested in assets of RWE

LetterOne of Mikhail Fridman and German Khan, which was created in the summer to invest money from sale of shares in BP-TNK into oil and gas projects, is interested in purchase of RWE’s oil and gas assets – the company Dea, which value can be up to $7 billion. LeterOne has been interested in oil and gas assets, in which Alfa-group’s shareholders were going to invest $10 billion after sale of their share in BP-TNK, for several months. But the investment company hasn’t yet bought any assets as yet in Russia or abroad.
The investment company LetterOne, a part of Alfa-group, is interested in the oil and gas subdivision of German RWE Dea, the news agencies reported yesterday and a source, who is close to it, confirmed to  Kommersant. According to him, “Everything is at the interest stage, there have not bee any concrete negotiations, this isn’t considered as a deal currently,” – Kommersant’s source says. LetterOne and RWE don’t comment on this information.

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Novotrudovoy site in the Orenburg region, put up for auction, is preliminary estimated at 79 million rubles

The Subsurface Management Department in the Orenburg region (Orenburgnedra) announced open auction for the Novotrudovoy site. The auction is held for geological survey, exploration and production of hydrocarbons.
The Novotrudovoy site is located in the Pervomaisk district of the Orenburg region, 20 km to the south-west from the Pervomaysky village. The area of the site is 188.8 square km. As of January the 1st of 2012, its prognostic reserves of the C3 category (recoverable) at the West-Talovaya, Trudovaya and Novotrudovaya structures made up: 8.098 million tons of oil, 14.603 billion cubic meters of natural gas and 2.549 million tons of gas condensate.

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Transneft starts to close down the Shirvanovka-Makhachkala oil pipeline

Azerbaijan hasn’t kept up official negotiations with the company on tariffs for oil pumping through the Baku-Novorossiysk pipeline.
According to the official representative of the oil-transport company I.Demin, Transneft starts to close down the Shirvanovka-Makhachkala oil pipeline at the border with Azerbaijan.
In February of 2014, agreement on pumping of Azerbaijani oil through the Baku-Novorossiysk pipeline will end.
“Since the contract ends in February and we don’t have the new one, we start to close down the Shirvanovka-Makhachkala oil pipeline at the border of Russia and Azerbaijan,” – he said.
I.Demin noted that the Azerbaijani party confined itself to unofficial negotiations with the company.
“We reported them calculations of oil transportation tariffs depending on volumes of the pumping. But we haven’t received any proposals from the Azerbaijan party,” – i.Demin told.
In case of the pumping volume of 1.8 million tons per year that tariff could be 700 rubles per 1 ton, in case of 5 million tons – less than 400 rubles per 1 ton.

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The decision about transition of some oil production projects to taxation of additional income from oil production

The Russian profile ministries and agencies discuss the possible mechanism for the transition of some oil production projects to taxation of additional income from oil production (NDD). The decision can be agreed in 2014, 2 officials close to the discussion claim.
A source in the Ministry of Finances says that the measure is unlikely to be applied to the whole oil sector that’s why they work with the companies in order to present it for the separate projects. The use of NDD will be fixed in the Tax Code, and the projects classifier will be introduced to the Code for that.
A source in the Ministry of Energy confirms to the agency that this variant is discussed. The Ministries are going to present their coordinated position to the Government in December.

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The amendments to the law for LNG liberalization initiated by Lukoil and Rosneft have not been agreed

On November 20th 2013, the State Duma Energy Committee rejected the amendments to the law  for LNG exports liberalization initiated by Lukoil and Rosneft, the representative of the Committee I. Grachyov says. He claims that they introduced just 3 stylistic amendments.
The law  will be presented in this form to the second hearing on November 22nd 2013, and can immediately pass through to the third.
Under the law , access to LNG exports can be granted to Rosneft and Yamal LNG project realized in accompany with Novatek, besides from Gazprom. The Ministry of Energy evaluates that the corresponding structure of the sole export channel in the part of LNG exports gives no opportunity to fully provide designated financing of the construction of LNG plants.

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In 2013-2015, investments into Vankor to be about 92.1 billion rubles

In 2013-2015, investments into development of the Vankor group of  fields will make up about 92.1 billion rubles. The synergistic effect from development of these fields will be about $2 billion, Rosneft reports.
On November 8th, the Rosneft’s Board of Directors approved Vankorneft as the operator on the development of the Lodochnoye, Suzunskoye and Tagulskoye fields, as well as on the construction of a gas turbine electric power plant (150 MW) to provide them with electricity.
After the acquisition of BP-TNK’s assets, which include these deposits, by Rosneft, it was decided to work out the projects of their joint development by Vankorneft to reach a maximum synergy. The integration of the fields will increase the Rosneft’s resource base in the region by over 350 million tons of oil.

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On November 20, the daily oil and gas condensate output was 1.4471 million tons in Russia

On November 20, the daily oil and gas condensate output was 1.4471 million tons in Russia, the Central Dispatch Department of the Fuel and Energy Sector reports. Production was 561,600 tons in Rosneft, 237,300 tons in Lukoil, 168,700 tons in Surgutneftegaz, 136,600 tons in Gazprom Neft, 72,200 tons in Tatneft, 45,500 tons in Bashneft, 55,500 tons in Gazprom and 24,000 tons in Russneft.
Translated by Nadezhda Poltoratskaya
Source:  http://www.angi.ru/news.shtml?oid=2806921

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In January – September, Alliance Oil halved its net profit by ISA

In January – September, Alliance Oil halved net profit by ISA to $145.8 million. It also reduced revenue by 10% to $2.79 billion, EBITDA by 12% to $499.1 million, and pretax profit by 43% to $214.1 million.
In Q3, it gained net profit of $61.7 million compared to $132 million in Q3 2012, revenue of $1.01 billion (+12%), and EBITDA of $175.1 million (+18%).
In October, it extracted 66,200 barrels in oil equivalent a day, including 5,800 barrels in oil equivalent a day gained in the joint venture with Repsol. The company awaits doubling in oil production in 2013.

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