Russia Oil and Gas

In 2013, RN Holding company’s net profit under IAS fell by 2.7% to 253 billion rubles

In 2013, the RN Holding company’s net profit under IAS decreased by 2.7% to 253 billion rubles, the company reports.

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Gazprom not eager to lose monopoly for pipeline gas exports

Gazprom thinks it’s necessary to keep its monopoly for pipeline gas exports. It is for the strengthening of control of the state over the projects for the construction of the LNG plants by the independent gas producers, the director of the department for coordination of the Eastern projects of Gazprom, V. Timoshilov says. At the beginning of 2014, the state agreed to the changes in the law bringing about about the liberalization of LNG exports. Pipeline gas exports remain the monopoly right of Gazprom.

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Ukraine will pursue in court Chernomorneftegaz

In connection with the refusal of Chernomorneftegaz to pay off the debt of 12 billion grivnas to Naftogaz Ukraine, the Ukrainian authorities are evaluating the sum of the loss now. In the future, the sum of the debt  will be presented as the arguments in the legal actions of the Ukraine in the international arbitration suit against Russia, the former first deputy director of Ukrgazdobycha A. Tamrazov says. In his opinion, considerable reduction in gas production by Chernomorneftegaz is important as well. Two weeks ago, Chernomorneftegaz stopped gas supplies to the underground gas storages and halved production. If the current situation continues then the former yield will be impossible to restore.

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Bashneft to supply oil worth $4 billion to Normeston Trading before 2015

Bashneft has concluded a contract on the sale of oil for export with Normeston Trading Limited; the volume of the transaction makes up $4.13 billion.
Normeston Trading Limited is a private company, registered in Belize and located in Russia; it is engaged in the trade of crude oil and oil products.
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Gazprom wants to construct LNG-plant on Yamal

Gazprom is choosing a contractor for survey of the Kara Sea’s resources.
The work includes variants of a LNG plant's construction (capacity and location); the contractor must substantiate the main technical solutions of LNG-plant construction, ports for LNG shipment and LNF transportation in ice conditions.
The scheme must include the comprehensive development of the Leningrad and Rusanov fields, 10 promising structures and take into account possibility to involve another 8 fields.
According to the Ministry of Energy, the Leningrad and Rusanov fields were discovered in 1992.
The initial reserves of each of them are 3 trillion cubic meters. LNG-plant on Yamal is planned to be constructed by Novatek together with Total and CNPC by 2017.

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Gazprom offers the Ukraine to switch over to prepayment

According to general director of Gazprom Export, Alexander Medvedev, this will establish an early warning system for the consumer countries. "We will know in advance and will be able to notify interested parties how much gas was prepaid, how much will be taken out of storages and how much will be delivered," - he said at the 14th Oil and Gas Conference of the CIS, which takes place in Paris.
At the same time Medvedev emphasized that Russia expects to have assistance of the European Union in resolving the gas issue with the Ukraine. "We notified our Ukrainian partners about our offer, but got no answer, - he added. - It is obvious that the Ukraine can’t solve the problem alone. That is why we insist that the problem must be solved by joint efforts with the assistance of the EU".

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Lukoil’s share in its joint venture with Total on work in the Bazhenov group to make up 51%

Soon,the French Total and Lukoil will sign an agreement on the creation of a joint venture for the development of the Bazhenov group, in which the Russian company will have 51%, Total’s senior vice president for Continental Europe and Central Asia, Michael Borrell reported during the Oil and Gas Summit of the CIS.
The Bazhenov group in Western Siberia contains difficult to extract oil. According to Rosnedra, its reserves make up from 10 to 30 billion tons of oil.
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Russia is the most suitable country for diversification of oil and gas supplies to Japan

The import of hydrocarbons from Russia is the most suitable way for Japan to diversify import of raw materials due to proximity of the two countries, the reliability and flexibility of the supplies, deputy head of JOGMEC, D.Harada reported during the Oil and Gas Summit of the CIS on April 23rd of 2014.
In 2013, about 6.9% of the total volume of oil, imported into Japan, was Russian oil. In 2006, this rate was 0.7%.
As for the CIS, in 2013 the Russian share in the total import volume made up 9.8% against 9% in 2011.

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Russia should take up 13 % of the global LNG market by 2025 – RF Ministry of Energy.

By 2025 Russia should create the conditions to take 10-13 % of the world LNG market against the current 4%, Cyril Molodtcov, the Deputy Energy Minister, stated on Wednesday during a visiting session of the Federation Council Committee on Economic Policy.
"The challenge connected with the development of export gas was implemented through the efforts of lawmakers last year, when they adopted  the federal law that allowed companies such as Novatek and "Rosneft" to talk about  entering the market of the export of liquefied natural gas. But the task is not completed. At the moment, we need to create conditions so that in 2025 we can take not a 4 % market share, as we have now, thanks to the Sakhalin projects, but reach a level of 10-13 %", - Molodtcov stated.

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In 2013, Lukoil Overseas reduced its production by 5% to 65 million barrels of oil equivalent

Last year, Lukoil Overseas, the operator of the foreign projects of the oil company Lukoil, produced over 65 million barrels of oil equivalent that is by 5 % less than in 2012, the Lukoil’s press release reports.
During the year, the company produced about 4 million tons of oil, about 6 billion cubic meters of commercial gas, provided about 30 % of the total gas production of Lukoil.
Last year, the company’s net profit year reached about $1 billion, decreased by 29%. The proceeds fell by 6 % to$ 3 billion and EBITDA by 26% to about $1.7 billion.

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