Oil and Gas, China Metals and Mining

Russian Ambassador to China: Russia and China to diversify cooperation in energy sector

Russia and China will diversify their cooperation in the energy sector and there is reason to talk about building the so-called "energy alliance" between the two countries.

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The Deputy Prime Minister Khloponin expects to sell Sukhoi Log by year's end.

The Russian government expected to form a pool of Russian investors soon to participate in the auction for the right to develop the Sukhoi Log gold deposit in the Irkutsk region, the Deputy Prime Minister Aleksandr Khloponin responsible for the use of mineral resources told reporters. He hopes that the auction will take place before the end of this year.

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In 2015 Russia increased supply of oil to China by 17.5% to 26.7 million tons – Russian ministry of energy

Today as a special representative of the government chairman Dmitry Medvedev, the Russian minister of energy Alexander Novak had a meeting with the deputy chairman of the Chinese state committee for development and reform and head of the Chinese state energy administration Nur Bekri. The parties summed up the Russian-Chinese energy collaboration in 2015.

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The EC accuses Russian metallurgical companies of “non-cooperation”

The European Commission has adopted the mode of "non-cooperation" against Severstal and NLMK, the two main suppliers of cold-rolled steel in the EU, which allowed it to establish protective import duties at the level of 26%. The final amounts of the fees will be announced in August – if it is saved, the Russian steelmakers may lose about $300 million per year. At the same time, a new investigation in Brussels could threaten the companies - already on the hot-rolled metal.
Last Friday, the European Commission published the preliminary results of the anti-dumping investigation in respect of cold-rolled flat products from China and Russia and introduced temporary duties for Russian metallurgists. Every year, Russia exported to the EU up to 1 million tons of cold-rolled steel to the amount of about $300 million, the main suppliers are Severstal of Alexei Mordashov (250-300 thousand tons), NLMK of Vladimir Lisin (about 300 thousand tons) and MMK of Victor Rashnikov (150-200 thousand tons). During the first 11 months of 2015, the import of these products from Russia to the EU, according to the European steel lobby Eurofer, made up 850 thousand tons.

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Rules of the game for the Russian fuel and energy sector for the next 5 years are being written in Beijing.

Last week Russian fuel and energy companies were formally notified of their new strategic challenges, though perhaps still not all market participants adequately realized that fact. On Thursday Chinese authorities announced their feedback on the part of the environment - especially the emission of carbon dioxide and other grime. Li Keqiang personally called bad ecology "people's pain". And since in Beijing the position of the political leadership of the country is almost automatically put into the business plans of key companies, we can assume that now energy suppliers, including Russia, are provided with new procurement conditions until at least 2020, "the Kommersant" writes.

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Russian and world steel markets – results of last week (March 1-8, 2015)

Increase in negative trends in the Russian economy is becoming more evident. Apparently, this year the traditional spring recovery in the construction industry will be much weaker than usually, and in some regions it may not happen at all. Production of cars and other machinery equipment also decreases.
According to the forecast of the Gaidar Institute, the deepest decline in the Russian economy will be in the most favorable season - the second and third quarters. And by results of the current year, the decline in GDP will be about 6.8%. And these pessimistic assessments are founded.
Financial sanctions against Russia, obviously, won’t be mitigated in the foreseeable future. This means that domestic companies will continue to repay foreign loans, having only limited ability to obtain refinancing.
We shouldn’t also expect increase in oil prices. On the contrary, the US investment bank Goldman Sachs issued a forecast of the next decline in it. This, of course, doesn’t mean that the prices will fall for sure: Goldman Sachs is known with fairly extreme predictions and therefore often misses the mark. However, there is no opportunities for significant increase in oil prices above the current level of $60 per barrel yet. The demand for it remains limited due to the relatively low rate of economic growth in China, the European Union and Japan, and the volume of the production is reduced too slow.

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Foreign investors to be able to obtain up to 49% in strategic fields in Russia

In the conditions of a shortage of funds in Russian companies the Government can facilitate the procedure of foreign investors entering the producing projects in the Russian Federation. The Ministry of Natural Resources proposes to allow foreigners to own up to 25% in strategic fields without approval, and to obtain  ashare from 25% to 49% on the resolution of the governmental commission. The first recipient of these exemptions may apply to Chinese companies. The Deputy Prime Minister Arkady Dvorkovich even doesn’t see obstacles to give them control.

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TANAP has selected pipe suppliers

Within the project of TANAP construction, they closed the contracts with 6 Turkish and 1 Chinese companies, Caspian Barrel reports. SOCAR reports that the Turkish companies will supply 80% of the pipes.
The winners of the tender for the pipe supplies are the consortiums of Mannesmann-Noksel-Erciyas, Ümran-Emek, Tosçelik Profil ve Sac Endüstrisi and the Chinese Baosteel Europe.
TANAP needs 1.2 million tons of pipes that should be supplied within 24 months.

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Putin visits Mongolia in focus on APO region

Julia Gallyamova, the correspondent of the business department, studies the rules of the game of turning to the East .
Vladimir Putin traveled to Mongolia last week - is not the first visit of Russia's leaders into this country in recent years. But this time the talks in Ulan Bator were had a special meaning: after the imposition of the United States and the EU sanctions against Russia Moscow has begun to actively engage in particular business relations with the countries of Asia. For example, in May, during the visit of the Russian President to Beijing several important agreements were signed, including those on gas supplies to China. New arrangements could also be expected from the trip to Mongolia, though not so ambitious.

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