Russia Oil and Gas, Mineral Fertilizers
In February the Russian enterprises of the chemical industry maintained a positive dynamics of growth of manufacture of basic chemicals.
In December Russian enterprises of chemical industry retained a high level of capacity utilization, the release of basic chemicals increased by 2.2% compared with November.
Manufacture of basic chemicals in Russia grew by 3.7% within first three months of 2016. Grew up production of all basic chemical products, the exception made caustic soda and xylenes, the materials of Rosstat inform.
According to the Federal Service of State Statistics, in March 253 thousand tons of ethylene were produced versus 234 thousand tons a month earlier. In general, in January – March 2016 more than 753 thousand tons of olefin were produced, which is 5.9% more compared to the same period in 2015.
In 2015, the production of basic chemicals in Russia increased by 6.3%. The production of all basic chemical products grew, and the largest increase in the output fell on ethylene, the Russian Statistics Service reports.
Kuibyshevazot reflected in the financial statements under IFRS not only the increase revenue by more than a quarter, but the repeated increase in operating and net profit, gaining more than all the benefits derived from a weak rouble.
Since January to September 2015 the volume of production of major products in Kuibyshevazot increased significantly compared with 2014. In particular, the production of ammonia and fertilizers more than doubled, the production of caprolactam increased by 96%, polyamide - 94%, industrial yarns - 91%. However, sales volumes for some products left much to be desired. Ammonium nitrate sold in this period - 5.4% less, kaprolatim - 11% less, polyamide - 5% less than a year earlier. But sales of carbamide increased by almost 50%.
Moscow and Minsk again have a common potash project.
Two years after the breakup of "Uralkaliy" and "Belaruskaliy" the latter found a new Russian partner - Mikhail Gutseriev. He promises to invest about $ 1.7 billion in construction production of 2 million tons of fertilizers per year in Belarus. Minsk is ready to support the project, including a joint trading with "Belaruskaliy". However, additional capacities may be unclaimed on the background of the economic problems in major consuming countries.
The company filed a new lawsuit against "Fosagro".
UCC "Uralchem", the conflict of which with "Fosagro" group around deliveries of apatite concentrate has led to the stopping of "Voskresensk mineral fertilizers" in 2014, is again trying to solve the problem in the courts. UCC has already agreed on the conditions which it refused before, but now "Fosagro" is not going to cooperate. As a result, plant again is on the verge of stopping, and lawyers believe attempts of "Uralchem" to solve the problem through the court are futile.
On July 7th "Voskresensk Mineral Fertilizers" (VMF) under control of "Uralchem" filed a suit in the Moscow Arbitration Court to "Apatit" and its main company "Fosagro", demanding it to sign a contract to supply about 450 thousand tons of apatite concentrate in 2016. VMF sent the corresponding offer in May, but "Fosagro" has not approved it. The structure of "Uralchem" proposes to set the price based on a formula agreed upon by the FAS in 2012. The first option - 70% of the concentrate on the basis of FOB North Africa plus 30% of the average prices for domestic consumers in the previous year adjusted to the index of industrial inflation. The second - 35% of the minimum export price, plus 35% of the price on FOB North Africa, plus 30% of the average domestic price. These formulas are valid until the end of 2016, after which the price should be calculated at the minimum export net of logistics costs and customs duties.
In H1 the financial results of the company rose sharply.
In H1 the net profit of "Fosagro" more than tripled to 27.7 billion roubles,revenues and EBITDA sharply increased. The company attributed this growth not only to the weakening of the rouble, but also to the growth of its operating performance, including the increased production of phosphorus products by 12%.
In H1 the net profit of "Fosagro" increased by 3.4 times to 27.7 billion roubles, according to the report under IFRS. The revenue increased by 65% to 93.7 billion roubles, the EBITDA – by 156% to 41.5 billion roubles. The company stated revenue growth was due to favourable market conditions and a significant weakening of the rouble.
Rosneft and EuroChem agree on cooperation in monetization of hydrocarbons of north-eastern part of the East-Urengoy site of RospanEdited by Rhod Mackenzie / 2015-06-22 02:48:31
During the St. Petersburg International Economic Forum Rosneft and EuroChem have signed a Memorandum of Understanding on cooperation in the project of monetization of hydrocarbons of the north-eastern part of the East-Urengoy licenses area of Rospan International. The document was signed by chairman of the Rosneft’s Board Igor Sechin and general director of EuroChem Dmitry Strezhnev.
Before the end of 2017, Gazprom Mezhregiongaz Perm LLC will supply to Uralchem OHC JSC gas for 16.712 billion rubles. The decision was admitted by the Board of Directors of Uralchem on January 27 2014. The sum of transaction is 28.4% of the cost of Uralchem assets by September 30 2013, i.e. 58.852 billion rubles.
Uralchem Group includes 4 plants for fertilizer production, 2 in the Perm region and by 1 plant in the Kirov region and the Moscow region. Uralchem holds 20% in Uralkaliy JSC, and 9.3% in Tolliattiazot. The holding is controlled by D. Mazepin.