Surgutneftegaz, Russia Metals and Mining

ChTPZ and Surgutneftegaz sign agreement on cooperation

The ChTPZ Group (Chelyabinsk pipe rolling plant) and Surgutneftegaz have signed an agreement on strategic cooperation until 2020.
"ChTPZ and Surgutneftegaz are long-term partners. Our companies are close in spirit: we place great emphasis on the culture of production, actively develop import-substituting products and technologies, continuously work to improve the quality. The signed agreement aims to strengthen the partnership of ChTPZ and Surgutneftegaz and to make it more effective, including in scientific and technical sphere," - said general director of ChTPZ Alexander Grubman.

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Oil extraction in Russia rose by 5.3% to 43 mln tons in February

​Oil extraction in Russia rose by 5.3% to 43.064 mln tons in February 2016 against Feb 2015, the Central Dispatch Management of the Fuel and Energy sector reports.
Bashneft stayed the leader on the growth of oil extraction in February. The extraction made up 1.643 mln tons, by 11.4% more than in Feb 2015.
The extraction growth in February was also shown by Gazprom Neft – by 7.8% to 4.43 mln tons, Surgutneftegas – by 3% to 4.867 mln tons, Tatneft – by 8.4% to 2.213 mln tons.
Rosneft and Lukoil managed to increase the extraction (Rosneft by 2.9% to 15.828 mln tons, Lukoil- 0.1% to 6.673 mln tons), in January they reduced the extraction results.

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"Surgutneftegas" launches into operation the first drilling rig produced by "Uralmash".

BU 4000/250 EK-BMCH rig of "Uralmash NGO Holding" production was commissioned on the East Surgut field.
This is the first of the ten rigs manufactured by "Uralmash NGO Holding" for "Surgutneftegas".

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"Surgutneftegas" asks the authorities to carefully select the suppliers for import substitution.

The RF Ministry of Industry and RF Ministry of Energy have already checked 280 companies.
General Director of "Surgutneftegaz" Vladimir Bogdanov believes that the RF Ministry of Industry shall conduct technical audit of the factories applying for participation in the program of import substitution in the fuel and energy sector. According to him, currently there are a lot of applications from potential manufacturers, but before working with them, it is necessary to check whether they can produce high-tech equipment: "We have such a request to the RF Ministry of Industry and Trade in order to approach carefully to the selection of companies, even to spend a month on it". Thus "Surgutneftegaz" itself never focused on imported equipment, Bogdanov assured: "We have always engaged in new technologies. Together with our subcontractors - mechanical engineers, chemists, etc. - developed new equipment or materials. Over the past 15 years we achieved much".

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"Surgutneftegas" and NLMK benefit from the weak rouble.

"The revenue for the companies is in dollars, while the majority of their costs are in roubles, so the weak rouble makes the costs in dollar terms less", - the UBS analyst, Konstantin Cherepanov is happy for the raw materials and metallurgical companies. According to Bank of America Merrill Lynch estimates the revenue of the oil companies can grow by almost 5% with the 10% devaluation of the rouble. The effect of a weak rouble is more visible for the metallurgists - this year's change of course will give some of them an additional 12% rouble revenue.
Oil and Gas.
The underrun of the oil and gas industry is due to the fact that rapid devaluation only compensates for the drop in the oil prices. So raw materials of the Brent brand fell by 16.8% to $ 92.19 per barrel since the beginning of the year, the rouble over the same period depreciated against the American currency by 22.5%. In this case, since the beginning of Q3 the oil and the ruble are on a par – the currency fell within that period by 18.2%, and the oil - by 18%.

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Japan will be engaged with geological exploration in Siberia and Far East

Rosgeo negotiates with the Japanese Inpex Corporation, Japex and the National Oil and Gas Corporation about cooperation in geological exploration of hydrocarbons and solid minerals in Eastern Siberia and Far East. The sides discuss development of well drilling technologies onshore and offshore, and development of hard-extractable and non-traditional hydrocarbon resources.
Eastern Siberia and Far East are the most important regions from the point of view of development of the Russian resource base. The strategy of Rosgeo presupposes activation of the work there in near years.

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Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
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