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    Russian Oil and Gas Industry: News

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    dino00

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    Re: Russian Oil and Gas Industry: News

    Post  dino00 on Sat Sep 29, 2018 12:06 pm

    Russia’s September Oil Production Set For Post-Soviet Record High

    Russia’s oil production averaged 11.347 million bpd between September 1 and 27, up by more than 130,000 bpd compared to August and on course to set a new record-high in the post-Soviet era, Reuters reported on Friday, citing a source in the energy sector.

    https://oilprice.com/Latest-Energy-News/World-News/Russias-September-Oil-Production-Set-For-Post-Soviet-Record-High.html
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    miketheterrible

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    Re: Russian Oil and Gas Industry: News

    Post  miketheterrible on Fri Oct 05, 2018 6:06 pm

    Russian oil companies to be obliged to refine oil
    https://vestnikkavkaza.net/news/Russian-oil-companies-to-be-obliged-to-refine-oil.html
    Russia's energy, finance and economic development ministries will oblige Russian oil companies to send at least 17.5% of their annual production to domestic oil refineries, according to the instruction given by Russian Prime Minister Dmitry Medvedev following the governmental meeting.

    The document was published on the Russian government's website. The amendments providing for obligations to send oil to refineries capable of producing motor fuel must be prepared before October 10, RBC noted.

    The Kommersant reported in August, citing its three source in the industry, that the proposal came from Rosneft, which owns 13 major oil refineries.

    A leading analyst of the National Energy Security Fund, a lecturer at the Financial University under the Government of the Russian Federation, Igor Yushkov, speaking to Vestnik Kavkaza, noted that quotas for oil refining is a logical consequence of the tax maneuver, which transfers the burden from the oil industry workers to the wells. "Previously, oil companies paid an oil and gas production tax and duty on oil exports, which provided cheaper oil for the domestic market. Now the situation will be different: export taxes are abolished, an oil and gas production tax increases, so supplying domestic markets is not as profitable as the export of raw materials. In order to protect the needs of the domestic market, they are developing such mechanisms," he explained.

    "By the way, the question arises why there was a need to invent a tax maneuver in the oil industry at all, if the state then donates the money received in the form of a reverse excise tax to oilmen and forces them to supply oil to refineries and process them," Igor Yushkov said.

    Deputy director of energy policy of the Institute of Energy and Finances, Alexey Belogoriev, agreed with Yushkov. "This is a security measure in the framework of the new tax maneuver in order to avoid a shortage of motor fuel in the domestic market, after the companies start exporting more oil due to a decline in export duties. In general, such measures are not quite market in nature,due to the fact that the role of state regulation in the industry is increasing," he said.

    "If we talk about large companies, then no costs emerge here for them, since they supply more than 16% of produced oil to the domestic market. It will be difficult to predict how it will be implemented by companies which do not have their own refining. Not all small and medium-sized companies can provide such a level of refining, although the majority in this sector supply a much larger share of oil to the domestic market,” Aleksey Belogoryev added.
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    George1

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    Re: Russian Oil and Gas Industry: News

    Post  George1 on Mon Oct 29, 2018 1:17 am

    Gazprom constructed 95.5% of Power of Siberia pipeline

    Over 2,000 km of pipes were welded and laid

    MOSCOW, October 26. /TASS/. Gazprom built 95.5% of the Power of Siberia gas pipeline, including welding and laying of 2,064 km of pipes from Yakutia to the border with China, the company said in its press release on Friday.

    "2,064 km of pipes were welded and laid on the segment of the Power of Siberia gas pipeline from Yakutia to the Russia-China border, which totals 95.5% of its length. Construction readiness of the two-line underwater crossing of the Power of Siberia over the Amur River is 90%. Pipe pulling in both tunnels was completed. Construction of Atamanskaya border compressor station continues," Gazprom says.


    More:
    http://tass.com/economy/1028089
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    George1

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    Re: Russian Oil and Gas Industry: News

    Post  George1 on Tue Nov 13, 2018 1:24 pm

    Lukoil to discuss early oil production start at Block 10 with Iraq

    CEO Vagit Alekperov said protests in Iraq have not affected the company's operations in the country

    ABU DHABI, November 12. /TASS/. Lukoil plans to discuss the start of early oil production on Block 10 where the next exploration well is drilled with the government of Iraq, Chief Executive Officer of the Russian oil producer Vagit Alekperov said on Monday.

    "I hope to meet the newly elected Prime Minister in November. Following completion of drilling this well, we expect to raise an issue of starting early oil production, to put the Block 10 into service. Up to 50 thousand barrels [per day] provisionally," Alekperov said. No endorsement has been available from the Iraqi side so far and negotiations have not yet started, he said. If the government of Iraq agrees upon early oil production in the project, then the company will need 2-3 years to start production," he added.

    Protests in Iraq have not affected operations of the company in the country, Alekperov said. "We continue the investment cycle. We are to reach the production level of 480 thousand barrels per day by 2020 and 800 [thousand] by 2024. We have no doubts we will reach this level," the top manager said.


    More:
    http://tass.com/economy/1030408
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    dino00

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    Re: Russian Oil and Gas Industry: News

    Post  dino00 on Tue Nov 13, 2018 1:48 pm

    Russia Hit New Post-Soviet Record For Oil Production In October - OPEC Report

    Russia hit a new post-Soviet record for oil production in October, producing on the average 11.6 million barrels per day, the Organization of the Petroleum Exporting Countries (OPEC) said in its Monthly Oil Market Report released Tuesday.

    MOSCOW (UrduPoint News / Sputnik - 13th November, 2018) Russia hit a new post-Soviet record for oil production in October, producing on the average 11.6 million barrels per day, the Organization of the Petroleum Exporting Countries (OPEC) said in its Monthly Oil Market Report released Tuesday.

    "Russia has hit a new post-Soviet record for oil production in October, an increase of 0.

    05 mb/d from the previous month to average 11.60 mb/d, according to preliminary estimates," it said.

    OPEC also said oil production in Russia would grow to an average 11.24 million barrels per day in 2018-2019.

    "Oil production in Russia and Kazakhstan is estimated to grow by 0.07 mb/d and 0.09 mb/d to average 11.24 mb/d and 1.82 mb/d, respectively. For 2019... Russia's oil supply is likely to remain unchanged y-o-y at 11.24 mb/d," OPEC said.

    https://www.urdupoint.com/en/business/russia-hit-new-post-soviet-record-for-oil-pro-479730.html

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    dino00

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    Re: Russian Oil and Gas Industry: News

    Post  dino00 on Thu Nov 15, 2018 8:34 pm

    Three Tankers With Russian LNG Recently Sent To US - Russian Foreign MinistryVery Happy Very Happy cheers


    Russia has already sent three tankers with its liquefied natural gas (LNG) to the United States despite Washington's outspoken opposition toward Moscow, spokeswoman for the Russian Foreign Ministry Maria Zakharova said Thursday.
    "Speaking of logic, do not forget that it should be present. With all this visible public negativity from Washington [toward Russia], oddly enough, Russian liquefied natural gas is being successfully sent in that direction. Recently, at least three tankers, which were filled with liquefied natural gas from the Yamal LNG field, have reached the American shores," Zakharova told a briefing.


    https://www.urdupoint.com/en/business/three-tankers-with-russian-lng-recently-sent-481914.html

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    dino00

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    Re: Russian Oil and Gas Industry: News

    Post  dino00 on Sat Dec 08, 2018 11:41 pm

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    Nibiru

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    Re: Russian Oil and Gas Industry: News

    Post  Nibiru on Thu Dec 13, 2018 4:15 am


    European Parliament calls for the Nord Stream 2 construction to be cancelled

    http://tass.com/economy/1035741
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    miketheterrible

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    Re: Russian Oil and Gas Industry: News

    Post  miketheterrible on Thu Dec 13, 2018 5:33 am

    Yes, and European parliment blames Russia for Kerch incident too and demanding to prolong sanctions against Russia cause they feel Russia abused their veto power at UNSC thus making the world more dangerous. Plus they say Russia isn't adhering to Misnk agreement (Russia isn't even a signiteur of it). To add to the stupidity, they made it clear any hostilities in Ukraine is Russia's fault apparently.

    It's time for Russia to bite back. Hell, the ECHR still rules over Russian law.
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    PapaDragon

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    Re: Russian Oil and Gas Industry: News

    Post  PapaDragon on Thu Dec 13, 2018 5:39 am

    Nibiru wrote:

    European Parliament calls for the Nord Stream 2 construction to be cancelled

    http://tass.com/economy/1035741

    Call me when German Parliament (one that's really in charge of making decisions in Europe) calls for this

    In the meantime, stop using red font unless it's something actually important
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    GarryB

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    Re: Russian Oil and Gas Industry: News

    Post  GarryB on Fri Dec 14, 2018 1:38 am

    I remember reading about one of these european organisations... PACE or something where Russia has no voting rights, and has had no vote for the election of quite a few judges that have been elected to the hague courts and Russia was withholding funds... why pay when you don't have any voting rights... what I want to know is when will they just withdraw from these silly European organisations that are clearly just political cliks.
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    PapaDragon

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    Re: Russian Oil and Gas Industry: News

    Post  PapaDragon on Sun Dec 16, 2018 5:09 pm


    Under New Management — Russia Now Runs OPEC

    https://www.bloomberg.com/opinion/articles/2018-12-16/opec-needed-russia-to-get-oil-output-deal-so-russia-s-in-charge

    The oil producer’s group has been seriously weakened by its need to bring an outsider into its heart to broker a deal on output.

    If anyone doubted that OPEC is now little more than a zombie organization, the last 10 days have proved it.

    The group has shown itself incapable of making it own decisions. Its smaller members have borne the brunt of an agreement to cut output that was only achieved after Russia took control of discussions from the heart of OPEC’s head office. Then, even after Saudi Arabia announced it would reduce supply by nearly a million barrels a day by January, oil traders merely shrugged.

    It is a sad result for an organization that once made governments tremble. Here’s how it unfolded.

    OPEC oil ministers gathered in the group’s secretariat building on a wintry Thursday in Vienna. Weakening demand growth and soaring U.S. production prompted agreement that they needed to reduce production in order to balance the market in 2019. What they didn’t see eye to eye on was how to share that burden.

    Saudi Oil Soars

    Saudi Arabia insisted that all members should play an equal part, cutting by the same percentage from a new baseline set at October’s production level. Naysayers argued that, given how the group’s biggest producer had boosted its own output by more than a million barrels a day since May, it should therefore bear the brunt of the cuts needed to get the market back into balance. Furthermore, Iran led a contingent of countries claiming their special circumstances warranted exemptions.

    The stand-off looked very similar to the one that had scuppered a deal in Doha in April 2016 – something that nobody wanted to repeat. But by the end of that Thursday, Dec. 6, officials had failed to reach an agreement and Saudi oil minister Khalid Al-Falih said he was “not confident” one was possible. The gala dinner at the Liechtenstein Palace was sparsely attended, with both the Saudi and Iranian delegations, among others, skipping the event.

    Friday, the day originally scheduled for the group to meet with its partners, began little better. OPEC ministers were once again locked away in discussions. The talks went nowhere, and the OPEC+ meeting got pushed back to the afternoon.

    Then the Russians arrived.

    Bilateral discussions to hammer out negotiating positions are a regular feature of the days and hours before the main OPEC gatherings. They take place in the suites of Vienna’s grandest hotels, where the various delegations are holed up. In recent years, the Russians have been part of this scene.

    But when Russian Energy Minister Alexander Novak arrived Friday morning, he moved in to the office of OPEC’s Secretary General. If ever there was a symbol of OPEC’s demise, it was this. He then summoned first Iran’s oil minister, then Saudi Arabia’s, for about 45 minutes each. Two hours later, the group reached a deal. And Iran, Libya and Venezuela got their exemptions, even if they didn’t appear in the final communiqué.

    The agreement that emerged is, on paper, fair and reasonable. OPEC will cut production by 800,000 barrels a day from a new baseline of October 2018 production, with participating members cutting by 3 percent. The group’s partners will reduce their supply by 2 percent, contributing a further 400,000 barrels a day. That combined reduction is just about enough to balance supply and demand in the first half of next year.

    Saudi Arabia went even further. Al-Falih said the kingdom’s production would fall to 10.2 million barrels a day in January, down from 11.1 million last month.

    That looks like a huge cut, but it is still 150,000 barrels a day above its target under the original deal.

    And this is where the inequality of the new OPEC+ deal becomes apparent. Saudi Arabia, Russia, the United Arab Emirates and Iraq boosted their combined output by almost 1.6 million barrels a day between May and October. That not only contributes to the current glut, it also gives them much higher starting points for the latest cuts than for the previous ones. Other OPEC members all face lower starting points.

    Unfair Shares

    The effect has been to shift a disproportionate share of the burden of OPEC’s supply management since 2016 onto the group’s smaller producers.

    Handing control of OPEC decision making to the Kremlin has come at a high cost for the group, and most particularly for its smaller members. Some of the latter were already feeling marginalized. This latest deal will do nothing to change their view and the divisions between the organization’s “haves” and “have nots” will only widen.

    Russia has done very well out of this. It agreed to cut output by 230,000 barrels a day from its October output level of 11.42 million. That would reduce its production to 11.19 million barrels a day, a figure that is just 15,000 barrels below its original 2016 baseline — a cut of just 0.1 percent.

    Contrast that with OPEC member Algeria, which produces around a tenth as much oil as Russia. Its new target will be 1.023 million barrels a day. That’s a cut of 66,000 barrels a day, or 6.1 percent below the 2016 baseline.

    And what did this all achieve?

    Oil markets have reacted with indifference. After a brief rally when the deal was revealed, Brent subsequently sank back below the level it was trading at before the meeting began. Perhaps traders don’t believe the group will be able to implement the arrangement, or are waiting to see evidence that it’s taken effect.

    OPEC has lost a lot for very little gain.
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    JohninMK

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    Re: Russian Oil and Gas Industry: News

    Post  JohninMK on Mon Dec 17, 2018 2:27 pm



    Sumaira FH 3 minutes ago Mon 17th December 2018 | 05:57 PM

    Bulgaria Hopes to Promptly Resolve All Possible Obstacles to Joining TurkStream

    Bulgaria hopes to settle all possible problems that may arise during talks devoted to the country's potential role as a transit state for gas flowing from Russia through the TurkStream pipeline as soon as possible, Vice-President of the National Assembly Emil Hristov said Monday.
    MOSCOW (UrduPoint News / Sputnik - 17th December, 2018) Bulgaria hopes to settle all possible problems that may arise during talks devoted to the country's potential role as a transit state for gas flowing from Russia through the TurkStream pipeline as soon as possible, Vice-President of the National Assembly Emil Hristov said Monday.

    "Before leaving, we spoke to Bulgarian Energy Minister [Temenuzhka Petkova]. We were told that a provider tender was about to be declared, which [sounds] positive to me. We hope to resolve all possible issues in the coming months," Hristov said after a meeting with Konstantin Kosachev, the chairman of the Russian upper house Foreign Affairs Committee.

    The TurkStream pipeline project envisages the construction of a gas pipeline comprising two legs, each with the capacity to deliver 15.7 billion cubic meters (554 billion cubic feet) of gas per year. The first leg is set to bring gas across the Black Sea directly to Turkey, while the other one will run across Turkey to its western border, transporting natural gas to countries in the south and southeast of Europe.

    Russia's energy giant Gazprom, responsible for the pipeline's construction, has been considering options for extending the second leg of the pipeline through Bulgaria and Serbia or through Greece and Italy.


    https://www.urdupoint.com/en/world/bulgaria-hopes-to-promptly-resolve-all-possib-508431.html
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    magnumcromagnon

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    Re: Russian Oil and Gas Industry: News

    Post  magnumcromagnon on Mon Dec 17, 2018 2:34 pm

    JohninMK wrote:
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    Bulgaria Hopes To Promptly Resolve All Possible Obstacles To Joining TurkStream

    Sumaira FH 3 minutes ago Mon 17th December 2018 | 05:57 PM
    Bulgaria Hopes to Promptly Resolve All Possible Obstacles to Joining TurkStream
    Bulgaria hopes to settle all possible problems that may arise during talks devoted to the country's potential role as a transit state for gas flowing from Russia through the TurkStream pipeline as soon as possible, Vice-President of the National Assembly Emil Hristov said Monday.
    MOSCOW (UrduPoint News / Sputnik - 17th December, 2018) Bulgaria hopes to settle all possible problems that may arise during talks devoted to the country's potential role as a transit state for gas flowing from Russia through the TurkStream pipeline as soon as possible, Vice-President of the National Assembly Emil Hristov said Monday.

    "Before leaving, we spoke to Bulgarian Energy Minister [Temenuzhka Petkova]. We were told that a provider tender was about to be declared, which [sounds] positive to me. We hope to resolve all possible issues in the coming months," Hristov said after a meeting with Konstantin Kosachev, the chairman of the Russian upper house Foreign Affairs Committee.

    The TurkStream pipeline project envisages the construction of a gas pipeline comprising two legs, each with the capacity to deliver 15.7 billion cubic meters (554 billion cubic feet) of gas per year. The first leg is set to bring gas across the Black Sea directly to Turkey, while the other one will run across Turkey to its western border, transporting natural gas to countries in the south and southeast of Europe.

    Russia's energy giant Gazprom, responsible for the pipeline's construction, has been considering options for extending the second leg of the pipeline through Bulgaria and Serbia or through Greece and Italy.


    https://www.urdupoint.com/en/world/bulgaria-hopes-to-promptly-resolve-all-possib-508431.html

    It's too late now, the so called Slavic/Orthodox unity doesn't exist, and had the Vulgarians cooperated they would of been making over $1 Billion a year in transit fees alone. They've cut off their nose to spite their face.
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    GarryB

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    Re: Russian Oil and Gas Industry: News

    Post  GarryB on Mon Dec 17, 2018 11:35 pm

    Well to be honest the Russians would be a bit naive to trust them again after they sabotaged the original plan to pipe the gas across the Black Sea to them directly... who could say they wouldn't do the same in 5 years time?

    Any old change of government could do it... America could promise them 2 billion a year in compensation... and then after paying it for two years stop paying... it would be enough to get them to cancel and piss off the Russians...


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