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    Russian Oil and Gas Industry: News

    KoTeMoRe
    KoTeMoRe


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    Post  KoTeMoRe Fri Jul 24, 2015 1:59 am

    kvs wrote:In my view the prime motivation for "normalizing" relations with Iran by the west has been to gain access to its
    gas reserves.   Remember the Nabucco pipeline project?  It went nowhere because there was not enough gas to
    fill it from the Central Asian 'stans (Kazakhstan, Azerbaijan, and even Turkmenistan which was over-committed to
    China and did not have the production levels).  

    So now the EU is trying to resurrect Nabucco and I think Iran will be willing since it needs the money.   I think Russia
    has no reason to fret and it is in its interests for Iran to become a EU supplier.  Russia's natural gas supply is not
    infinite and having another major supplier to the EU will remove the ceaseless EU-tard paranoia about "energy security".
    It is a bad position for Russia to be the sole supplier since any supply disruption is treated almost like an act of war.

    While I agree that the EU seeks diversification, the issue with Iran is that over 50% of its gas fields are in the Gulf, right next to the guys who want most Shias dead. Plus there's a big issue with the current Pipeline network the Axis Bushehr, Qom, Tabriz is really overloaded for the near market (Irak) and domestic market.

    Iran is currently faced with a region paying gold-bars for relatively low volumes, imagine exchanging that for region that needs huge initial investment, will lower the price per unit and ultimately will try and impose regulations that do not favor the suppliers. For the Rest Nabucco is as good as dead with the Turkish and Greek agreement over TurkStream Iran already has a hub with Turkey, so basically the Iranian side is better served by Turkstream and can reach MORE customers than through Nabucco. Also don't forget that Nabucco is still a way to get rid of Ukraine at worst for Russia, so even then the sour deal will be on Iran, but I don't believe for a moment, the people that fought for the nuclear deal so hard and smart, would settle for such an open trap.
    magnumcromagnon
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    Post  magnumcromagnon Fri Jul 24, 2015 2:38 am

    KoTeMoRe wrote:
    magnumcromagnon wrote:
    PapaDragon wrote:
    JohninMK wrote:This, if for real, is a huge bombshell for the US/EU hopes of reducing dependence of Russian gas with imports from their new buddy Iran.

    VIENNA, July 23. /TASS/. Iran may start liquefied natural gas (LNG) supplies to Europe in 5-10 years, Iran’s Deputy Oil Minister Amir Hossein Zamaninia told TASS on Thursday.

    Iran may increase gas production to 1.1 bln cubic meters daily by 2017 — official

    The deputy minister said such option is more preferable than building a gas pipeline to supply gas to European nations. Zamaninia said the price in Europe now is much lower than in South-East Asia and therefore there is no sense in pipeline gas supplies to Europe. Europe may become the market for Iranian gas in the mid-term, the official said at the Iran/EU investment and trade conference.

    Zamaninia said the EU always consumed Iranian oil. Europe may be a market for the Iranian gas in the mid-term and long-term, he added. The deputy minister said natural gas will remain the preferable energy source in the foreseeable future. Iran and the EU may reach long-term relations in politics and the economy and in oil and gas sphere, Iran’s deputy minister said.

    Also posted in the Iran News thread.

    Meh, by that time Russia will be pumping both gas and oil to Asia big time, North Stream 2.0 will be fully operational, Turkey will be buying their share of RU gas and it will be Russian companies that will have big chunk in Iran petroleum industry.

    Ruskies were not putting all that effort into removing Iran sanctions just because they were bored.  thumbsup


    Likely if that goes through, then it will probably come with Russia's approval, which entails to:

    1.) The revenue from Persian gas being sold to Europe, may then be repaid by buying goods from Russia.

    2.) Likely they'll use existing infrastructure built by Gazprom, in which Russia will earn transit fee's, as well as repair and maintenance fee's for pipeline up keep.

    3.) As you said Russian companies will likely hold big shares, especially if Iran accepts the free-trade zone with the EEU (or possibly even join as a member of the EEU at a later point).

    Forget about FTZ between Iran and the EU. There's litterally nothing that Iran can sell to the EU (bar hydrocarbons) and those are accise prone anyway. And as we have seen the EU will use that income as a lever against Iran (especially with the Saudis around the corner) so NO, no FTZ there. And even if Iran builds a dedicated pipeline, the current 3rd Energy package will pretty much make it non-worthy as you can't sell your gas and own your own infrastructure...

    So yeah better pay a fee to Russia and play as a team, instead of being slowly but surely taken out of your own investment...

    I think you've gotten things mixed up...EEU =/= EU

    EEU = Eurasian Economic Union (Russia, Kazakhstan, Kyrgyzstan, Armenia, Belarus)

    EU = European vassal states
    magnumcromagnon
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    Post  magnumcromagnon Fri Jul 24, 2015 2:46 am

    kvs wrote:In my view the prime motivation for "normalizing" relations with Iran by the west has been to gain access to its
    gas reserves.   Remember the Nabucco pipeline project?  It went nowhere because there was not enough gas to
    fill it from the Central Asian 'stans (Kazakhstan, Azerbaijan, and even Turkmenistan which was over-committed to
    China and did not have the production levels).  

    So now the EU is trying to resurrect Nabucco and I think Iran will be willing since it needs the money.   I think Russia
    has no reason to fret and it is in its interests for Iran to become a EU supplier.  Russia's natural gas supply is not
    infinite and having another major supplier to the EU will remove the ceaseless EU-tard paranoia about "energy security".
    It is a bad position for Russia to be the sole supplier since any supply disruption is treated almost like an act of war.

    I think you forgotten that the Caspian Sea shore countries signed a resource sharing agreement, and it's very likely that there's framework in the treaty to prevent politicized economic warfare. If Iran wants to sell gas to Europe, then it has to go through Russia one way or another.

    5 Caspian Sea nations hammer out resources-sharing deal in Russia

    BTW, Russia can do one thing for Iran that the US/EU can't...build up it's strategic military potential, and prevent an all out attack from Israel and the GCC states.
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    Austin


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    Post  Austin Fri Jul 24, 2015 11:14 am

    Looking at the recent statement from Medvedev and Oil Minister , it seems the elite in Russia are still woooed by the idea of sticking itself to Europe , Projecting itself as a stable Energy Partner.

    But this Article acrutely describes Gazprom position

    Gazprom’s large-scale project plans suspended - experts
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    Austin


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    Post  Austin Mon Jul 27, 2015 8:46 pm

    interesting read atleast for the stastics

    Deutsche Bank on Russian 'Break-Even' Oil Prices

    KoTeMoRe
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    Post  KoTeMoRe Mon Jul 27, 2015 9:03 pm

    Austin wrote:interesting read atleast for the stastics

    Deutsche Bank on Russian 'Break-Even' Oil Prices


    Yay the DB is only 6 months late...We had this discussion on how having a volatile currency plays nicer when you have unfongible exports...And indeed the break even price all matters settled is around 65 USD all in all. The 80 USD/bbl is just the Russian MinFin fucking around with its own population and inducing austerity while pretending they're in the gutter. The reality as we see is completely (let me repeat this) COMPLETELY different. This is the kind of things the Russians should ask about, why the Russian state is all bent on neo-mercantilism, while it has it's own currency. Oh well...

    sepheronx
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    Post  sepheronx Thu Jul 30, 2015 12:05 am

    Gazprom and SIBUR signed the "contract of century" on the construction of the Amur GPP

    Gazprom and SIBUR signed the "contract of century" on the construction of the Amur gas processing plant, the price of which, as previously reported, is estimated at 791 billion (includes VAT and the contractor's remuneration).

    Parties reported that the company "Gazprom processing Blagoveshchensk" and JSC NIPIgaspererabotka (NIEGAS, is part of the SIBUR group) "had agreed to a partnership for the design, coordination of deliveries of equipment, materials and construction management of the Amur gas processing plant (GPP) in the Northern city Free the Amur region".

    Amur GEA will become the largest in Russia and one of the world's largest enterprises for processing of natural gas — its design capacity will amount to 49 billion cubic meters per year. The composition of the GEA will also include the world's largest helium production.

    "Attracting Niigata — the leading Russian center for design, engineering and management of construction companies oil and gas refining and petrochemical industries - will most effectively implement the project. NIEGAS has the appropriate competences, advanced scientific-technical and intellectual base, has a successful experience of managing large investment projects on processing of hydrocarbons, including with foreign companies," — said in a joint release.

    In the framework of the joint project NIEGAS as contractor, will ensure the preparation of documentation, supply of equipment and materials, construction and installation works on the Amur gas processing plant and will realize transmission of LLC "Gazprom processing Blagoveshchensk plant in the mechanical condition of readiness.

    On the Amur GPP through the pipeline "Power of Siberia" will come multicomponent gas from the Yakutia and Irkutsk gas production centers created by Gazprom in the framework of implementation of the Eastern gas program. Commercial products of the GEA will be methane, ethane, propane, butane, pentane-hexane fraction and helium. During the construction of the plant will be used the most modern technological solutions that allow to minimize the plant's impact on the environment.

    In accordance with the project implementation schedule in the current year it is planned to start preparing the site for construction. The phased commissioning of production lines plant will be synchronized with production capacities development in Yakutia and Irkutsk region.

    Amur GPP "Gazprom" will be technologically linked with the enterprise for deep processing of hydrocarbons, the construction is currently considering "SIBUR".

    The government previously supported the request of Gazprom on the award of the project Amur GPP status of territories of priority socio-economic development (TOR).

    Massive deal indeed.
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    Post  sepheronx Fri Jul 31, 2015 10:47 am

    Moscow, Ankara Continue Talks on Turkish Stream Gas Pipeline - Ambassador

    Erdogan May Visit Russia in November, Discuss Turkish Stream With Putin
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    Post  George1 Fri Jul 31, 2015 1:34 pm

    Oil production in Russia to stand at 530.5 mln tonnes in 2015 — ministry
    JohninMK
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    Post  JohninMK Fri Jul 31, 2015 6:10 pm

    Another backer for NordStream2

    MOSCOW, July 31. /TASS/. Wintershall announced its intention to participate in Nord Stream 2 project as the company together with Russia’s gas giant Gazprom signed a respective memorandum, Wintershall reported Friday.

    The project implies construction of new lines of the Trans-Baltic gas pipeline, which will allow supplying up to 55 bln cubic meters of additional Russian gas directly to Germany.


    And the Russian economy gets slowly stronger.

    MOSCOW, July 31. /TASS/. The Russian Central Bank lowered its key interest rate by 0.5 percentage points to 11%, the regulator said Friday.

    The bank said the decision is based on the fact the balance of risks still remains shifted to a significant economic slowdown, despite higher inflation risks.

    The Central Bank’s decision is in line with the experts’ forecasts. The majority (10 out of 15) analysts questioned by TASS believed that the Central Bank will lower its key rate by up to 0.5 percentage points to 11% per annum. At the same time 5 experts believed that the Central Bank will take a break.

    According to the Russian Central Bank, the dynamics of the main macroeconomic indicators signifies further cooling of the economic activity. According to the Bank’s estimations, the decline of Russia’s GDP in the Q2 against the same period last year may be even more significant than in the Q1. "Although factors of the structural nature still restrain the economic growth, the decline in economic output currently, among other things, is of a cyclical pattern," the regulator said, noting that the low level of consumer and business confidence, the decline in use of production capacities and labor.

    The next meeting of the Central Bank on monetary policy will be held on September 11.
    sepheronx
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    Post  sepheronx Sat Aug 01, 2015 9:26 pm

    Funny about western crusade and Russian oil:

    US Imports of Russian Oil Hit 3-Year High – Media
    US imports of Russian crude oil in the past two months have reached their highest level in three years, British media reported on Saturday.
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    Karl Haushofer


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    Post  Karl Haushofer Sat Aug 08, 2015 11:13 pm

    Finnish Sanoma-media is saying that Igor Sechin thinks that Russia will have a deficit of gasoline by 2017 unless Russia's oil refining industry is not rejuvenated: http://www.hs.fi/talous/a1305976138628

    BS article or does this have any merit?
    JohninMK
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    Post  JohninMK Sat Aug 08, 2015 11:36 pm

    Karl Haushofer wrote:Finnish Sanoma-media is saying that Igor Sechin thinks that Russia will have a deficit of gasoline by 2017 unless Russia's oil refining industry is not rejuvenated: http://www.hs.fi/talous/a1305976138628

    BS article or does this have any merit?
    This is a bit more on what Sechin said. Maybe there is a bit of posturing along the lines of 'give us more investment money'. He does have a dog in the fight!

    Russia has lots of oil, but in a weird twist of fate, the nation could soon run dangerously low on gasoline. The head of Russia's biggest oil company is warning that the world's second largest oil producing nation could soon face a fuel shortfall. Rosneft's Igor Sechin predicts that Russia's gasoline shortage could reach 5 million tonnes a year by 2017. It produced around 38 million tonnes of gasoline in 2014, according to the energy ministry.

    The expected shortfall is a result of many factors, including new tax rules, a weakening economy and Western sanctions that are hurting Russia's oil refining businesses. This is pushing fuel prices up, even as oil prices have plunged.

    Gasoline prices rose 6.3% in the first half of the year, according to official data. In a letter sent to Russian President Vladimir Putin and quoted by local media this week, Sechin urged Putin to address the issue by introducing benefits for oil refineries. He said this would boost investment in the industry and increase efficiency.

    Related: How badly have sanctions hit Russia?

    New Russian tax rules, which were introduced in January, are exacerbating the situation. They were designed to make it cheaper to export crude oil, while raising taxes on refined oil exporters and miners. The move was meant to split the tax burden more evenly across the energy and mining sectors and give a boost to crude exporters. But the change ultimately made crude oil more expensive for domestic refineries, causing their profits to drop.

    "Lower global prices for oil and oil products, along with the significant depreciation of the ruble, mean that [the tax policy's] effect could well differ significantly from what was initially planned," wrote Dmitry Loukashov, a chief oil and gas analyst at VTB.

    Oil prices have dropped from around $107 a barrel last June to $44 right now, weighing down Russia's oil-dependent economy. The refineries are also hurting because of Western sanctions, which are preventing them from using critical foreign technology.


    http://money.cnn.com/2015/08/07/news/russia-oil-fuel-shortage/
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    Post  PapaDragon Sat Aug 08, 2015 11:41 pm


    Guys, guys chill...

    Here is a well written article to heal whatever ails ya'

    The US-Saudi Oil Deal: From “Win-Win” to “Mega-Loose”

    http://www.globalresearch.ca/the-us-saudi-oil-deal-from-win-win-to-mega-loose/5467991

    Abridged version here:

    Saudi Determined to Crash Oil Prices Until US Shale Breathes Its Last

    http://sputniknews.com/politics/20150808/1025540019.html

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    Post  Karl Haushofer Sat Aug 08, 2015 11:43 pm

    PapaDragon wrote:
    Guys, guys chill...

    Here is a well written article to heal whatever ails ya'

    The US-Saudi Oil Deal: From “Win-Win” to “Mega-Loose”

    http://www.globalresearch.ca/the-us-saudi-oil-deal-from-win-win-to-mega-loose/5467991

    Abridged version here:

    Saudi Determined to Crash Oil Prices Until US Shale Breathes Its Last

    http://sputniknews.com/politics/20150808/1025540019.html


    I never understood this. You can never kill the shale industry for good by lowering the oil price, because once the price gets up again the shale industry also comes back.
    JohninMK
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    Post  JohninMK Sun Aug 09, 2015 12:18 am

    Karl Haushofer wrote:
    PapaDragon wrote:
    Guys, guys chill...

    Here is a well written article to heal whatever ails ya'

    The US-Saudi Oil Deal: From “Win-Win” to “Mega-Loose”

    http://www.globalresearch.ca/the-us-saudi-oil-deal-from-win-win-to-mega-loose/5467991

    Abridged version here:

    Saudi Determined to Crash Oil Prices Until US Shale Breathes Its Last

    http://sputniknews.com/politics/20150808/1025540019.html


    I never understood this. You can never kill the shale industry for good by lowering the oil price, because once the price gets up again the shale industry also comes back.
    That is not totally correct. Shale exploitation is very capital intensive (almost continuous re-drilling of new holes needed) and if the money is not available at low interest the break-even rises fast. The heart of the shale 'revolution' is in the US Mid-West, so watch what happens there if, as expected the oil price stays where it is, or goes lower. At the moment there is still activity but in Q4 the last of the forward hedged (they are still getting $85+ not current $43-) price oil comes out of the ground, there will then be carnage as the interest on outstanding loans comes due with nothing to cover it. After this it is possible that no investor will touch a shale investment again, and that is ignoring the environmental issues that are gradually coming to light.
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    Post  Project Canada Sun Aug 09, 2015 12:26 am


    The refineries are also hurting because of Western sanctions, which are preventing them from using critical foreign technology.

    What are these "Technologies"? can't they just grab the blueprints, reverse engineer them or something and start producing products from these so called Technologies locally and use them in their oil exploration/extraction operations?
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    Post  JohninMK Sun Aug 09, 2015 12:45 am

    Project Canada wrote:

    The refineries are also hurting because of Western sanctions, which are preventing them from using critical foreign technology.

    What are these "Technologies"? can't they just grab the blueprints, reverse engineer them or something and start producing products from these so called Technologies locally  and use them in their oil exploration/extraction operations?
    Not that simple. The designs/blueprints/software are normally well protected and anyway, my understanding is that Russia is basically an ethical country with no reputation, unlike the Chinese, of ripping off other peoples' products.
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    Post  kvs Sun Aug 09, 2015 2:19 am

    Project Canada wrote:

    The refineries are also hurting because of Western sanctions, which are preventing them from using critical foreign technology.

    What are these "Technologies"? can't they just grab the blueprints, reverse engineer them or something and start producing products from these so called Technologies locally  and use them in their oil exploration/extraction operations?

    Having had relatives who were involved in launching cracking facilities in the Soviet past, I will say this is total and
    utter shit of a claim.   The "precious western technology" mantra is beyond retarded, it is also malicious.   I would
    go as far as to say that most refinery technology in Russia is indigenous and there is simply nothing to import.  

    http://www.themoscowtimes.com/article.php?id=512835

    http://in.reuters.com/article/2013/11/22/russia-refining-europe-idINL5N0IT20E20131122

    http://www.bashneft.com/processing-retail/processing/

    Due to its flexible configuration, Bashneft’s refining complex can process various types of hydrocarbons: low- and high-sulphur oil, various types of gas condensate, medium and heavy distillates produced in the course of cooperation between the refineries.

    Bashneft’s refining complex includes a wide range of modern high-technology process units; as a result, the Group has the highest Nelson Index in the industry (8.93).

    A delayed coker, sulphuric acid alkylation and sulphuric acid regeneration units, a catalytic cracking gasoline hydrotreater and a hydrogen production unit commissioned over the last few years have enabled the Group to become an industry leader in terms of refining depth (84.8%) and the share of light products (61.1%) and to ensure the feasibility of producing 100% of fuel to the Euro 5 standard in accordance with the Technical Regulations.

    One of the largest aromatic hydrocarbon production complexes in Russia processes straight-run gasoline into benzene, paraxylene, orthoxylene and toluene, which play an important role in petrochemical production.

    Yeah, looks like Russia is so far behind the "advanced west".   I am sick and tired of listening to this media excrement about
    Russia's need for "advanced western know-how".    Pure propaganda drivel designed for saps.
    sepheronx
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    Post  sepheronx Sun Aug 09, 2015 3:20 am

    If I was part of the ministry of internal affairs, I would put out a complete audit of Mr. Sechin.

    Question I have for Sechin is: What about the current refineries?  All of a sudden, they will stop work and thus leave a demand, that needs to be filled (thus creating a profit)?  That doesn't make sense.  Nor does the fact that once the refineries are up, they are up.  Hence why Russia was able to operate same refineries from 1940's to now (of course upgraded).  Also, it wasn't long ago that I believe it was both Rosneft and Gazprom that got slapped on the wee wee for trying to export a huge portion of the refined oil (petrol) to third countries, creating an artificial glut in order to rake in further profits from back home (sounds familiar, right KVS?).

    There wont be a glut.  They said the same thing with Iran back in the early 2000's and Iranians were making a killing with smuggling gas across the borders because they had far too much petrol.

    As well, if they didn't have the technology to produce it, then how come they were able to sign agreements like this:

    http://www.ogj.com/articles/2015/02/uganda-taps-russian-firm-to-build-country-s-first-refinery.html

    I should add though, what Sechin could be referring to is Euro 5 standard.  As they produce petrol at the European standard and I would assume that some of that technology is imported to make sure it is at that standard.  If that is the case, they can adjust for themselves at what standards they can refine their fuel at. But the rest of it is either CNN putting their own spin on things or Sechin looking for ways to get tax exemptions to continue to plunder Russia's resources for cheap, and gain higher profits (now that their profit margins have dropped).
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    Post  kvs Sun Aug 09, 2015 5:10 am

    sepheronx wrote:If I was part of the ministry of internal affairs, I would put out a complete audit of Mr. Sechin.

    Question I have for Sechin is: What about the current refineries?  All of a sudden, they will stop work and thus leave a demand, that needs to be filled (thus creating a profit)?  That doesn't make sense.  Nor does the fact that once the refineries are up, they are up.  Hence why Russia was able to operate same refineries from 1940's to now (of course upgraded).  Also, it wasn't long ago that I believe it was both Rosneft and Gazprom that got slapped on the wee wee for trying to export a huge portion of the refined oil (petrol) to third countries, creating an artificial glut in order to rake in further profits from back home (sounds familiar, right KVS?).

    There wont be a glut.  They said the same thing with Iran back in the early 2000's and Iranians were making a killing with smuggling gas across the borders because they had far too much petrol.

    As well, if they didn't have the technology to produce it, then how come they were able to sign agreements like this:

    http://www.ogj.com/articles/2015/02/uganda-taps-russian-firm-to-build-country-s-first-refinery.html

    I should add though, what Sechin could be referring to is Euro 5 standard.  As they produce petrol at the European standard and I would assume that some of that technology is imported to make sure it is at that standard.  If that is the case, they can adjust for themselves at what standards they can refine their fuel at.  But the rest of it is either CNN putting their own spin on things or Sechin looking for ways to get tax exemptions to continue to plunder Russia's resources for cheap, and gain higher profits (now that their profit margins have dropped).

    I tend to be a bit skeptical of all the claims of Kremlin oligarch clans. But Sechin is providing evidence of some sort of oligarch faction that is
    acting rather brazenly. I hope this clown gets fired. Russia can look to Ukraine for examples of what happens to countries where the
    oligarchy is too close to power. Putin did a good job suppressing Ukrainian style oligarch kleptocracy but clearly there is much more to be
    done to teach them the rule of law.

    I doubt the Euro 5 standard requires some magic western technology imports. It requires retooling for production of fuels with lower
    sulfur levels. And I am not surprised that Russian refineries have already implemented this upgrade.
    sepheronx
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    Post  sepheronx Sun Aug 09, 2015 6:39 am

    Sechin is acting no different than any other oligarch/billionair. Whenever their profit margin gets hit because of politics, they cry loudly on media. Same thing happened in past with sechin regarding their move in exporting petrol needed for domestic affairs.

    As for retooling for Euro 5 standard: i imagine there isnt any special equipment but probably Russia doesnt currently make it so they probably imported it for quicker setup and operation. That said, only Sechin is complaining, but not head of Bashneft or such? I mean, Rostec by sounds of that already has the technology.

    Just recent, Gazprom signed a huge deal for building a plant to convert natgas to other uses for almost a trillion roubles. Before hand, most of that was done by european countries. Also, I just wonder which companies own which refineries.

    Other issue is that if costs for extraction are too high, others would have already complained too. And there wouldnt be interest in building new plants or even new oil fields. So I guess Sechin should sell Rosneft to someone else and retire? Cause I mean, now they are not profitable, right? My bet it is like German Gref and sberbank - cry how much they lost from sanctions, yet still bring in $98B in profits.....

    Just to further hurt Sechin on this:

    http://sdelanounas.ru/blogs/65610/

    http://sdelanounas.ru/blogs/65511/

    http://sdelanounas.ru/blogs/64192/

    and more:

    http://sdelanounas.ru/blogs/?search=НПЗ

    Seems that after reading through sdelanounas on achievements in the oil refining sector, is mostly Gazprom and lukoil. Which brings me to a new point, Lukoil head said that with current events, they can profit even with $25 bbl, and those "taxes" that Sechin is complaining about came into effect in 2011, in other words, Lukoil is either in a better position than Rosneft, or Sechin really is that much of a greedy swine.
    medo
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    Post  medo Sun Aug 09, 2015 12:05 pm

    Russian refineries produce high quality fuels in EURO4 and EURO5 standards and most are converted or are converting to EURO5 standard for domestic use and for export. Fall in domestic consumption of fuels could be also connected with roads modernizations and building of new highways. If earlier a driver need an hour to come from town A to town B and now with new roads need only half an hour, than you could quickly see, that this driver need less fuel with the same car. This of course bring lower transportation costs for companies and individuals and lower fuel consumption, what mean more fuel could go for export.
    sepheronx
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    Post  sepheronx Mon Aug 10, 2015 3:06 pm

    http://tass.ru/en/economy/813434

    Wait a minute! Gazproms profits over 1.5X in Q1 of this year? And debt down by 12%?

    I thought western news said Russian oil and gas companies are hurting....
    AlfaT8
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    Post  AlfaT8 Mon Aug 10, 2015 3:10 pm

    sepheronx wrote:http://tass.ru/en/economy/813434

    Wait a minute! Gazproms profits over 1.5X in Q1 of this year? And debt down by 12%?

    I thought western news said Russian oil and gas companies are hurting....

    Only in there Wet-dreams. Razz

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