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    Russian Oil and Gas Industry: News

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    Austin

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    Post  Austin on Sat Aug 15, 2015 4:28 pm

    Gazprom earnings down
    kvs
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    Post  kvs on Sat Aug 15, 2015 5:04 pm

    Austin wrote:Gazprom earnings down

    The tone of this article is hysterical. It is an amateur piece of nonsense that is rather insulting to the intelligence.

    Why is a 13% drop in consumption due to the fact that last winter in Europe was on of the warmest on records and the
    fact that the Kiev regime is doing everything it can to stop using Russian gas and Ukraine's economy has shrunk by almost
    18%, some sort of doom for Gazprom? What sort of moron would expect:

    1) constant consumption every year

    2) increasing consumption from year to year

    If the EU offshores more industry it will reduce its gas consumption. Weather is obviously a leading order variable in natural
    gas consumption.
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    Post  PapaDragon on Sat Aug 15, 2015 6:11 pm

    Austin wrote:Gazprom earnings down
    Jesus Christo, take a chill-pill Austin!

    Those articles are total garbage and it is easy to interpret data in more than one way.

    If our local Ruskies are not nervous then there is no reason for you to get all panicky...
    sepheronx
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    Post  sepheronx on Sat Aug 15, 2015 8:30 pm

    The article makes little sense since:

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

    MOSCOW, August 10 / TASS/ The net debt of Russia's gas major Gazprom has decreased by 12% to 1.45 trillion rubles ($22.6 bln) as of March 31, year-on-year, the company said in its first quarter report on Monday.
    The net debt, defined as short-term borrowings and current portion of long-term loans, short-term promissory notes payable, long-term loans, long-term promissory notes payable, net of cash and cash equivalents as well as cash and cash equivalents restricted to withdrawal under the terms of certain borrowings and other contractual obligations decreased by 202.367 billion rubles ($3.2 bln).
    The reasons for the decreasing value·of this index are associated with an increase in cash and cash equivalents.
    Gazprom's net profit under IFRS grows 1.7 times in Q1

    It is a shame that they only allow facebook postings in their comment section or I would have posted the above article to prove RBTH bullshit.
    kvs
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    Post  kvs on Sat Aug 15, 2015 9:33 pm

    sepheronx wrote:The article makes little sense since:

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

    MOSCOW, August 10 / TASS/ The net debt of Russia's gas major Gazprom has decreased by 12% to 1.45 trillion rubles ($22.6 bln) as of March 31, year-on-year, the company said in its first quarter report on Monday.
    The net debt, defined as short-term borrowings and current portion of long-term loans, short-term promissory notes payable, long-term loans, long-term promissory notes payable, net of cash and cash equivalents as well as cash and cash equivalents restricted to withdrawal under the terms of certain borrowings and other contractual obligations decreased by 202.367 billion rubles ($3.2 bln).
    The reasons for the decreasing value·of this index are associated with an increase in cash and cash equivalents.
    Gazprom's net profit under IFRS grows 1.7 times in Q1

    It is a shame that they only allow facebook postings in their comment section or I would have posted the above article to prove RBTH bullshit.

    Great link. Looks like Gazprom's profit reflects the ruble devaluation. It jumped by about the inverse of the ratio of the old ruble dollar exchange to the one
    after devaluation. This proves that major Russian energy companies are totally immune from the devaluation. All the yapping about Russian needing
    to import precious western technology is so much BS.
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    Post  KoTeMoRe on Sat Aug 15, 2015 9:54 pm

    PapaDragon wrote:
    Austin wrote:Gazprom earnings down
    Jesus Christo, take a chill-pill Austin!

    Those articles are total garbage and it is easy to interpret data in more than one way.

    If our local Ruskies are not nervous then there is no reason for you to get all panicky...

    Actually those are taken from Russian official data. Normal that Gazprom cuts production if there's too much gas in the pipe. That what all majors did with the fall of the prices. Cut investment, made people redundant, cut costs...Guys this is Capitalism. There's nothing to actually worry about. It's cyclical.

    On a side note, ask yourself why Gazprom is cutting debt so fast? Because it has cut investment...Fucking chill. It's becoming annoying to have to explain how business works, without debt, no investment. Gazprom is huge, it has a cycle, it has better profit now, because it doesn't need to invest huge sums for the next years, since prices are low, more investment, more "stock', lower price. This is price retention and these people know their game, CHILL.
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    Post  kvs on Sat Aug 15, 2015 10:09 pm

    KoTeMoRe wrote:
    PapaDragon wrote:
    Austin wrote:Gazprom earnings down
    Jesus Christo, take a chill-pill Austin!

    Those articles are total garbage and it is easy to interpret data in more than one way.

    If our local Ruskies are not nervous then there is no reason for you to get all panicky...

    Actually those are taken from Russian official data. Normal that Gazprom cuts production if there's too much gas in the pipe. That what all majors did with the fall of the prices. Cut investment, made people redundant, cut costs...Guys this is Capitalism. There's nothing to actually worry about. It's cyclical.

    On a side note, ask yourself why Gazprom is cutting debt so fast? Because it has cut investment...Fucking chill. It's becoming annoying to have to explain how business works, without debt, no investment. Gazprom is huge, it has a cycle, it has better profit now, because it doesn't need to invest huge sums for the next years, since prices are low, more investment, more "stock', lower price. This is price retention and these people know their game, CHILL.

    You tell the one posting hysterical articles at RBTH to chill. Everyone here responded to the retarded hysteria in that article.
    The writers of the article are the ones who ignore business reality and your reading comprehension skills are lacking. Papa Dragon
    was not denying the 13% drop. But the 13% drop does not imply the end of Gazprom as insinuated by the article posted by
    Austin.
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    Post  KoTeMoRe on Sat Aug 15, 2015 10:33 pm

    kvs wrote:
    KoTeMoRe wrote:
    PapaDragon wrote:
    Austin wrote:Gazprom earnings down
    Jesus Christo, take a chill-pill Austin!

    Those articles are total garbage and it is easy to interpret data in more than one way.

    If our local Ruskies are not nervous then there is no reason for you to get all panicky...

    Actually those are taken from Russian official data. Normal that Gazprom cuts production if there's too much gas in the pipe. That what all majors did with the fall of the prices. Cut investment, made people redundant, cut costs...Guys this is Capitalism. There's nothing to actually worry about. It's cyclical.

    On a side note, ask yourself why Gazprom is cutting debt so fast? Because it has cut investment...Fucking chill. It's becoming annoying to have to explain how business works, without debt, no investment. Gazprom is huge, it has a cycle, it has better profit now, because it doesn't need to invest huge sums for the next years, since prices are low, more investment, more "stock', lower price. This is price retention and these people know their game, CHILL.

    You tell the one posting hysterical articles at RBTH to chill.   Everyone here responded to the retarded hysteria in that article.
    The writers of the article are the ones who ignore business reality and your reading comprehension skills are lacking.   Papa Dragon
    was not denying the 13% drop.   But the 13% drop does not imply the end of Gazprom as insinuated by the article posted by
    Austin.

    I didn't really read that from the RBTH article....I simply read the fact that Gazprom had long term planning and did things the ol' capitalist way. When things are good , you invest, when they're bad you cut the losses. Unfortunatley gas business isn't showbinis.
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    Post  sepheronx on Sun Aug 16, 2015 6:55 am

    Gazprom is kinda of an odd company. They indulge more than simply oil and gas. They are in banking, manufacturing, etc. They will obtain profits. They will cut back on production but investments maybe not so much, as there is still demand in petrol (glut already happening in other parts of the world, including Canada as I have read on Friday). Gazprom is building more and modernizing more refineries and I imagine they are going to be in the east as the concentration on economic development is over there. And I also read that petrol prices are higher in the east, something like 30% higher than in the west part of Russia so more petrol plants the better. As well, they can start exporting it to North Korea, South Korea and China and gain profit from that as well. Then there is also the idea that I think Gazprom is looking to build a shipyard, or purchase one, to build ships and equipment for the offshore oil and gas, and transportation.
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    Post  sepheronx on Tue Aug 18, 2015 11:29 pm

    China plans to launch construction of border crossing of Power of Siberia pipeline in 2015
    MOSCOW, August 18. /TASS/. China plans to launch construction of the border crossing within the Power of Siberia natural gas pipeline project by the end of 2015, PetroChina Vice President Huang Weihe said in an interview aired by the Rossiya-24 TV news channel on Tuesday after negotiations with Gazprom.
    "This is a very important project. As of today all operations are in line with strictly defined timeline and we witness quite a serious progress in the Power of Siberia project. We hope that already by the end of the year the construction of border crossing will be launched in Heilongjiang province. We also hope to finalize the project already in 2017 or the very beginning of 2018," he said.
    On May 21, 2014 Gazprom and China National Petroleum Corporation signed a 30-year contract on Russia's pipeline gas supplies to China in the amount of 38 billion cubic meters of gas per year. The contract is worth $400 bln. The eastern route stipulates the supply of 38 billion cubic meters of natural gas to China annually from gas deposits in Yakutia in northeast Russia and the Irkutsk Region in East Siberia via the Power of Siberia gas pipeline. The 2,700-kilometer-long western route envisages the supply of 30 billion cubic meters of natural gas to China annually from gas deposits in West Siberia. The western route, called Power of Siberia-2, is intended to run across the highly mountainous area of the Altai region in West Siberia to China.
    On June 29, 2014 the construction of the Chinese section of the Power of Siberia was officially launched in China.
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    Post  sepheronx on Thu Aug 20, 2015 2:10 am

    "Gazprom oil" has put into operation at the Prirazlomnoye field second production well

    Gee, Gazprom mustn't be hurting cause a new production?
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    Post  George1 on Thu Aug 20, 2015 4:58 pm

    Nord Stream gas pipeline resumes gas transportation after repair
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    Post  higurashihougi on Fri Aug 21, 2015 5:06 am

    Can you believe they still write these piece of shit ?

    https://www.washingtonpost.com/world/russia-used-to-have-a-powerful-weapon-in-its-energy-sector-not-anymore/2015/08/17/b58f314c-4043-11e5-b2c4-af4c6183b8b4_story.html

    At the same time, vast new stores of natural gas were unlocked in the United States as part of the shale gas boom lol1 lol1 lol1 lol1 , further increasing global supplies. lol! lol!
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    Post  sepheronx on Fri Aug 21, 2015 5:50 am

    No further new wells are being created, while only 5 shale oil companies went bust with more in the red. But once prices go back up, expect new and former companies to spring back up. So Russia living off of a $50 - $60bbl would be most ideal, as it keeps competition away, thus could drive up more contracts with other countries.
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    Post  Karl Haushofer on Mon Aug 24, 2015 11:34 am

    Lenta says that Iran has promised to increase oil production “at any cost”. Wonder how low the oil price can go? Is $20 realistic?
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    Post  sepheronx on Mon Aug 24, 2015 2:54 pm

    The problem I am seeing is that if they increase production, and oil devalues even more, it will turn companies off from investing in Irans oil companies so those $100's of billions Iran said outsiders would invest in, in Iran, will never happen due to having nearly no turnout of profits. So I am assuming some sort of deals are worked out that they increase production to get oil low, and companies invest, but they will invest significantly less, then they could get "farther" with their low investments when or if oil goes up again.

    It seems like economic suicide imo.
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    Post  higurashihougi on Mon Aug 24, 2015 3:00 pm

    South Stream hope of revival ? I though Russia rejected South Stream and switched to Blue Stream Enlarged Version ?

    http://sputniknews.com/russia/20150824/1026122064/putin-bulgaria-pipeline.html

    President Vladimir Putin’s stated desire to keep working with Bulgaria on several joint projects inspires hope that the South Stream gas pipeline project Russia scrapped last year may eventually take off, German media wrote on Monday.
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    Post  par far on Mon Aug 24, 2015 9:06 pm

    Karl Haushofer wrote:Lenta says that Iran has promised to increase oil production “at any cost”. Wonder how low the oil price can go? Is $20 realistic?



    Why would Iran do that?
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    Post  par far on Mon Aug 24, 2015 9:06 pm

    Karl Haushofer wrote:Lenta says that Iran has promised to increase oil production “at any cost”. Wonder how low the oil price can go? Is $20 realistic?



    Why would Iran do that?
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    Post  AlfaT8 on Mon Aug 24, 2015 9:30 pm

    par far wrote:
    Karl Haushofer wrote:Lenta says that Iran has promised to increase oil production “at any cost”. Wonder how low the oil price can go? Is $20 realistic?



    Why would Iran do that?

    Perhaps to throw another wrench into the economic boondoggle, or to put it in another way, to add more fuel to the economic fire. Razz
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    Post  KoTeMoRe on Mon Aug 24, 2015 9:46 pm

    par far wrote:
    Karl Haushofer wrote:Lenta says that Iran has promised to increase oil production “at any cost”. Wonder how low the oil price can go? Is $20 realistic?



    Why would Iran do that?

    Because more sales are needed. Iran has contracts to honor with SK that were stiffed under the sanctions regime. The main issue is that there could be a problem with the US senate which could block the 150bln USD sequestrations and frozen assets. Iran is just making sure it doesn't get *****. So they will produce more. The other issue with Iran is that it needs fresh cash ASAP to relaunch a series of social programs that were frozen since 2010. As it can't just stop throwing 2/3 blns a year to its own endeavours in the region, Iran needs oil money even at the lowest price possible.

    Furthermore there's a reason behind this glut. It's simply a form of stimulus. Plenty of oil, means lower prices, means people having more incentives to buy it. That line of thinking has a flaw however. Oil isn't just any commodity and de-valuating the damn thing is a very bad precedent. The lower the oil goes, the higher it rebounds over time (peak-oil complex). And Iran wouldn't be really hurting at this point. Russia itself is pumping more than ever. So yeah the wrench in the machine kind of thing could be possible.
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    Post  sepheronx on Mon Aug 24, 2015 10:12 pm

    http://sputniknews.com/business/20150824/1026144413/oil-prices-muhammad-as-sayyad-fall-further.html

    This is the reason why they up production.
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    Post  KoTeMoRe on Mon Aug 24, 2015 10:52 pm

    sepheronx wrote:http://sputniknews.com/business/20150824/1026144413/oil-prices-muhammad-as-sayyad-fall-further.html

    This is the reason why they up production.

    Errm that's the consequence, not the reason. The reason is that there's a cyclical surge on oil efficiency and the US is currently NOT buying back oil for its strategic reserve as it used to. Especially since it is also lowering the need for it, since it has stopped it military shenanigans.

    The other issue is the general worsening of the global economy. In the face of the Growth Crowd, there's little real growth. So people just wait for it to be the lowest possible. Your normal chicken game. However, as said, the deeper it falls, the higher it bounces back. I really hope people enjoy the 35 USD ERA, because they'll love the 190 USD era rape.

    BTW little clarification, Russia pegs its bbl price with the Brent, not WTI. Brent is little under 44 USD bbl..
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    Post  Karl Haushofer on Mon Aug 24, 2015 11:11 pm

    par far wrote:
    Karl Haushofer wrote:Lenta says that Iran has promised to increase oil production “at any cost”. Wonder how low the oil price can go? Is $20 realistic?



    Why would Iran do that?
    Why would Iran increase it's oil production? Iran can drill a lot of oil with cheap costs and they can profit with even the current low price.
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    Post  sepheronx on Mon Aug 24, 2015 11:19 pm

    KoTeMoRe wrote:
    sepheronx wrote:http://sputniknews.com/business/20150824/1026144413/oil-prices-muhammad-as-sayyad-fall-further.html

    This is the reason why they up production.

    Errm that's the consequence, not the reason. The reason is that there's a cyclical surge on oil efficiency and the US is currently NOT buying back oil for its strategic reserve as it used to. Especially since it is also lowering the need for it, since it has stopped it military shenanigans.

    The other issue is the general worsening of the global economy. In the face of the Growth Crowd, there's little real growth. So people just wait for it to be the lowest possible. Your normal chicken game. However, as said, the deeper it falls, the higher it bounces back. I really hope people enjoy the 35 USD ERA, because they'll love the 190 USD era rape.

    BTW little clarification, Russia pegs its bbl price with the Brent, not WTI. Brent is little under 44 USD bbl..

    Yes, you are right, partially. The initial fall is what created this issue, but it was perpetuated by the issue itself. If OPEC nations decided to just drop production, then prices would go back up, even if modestly.

    Right now, big time sellers is petrol for Russia, and even they are facing an issue where production costs have gone up by 14% or more (I don't know where they get the figures from) but consumer prices have dropped (really small, maybe less than 1%). But they are the ones still big time earners and I believe they are selling those more, as nations are already facing a petrol glut.

    You are also right that the world economy is going into the shitter. And yes, that would also greatly effect Russia. But in these times, it should be in Russia's best interest to divert its economy not eastward, westward or souther or north or whatever, but inward. Since Russian consumers account for 80% or more of Russia's GDP, there needs to be concentration on making Russian's more consistent consumers and should concentrate on sale of petrol for domestic, sale of components for domestic, etc etc etc. With the rouble dropping, this should be prime opportunity for major companies to move production to at home. Yota devices for instance should be making the cellphones at home now. Same with other Russian brands. But they are not doing it, because it is expensive to open up production no matter where, and the Russian central bank, and the absolutely brilliant (not) minds are making it relatively expensive to set up shop at home.

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