NEFTE Compass articles from February 2002

NEFTE Compass archives from February 2002

Kazakstan builds up to offshore bonanza. (Honey Pot).(Kazakstan will hold tenders for offshore oil exploration)(Brief Article)
February 7, 2002... An offshore exploration bonanza is set to kick off in the north Caspian in 2002 as Kazakstan gears up to hold a first tranche of tenders for some of the 100 or so blocks it has drawn up on its continental shelf. A strategy for tendering...

Caspian cargoes pile up off Azerbaijan. (Logjam).(oil transit through Baku is blocked)(Brief Article)
February 7, 2002... Azerbaijan's dominance as a Caspian oil transit hub has been undermined by a confusing chain of events which has left over 25 barges sitting outside Baku for several weeks waiting to discharge. The snarl-up has caused a major headache for...

US fund ups Lukoil shareholding. (Capital Gain).(Capital Group's stake in Russian oil firm increased to 10%)(Brief Article)
February 7, 2002... In a Western vote of confidence for Lukoil, a US fund manager has accumulated a 10% stake, the biggest ever held by a Western investor in the Russian oil company. The Capital Group is believed to have purchased a 4% Lukoil stake in...

Russia opens floodgates in March. (Spring Cleaning).(Russia cuts export tariff on fuel oil, raises rail freight)(Brief Article)(Statistical Data Included)
February 7, 2002... The government has decided to give a shot in the arm to fuel oil exports next month, to alleviate a glut on the domestic market. Prime Minister Mikhail Kasyanov has signed a resolution slashing in half the export tariff on fuel oil to...

Ex-Kvaerner units big in Yukos plan. (Dynamic Duo).(Yukos Oil Co. makes John Brown Hydrocarbons, Davy Process Technologies part of development strategy)(Brief Article)
February 7, 2002... Yukos has big plans for the two oil field services units that it purchased from Kvaerner for $100 million. Incorporating them into its future development strategy, Yukos has returned their original brand names: John Brown Hydrocarbons and Davy...

BP looking to increase Sidanco stake. (Mending Fences).(British Petroleum Company PLC)(Brief Article)
February 7, 2002... BP is seeking to increase its stake in Sidanco from its current 10% -- a stake bought at record cost and nearly lost in a long business and political battle. Tyumen Oil Co. (TNK) President and CEO Simon Kukes said in an interview with EIG...

Transneft hikes tariffs. (Pied piper).(Federal Energy Commission hikes)(Brief Article)
February 7, 2002... The Federal Energy Commission's (FEK) has decided to hike the crude pumping tariffs of national pipeline operator Transneft by 13%, starting Feb. 21. The news could hardly be pleasing to Transneft, which had been angling for a 42% tariff...

Gazprom ramped second half gas exports. (Better Half).(Brief Article)(Statistical Data Included)
February 7, 2002... Russian Gazprom's sales apparently picked up some in the second half of 2001 after falling 7% in the first half, but not enough to avoid a 2.7% full year dip from 2000 levels, to 126.9 Bcm (12.3 Bcf/d), according to preliminary data from the...

Kasyanov promises to overtake Saudis. (Conquistadors).(Mikhail Kasyanov)(Brief Article)(Statistical Data Included)
February 7, 2002... Few illusions can remain about Russia's ability, or even its desire, to rein in crude exports. January export data show that Russia failed to make any of the 150,000-barrels per day cut that it pledged to Opec. Meanwhile, Prime Minister...

TNK seeks oil major for strategic partner. (Tank Top).(Tyumen Oil Co.)(Brief Article)(Interview)
February 7, 2002... Tyumen Oil Co. (TNK), Russia's fourth biggest oil company with production of 815,500 barrels per day last year, is looking for a strategic partner to provide cash and know-how for its expansion program, TNK President and CEO Simon Kukes tells...

Yukos to grab Sakhaneftegas. (Half and Half).(east Siberian oil fields)(Brief Article)(Statistical Data Included)
February 7, 2002... Yukos is set to acquire a controlling stake in Sakhaneftegas, the east Siberian producer with whom it teamed up to win a tender last year for the giant Talakanskoye oil field. Yukos will receive a 25% stake in Sakhaneftegas in a share swap,...

Equities: Share prices closing on February 5, 2002 ($/Share).(Brief Article)(Statistical Data Included)
February 7, 2002... Equities Share Prices Closing On February 5, 2002 ($/Share) Closing Change From 12 Months Locally Traded Shares Price Jan. 29, 2002 High Low Chemogomeft 3.00 ...

Currencies.(Brief Article)(Statistical Data Included)
February 7, 2002... Currencies US Dollar Exchange Rates Feb.6'02 Jan.30'02 Former Soviet Union Russian ruble 30.72 30.65 Armenian dram 563.28 564.46 Azerbaijani manat 4,801 4,798...

Rosneft joins Kherson refinery group. (Ukraine).(Kherson refinery, Ukraine)(Brief Article)(Statistical Data Included)
February 7, 2002... Russia's state-owned Rosneft has joined Kazak state company Kazakoil and Russian independent Alliance Group in running the Kherson refinery in Ukraine by guaranteeing to supply the Black Sea plant with 12,000 b/d (600,000 metric tons/yr) of...

Butinge spillage costs mount to $10 million. (Lithuania).(Lithuanian crude terminal)(Brief Article)(Statistical Data Included)
February 7, 2002... Lithuania's Butinge crude terminal remains out of action since a spillage in November 2001, costing its owner Mazeikiu Nafta (MN) some $10 million in lost revenues, having failed to load six cargoes in December and four tankers in January. ...

Kazakoil takes bonds on the road. (Kazakstan).(Brief Article)(Statistical Data Included)
February 7, 2002... National oil company Kazakoil has launched a road show touring major European financial centers for the placement this year of $100 million worth of eurobonds. The papers will carry annual interest of 8.5%-9.5% and are set to mature in...

Chevron keeps export options open. (CPC Cap).(Brief Article)(Statistical Data Included)
February 7, 2002... A new oil terminal operated by the Caspian Pipeline Consortium (CPC) near the Black Sea port of Novorossiysk has been hit by bad weather, with two vessels unable to load with Tengiz crude over the last two months. The terminal's storage,...

Slavneft vies for direct deal with Slovnaft. (Slovakia).(Slovnaft Bratislava)(Brief Article)(Statistical Data Included)
February 7, 2002... A high-level Slavneft delegation paid a flying visit to Slovakia on Feb. 4 to seek the backing of Slovak President Rudolf Schuster for its efforts to change the patterns of Russian crude supplies to the republic. "We are looking for a term...

Russia: Russian crude exports to Non-CIS markets, January 2000 ('000 metric tons).(Commonwealth of Independent States)(Statistical Data Included)
February 7, 2002... Russia Russian Crude Exports To Non-CIS Markets, January 2002 ('000 metric tons) Novo Tuapse Odessa GRAND TOTAL (*) 3,800 441 960 TOTAL FOR RUSSIA...

Urals prices continue to recover. (Crude Oil).(Brief Article)
February 7, 2002... US trader Sempra has so far gobbled up 18 dated February Brent cargoes out of a possible 25. Chinese refiner Sinochem has successfully taken two cargoes out of the chains and is reportedly looking for two more. It last bid March plus 28[cents],...

Futures firm, differentials soften. (Products).(Russian gas oil)(Brief Article)(Statistical Data Included)
February 7, 2002... Russian gas oil gained on the back of futures, which jumped about $10 per metric ton -- largely because of technical trading. But the ascent physicals were tempered by weakening differentials, as Mediterranean fundamentals move back into...

Marketplace: Spot crude oil prices.(Brief Article)(Statistical Data Included)
February 7, 2002... Marketplace Spot Crude Oil Prices $/barrel f.o.b. terminal, or c.i.f. destination Feb.7'02 Jan.30'02 chg. Dated Brent f.o.b. (38 API) 19.90 18.80 1.10 Russian Urals c.i.f. NWE...

Far East pipeline to open door to Asian markets. (Long Range).(Transneft)(Brief Article)(Statistical Data Included)
February 21, 2002... Semyon Vainshtok, who as president of national pipeline operator Transneft has built a reputation of being able to deliver the goods, faces a new challenge: To conquer the vastness of Russia by building a 4,000 kilometer pipeline to the Far...

Kazak president strengthens grip on oil sector. (Short Fuse).(Nursultan Nazarbaev, orders merger Kazakoil and Transneftegas)(Brief Article)
February 21, 2002... President Nursultan Nazarbaev has sprung a major surprise on the oil community in Kazakstan by ordering the merger of state-owned giants Kazakoil and Transneftegas (TNG) into a new super-holding called Kazmunaigas. To run the new company,...

Lukoil negotiates for Colombian acreage. (Colombian Roast).(Empresa Colombiana de Petroleos S. A. license)(Brief Article)
February 21, 2002... In a further move to establish a foothold in Latin America, Lukoil is negotiating an upstream project in Colombia. According to Lukoil president Vagit Alekperov, the major is negotiating with Colombian state oil company Ecopetrol for an...

Majors seek new refining vistas. (The Seekers).(Russian oil companies, crude export curbs)(Brief Article)(Statistical Data Included)
February 21, 2002... Faced with crude export curbs, Russian oil companies are scouting around for new refining opportunities for their incremental crude. According to Energy Ministry data, Russia plans to increase crude processing in 2002 by 4% to 186 million tons...

Mol to proceed with venture. (Mol Deal).(Yukos agreement)(Brief Article)
February 21, 2002... Yukos has signed an agreement with Hungary's Mol on jointly developing the West Malobalykskoye oil field in Western Siberia under the existing tax regime, rather than under production-sharing agreement (PSA) terms. Under the deal, the two...

Transneft increases crude pipeline rates. (Tariff Hike).(Brief Article)(Statistical Data Included)
February 21, 2002... State pipeline operator Transneft has increased its crude pumping tariffs by an average 13% starting Feb. 21, in line with a recent decision by the Federal Energy Commission (FEK). Under the FEK plan, two new unified rates are being...

Majors demand allocations for CPC link. (Extra Helpings).(Caspian Pipeline Consortium)(Brief Article)
February 21, 2002... Lukoil is demanding extra crude export allocations before it commits any volumes to Transneft's proposed pipeline link from its trunk pipelines to the Caspian Pipeline Consortium (CPC) line. Deputy Energy Minister Vladimir Stanev says he doubts...

Yukos fights to regain Vankorskoye. (Fire Sale).(Brief Article)(Statistical Data Included)
February 21, 2002... Yuri Shafranik, the ousted expresident of the Central Fuel Co., has staged a comeback, by snatching away a stake in the giant Vankorskoye oil field from Yukos. A 17% stake in the 900 million bbl oil and gas deposit in East Siberia was sold to...

Lukoil launches private products line. (Linemen).(Brief Article)(Statistical Data Included)
February 21, 2002... In its bid to establish export routes outside the state-controlled pipelines, Lukoil has launched the first-ever private oil products pipeline in Russia. The Russian oil major says the line will allow it to save up to 60 million rubles ($2...

UES restructuring to generate profit from power. (Transformer).(Unified Energy Systems)(Brief Article)
February 21, 2002... Russia has started a process of reform that will transform its power sector in the coming few years from an inefficient public service into a profit-making industrial sector. The creation of a new commercial market structure will also provide...

Kalmykia to get CPC payback. (Kalming Influence).(Caspian Pipeline Consortium)(Brief Article)
February 21, 2002... Kalmneft, a 3,600 b/d producer in the autonomous Russian republic of Kalmykia, is to get an annual quota to pump 1 million metric tons (20,000 b/d) of crude though the pipeline operated by the Caspian Pipeline Consortium (CPC) from the Kazak...

Lukoil secures export-backed loan. (Long Greens).(Brief Article)(Statistical Data Included)
February 21, 2002... Lukoil has secured a $300 million export-backed credit arranged jointly by ING Bank and Raiffeisen Zentralbank Osterreich. The loan, which has a term of four-and-a-half years, is the largest long-term facility secured by a Russian company since...

Neftebid platform to expand into crude sales. (Electric Avenue).(Brief Article)
February 21, 2002... Neftebid, a Sibneft-owned electronic trading platform dealing primarily in products sales, is set to expand its operations by launching crude sales in March. Initially, crude will be offered either by Sibneft or Slavneft, sources say, and...

Equities.(Brief Article)(Statistical Data Included)
February 21, 2002... Equities Share Prices Closing On February 19, 2002 ($/Share) Closing Change From 12 Months Locally Traded Shares Price Feb.12, 2002 High Low Chernogorneft 3.30 ...

Currencies.(US Dollar exchange rates)(Brief Article)(Statistical Data Included)
February 21, 2002... Currencies US Dollar Exchange Rates Feb.20'02 Feb.13'02 Former Soviet Union Russian ruble 30.89 30.84 Armenian dram 565.84 564.42 Azerbaijani manat 4810 4806...

Refinery management reshuffled. (Republics/East Europe).(Polski Koncern Naftowy Orlen S.A.)(Brief Article)
February 21, 2002... The supervisory board of Poland's biggest refiner PKN Orlen is set for a shakeup at a general shareholders meeting on Feb. 21, following a recent major reshuffle of the company s management. PKN president and CEO Andrzej Modrzejewski was...

Terminals expand around Tallinn. (Republics/East Europe).(Brief Article)
February 21, 2002... Adding to the numerous port expansion projects around Tallinn, Baltic-based trader Tintrade is planning to build a new terminal at Paldiski, 35 km west of the capital. Tintrade has purchased the land in the northern part of Paldiski harbor, the...

Q4 Russian Crude Deliveries to Belarussian Refineries ('000 metric tons).(Brief Article)(Statistical Data Included)
February 21, 2002... Q4 Russian Crude Deliveries To Belarussian Refineries ('000 metric tons) October 2001 Mozyr 249.13 Arigolneftegeologia 9.93 Bitech-Silur 14.95 Investnafta ...

Q4 Russian Crude Deliveries to Ukranian Refineries ('000 metric tons).(Brief Article)(Statistical Data Included)
February 21, 2002... Q4 Russian Crude Deliveries To Ukranian Refineries ('000 metric tons) October 2001 Lisichansk 520.01 Kazakstan 80.01 Nizhnevartovsk Oil and Gas 65.00 Samotlorneftegas 375.00...

Q4 Russian Crude Deliveries to Kazak Refineries ('000 metric tons).(Brief Article)(Statistical Data Included)
February 21, 2002... Q4 Russian Crude Deliveries To Kazak Refineries ('000 metric tons) October 2001 Priirtyshsk (*) 297.64 Lukoil-Western Siberia 50.00 Nizhnevartovsk Oil and Gas 208.27 Samotlorneftegas 39.37 ...

Q4 Crude Deliveries to Russian Refineries ('000 metric tons).(Brief Article)(Statistical Data Included)
February 21, 2002... Q4 Crude Deliveries To Russian Refineries ('000 metric tons) October 2001 Komsomalsk 340.43 Goloil 0.99 Kogalymnefteprogress 49.67 Nizhnevartovsk Oil and Gas ...

Differentials hold, Brent crashes. (Crude Oil).(Brent Petroleum Industries Ltd.)(Brief Article)
February 21, 2002... Crude oil futures and dated Brent both retreated sharply as fears of another squeeze of the benchmark faded. However, some sources insist that supermajor Royal Dutch/Shell's warning that it might have "potential demand for most March Brent...

Screen and futures slide. (Products).(gas oil prices)(Brief Article)(Statistical Data Included)
February 21, 2002... Russian gas oil prices plummeted on generally bearish sentiment, as both futures and differentials slid on the week. Mediterranean gas oil premiums fell hardest of all, due to feeble local demand. There was little trading activity as most...

Marketplace. (Markets).(spot crude oil prices)(Brief Article)(Statistical Data Included)
February 21, 2002... Marketplace Spot Crude Oil Prices $/barrel f.o.b. terminal, or c.i.f. destination Feb.20'02 Feb.13'02 Chg. Dated Brent f.o.b. (38 API) 19.50 21.45 -1.95 Russian Urals...

Kulibaev keeps upper hand in Kazmunaigas merger. (Young Blood).(Brief Article)
February 28, 2002... Foreign investors in Kazakstan are coming to terms with the creation of the new state-run oil giant, Kazmunaigas (KMG), which unites transportation monopoly Transneftegas (TNG) with producer and refiner Kazakoil (NC Feb.21,p1). And their...

Traders take on challenge of supplying Afghanistan. (Jet Set).(Brief Article)
February 28, 2002... The expanding US military presence in Central Asia has triggered a sharp increase in regional demand for jet kerosene needed to refuel planes carrying out frequent sorties into Afghanistan. A growing number of local and international trading...

Investors divided over PSAs. (Stop and Go).(production sharing agreements)(Brief Article)
February 28, 2002... Out of 27 oil and gas deposits eligible for development under production sharing agreements (PSAs), investors eyeing about a quarter of the projects say they are not ready to start negotiations with the Russian government. Oleg Koshikov,...

Yukos takes #1 spot. (Victory Day).(Brief Article)(Statistical Data Included)
February 28, 2002... Yukos has finally overtaken Lukoil as Russia's number one producer. Yukos boosted production by 21,200 b/d in January from the previous month to 1.26 million b/d (5.31 million tons), leaving behind Lukoil, whose output stood at 1.25 million b/d...

Volga producer scoops Iraqi barrels. (A-List).(Brief Article)
February 28, 2002... A new outfit associated with a small producer in the Volga-Urals region, Urals Oil Co., has appeared on the list of Iraqi oil offtakers at the end of January. Ural Investment received an allocation of 1.5 million barrels of Kirkuk crude under...

Audit Chamber calls up Big 5. (Gas Chamber).(Gazprom)(Brief Article)
February 28, 2002... The scandal surrounding the auditing of US Enron's accounts by Arthur Andersen led Russia's Audit Chamber to conduct a special review of the way that Gazprom's financial transactions have been scrutinized by its official auditor,...

Rosneft to sell gas in Europe. (Lookout).(Brief Article)
February 28, 2002... Having resolved the issue of gaining access to Gazprom's gas pipeline system, Rosneft is looking for East European customers for its gas (NC Feb. 4,p 1). German power giant E.On could be one of the candidates. Representatives of E.On...

FEC bids to Regulate CPC. (Autocracy).(Brief Article)
February 28, 2002... In a bid to expand its reach to cover the country's entire pipeline system, the Federal Energy Commission (FEK) is lobbying for the authority to establish tariffs for privately owned pipelines. Alexander Korshunov, head of FEK's department...

Gazprom sells to old crude buyers. (Familiar Faces).(Brief Article)
February 28, 2002... In the new management's drive to introduce greater transparency at Gazprom, the natural gas monopoly has begun selling its crude export volumes in tenders. But so far the winning bidders are mostly the same companies that had bought crude from...

March loading skeds boost Baltic volumes. (March Madness).(Statistical Data Included)
February 28, 2002... Russia is set to boost crude shipments out of the Baltic Sea ports, while keeping an even keel out of the principal Black Sea port of Novorossiysk, in the March loading programs released so far. Novorossiysk is set to load 835,000 b/d (3.53...

Yukos reports strong Q3 Financials. (Third Rome).(Brief Article)(Illustration)(Statistical Data Included)
February 28, 2002... Yukos has released predictably strong financial results for the third quarter of 2001, in accounts prepared according to US GAAP standards. The Russian oil company reported a quarterly net income of $892 million, before adjusting for deferred...

Equities: Share Prices Closing On February 26, 2002 ($/Share).(Brief Article)(Illustration)(Statistical Data Included)
February 28, 2002... Equities Share Prices Closing On February 26, 2002 ($/Share) Change 12 Market Locally Closing From Months Cap Traded Shares Price...

Currencies.(Brief Article)(Illustration)(Statistical Data Included)
February 28, 2002... Currencies US Dollar Exchange Rates Feb.27'02 Feb.20'02 Former Soviet Union Russian ruble 30.89 30.89 Armenian dram 566.96 565.84 Azerbaijani manat 4,812 ...

Exxon poised to quit Garashyzlyk. (Turkmenistan).(Brief Article)
February 28, 2002... Exxon Mobil appears to be on the brink of pulling out of Turkmenistan after abandoning its first exploration well on the Garashyzlyk concession, industry sources say. Local sources say that the move would not surprise the Turkmen...

Vitol affiliate takes control of Gobustan field. (Azerbaijan).(Rosco picks up stake in Commonwealth Gobustan)(Brief Article)
February 28, 2002... Rosco, a Swiss-registered affiliate of trading company Vitol, has taken control of Commonwealth Gobustan, the operator of the onshore Southwest Gobustan oil field. Rosco is providing a $20 million non-recourse loan to make a belated start...

Newcomer takes over Caspian Transco operations. (Azerbaijan).(Delta Trans acquires assets)(Brief Article)
February 28, 2002... Delta Trans, a little-known trading company, has with effect from Feb. 1 taken over the assets of Caspian Transco, once a key rail shipper of Caspian crude across Azerbaijan and Georgia to the Black Sea, and the owner of the Dubendi oil...

Russians eye privatizations. (Belarus).(Brief Article)
February 28, 2002... Russian companies are positioning themselves for a battle over assets in neighboring Belarus, where the government plans to privatize six enterprises, including the Novopolotsk refinery (Naftan), fertilizer producer Azot, synthetic fiber maker...

Kazak Refinery Activity, January 2002 ('000 metric tons or '000 b/d).(Brief Article)(Illustration)(Statistical Data Included)
February 28, 2002... Kazak Refinery Activity, January 2002 ('000 metric tons or '000 b/d) Processing January December Change b/d tons b/d tons b/d...

Shah Deniz partners ink transport accords. (Azerbaijan).(Brief Article)
February 28, 2002... The Shah Deniz project remains on track to deliver its first gas to Georgia and Turkey in October 2005 after the signing of a new clutch of agreements by the BP-led consortium and the Azeri government. The agreements included the host...

Veba diversifies German supply chains. (Variety Show).(Brief Article)
February 28, 2002... Sidanco looks set to join other Russian producers in signing a direct contract with Veba Oil to deliver crude to the lucrative German market. BP, which manages Sidanco, also has a newly acquired controlling stake in Veba. In January Veba...

Tatneft makes Polish breakthrough. (Poland First).(Brief Article)
February 28, 2002... Tatneft is set to become one of the largest oil exporters to Poland after signing a framework contract with Polish state-owned PKN Orlen for the delivery of 10 million metric tons (200,000 b/d) of crude over a 12-month period. Sources...

Russian Tariffs For Transshipment and Loading of Crude Oil with Effect from February 21, 2002.(Statistical Data Included)
February 28, 2002... Russian Tariffs for Transshipment And Loading Of Crude Oil With Effect From February 21, 2002. Domestic Tariff (*) ...

Iraq war rumors underpin futures. (Crude Oil).(Brief Article)(Statistical Data Included)
February 28, 2002... Crude oil futures eased through most of the reporting period, but then rallied sharply on flimsy -- and twice officially denied -- rumors that US Special Forces had infiltrated Iraq in preparation for further military action. Dated Brent was...

Declining differentials, rising futures. (Products).(Brief Article)(Statistical Data Included)
February 28, 2002... A rally in futures pulled up Russian gas oil prices, although this was countered by a continuing decline in differentials for spot cargoes. Straight run fuel oil got a boost on the back of deteriorating crude margins. Baltic Sea gas oil...

Marketplace.(oil prices)(Brief Article)(Illustration)(Statistical Data Included)
February 28, 2002... Marketplace Spot Crude Oil Prices $/barrel f.o.b.terminal, or c.i.f. destination Feb.27'02 Feb.20'02 Chg. Dated Brent f.o.b. (38 API) 20.60 19.50 1.10...