NEFTE Compass articles from January 2004

NEFTE Compass archives from January 2004

Pied Piper: Moscow Locks Horns With Baku Over Crude Transit.
January 6, 2004... Russia is locking horns in a pipeline dispute with Azerbaijan as it struggles to maintain its role as a key transit corridor for Caspian crude to world markets. Azeri state oil company Socar is refusing to sign a pipeline transit agreement...

Young Gun: New Georgian President Faces Major Challenges.
January 6, 2004... A US-educated lawyer, Mikhail Saakashvili, has won an overwhelming victory in presidential elections in Georgia, six weeks after he spearheaded a bloodless revolution that swept Eduard Shevardnadze from power in the former Soviet republic. ...

Even Keel: Growth Slows For Seaborne Products Exports.
January 6, 2004... Export infrastructure constraints and strong internal demand helped keep a lid on seaborne products exports from the former Soviet Union in 2003. Despite another year of strong crude production growth and increased refinery runs, product...

Chechen Appeal: Chechnya Wants Rosneft To Hand Back Oil Industry.(Brief Article)
January 6, 2004... The president of the Russian republic of Chechnya, Akhmad Kadyrov, has appealed to the federal government to transfer control of the republic's oil industry to the local administration to help rebuild the war-ravaged region. Under the...

Moving Number: Ministry Sees Oil Output Growing By 2.2%.(Brief Article)
January 6, 2004... Russia's oil and gas production in 2004 is set to reach 432 million metric tons (8.65 million b/d) and 624.1 Bcm, respectively, according to a forecast by the Energy Ministry. The ministry's preliminary data shows that production in 2003...

Primorsk Prime: Transneft Hikes Crude Pumping Tariffs.(Brief Article)
January 6, 2004... With Moscow's blessing, Russian pipeline operator Transneft raised its crude pumping fees by an average of 8.62% from Jan. 1, to help fund pipeline its capacity expansion projects. Transneft has increased crude pumping rates by 11.6% via...

Fat Budget: Shell Draws Up $3 Billion Spending Program.(Royal Dutch-Shell Group of Cos.)(Brief Article)
January 6, 2004... Royal Dutch/Shell said investments in its projects in Russia could reach $3 billion in 2004. Some $2.8 billion is to be plowed into the Sakhalin-2 development in the Russian Pacific shelf under the $10 billion second phase of the project...

Targets: Gutseriev Lists Acquisition Targets.
January 6, 2004... Russian oil company Russneft, which is headed by Slavneft's ex-president Mikhail Gutseriev, is pressing ahead with an ambitious plan to turn itself into a vertically integrated oil holding company. The company's shareholders have approved...

Iron Man: Bashkir President To Maintain Oil Stranglehold.(Brief Article)
January 6, 2004... The oil assets of Bashkortostan are likely to stay in the hands of President Murtaza Rakhimov and his family after he won a third term in power in the Russian autonomous republic in elections late last month. Rakhimov strolled to victory...

In The Hunt: Rosneft Seeks Further Acquisitions.(Brief Article)
January 6, 2004... Rosneft will consider later this year whether to buy ConocoPhillips out of the 28,000 b/d Polar Lights production joint venture in the northern Timan-Pechora oil province, in line with the Russian state-owned company's strategy of consolidating...

Kazakhstan: Sinopec Expands Its Horizon With Big Sky Deal.(Big Sky Energy )(Brief Article)
January 6, 2004... China's Sinopec is taking the back door into Kazakhstan, acquiring exploration and development rights to three blocks through a joint venture with the little-known Big Sky Energy Kazakhstan. Sinopec's upstream operating subsidiary Shengli...

Q1 Deliveries: Russia To Boost Oil Supplies To Neighbors.(Brief Article)
January 6, 2004... Russia and Ukraine have signed a 2004 crude supply and transit protocol, under which Russian oil shipments to Ukrainian refineries would grow by more than 22%, Ukraine's Energy and Fuel Minister Sergei Yermilov says. Deliveries to the...

Hungary: Mol Reorganizes Gas Operation On EU Lines.(Brief Article)
January 6, 2004... Hungarian oil and gas firm Mol has split its gas operation into separate storage, wholesale, and transmission and distribution businesses, bringing it in line with relevant European Union principles and opening the way to the sale of stakes in...

Lean And Mean: Russian Oil Equities Face Leaner 2004.
January 6, 2004... It will be difficult for Russian oil company stocks in 2004 to match the solid gains made last year as robust production and export growth and strong world oil prices drove up earnings and foreign and domestic investors crowded into the market....

Equities And Currencies.
January 6, 2004... Share Prices Closing On January 5, 2004

Crude Oil: Crude Buoyed By Futures Strength.
January 6, 2004... Dated Brent added another dollar to already strong pre-holiday levels, buoyed by gains in the futures markets, which in turn found support from cold weather forecasts and technical trading. February Brent futures closed the year at $30.17...

Products: Speculative Funds Push Cash Values Higher.(Brief Article)
January 6, 2004... Flat gas oil prices have rallied with buying by funds pushing the market higher despite bearish fundamentals in Northwest Europe. The spot market for fuel oil is thin, with most export barrels going into term contracts. Gas oil exports...

Soft Touch: Russia Turns On The Charm In Kazakhstan.
January 14, 2004... As the US remains bogged down in the troubled Middle East, Russia has started a charm offensive in Central Asia and the Caucasus in the hope of consolidating its role as an export route for the region's rising oil production. Insiders say...

Shelf Life: BP Considers Digging Deeper Into Sakhalin.(British Petroleum Company PLC)
January 14, 2004... BP could find its investment tally rising in Russia after Rosneft asked the UK supermajor to finance fully their shared Sakhalin-5 development on the Pacific shelf. BP says it is in negotiations over "carrying" Rosneft financially through...

Counterstrike: Oil Companies Stamp Their Mark On Export Policy.
January 14, 2004... Russia's oil majors are starting to make their mark on the country's crude export policy. Inspired by the Energy Ministry, oil producers have proposed a new procedure to the governmental commission on access to export pipelines for introducing...

Tatarturk: Tatneft Comes Up Trumps In Turkish Sell-Off.(Tupras)(Brief Article)
January 14, 2004... Tatneft has scored a victory in its campaign to expand its tentacles into the downstream overseas. The Tatar company has submitted a winning bid for a 65.76% stake in Turkish refiner Tupras. Tatneft and local partner Zorlu Holding on Jan....

Dutiful: Government To Hike Crude Export Tariffs.(Brief Article)
January 14, 2004... Inspired by high world oil prices, the Russian government commission for protective measures in trade has recommended raising the export duty on crude to $33.90/metric ton ($4.62/bbl) starting Feb. 1 from $31.20 ($4.25/bbl) at present. ...

First Shot: Court Hearings Start Over Odessa Dispute.
January 14, 2004... Swiss-registered Medbroking has started a new wave of agitation in its campaign to regain control of the Black Sea port of Odessa. Arbitration proceedings have kicked off in Geneva. The Swiss Chamber of Commerce and Industry has set up a...

Reform Retreat: Gas Sector Reform Called Into Question.
January 14, 2004... Moscow is continuing to give out positive signals on pipeline access, despite further evidence of a deep-freeze on other gas-sector reform in light of Russian elections later this year and the country's standoff with the European Union on terms...

Baltic Avenue: Exporters Turn Rail Volumes To Baltics.(petroleum)(Brief Article)
January 14, 2004... Stymied by the export pipeline bottlenecks, Russian oil companies are cranking up rail shipments of crude to export outlets. Exporters boosted rail shipments by 129,000 metric tons (31,000 b/d) in December, diverting a greater share of the...

Growing Aims: Lukoil Shoots for 4% Production Growth.(sets target)
January 14, 2004... Lukoil has set itself a target of 4% growth in its crude production for 2004, after ratcheting output up 2% last year to 1.64 million b/d (81.5 million metric tons). After Lukoil's board of directors met on Jan. 13 to discuss the company's...

Full Ahead: Gas Deliveries To Hungary Break Through 10 Bcm.(Brief Article)
January 14, 2004... Russian gas deliveries to Hungary, the biggest importer of Russian gas in Eastern Europe, broke through the 10 Bcm/yr barrier for the first time last year. According to Gazprom, supplies to Hungary had reached 10 Bcm by late December. ...

Stake Out: Chinese Buy Into Russian Upstream.(Stimul)(Brief Article)
January 14, 2004... Two years after being frozen out of the privatization of Slavneft, state-owned China National Petroleum Corp. (CNPC) is moving into Russia's upstream, winning a tender to buy a 62% stake in Orenburg region producer Stimul. The price of the...

Nabbed: US Detains Executive In Yukos Case.(Brief Article)
January 14, 2004... The Kremlin's onslaught against Russian oil giant Yukos has taken another turn, with the detention of another of former CEO Mikhail Khodorkovsky's associates at the end of last week. Former Menatep Vice President Alexander Konanykhin was...

Call To Arms: Crude Potential To Put Caspian On The Map.
January 14, 2004... When the president of Kazakhstan, Nursultan Nazarbaev, called recently for Caspian oil producers to create an organization to compete with Opec, he was signaling the enormous impact that the region could have on the world energy map. But...

Kazakhstan: New Year Rings The Changes.
January 14, 2004... The New Year ushered in several changes in the hierarchy of Kazakhstan's state oil industry. Bakhytkozha Izmukhambetov has been appointed first deputy minister of energy and mineral resources. He was previously managing director for asset...

Czech Republic: Seven Sign Up For Unipetrol Sell-Off.(Brief Article)
January 14, 2004... Czech privatization authorities have received seven preliminary bids for the sale of the state's 63% holding in downstream company Unipetrol. Hungary's Mol, Poland's PKN Orlen, Kazakhstan's state-owned Kazmunaigas, Royal Dutch/Shell and...

Georgia: BP Gets Assurances On BTC Pipeline.(Baku-Tbilisi-Ceyhan)(British Petroleum Company PLC)
January 14, 2004... Georgia's president-elect, Mikhail Saakashvili, has confirmed his commitment to the Baku-Tbilisi-Ceyhan (BTC) pipeline in a "positive" meeting with BP executives, the UK major says. The company, which heads a consortium building the pipeline,...

Belarus: Itera Reinvents Itself As Power Exporter.(Itera (Russia))(Gazprom Russian Joint Stock Co.)(Brief Article)
January 14, 2004... Gas trader and producer Itera is seeking new ways to diversify its business, as Russian gas monopoly Gazprom closes more doors on Itera's traditional CIS markets. Following talks last month between Belarus President Alexander Lukashenko...

Lithuania: Gazprom Gets The Green Light On Sell-Off.(Gazprom Russian Joint Stock Co.)(Brief Article)
January 14, 2004... Lithuania's government has approved a draft agreement with Russian gas monopoly Gazprom on the second stage privatization of state gas company Lietuvos Dujos (LD). Vilnius has agreed to sell Gazprom a 34% stake in the gas utility for 100...

Kazakhstan: PetroKazakhstan Reviews Penalty Ruling.(PetroKazakhstan Inc.)(Brief Article)
January 14, 2004... Canada's PetroKazakhstan says that its lawyers are reviewing a ruling by a court in Kazakhstan that it should pay a fine of US$1.1 million for violating the anti-monopoly law in the former Soviet republic. The fine on the company's...

Kazakhstan: Oil Industry Enjoys Bumper 2003.(Brief Article)
January 14, 2004... Kazakhstan's oil and gas industry enjoyed a bumper 2003, with oil production breaking through the 1 million b/d mark for the first time. Crude oil and condensate production rose 8.6% to 1.03 million b/d from 948,300 b/d in 2002, with most...

Trouble Ahead: Strong Ruble To Cut Oil Profits.(rise in currency)(Brief Article)
January 14, 2004... The strengthening of the ruble against the dollar is starting to eat into the profits of Russian oil companies, with Lukoil blaming the rise of the Russian currency for offsetting some of its recent gains (see below). Dollar-based exports...

Going Up: Lukoil Sees Profits Jump By 38%.(Brief Article)
January 14, 2004... Lukoil released its third-quarter results under US GAAP accounting standards, which showed net profits jumping to $701 million, up 38% year-on-year and well above analysts' expectations. The increased profits resulted from higher crude oil...

Equities And Currencies.
January 14, 2004... Share Prices Closing On January 13, 2004

Crude Oil: Futures Still Biased To The Upside.
January 14, 2004... Brent has traded an unsettled $1.87, but with the underlying bias still to the upside. Except for a modest dip during the Christmas holidays, front-month Brent futures have held above $30/bbl since Dec. 12. Technical trading and a surprise...

Products: Gas Oil Weakens In NWE, Firms In The Med.(North West Europe)(Brief Article)
January 14, 2004... Product prices dropped across the board following crude downward in what traders called profit-taking ahead of the release of US stock figures. An arbitrage window for gas oil from Ventspils to the US slammed shut after dealers booked...

Breakout: TNK-BP Targets New Baltic Export Outlet.
January 19, 2004... Russia is struggling to divert its crude away from the Black Sea ports to alternative export outlets as its rising oil output clashes with mounting congestion in the Turkish straits. Turkey's tighter restrictions on tanker transit through...

In Credit: Final Piece Of BTC Financing Falls Into Place.(Baku-Tbilisi-Ceyhan pipeline)
January 19, 2004... The final piece of financing for the Baku-Tbilisi-Ceyhan (BTC) oil pipeline will fall into place next week when a group of 15 commercial banks gathers in London to sign a $1 billion loan for the ground-breaking project. Led by BP, the...

Tailback: Bosporus Delays Cut Black Sea Loadings.(Brief Article)
January 19, 2004... Congestion in Turkey's Bosporus Strait is forcing Black Sea ports to curtail their shipments of Russian oil. Novorossiysk is scaling back loadings by around 200,000 tons (47,000 b/d) in its schedule for February, with crude exports for the...

Rail Gang: Russia Under Pressure To Boost Rail Capacity.
January 19, 2004... Russia's rising crude output is bumping up against bottlenecks in the export pipeline system, putting pressure on exporters to boost capacity of the railways. TNK-BP, however, has no plans to purchase its own rail fleet, says vice...

Gas Bubble: Gas Output Climbs In 2003.(Brief Article)
January 19, 2004... Russian gas production climbed by 3.5% in 2003 from the previous year to 616.454 Bcm. Natural gas monopoly Gazprom raised output to 540.17 Bcm of gas, successfully meeting the government's requirement to stabilize production in 2003 at...

Angel Eyes: Rosneft Kicks Off Exports From Northern Outlet.(Brief Article)
January 19, 2004... Rosneft's new oil transshipment terminal at the White Sea port of Arkhangelsk has already loaded four tankers, which set sail for world markets. The tankers sailed out from Dec. 26 to Jan. 18, each carrying about 15,000 metric tons...

Tatar Invasion: Tatneft Targets Refiners In Expansion Drive.
January 19, 2004... Russia's Tatneft appears to be on an acquisition drive to gain downstream outlets for its crude oil production, having tendered for the Czech Republic's Unipetrol and submitted the winning bid in the privatization of Turkey's Tupras. ...

Persian Silk: Alekperov Plans To Visit Iraq.(Brief Article)
January 19, 2004... Lukoil president Vagit Alekperov plans to visit Baghdad next month to discuss the fate of its West Qurna contract. The exact date of the trip is not known. Alekperov revealed his intention to go to Iraq during a recent visit to Kazakhstan,...

High Five: TNK-BP Reveals Five-Year Strategy.
January 19, 2004... TNK-BP's board of directors has set out over $1 billion per year in capital expenditure until 2005, in a strategic development plan approved last month. Capital spending will then start to rise as the company starts investing in greenfield...

Startup: Pipelines Get Under Way On Sakhalin.(Brief Article)
January 19, 2004... Sakhalin Energy, the operator of the Royal Dutch/Shell-led Sakhalin-2 project in the Russian Pacific shelf, is to kick off construction of two 800-kilometer pipelines by holding a pipeline welding ceremony on Jan. 23. The pipelines will...

Lost Cause: Yukos Pressures Sibneft Over Ill-Fated Merger.(Brief Article)
January 19, 2004... Sibneft has agreed to call an extraordinary shareholder meeting for Mar. 28 at the request of Yukos. Yukos formally requested the meeting in a bid to strengthen its hand in negotiations to untangle the two companies' ill-fated merger. On...

Plant Life: Lukoil Seeks Partner For New Moscow Plant.(Brief Article)
January 19, 2004... Lukoil may seek out a partner for its project to build a new refinery in the Moscow region, says company vice president Leonid Fedun. The company will complete a feasibility study for the project this year, but Fedun noted the project was...

Kazakhstan: Kazakhs Grow Impatient With Foreign Contractors.
January 19, 2004... Kazakhstan is growing impatient with the pace of progress on two of its biggest projects, the giant Kashagan field operated by Eni, and the Karachaganak gas/condensate field managed jointly by Eni and BG. Prime Minister Daniyal Akhmetov is...

Azerbaijan: Israeli Trader Bags Socar Volumes.(Brief Article)
January 19, 2004... Despite some ongoing arguments between Russia and Azerbaijan about making changes to the transit agreement that allows crude to be shipped from the Azeri capital of Baku to Novorossiysk, both sides are continuing to ship oil to the Black Sea...

Kazakhstan: Lukoil To Set Up Two Companies For Shelf Projects.
January 19, 2004... Russia's Lukoil Overseas and Kazmunaiteniz, the offshore operating arm of state-owned Kazmunaigas, will set up separate operational companies to develop two blocks in the Kazakh sector of the Caspian shelf, under the recent agreement signed by...

Turkmenistan: Russia Starts Gas Imports Under 25-Year Accord.(Brief Article)
January 19, 2004... Turkmenistan has started exporting its gas to Russia under a 25-year contract signed in 2003 between Gazprom's international marketing arm Gazexport and state Turkmengas to deliver plateau volumes of up to 80 billion cubic meters per year by...

Lithuania: Mazeikiu Wants To Expand Into Polish Market.(Brief Article)
January 19, 2004... Russian oil giant Yukos is expanding further into Eastern Europe's downstream markets, with its Lithuanian refining affiliate Mazeikiu Nafta (MN) announcing plans to start marketing oil products in Poland. MN wants to sell oil products...

Revamp Recovery: Slavneft Signs Deal To Recoup Refinery Outlay.
January 19, 2004... Slavneft, which is co-owned by TNK-BP and Sibneft, has signed an agreement with the Belarus government on repaying the company's investment into the upgrade of the Mozyr refinery. The $108.5 million reconstruction program, which included...

Equities And Currencies.
January 19, 2004... Share Prices Closing On January 20, 2004

Crude Oil: Futures Buoyant But Sours Wilting.
January 19, 2004... Brent futures have gyrated in a $2.26 range over the past week around the expiry of the February contract, but the price has mostly managed to stay north of $30 while hitting a high of $31.71 for good measure. The main price props have...

Products: High Freight, Tight Shipping Slow Trade.(Brief Article)
January 19, 2004... Soaring freight and a lack of tankers have slowed gas oil trade in Northwest Europe. Bids and offers are plentiful, but few deals are being concluded due to the lack of vessels. Shippers blame the shortage on a buoyant fuel oil market at the...

Double Whammy: Lukoil Flies The Flag In Saudi Arabia And The US.
January 27, 2004... Lukoil has had a busy week building up its international assets and confirming its role as Russia's standard-bearer on the world energy stage. First, the Russian major won the right to explore and produce gas in Saudi Arabia, and followed...

Hot And Cold: Russia Sends Mixed Signals On US Energy Dialogue.(petroleum trade)
January 27, 2004... US Secretary of State Colin Powell reaffirmed the friendly ties between the US and Russia during a visit to Moscow this week, though Russia is sending mixed signals about the future of the US-Russia energy dialogue. Russia's drive to...

Above Suspicion: TNK-BP Considers Reshuffle.(restructuring)(Brief Article)
January 27, 2004... TNK-BP says it may change its corporate structure in a move seen as an attempt to avoid criticism from the Russian tax authorities. Executive director German Khan said this week that the four companies that currently comprise TNK-BP -- TNK,...

Efficiency: Sibneft Predicts Strong Growth.(Sibneft Oil)(Brief Article)
January 27, 2004... Sibneft expects new drilling and increased operating efficiency to boost its crude production by 20% in 2004. Sibneft said the company produced 31.45 million metric tons (632,000 b/d) in 2003, including 47.4 million tons output of its...

Bullwhip: State Harassment Against Yukos Escalates.(YUKOS Oil Co.)
January 27, 2004... The problems keep mounting for Yukos, leaving industry analysts with little doubt that the company erstwhile viewed as one of the best in Russia will ultimately fall into the hands of other shareholders. Russian prosecutors have asked...

Friends: Norwegian Energy Minister Visits Moscow.(liquefied natural gas exports)(Brief Article)
January 27, 2004... Norwegian Energy Minister Einar Steensnaes has reaffirmed the interest of Statoil and Norsk Hydro in the huge Shtokman development for LNG exports from an offshore field in the Barents Sea (NC Nov.6,p5). The Norwegian minister met with his...

Three Firms: Three Majors See Export Quotas Slashed.(petroleum)
January 27, 2004... The government will reshuffle some 1.9 million metric tons (153,000 b/d) of crude export pipeline allocations among oil producers in the first quarter. Changes to the first-quarter export schedule were discussed at the Jan. 26 meeting of...

Wishful Thinking: Planned Export Boost Looks Like Wishful Thinking.(petroleum)
January 27, 2004... Russia is planning a robust 96,000 barrel per day increase in its seaborne crude exports in the short month of February, to 2.224 million b/d (8.800 million tons) from 2.128 million b/d (9 million tons) in January. But that may be wishful...

Russian Crude Loading Programs For February 2004.
January 27, 2004... Novorossiysk Crude Loading Program For February 2004

Kazakhstan: Texan Oilman Seeks Vengeance Against Ramco.(Ramco Energy PLC)(Van Dyke)
January 27, 2004... Ramco Energy, the Scottish independent that was the first Western company to tap the oil riches of the Caspian Sea, could be made bankrupt if Texan oilman Scott Van Dyke succeeds in collecting damages awarded by a Houston court in a dispute...

Black Sea: BP To Spud First Black Sea Well Off Turkey.(British Petroleum Company PLC)(TPAO)(Brief Article)
January 27, 2004... BP and Turkey's TPAO plan to drill the first well in December this year on their Eastern Black Sea Block offshore Turkey's northeastern coast. Osman Saim Dinc, chairman and president of TPAO, the state's upstream oil company, says the two...

Kazakhstan: Local Producers Emerge To Rival Foreign Firms.(Embamunaigas merges with Uzenmunaigas)(Brief Article)
January 27, 2004... State-owned oil and gas company Kazmunaigas plans to merge two of its largest production subsidiaries to create a homegrown company that could rival large foreign operators. The merger of Embamunaigas and Uzenmunaigas into a company with a...

Turkmenistan: Dragon Awards Seismic Contract To PetroAlliance.(Dragon Oil PLC)(Brief Article)
January 27, 2004... Irish-registered Dragon Oil has awarded Russia's PetroAlliance a contract to carry out a 3-D seismic survey in the Cheleken Block, after securing funding from a successful $18 million equity placing in December. PetroAlliance will carry...

Kazakhstan: Soros Sets Up Oil Revenue Watchdog.(Soros Foundation)(Brief Article)
January 27, 2004... The Soros Foundation is spearheading the creation next month of a coalition of organizations dedicated to monitoring oil export revenues in Kazakhstan to ensure they are used for the benefit of society at large and are not squandered through...

Romania: Lukoil Looks For Partners In Petrom Auction.(Brief Article)
January 27, 2004... Russia's Lukoil has entered the race for the privatization of Petrom by negotiating to team up with companies from the auction's shortlist. Lukoil could potentially partner US Occidental, Austria's OMV, Hungary's Mol, Poland's PKN Orlen,...

Bond Issue: Gazprom Launches Ruble Bonds.(Gazprom Russian Joint Stock Co.)(Brief Article)
January 27, 2004... Russian gas monopoly Gazprom has reported a net profit of 126.44 billion rubles ($4.1 billion) in the first nine months of 2003, in accounts prepared according to International Accounting Standards. This compares with 16.64 billion rubles...

Board Games: Gazprom Board Approves 2004 Budget.(Gazprom Russian Joint Stock Co.)(Brief Article)
January 27, 2004... Gazprom's board of directors has approved a financial plan for 2004, cutting investments to 212.3 billion rubles ($7.45 billion) from an earlier planned 232.3 billion rubles ($7.8 billion). Capital spending in 2004 will total 192.3 billion...

Equities And Currencies.
January 27, 2004... Share Prices Closing On January 27, 2004

Crude Oil: Urals Weakens Further.(Urals Oil Co. prices and exports)
January 27, 2004... For months traders have cited low US stocks and -- more recently -- cold weather as the principal oil price supports. But barely had the US Department of Energy released another set of bullish inventory figures before futures prices nose-dived...

Products: Increased Supplies Pressure NWE Gas Oil.(prices influence)(Northwest Europe)(Brief Article)
January 27, 2004... Falling futures have taken a bite out of gas oil prices. Differentials remain strong in the Mediterranean, but have slipped in Northwest Europe. Russia exported 653,000 metric tons of gas oil from the Baltic Sea ports last week. Ventspils...