NEFTE Compass articles from May 2002

NEFTE Compass archives from May 2002

Russia makes waves over Caspian oil. (Troubled Waters).(Brief Article)
May 2, 2002... Gunboat diplomacy is back in fashion in the Caspian as Russian President Vladimir Putin trumpeted Russia's plans to step up its military presence in the region. Russia's naval fleet based in Astrakhan will this summer hold its first...

Lukoil barges back into Polish privatization. (Pole Vault).(Brief Article)
May 2, 2002... Despite being rebuffed by Warsaw, Lukoil is refusing to give up its attempts to enter the Polish market. The Russian oil giant has lent its considerable weight to a bid by UK-based Rotch Energy for a 75% stake in the second biggest Polish...

Jackpot: Fuel oil exports set to rise on summer tide. (Russia).(Petersburg Oil Terminal)(Brief Article)
May 2, 2002... Fuel oil exports from Baltic Sea ports are on course to hit record levels after the Petersburg Oil Terminal (POT) announced that it aims to complete an expansion project this summer to boost its export capacity by around 40%. POT says it...

My way: Moscow keeps the brakes on May crude export loadings. (Russia).(Brief Article)
May 2, 2002... Russian seaborne loading schedules are set to drop by 9% in May to 1.6 million barrels per day (6.778 million metric tons) compared with 1.76 million b/d penciled into loading programs for April. The decline offsets a 5% increase in crude...

Growth spurt: BP expands trading presence. (Russia).(Brief Article)
May 2, 2002... BP is expanding its trading presence in the Russian oil market. The UK major has expressed an interest in lifting gas oil and gasoline from state Rosneft's 78,000 b/d Tuapse refinery on the Black Sea. BP already has one of the largest...

Novorossiysk Crude Loading Program for May 2002.(Illustration)
May 2, 2002... Novorossiysk Crude Loading Program For May 2002 Berth 1 Position Date Exporter Supplier 1. 01-02 Bashneft Bashneft 2. 02-03 Lukoil ...

Ventspils Crude Loading Program For May 2002.(Illustration)
May 2, 2002... Ventspils Crude Loading Program For May 2002 Volume '000 Position Date Exporter Supplier metric tons 1. 04-05 Sidanco Sidanco ...

Odessa Crude Loading Program For May 2002.(Brief Article)
May 2, 2002... Odessa Crude Loading Program For May 2002 Volume '000 Position Date Exporter Supplier metric tons 1. 01-02 Lukoil Lukoil 63 ...

Primorsk Crude Loading Program For May 2002.(Brief Article)
May 2, 2002... Primorsk Crude Loading Program For May 2002 Volume '000 Position Date Exporter Supplier metirc tons 1. 03-04 Yukos Yukos 100...

Butinge Crude Loading Program For May 2002.
May 2, 2002... Butinge Crude Loading Program For May 2002 Volume Position Date Exporter Supplier '000 metric tons 1. 06-07 Yukos Yukos 100 May Total 100

New ideas: Service company offers risk-rewards system. (Russia).(oil field service company PetroAlliance)(Brief Article)(Statistical Data Included)
May 2, 2002... Facing growing competition, Russia's biggest domestic oil field service company PetroAlliance is fighting to increase its market share by offering an innovative scheme to assume a portion of the risk of its clients' projects. PetroAlliance...

A-List: Gazprom gets another listing. (Russia).(Brief Article)
May 2, 2002... Russian gas monopoly Gazprom says its shares will be listed on another European exchange. The company's level-1 American depository receipts (ADRs) will be traded on Nx.plus, a trading platform owned by Deutsche Borse and Wiener Borse. Nx.plus...

Two for one: ABB clinches Sakhalin, Azeri contracts.
May 2, 2002... International engineering giant ABB Lummus Global has won contracts for the first phase of development of the Exxon Mobil-led Sakhalin-1 project in Russia's Far East and for the modernization of two oil refineries in Azerbaijan. Under a...

Bean counters: Gazprom and Transneft seek auditors. (Finance).(Brief Article)
May 2, 2002... Two of Russia's greatest state-run monoliths of resistance to change, natural gas monopoly Gazprom and pipeline operator Transneft, have finally launched their first-ever tenders to choose international auditors. Each company is undertaking the...

Paperbacks: TNK to place first-ever eurobonds. (Finance).(Brief Article)
May 2, 2002... Following suit of other oil majors, Tyumen Oil Co. (TNK) is on the verge of placing its first-ever eurobonds. The potential issue has received stable rating from the leading rating agencies. Moody's had assigned the company a B3 issuer rating,...

Equities.(share prices for Russian energy firms, April 30, 2002)(Brief Article)(Illustration)(Statistical Data Included)
May 2, 2002... Equities Share Prices Closing On April 30, 2002 ($/Share) Closing Change From 12 Months Locally Traded Shares Price Apr. 23, 2002 High Low Bashneft 2.96 ...

Currencies.(Eastern Europe and Former Soviet Union currency exchange rates versus U.S. dollar)(Brief Article)(Illustration)(Statistical Data Included)
May 2, 2002... Currencies US Dollar Exchange Rates Former Soviet Union May 1'02 Apr.24'02 Russian ruble 31.19 31.14 Armenian dram 579.34 578.97 Azerbaijani manat 4,843 4,843...

Serbia: Four traders share the spoils of supply tender. (Republics/ East Europe).(Naftna Industrija Srbije awards contracts for crude petroleum supply)(Brief Article)(Statistical Data Included)
May 2, 2002... State-owned oil group Naftna Industrija Srbije (NIS) has chosen four trading companies -- Glencore, J & S Trading, MOILCoal Trading Co., and lpco Trading -- to supply 2.4 million metric tons of crude over the next 12 months to its two...

Hold Up: Lukoil faces Greek backlash. (Republics/ East Europe).(Hellenic Petroleum workers threaten strike if Greek government sells stake in firm to Lukoil/Latsis venture)(Brief Article)
May 2, 2002... Lukoil is facing fierce labor resistance to its expansion plans in Greece. Workers at Hellenic Petroleum said they would go on a 10-day strike to protest against the government's intention to sell a 23% stake in the Greek refiner to an...

Lithuania: German duo to wrap up gas sell-off. (Republics/ East Europe).(Lietuvos Dujos being privatized; 34% share being sold to E.On and Ruhrgas, German utility companies)(Brief Article)(Statistical Data Included)
May 2, 2002... Lithuania is pressing ahead with the privatization of local gas utility Lietuvos Dujos. In the first stage of the sell-off, the State Privatization Commission has approved agreements regarding the sale of a 34% stake to a Western strategic...

Kazakstan: New commission to oversee upstream bids. (Republics/ East Europe).(by foreign companies)(Brief Article)
May 2, 2002... Foreign companies hoping to grab a slice of Kazakstan's remaining oil and gas riches will have to deal with a new commission set up this week by Prime Minister Imangali Tasmagambetov to examine all bids for projects involving the use of the...

Stock Levels In Russian Refineries, January - March 2002 ('000 metric tons).(Illustration)(Statistical Data Included)
May 2, 2002... Russia Stock Levels In Russian Refineries, January - March 2002 ('000 metric tons) Crude Oil January February March Bashneftekhim 24.8 9.0 2.2 Novo-Ufa ...

Russian refinery activity, March 2002.(Illustration)(Statistical Data Included)
May 2, 2002... Russian Refinery Activity, March 2002 Processing Year To Date March ('000 b/d) ('000 tons) ('000 b/d) ('000 tons) ...

Refinery gate product prices (rubles/metric ton).(Russia)(Brief Article)(Illustration)(Statistical Data Included)
May 2, 2002... Refinery Gate Product Prices (rubles/metric ton) A-76/80 A-92/93 unleaded unleaded Winter ...

Crude oil: Futures unsettled by Mideast tension. (Markets).(European markets)(Brief Article)(Statistical Data Included)
May 2, 2002... Once again futures traders marched Brent up the hill and then down again. Having traded in a $1.35 range, June Brent futures ended the week at around $26, up a modest 25cents on the seven-day reporting period. The two principal factors in the...

Products: Screen gains support cash values. (Markets).(Brief Article)
May 2, 2002... Gains on the screen pulled up outright prices of Russian gas oil. Differentials remained little changed on the week -- a little stronger in Northwest Europe and a little weaker in the Mediterranean. The market is set for a two-week dead period...

Marketplace.(natural gas and petroleum industry)(Brief Article)(Statistical Data Included)
May 2, 2002... Marketplace Spot Crude Oil Prices $/barrel f.o.b. terminal, or c.i.f. destination May 1'02 Apr. 24'02 Chg. Dated Brent f.o.b. (38 API) 26.65 26.15 0.50 Russian Urals c.i.f....

Russia sets terms for partnership with the West. (Partners).(energy policy)(Brief Article)
May 9, 2002... Energy Minister Igor Yusufov set out Russia's terms for being a reliable long-term energy partner for the West when he addressed a meeting of the energy ministers of the G8 industrialized nations in Detroit on May 3. He argued that Russia...

Fraud charges mar Slavneft privatization. (Scapegoat).(criminal case against Anatoly Baranovsky, one time candidate for Slavneft presidency)(Brief Article)
May 9, 2002... The struggle for the soul of Slavneft -- will it be privatized, or merged with Rosneft into a Russian state oil giant? -- has taken a new twist with fraud allegations being made against one of the candidates to take over the company's...

Yukos eyes German assets. (Western Front).(negotiates to buy from BP)(Brief Article)(Statistical Data Included)
May 9, 2002... Russia's number two oil company, Yukos, is pressing ahead with its expansion into the European downstream. The Russian major is negotiating to purchase a 55% stake in the German Bayernoil refinery from BP, the German press reported. The 275,000...

Gazprom profits fall short. (Half Stop).(Brief Article)(Statistical Data Included)
May 9, 2002... Russian gas monopoly Gazprom has fallen short of the profit forecast given earlier by its CEO Alexei Miller for 2001. It posted a 2001 non-consolidated net profit of 71.9 billion rubles ($2.46 billion) in accounts prepared according to Russian...

Yukos postpones far East plans. (Waiting Room).(for East Siberian Oil Co.)(Brief Article)
May 9, 2002... Yukos looks likely to postpone its ambitious plans to develop the oil and gas riches of East Siberia. Yukos and Metallinvest, the controlling shareholders in East Siberian Oil Co (VSNK), have decided to turn down a financing scheme for...

Minlei takes to the stage. (Spotlight).(new oil producer)(Brief Article)
May 9, 2002... The startup producer Minlei is coming into its own, having last week scooped up a $25 million loan from Lukoil. A company launched in the middle of 2001 with the backing of former Rosneft executives and the local Yamal-Nenets authorities,...

Lukoil gets state backing for products line. (Green Light).(new oil products pipeline)(Brief Article)
May 9, 2002... Lukoil has won government backing for its plan to build an oil products pipeline to the Baltic Sea. The MVK interdepartmental commission on access to export pipelines approved construction of a pipeline from Nizhny Novgorod to the Baltic...

Refinery deliveries up in Q1. (Nascent).(Russian oil production)(Brief Article)
May 9, 2002... Crude deliveries to Russian refineries through the Transneft system continued climbing to hit 3.51 million b/d (43.1 million metric tons) in the first quarter of 2002, up from 3.34 million b/d (40.98 millions tons) over the same period last...

Gas exports up in first quarter. (Quarter Pounder).(Russia)(Brief Article)(Statistical Data Included)
May 9, 2002... Russia ramped up gas exports in the first quarter, with more of the additional volumes heading to Western Europe. According to preliminary data from Gazprom's marketing arm Gazexport, gas shipments to countries outside the former Soviet...

Russia tightens grip on world nuclear industry. (Nuclear Powerhouse).(Brief Article)
May 9, 2002... Already the world's biggest oil and gas producer, Russia is consolidating its position as the leading player in nuclear energy while its main rivals in the US and the European Union continue to prevaricate. Russia has a long-established...

Yukos talks to foreign investors. (Foreign Service).(Brief Article)(Statistical Data Included)
May 9, 2002... The controlling shareholders in Yukos led by CEO Mikhail Khodorkovsky announced that they are ready to hold negotiations with potential Western investors before the company applies for a New York listing in three to four months. "After...

Bashneft lets in foreigners. (Open Door).(Brief Article)(Statistical Data Included)
May 9, 2002... Bashkir producer Bashneft has ended restrictions on foreign ownership in the company. A shareholders meeting on Apr. 29 lifted a rule that restricted ownership by non-residents in the company to 10%, and required foreigners to obtain...

Equities.(Brief Article)(Illustration)(Statistical Data Included)
May 9, 2002... Equities Share Prices Closing On May 7, 2002 ($/Share) Closing Change From 12 Months Locally Traded Shares Price Apr. 30, 2002 High Low Bashneft 2.92 ...

Currencies.(Brief Article)(Illustration)(Statistical Data Included)
May 9, 2002... Currencies May 8'02 May 1'02 US Dollar Exchange Rates Former Souviet Union Russian ruble 31.23 31.19 Armenian dram 580.84 579.34 Azerbaijani manat 4,848...

Iran struggles against Caspian isolation. (Black Sheep).(Brief Article)
May 9, 2002... Sampson, Paul Iran's growing sense of isolation in the Caspian and Central Asia, exacerbated by the strong US military presence in the former Soviet republics bordering Afghanistan, has deepened after an ill-starred visit to Turkmenistan...

PM calls for tighter control at Caspian port. (Kazakstan).(Kazakhstani prime minister Imangali Tasmagambetov)(Brief Article)
May 9, 2002... Prime Minister Imangali Tasmagambetov has called for tighter control at the Caspian port of Aktau, where the dealings of shipping firm Kazmortransflot (KMTF) have caused growing concern among the country's oil exporters. "There should be a...

Niyazov puts faith in trans-Afghan line. (Turkmenistan).(president Saparmurat Niyazov)(Brief Article)
May 9, 2002... Construction of a gas pipeline from Turkmenistan through Afghanistan to Pakistan is a long, long shot at best, especially given that growing domestic reserves leave Pakistan in little evident need of the gas. But politics considered, such...

Nazarbaev to cement energy ties with Russia. (Kazakstan).(Brief Article)
May 9, 2002... President Nursultan Nazarbaev is expected to carve into stone Kazakstan's strong energy ties with Russia when he visits Moscow on May 12-15. Among the documents to be signed during the visit is an agreement on setting up a joint venture...

Q1 Crude Deliveries To Russian Refineries, ('000 metric tons). (Russia).(Illustration)(Statistical Data Included)
May 9, 2002... Q1 Crude Deliveries To Russian Refineries, ('000 metric tons) January 2002 Komsomolsk 287.30 Purneftegas 287.30 Krasnodareconeft 78.63 Krasnodameftegas ...

Futures dance to Mideast drum. (Crude Oil).(Brief Article)(Statistical Data Included)
May 9, 2002... In a virtual reverse replay of last week, crude oil futures prices moved to the drumbeats of the Middle East and US inventory figures. The seven-day reporting period started on a downturn based on bearish US crude inventory reports and an...

Softer futures ease cash values. (Products).(Brief Article)(Statistical Data Included)
May 9, 2002... Outright prices were once more dragged down by losses on the screen. And differentials were again only marginally changed on the week, with the Mediterranean a little weaker and Northwest Europe a little stronger on the week. Baltic Sea...

Marketplace.(Brief Article)(Illustration)(Statistical Data Included)
May 9, 2002... Marketplace Spot Crude Oil Prices $/barrel f.o.b. terminal, or c.i.f. destination May 8'02 May 1'02 Chg. Dated Brent f.o.b. (38 API) 26.15 26.65 -0.50...

Q1 Russian Crude Deliveries to Belarussian Refineries ('000 metric tons). (Russia).(Brief Article)(Illustration)(Statistical Data Included)
May 9, 2002... Q1 Russian Crude Deliveries To Belarussian Refineries ('000 metric tons) January 2002 Mozyr 598.98 Bulgarneft 4.54 Derii 2.00 Kara-Altyn ...

Q1 Russian Crude Deliveries to Ukranian Refineries ('000 metric tons). (Russia).(Brief Article)(Illustration)(Statistical Data Included)
May 9, 2002... Q1 Russian Crude Deliveries To Ukranian Refineries ('000 metric tons) January 2002 Lisichansk 360.00 Nizhnevartovsk Oil and Gas 100.00 Orenburggeologia 30.00 Orenburgneft 172.70...

Q1 Russian Crude Deliveries to Kazak Refineries ('000 metric tons). (Russia).(Brief Article)(Illustration)(Statistical Data Included)
May 9, 2002... Q1 Russian Crude Deliveries To Kazak Refineries ('000 metric tons) January 2002 Pavlodar 225.99 Lukoil-Western Siberia 100.00 Samotlorneftegas 125.99 February 2002 Pavlodar 264.72...

Kurmangazy to challenge for Caspian crown. (King Size).(Kazakhstan oil and gas field)(Russian-Kazak agreement)(Brief Article)
May 16, 2002... A political breakthrough in the northern Caspian Sea has opened the door for the exploration of a vast structure that could seal the area's status as one of the world's most prolific oil provinces. Kazak President Nursultan Nazarbaev, who...

Turkmenistan changes tack on foreign investment. (Caspian Camelot).(Brief Article)
May 16, 2002... Turkmenistan is trying a different tack. Having failed to attract a storm of foreign investment, it is now aiming to lure in Western oil field service companies to help national oil concern Turkmenneft to press ahead with development projects...

St. Pete loads first floating storages. (Salt Peter).(fuel oil cargoes)(Brief Article)
May 16, 2002... The Baltic Sea port of St. Petersburg is getting its floating storage season into full swing. It will load the first fuel oil cargoes from its floating storage vessels this weekend. All five floating storage vessels at Petersburg are now...

Russia presses On with Eastern line. (Easter).(pipeline)(Brief Article)
May 16, 2002... Paving the way for a $5 billion project to build a 4,000 km pipeline to the Pacific Ocean, national pipeline operator Transneft has signed a protocol of intent with the lrkutsk regional administration. Faced with the need to develop new...

Ministry shifts control over exports. (Winds of Change).(Energy Ministry)(Brief Article)
May 16, 2002... Energy Minister lgor Yusufov has launched a major restructuring of his ministry by signing a number of decrees over the quiet period of the May holidays in Russia. The biggest change is to take away control over crude exports from the...

Gazprom considers Sakhalin-2. (Twosome).(Brief Article)
May 16, 2002... Natural gas monopoly Gazprom will take a decision on whether to join the Sakhalin-2 project by October, according to Yuri Komarov, deputy chief executive in charge of foreign relations. Komarov called the project interesting because exports...

TNK buys 44% of Rospan. (Done Deal).(Tyumenneft)(Brief Article)
May 16, 2002... The feud between Yukos and Tyumen Oil Co. (TNK) over disputed assets now looks to be coming to an end. Yukos has sold a 44% stake in Siberian gas producer Rospan International to TNK for $44 million, under agreements reached earlier between the...

Russia revives exports to Cuba. (Latin Lover).(Brief Article)
May 16, 2002... Energy Minister Igor Yusufov has confirmed that Russia will revive crude export shipments under its cooperation protocol with Cuba. According to Yusufov, stateowned giants Rosneft and Zarubezhneft will lift crude export cargoes to finance...

Russia heads world bribery table. (Transparent Not).(Brief Article)
May 16, 2002... Russian companies are seen as most likely to pay or offer bribes to win businesses in emerging markets, global anti-corruption organization Transparency International (TI) says. On a scale of zero to 10 -- in which zero indicates bribes are...

Slavneft gets new president. (New Man).(Yuri Sukhanov)(Brief Article)
May 16, 2002... In a telling sign that Russia's oligarchs are far from losing their grip on power, Yuri Sukhanov has been elected president of state-owned Slavneft by a resounding 89.04%. His only rival, Rosneft vice president Anatoly Baranovsky, received only...

Gazprom to keep auditor. (Sitting Pretty).(PricewaterhouseCoopers)(Brief Article)
May 16, 2002... Natural gas monopoly Gazprom has disappointed investors with a recommendation that it should not switch auditors. In the gas giant's first-ever tender to choose an international auditor for its 2002 books, the tender commission proposed...

Share prices closing on May 14, 2002 ($/share). (Equities).(Brief Article)(Illustration)(Statistical Data Included)
May 16, 2002... Equities Share Prices Closing On May 14, 2002 ($/Share) Closing Change From 12 Months Locally Traded Shares Price May 7, 2002 High Low Bashneft 3.27 0.35 ...

Currencies.(Brief Article)(Illustration)(Statistical Data Included)
May 16, 2002... Currencies US Dollar Exchange Rates May 15'02 May 8'02 Former Soviet Union Russian ruble 31.25 31.23 Armenian dram 580.93 580.84 Azerbaijani manat 4,853 4,848...

Kashagan stakes await Kazak seal of approval. (Kazakstan).(Kazakhstan government waiting to approve shareholdings in Kashagan field consortium)(Brief Article)
May 16, 2002... Apparently happy to bide its time, the Kazak government has still not approved the new shareholdings in the ENI-led Agip KCO consortium that is exploring the Kashagan field, even though it has been over eight months since the combined 14.28%...

Stroitransgas to build export pipeline link. (Kazakstan).(Brief Article)(Statistical Data Included)
May 16, 2002... Russian pipeline construction company Stroitransgas has won a tender to build a 120,000 b/d Kenkiyak-Atyrau oil pipeline, opening the way for producers in the Aktobe region of northern Kazakstan to gain access to export markets via the Russian...

Suitors line up for Ina stake. (Croatia).(stake in Croatian oil and gas company)(Brief Article)(Statistical Data Included)
May 16, 2002... A stake of 25% plus one share in Croatia's Ina oil and gas company is to be sold to a strategic partner by the end of 2002, according to a government ruling. Expressions of interest should be submitted by May 31. Potential bidders include...

Celtic switches to seismic for Tamdykol. (Kazakstan).(Celtic Resources Holdings PLC; Tamdykol block, Kazakhstan)(Brief Article)
May 16, 2002... Celtic Resources Holdings, one of a growing breed of oil explorers that cut their teeth in gold mining, is to carry out a new seismic program on its Tamdykol block after declaring two wells drilled last year to be non-commercial. The...

Germans plug into power privatizations. (Electric Acid Test).(RWE AG, E.ON AG)(Brief Article)
May 16, 2002... The eastward expansion of the European Union is driving a process of privatization and liberalization in the power sector as the countries of Central and Eastern Europe prepare for accession. This has brought an influx of West European power...

Russian Crude Exports To Non-CIS Markets, April 2002. (Russia).(Statistical Data Included)
May 16, 2002... Russian Crude Exports To Non-CIS Markets, April 2002 Novo Tuapse Odessa Ventspils GRAND TOTAL * 3,716 427 798 780 TOTAL FOR RUSSIA * 3,106 ...

Futures firm on fundamental outlook. (Crude Oil).(Brief Article)
May 16, 2002... Cash values firmed again, although gains in Brent futures to some extent were countered by easing dated Brent prices as a result of the apparent end of the latest squeeze on the international benchmark. Futures firmed on the back of warnings...

Screen strong, physicals flat. (Products).(Russian gas oil prices)(Brief Article)
May 16, 2002... Russian gas oil prices climbed with rises on the screen. Strengthening differentials bolstered gains a little in the Mediterranean, while premiums in Northwest Europe remained flat on the week. Gas oil shipments totaled 411,000 metric tons...

Marketplace.(spot crude oil prices)(Brief Article)(Statistical Data Included)
May 16, 2002... Marketplace Spot Crude Oil Prices $/barrel f.o.b. terminal, or c.i.f. destination May 15'02 May 8'02 Chg. Dated Brent f.o.b. (38 API) 27.10 26.15 0.95 Russian...

BP spearheads $10 billion investment drive in Azerbaijan. (Hope).(British Petroleum;)(Brief Article)(Statistical Data Included)
May 23, 2002... Three dates loom large in the diary of Azerbaijan this year that will generate total investment of a staggering $10 billion over the next four years. And it is BP that is making most of the running in the key projects to develop and transport...

Russia sees energy rewards in Bush visit. (Faith).(expectations of series of bilateral energy deals)(Brief Article)(Statistical Data Included)
May 23, 2002... Russia's oil community has high hopes that the budding energy relationship with the US will blossom during the first visit to Moscow and St. Petersburg this week by President George Bush. There are great expectations that a series of...

Total signs Vankor deal. (Vanksgiving).(Total Fina Elf acquires stake in Vankorskoye field from Anglo Siberian Oil Co.)(Brief Article)
May 23, 2002... In another sign that Russia is back in vogue with Western majors, Total Fina Elf has signed an agreement to join the Vankorskoye project in East Siberia, which is eligible for development under production sharing agreement (PSA) terms. ...

Fight for Slavneft goes on. (Battle Lines).(Ufa court declares Yuri Sukhanov's election to president of Slavneft illegal)(Brief Article)
May 23, 2002... The fight for control over state-owned Slavneft took a new twist when bailiffs visited its office to serve the company a court order late last week. The ruling, from an Ufa court, declared Yuri Sukhanov's recent election to the post of...

Russia keeps top spot in Iraq-UN program. (View from the Top).(oil exports)(Brief Article)
May 23, 2002... Russia will retain its special status in the Iraqi oil export program overseen by the UN, a senior Iraqi official has promised. Russia will remain the biggest contract lifter of Iraqi crude under the 12th phase of the program, set to start...

Amur to upgrade Sakhalin-1 platform. (Platform Heels).(Amur Shipyard)(Brief Article)
May 23, 2002... Russia's far eastern Amur Shipyard has won a $140 million contract from the Exxon-Mobil-led Sakhalin-1 consortium to upgrade its Orlan production platform. Experts from Korean Hyundai Heavy Industries are to be subcontracted under the deal,...

Crown loads VLCC at Ventspils. (Crown Jewels).(Crown Resources, very large crude carrier)(Brief Article)
May 23, 2002... Swiss-registered trader Crown Resources is using an innovative scheme to move Russian fuel oil to Asian markets, taking advantage of freight economies of scale to force the arbitrage window open. Crown has loaded a very large crude carrier...

Butinge profits from Ventspils's misfortunes. (Trading Places).(increase in cargo handling)(Brief Article)
May 23, 2002... After months of sitting idle, the Lithuanian port of Butinge now has Russian producers queuing up at its door. Butinge has lined up to handle 164,000 b/d (692,000 metric tons) in May, in seven positions of 100,000 tons each. Butinge's good...

Lukoil amends Caspian plans. (Prince Caspian).(will cooperate with Kazmunaigas on development of Khvalynskaya)(Brief Article)
May 23, 2002... Lukoil has changed its upstream tactics in the Caspian following the Russian-Kazak agreement on delineating the northern part of the Caspian Sea. The Russian oil company has replaced the Khvalynskyaya block with the Korchagin deposit in a...

Lukoil's overseas expansion gets boost. (Global Ambitions).(will bid on stake in Hellenic Petroleum with Latsis Group)(Brief Article)
May 23, 2002... Russia's biggest oil major, Lukoil, has gotten a boost for its international ambitions. The major has been granted the status of exclusive bidder for Hellenic Petroleum in tandem with Greece's Latsis Group. In Poland, the government has...