FSU Energy articles from August 2003

FSU Energy archives from August 2003

Mutual mistrust hobbles TNK-BP: TNK-BP could formally come into existence as soon as next week. But the two sides remain wary of each other.
August 29, 2003... Russia's anti-monopoly ministry this week gave the green light for the formal creation of the TNK-BP joint venture. But the integration of Tyumen Oil (TNK) and BP's Russian assets is proving difficult because of mutual mistrust, sources at...

A rare ally: foreign oil firms have few real friends in Russia. And they have just lost one of the most important.(Editorial)
August 29, 2003... Russia's regional governors remain powerful figures despite recent efforts by the Kremlin to bring them back under closer central control. But they are not, on the whole, a particularly farsighted or pragmatic bunch. Sakhalin island...

Sakhalin tragedy threatens stability.(News)
August 29, 2003... The death of Sakhalin governor Igor Farkhutdinov in a helicopter crash has set alarm bells ringing among foreign investors, prompting fears that state-controlled Rosneft and Gazprom will step up efforts to increase their influence in the...

Russia seeks China pipeline delay.(News)(Brief Article)
August 29, 2003... Russia has asked China to delay a decision on the route for the 600,000 b/d Angarsk-Daqing crude pipeline, which was expected to be sealed during a visit by Russian prime minister Mikhail Kasyanov to Beijing in late September. The route...

Yukos invites Transneft to Slovak link project.(News)(Brief Article)
August 29, 2003... Yukos has asked Transneft to join the Bratislava-Schwechat pipeline project, following its agreement with Austria's OMV to set up a firm to build a 60km pipeline between the Slovak section of the Druzhba pipeline and the latter's 180,000 b/d...

Moscow bets on Pivdenne exports.(News)
August 29, 2003... Russia and Ukraine have agreed to switch some crude shipments from Odessa to the nearby Pivdenne terminal, a move that could pave the way for exports through the Odessa-Brody line. The two sides have agreed on exports of 4mn t/yr of crude...

Russia, Ukraine move closer to gas agreement.(News)(Brief Article)
August 29, 2003... Russia and Ukraine this week signed an agreement that could pave the way for a 25pc increase in exports to European destinations by Gazprom across Ukrainian territory. The two sides have agreed to expand capacity of the...

Karachaganak group wants better price.(News: Caspian)
August 29, 2003... Shareholders in the Karachaganak gas condensate project in western Kazakhstan want Gazprom to triple purchase prices for gas exported from the field to the Orenburg gas-processing plant in Russia. "We want the prices for our gas to reach...

CNPC plans Kazakh investment boost.(News: Caspian)(Brief Article)
August 29, 2003... China's state-owned CNPC plans to spend about $800mn developing infrastructure at the Kenkiyak-Zhanazhol onshore oil and gas block in western Kazakhstan in 2003-05. The firm holds 85.4pc of Kenkiyak-Zhanazhol licenceholder...

Baku refineries talk to third parties.(News: Caspian)(Brief Article)
August 29, 2003... The Azneftyag and Azneftyanajag refineries in Baku are looking for partners to carry out third-party processing. The plants have combined total capacity of 22mn t/yr (440,000 b/d) but currently process as little as 6.4mn t/yr. Striking...

Caspian grades head transatlantic.(Exports and trade)
August 29, 2003... Kazakh light sweet Kumkol is to go to the US for the first time, after London-based trader Arcadia sold an 80,000t cargo loading at the Georgian Black Sea port of Batumi on 24-26 August. And BP hopes to sell the first Azeri Light cargo to...

Ukrtatnafta seeks re-export ban.(Exports and trade)
August 29, 2003... Ukrtatnafta, which operates Ukraine's 360,000 b/d Kremenchug refinery, has asked the country's energy ministry to ban re-exports of Russian crude. Ukrtatnafta chairman Pavel Ovcharenko has warned energy minister Serhyi Ermilov that...

Russia maintains strong export levels.(Exports and trade)(Industry Overview)
August 29, 2003... Russia's seaborne crude exports are expected to remain steady in September after strong August levels. "September will be the last good month this year," a trader says. "Everybody will try to use this opportunity." The weather should...

Lebedev forgotten in summer rally.(Stock markets)
August 29, 2003... The RTS moved slightly lower over the week, coming down from its 527.7 points high to close the week on 517 points. Analysts at Troika Dialog characterised this as minor profit-taking driven by London, following the resumption of trade there...

Lukoil secures Beopetrol stake.(News)
August 29, 2003... Lukoil this week won control of a 79.5pc stake in Serbia's Beopetrol, which controls around 20pc of the country's retail fuel market. The Russian company outbid Hungary's Mol, which was considered the favourite. A third initial bidder,...

Russia disappoints over LPG price controls.(News)(Brief Article)
August 29, 2003... The Russian government has decided to maintain its controversial liquefied petroleum gas (LPG) supply quotas with fixed prices for the next 1 1/2 years, dashing LPG producers' hopes of a quick end to price restrictions. Until now, LPG quotas...

Nis turns to tenders.(News)(Brief Article)
August 29, 2003... Serbian state-owned refiner Nis has turned to tender buying of seaborne crude since the beginning of the year. It is sot to award a tender to import 500,000t (3.65mn bl) of Urals quality crude early next week. The tender, for an...

Arbitrage supports gasoil prices.(Products market)
August 29, 2003... * Product prices lost early-week gains as futures in the US retreated from the highs reached after power shutdowns in mid-August. But there was solid demand for gasoil from the US because of an early start to the heating season, offering...

Urals eases, sweets head for US.(Crude market)(Brief Article)
August 29, 2003... * Crude prices were firm, with dated BFO close to $30/bl. US crude and gasoline stocks remained tight amid continued instability in Iraq. Urals eased as the release of September loading programmes added to the number of available cargoes (see...

Russian refinery output.(Brief Article)
August 29, 2003... Russian refinery output, June 2003 Crude throughput Crude Jun ...

Netbacks.(Brief Article)
August 29, 2003... Russian crude netbacks 27 Aug Primorsk Butinge Urals (cif-fit) ($/bl) 28.60 28.60 Urals (cif-fit) ($/t) 208.78 ...

Putin casts shadow over pipelines: with Transneft struggling to retain its pipeline monopoly, president Putin has lent his weight to the issue.
August 22, 2003... Russian president Vladimir Putin has called into question the prospect of any quick decisions on major new oil pipeline projects. Following a briefing this week by Semyon Vainshtok, head of pipeline operator Transneft, Putin said the capacity...

Diesel power: Russian refiners want to boost output of light products. But it will be vital to strike the right balance.(Editorial)
August 22, 2003... A couple of years ago Moscow drew up a programme for modernising Russia's vast and largely unsophisticated refining sector. The main thrust was that Russian firms needed to pump some $8bn into the sector by 2010 to boost and improve gasoline...

Russia seeks path back to Iraq.(News)
August 22, 2003... Russia is launching an attempt to restore its commercial position in Iraq and to play a key role in rebuilding the country's oil industry. The question is on the agenda for the forthcoming summit between presidents Vladimir Putin and George...

Yukos-Sibneft merger wins approval.(News)(Brief Article)
August 22, 2003... Russia's anti-monopoly ministry has approved leading Russian oil company Yukos' takeover of its smaller rival Sibneft. The ministry appears to have given the go-ahead for the deal without demanding sensitive concessions, despite fears that...

Moscow to create oil fund.(News)(Brief Article)
August 22, 2003... Russia is considering creating a "stabilisation fund" next year to take advantage of sustained high oil prices. "The fund will enable the government to accumulate money to meet budget targets," finance minister Alexei Kudrin said on...

Belarus embargoes fuel oil exports.
August 22, 2003... Belarus has banned all exports of fuel oil. The embargo, imposed on 14 August, could push up prices and limit supply in an already tight European fuel oil market. Belarus' state-owned Belneftekhim has ordered that exports of fuel oil be...

Russia raises rail exports in July.(oil exports, 2003 period)(Brief Article)
August 22, 2003... Russian producers increased rail crude exports to 939,000 b/d in July, a 93pc increase on the same month last year (see pp14-15). In contrast to pipeline shipments, there are no restrictions set for rail or river crude exports, and exporters...

Refiners cuts runs.(Russia, oil refiners; production)(Brief Article)
August 22, 2003... Russian refineries cut runs in July by 1.1pc compared with last year, to 15.3mn t (3.6mn b/d), according to the state statistics committee. Volumes were roughly level with June. Overall runs in January-July are up by 3.3pc on year-ago levels...

FSU crude exports set new record.(former Soviet Union, oil exports; July 2003)
August 22, 2003... Crude exports from the former Soviet Union set yet another new record in July. Shipments edged up by 1pc from Jane to 4.99mn b/d (21.05mn t). Year-to-date exports were 17pc up on the corresponding period of last year. Exports through...

Odessa difficulties to linger into September.(oil loading problems, 2003 period; Russia, Ukraine)
August 22, 2003... Crude loading difficulties are expected to continue plaguing Odessa into next month, as Russian pipeline operator Transneft maintains pressure on Kiev to reverse its 180,000 b/d Odessa-Brody pipeline to handle Russian crude exports. Traders...

Sakhalin governor missing.(Igor Farkhutdinov, Russia)(Brief Article)
August 22, 2003... Sakhalin governor Igor Farkhutdinov has been missing since a helicopter he was travelling in disappeared on 20 August. The emergency situations ministry has launched a search mission in waters near Kamchatka for the governor and the 17 other...

Tatneft sets sights on Turkish refiner.(possible share acquisition of Tupras)(Brief Article)
August 22, 2003... The autonomous republic of Tatarstan's regional oil firm, Tatneft, is considering bidding for a 60pc stake in Turkish refiner Tupras. Turkey originally planned to sell 51pc of Tupras in May, but is dragging its feet (FSUE, 18 April, p8)....

Lukoil takes over Urals Energy.(acquisition)(Brief Article)
August 22, 2003... Lukoil has completed its purchase of assets in Russia's far north Komi republic belonging to Urals Energy, the firm owned by Leonid Dyachenko, former son-in-law of ex-president Boris Yeltsin. Lukoil subsidiary Lukoil-Komi has bought 48.66pc...

Lukoil agrees special pipeline tariff.(Russia, oil pipeline)(Brief Article)
August 22, 2003... Russia's federal energy commission, which regulates pipeline tariffs, has approved higher rates for Lukoil on two relatively short pipeline sections in west Siberia. Lukoil and Transneft have agreed that the new tariffs--almost nine times...

CNPC buys into Buzachi.(Chinese oil firm, oil field; Kazakhstan)(Brief Article)
August 22, 2003... Chinese state-owned oil firm CNPC has bought a 35pc stake in Kazakhstan's North Buzachi oil field and will eventually take over as its sole operator. CNPC bought the stake from Saudi firm Nimir Petroleum and plans to buy out the remaining...

Looking ahead.
August 22, 2003... * KIOGE. 7-10 October. Almaty, Kazakhstan. Tel: (44 20) 7596 5081 * Oil and Gas Transportation in the CIS & Caspian Region. 21-22 October. Vienna. Energy Exchange. Tel: (44 1242) 529 090 * Oil and Gas Transit and Supply in Central and...

Turgai Petroleum seeks $75mn loan.(Brief Article)
August 22, 2003... Kazakh oil producer Turgai Petroleum, which is developing Kazakhstan's North Kumkol oil field, is seeking a four-year $75mn loan. The firm--a joint venture between Lukoil and Canada's PetroKazakhstan--intends to use the credit to build...

Kazakh refining declines.(Kazakhstan, oil production; July 2003)(Brief Article)
August 22, 2003... Kazakh product output fell in July following maintenance work at the Pavlodar refinery. The country's three refineries produced 489,600t of products over the month, down by 5pc on June. Crude shipments to the plants amounted to 656,000t...

Azerbaijan raises fuel oil output.(July 2003)(Brief Article)
August 22, 2003... Oil products output from Baku's Azneftyag and Azneftyanadzhag refineries fell by 17pc to 414,500t in July compared with the same month last year. Fuel oil production rose last month to ensure sufficient reserves for the winter season. Product...

Sempra buys 140,000t of Azeri crude.(Azerbaijan, oil)(Brief Article)
August 22, 2003... US trader Sempra bought 140,000t (1.02mn bl) of Urals loading from Novorossiysk at a tender held by Azeri state-owned Socar. The cargo will load in the last 10 days of September. Azerbaijan plans to export 220,000t of crude from Novorossiysk...

Turkmen crude exports on the up.(Turkmenistan, oil exports; statistics)(Brief Article)
August 22, 2003... Turkmen crude exports rose last month following an increase in output. Exports from the ports of Okarem and Aladzha came to 78,000t (18,400 b/d) in July, against 67,000t in June. But a shortage of tankers in the Caspian is preventing ports...

Surgut's cash pile vexes observers.(Surgutneftegaz)
August 22, 2003... The size of Surgutneftegaz's cash pile is puzzling analysts. Despite a huge spending spree earlier this year, Surgut's cash reserves seem scarcely depleted. And analysts say the lack of explanation underlines Surgut management's cavalier...

Romania spells out Petrom sale details.(privatization of oil firm)(Brief Article)
August 22, 2003... Romania is set to release details of its privatisation strategy for state-owned oil and gas company Petrom. And various government officials have already hinted at a scenario where 33-34pc of the company would be sold to a strategic investor,...

OMV details Druzhba link.(to form new company with Yukos, oil pipeline)(Brief Article)
August 22, 2003... Austria's OMV will set up a new company with Yukos to build a 60km pipeline link to the Slovak section of the Druzhba pipeline. The two companies signed a memorandum of understanding last week trader which Yukos will supply OMV's 180,000 b/d...

Russia forecasts crude output, export rise.(oil industry)
August 22, 2003... Russia's crude oil production will continue to grow rapidly over the next three years, according to a new government forecast for the economy. Crude output, Moscow predicts, will soar by up to 20pc against the 2002 level to reach 9.2mn b/d by...

Russia targets 2H oil, gas output increases.(production, 2003 second half)(Brief Article)
August 22, 2003... The Russian energy sector is expected to maintain strong growth in the second half of this year. The energy ministry forecasts that crude oil and gas condensate production will reach at least 8.28mn b/d in the second half of the year--up by...

Lithuania and Lukoil lock horns.(offshore oil field, environmental aspects; Baltic Sea)(Brief Article)
August 22, 2003... Clashes between Russian firm Lukoil and Lithuanian environmentalists over development of the D-6, or Kravtsovskoye, offshore oil field in the Baltic Sea have taken a new twist, with high-ranking officials from both countries entering the...

Iran expands Caspian swaps pipeline.(Caspian Sea, oil pipeline)
August 22, 2003... Iran will complete a 70,000 b/d capacity expansion to more than double throughputs on its Neka-Tehran crude pipeline by the end of September, says a senior oil ministry official. Capacity on the 340km, 32-inch (80cm) pipeline from Iran's...

Kazakhstan to tender four Caspian blocks.(offshore gas and oil)(Brief Article)
August 22, 2003... Kazakh state-owned oil and gas firm Kazmunaigaz plans to tender four offshore Caspian Sea blocks next year. Preparatory work has already begun on the Darkhan, Nursultan, Ulytau and Rakushechnoye structures, located in the southern and...

Rebound on YukosSibneft approval.(stock markets, Russia; oil companies' merger)
August 22, 2003... The Russian Trading System (RTS) defied the traditional summer malaise, hitting a fresh post-crash high of 528.3 points on 19 August. But the market may now be due a downward correction. "The market should stabiles at 500-510 next week,"...

Turkey-Russia gas talks hit more snags.(natural gas; Botas, Gazprom contracts)
August 22, 2003... On-off talks between Turkey's Botas and Russia's Gazprom over Turkish demands for price concessions on its gas imports have broken down. The talks, which began in January, cover Turkey's three gas purchase deals. And the two sides had...

Kovykta talks stumble on price details.(Russia, China, South Korea; gas prices, Siberia field)
August 22, 2003... Russia, China and South Korea are still arguing over the price formula for gas supplies from the Kovykta field in east Siberia, despite a formal agreement earlier this year (FSUE, 25 April, p3). The dispute between the BP-led Rusia...

EBRD delays loan to Socar.(European Bank for Reconstruction and Development, funding for Azerbaijan natural gas project)(Brief Article)
August 22, 2003... The EBRD says it will not begin discussions over financing Azerbaijan's 10pc stake in the BP-led Shakh-Deniz gas project in the country until the first quarter of 2004. The bank will make its decision at a board meeting early next year once...

Gasoil gets a lift.(prices, statistics; Russia and Europe)
August 22, 2003... * Mediterranean and US buying buoyed interest for Russian gasoil, despite weak German demand. But fuel oil looked oversupplied as the arbitrage to Asia-Pacific remained closed, leaving European bunker blenders to absorb the surplus. *...

Traders await September programmes.(oil industry, Europe; prices)
August 22, 2003... * Crude prices gained late in the week on an unexpected fall in US stocks, but prices remained marginally lower than a week earlier. Urals was firm at discounts of 90cents/bl to dated BFO in both the Mediterranean and northwest Europe. *...

Russian rail data.(oil exports, July 2003)
August 22, 2003... Russian rail exports/imports, July 2003 '000t % chg YTD Crude '000/b/d Jun 000 b/d Gasoline Overland Afghanistan Armenia Azerbaijan...

Netbacks.(oil, statistics; Russia)
August 22, 2003... Russian crude netbacks 20 Aug Primorsk Butinge Novorossiysk Urals (cif-fit) ($/bl) 28.23 28.23 28.23 Urals (cit-fit) ($/t) 206.08 206.08 ...

Rosneft's offshore appetite grows: the oil firm is using its status as a state-owned company to try and gain a competitive advantage.
August 15, 2003... Rosneft, Russia's only remaining state-owned oil firm, is trying to exploit its unique status to secure licences and preferential treatment. In a letter to natural resources minister Vitaly Artyukhov, a copy of which has been seen by...

Reality check: taking on Yukos may have suited the Kremlin, but the cost --in terms of loss of investor confidence--will be high.(editorial, law enforcement attacks)
August 15, 2003... The Yukos affair grinds on unresolved And with every day that passes, investor confidence in Russia wanes and damage is done to the economy. But it is now likely that the attacks on Russia's largest oil firm by the country's law enforcement...

Gazprom pushes into east Siberia.(gas fields)
August 15, 2003... Gazprom has started buying up licences for east Siberian gas fields following its unsuccessful attempts to join the BP-led Rusia Petroleum venture that is developing the 1.9 trillion [m.sup.3] Kovykta gas field. Gazprom was earlier this...

Minister hints at approval for Yukos-Sibneft merger.(anti-monopoly minister, Russia)
August 15, 2003... Russia's anti-monopoly minister Ilya Yuzhanov this week gave a strong indication that he is preparing to approve the proposed merger between Yukos and Sibneft. Yuzhanov said there is no "major obstacle" to approval and that a decision will be...

BP reduces Russian reserves estimate.(BP PLC, oil)(Brief Article)
August 15, 2003... BP has had to cut its estimate for oil mad gas reserves acquired through its proposed venture with Russia's Tyumen Oil (TNK) under US Securities mad Exchange Commission (SEC) rules. The SEC requires BP to only book reserves that can be...

Russia gets ready for winter glut.(oil prices, exports)(Brief Article)
August 15, 2003... Domestic crude prices in Russia are still rising. But with seasonal price falls expected in October, when Russia has to cut crude exports due to weather-related transport constraints, domestic firms are preparing to fight the winter oil glut...

Serbia plans Beopetrol privatization.(fuel retailer)(Brief Article)
August 15, 2003... The Serbian government is to privatise 79.5pc of Beopetrol, the country's second-largest fuel retailer. The first stage of the tender on 8 August drew bids from firms including Lukoil, Hungary's Mol and Greece's Hellenic...

CNPC plans Buzachi route change.(Chinese firm, oil export routes; Kazakhstan)(Brief Article)
August 15, 2003... Chinese state-owned oil company CNPC may change export routes for Kazakhstan's Buzachi crude next year--if it replaces ChevrunTexaco operator of the North Buzachi oil fie in Kazakhstan. CNPC is currently negotiating t buy ChevronTexaco's...

Transneft cuts supplies to Odessa.(oil exports, Ukraine)
August 15, 2003... Crude exports through Ukraine's Odessa are set to drop this month as Russian pipeline operator Transneft pressures Kiev to reverse the 180,000 b/d Odessa-Brody pipeline for Russian crude. The Odessa situation has worsened since Ukraine and...

Ukrtransnafta boss says Plock project in jeopardy.(oil pipeline, Ukraine)(Brief Article)
August 15, 2003... Plans to extend the Odessa-Brody pipeline to Plock are in doubt after recent management changes in Ukrtransnafta by state-owned Naftohas Ukrainy. So says Oleksander Todiychuk, who is a key backer of plans for Ukraine pump Caspian crude...

Odessa cuts send Urals through the roof.(oil prices, Ukraine; Russia)(Brief Article)
August 15, 2003... The Odessa cuts sent Urals prices in It the Mediterranean to a 20-month high of 70 cents bl below dated BFO. Last week the market was awash with rumours that deliveries to Odessa had halted. with no further loadings in August. Although this...

YukosSibneft approval hint lifts RTS.(stock values and trade volumes, energy industries; Russia, Europe)
August 15, 2003... Traditionally low summer liquidity has dampened activity on most indexes. Trade was further thinned by the absence of many investors ahead of the US Federal Reserve's 12 August decision on interest rates. Oil stocks led the way in Europe for...

Lukoil set to borrow $500mn.(syndicated loan)(Brief Article)
August 15, 2003... Lukoil is planning to raise $500mn through a syndicated loan from ABN Amro and Citigroup at Libor plus 23pc. Lukoil will use the loan--to be secured with crude exports--to convert more of its liabilities into long-term debt. The firm's...

Gazprom buys into Lithuanian gas firm.(gas utility Lietuvos Dujos)(Brief Article)
August 15, 2003... Gazprom is planning to buy a 34pc stake in Lithuanian gas utility Lietuvos Dujos for $32mn. The Russian company initially submitted a $28mn bid for the stake. Gazprom, which supplies gas to Lietuvos, is the sole bidder for the stake. German...

Japan offers Russia a refinery.(planned oil pipeline and refinery)(Brief Article)
August 15, 2003... Russia and Japan have set up a working group to discuss the proposed 1mn b/d crude pipeline from Angarsk in east Siberian to the Pacific port of Nakhodka. Japan is actively promoting the route in a bid to cut its dependence on Middle East...

Trade revenues soar an energy exports.(Russia & CIS, statistics; petroleum)(Brief Article)
August 15, 2003... Sales of energy resources pushed Russia's export revenues up to $61.1bn in the first half of the year, up by almost 30pc on the year. Energy resources made up just over 60pc of exports outside the CIS, against 56pc in the same period of 2002....

Russia to extend crude pipeline to Austria.(Yukos, OMV; supply contract)(Brief Article)
August 15, 2003... Yukos and Austria's OMV have signed a memorandum of understanding for supply of up to 100,000 b/d of crude to OMV's 180,000 b/d Schwechat refinery near Vienna. Deliveries will start at 40,000 b/d in January 2006--after completion of a planned...

Czechs to privatise Unipetrol, again.(Brief Article)
August 15, 2003... The Czech government is planning to sell a 63pc stake in Unipetrol between October and March. But it may be rushing the process, say analysts, who speculate that the sale's proceeds may have already been factored into next year's budget....

Azerbaijan cuts product exports.(gasoline, statistics)(Brief Article)
August 15, 2003... Azerbaijan exported 114,000t of products in July, 25,000t less than in June. The fall was due to higher Azeri crude exports through the Black Sea port of Novorossiysk. Azcrbaijan has exported 999,000t so far this year, 541,000t less than the...

Azeri loadings steady.(Caspian/central Asia, oil; statistics)(Brief Article)
August 15, 2003... Four 1mn bl cargoes of Azeri Light crude are scheduled to load at the Georgian Black Sea port of Supsa in September, the same as in August. Supsa Sep loading schedule '000 bl Date Exporter Volume 5-6 Inpex ...

Georgia's energy minister leaves.(Caspian/central Asia)(Brief Article)
August 15, 2003... Georgian energy minister David Mirzkhulava has left his post to head the national energy regulator. Mirzkhulava was demoted after government infighting, sources say. He is likely to be replaced by Mamuka Nikolaishvili, currently deputy prime...

Products weaker with crude.(petroleum industry prices and rates, statistics; Russia, Europe)
August 15, 2003... * Russian products were generally weaker in line with crude futures. But fuel oil continued to show the price resilience seen in the last few months on tight supply from the Baltic. * Traders reported a steady stream of gasoil exports...

Urals steady amid Iraq uncertainty.(oil prices, statistics; Russia, Europe)
August 15, 2003... * Prices were steady on the week. The bearish impact of unexpectedly buoyant US stocks data was balanced by continued instability in Iraq. Urals prices eased in the Mediterranean and northwest Europe after hitting 20-month highs late last...

FSU crude offtakers.(oil exports, statistics; Russia)
August 15, 2003... Crude export offtakers, July 2003 Producers Offtakers Volume ('000t) Novorossiysk TNK TNK-Trade ...

Netbacks.(oil netbacks, statistics; Russia)
August 15, 2003... Russian crude netbacks 13 Aug Primorsk Butinge Urals (cif-fit) ($/bl) 28.51 28.51 Urals (cif-fit) ($/t) 208.12 ...

ChevronTexaco holds Yukos talks.
August 8, 2003... The major appears to want a stake in Russia's largest oil firm. But there are many obstacles, mainly political. ChevronTexaco, the second-largest US oil firm, has held informal discussions about a possible investment in Yukos. Neither...