FSU Energy articles from December 2002

FSU Energy archives from December 2002

Slavneft recriminations start: the outcome of the Slavneft auction was predictable. But the losers are far from happy.(Sibneft and Tyumen Oil won auction for 75% stake in Slavneft)
December 20, 2002... The victory of Sibneft and its, ally Tyumen Oil (TNK) in this week's auction for a 75pc Russian state stake in Slavneft surprised few observers. Now the partners must decide what to do with their new acquisition. Sibneft president Eugene...

No surprises: Russia consolidated its new relationship with the west in 2002. But foreign investors had little to celebrate. (Editorial).(Editorial)
December 20, 2002... A year ago, the global oil industry was looking back on 12 months of crude price volatility that had culminated in a fairly steep fourth-quarter slide. This prompted the usual concerns about export earnings and macro-economic stability in the...

Putin blesses BPS extension. (News).(Transneft's plan to expand Baltic Pipeline System)
December 20, 2002... President Vladimir Putin has given the go-ahead for Transneft to expand capacity of the Baltic Pipeline System (BPS) to 600,000 b/d (30mn t/yr). The news could undermine prospects for a Lukoil-backed project to build a major 1.2mn b/d...

Moscow helps Lukoil in Iraq dispute. (News).(Iraq terminated production-sharing deal with Lukoil for Ton bi West Qurna field)
December 20, 2002... Russia's foreign ministry has sent a note to Iraq urging Baghdad to compromise on its decision to terminate a production-sharing contract with Lukoil on the development of Ton bi West Qurna field. Moscow has promised that no other...

CPC hopes for higher volumes. (Exports and trade).(Caspian Pipeline Consortium's Tengiz to Novorossiysk link will handle some 370,000 bpd in 2003)
December 20, 2002... The Caspian Pipeline Consortium (CPC) link from Tengiz to Novorossiysk will handle around 370,000 b/d (17mn t) of crude next year, compared with 240,000 b/d this year. CPC officials say US-Kazakh oil company Tengizchevroil (TCO)--the sole...

Europe route for Azeri gas blocked. (Exports and trade).(planned 285 km, $300 mil pipeline)
December 20, 2002... Prospects are looking dim for a pipeline between Turkey and Greece routing Azeri gas to European markets, Azeri industry officials say. This could, in turn, jeopardise development prospects for Azerbaijan's offshore Shakh-Deniz gas field. ...

Druzhba-Adria deal. (Exports and trade).(Croatian government approved use of Druzhba-Adria pipeline to ship Russian crude oil to port of Omisalj)(Brief Article)
December 20, 2002... An intergovernmental agreement signed in Zagreb-on 16 December has given the green light for using the Druzhba-Adria pipeline link to ship Russian crude to the Adriatic port of Omisalj, Government representatives from Croatia, Russia,...

Delays dog BTC financing. (Exports and trade).(Baku-Tbilisi-Ceyhan pipeline)
December 20, 2002... Financing for the 1mn b/d BakuTbilisi-Ceyhan (BTC) pipeline is unlikely to be finalised until the third quarter of next year. An earlier first-quarter target date has been deferred, says David Woodward, president of BTC-leader BP in...

Pipeline launch brings dramatic Kazakh growth. (Exports and trade).(Kazakhstan crude oil output was 1.02 mil bpd in November 2002)
December 20, 2002... Kazakhstan produced 1.02mn b/d (4.2mn t) of crude in November (see table), up by 33,000 b/d on the previous month. January-November output was 933,000 b/d, up by 18.4pc on the year. Kazakh oil companies shipped 538,740 b/d of crude by...

Russian crude production to rise next year. (Exports and trade).(will rise slightly more than 10% vs 2002, to as much as 8.4 mil bpd in 2003)
December 20, 2002... Russia's crude oil production is expected to hit as much as 8.4mn b/d (42mn t) in 2003, up by just over 10pc from the 7.6mn b/d expected this year, deputy prime minister in charge of the energy sector Viktor Khristenko said earlier this week....

Crude exports ease. (Exports and trade).(total FSU crude exports fell slightly to 4.07mn b/d in 11/02)
December 20, 2002... Total FSU crude exports were 4.07mn b/d (16.6mn t) in November, slightly down on October and below September's record volumes by 255,000 b/d. But year-to-date exports remained over 16pc higher than the corresponding period last year. ...

Tax code PSA chapter stumbles. (News).(production-sharing agreement chapter of Russia's tax code unlikely to be passed in 2002)(Brief Article)
December 20, 2002... The long-awaited production-sharing agreement (PSA) chapter of Russia's tax code is unlikely to be passed this year, despite earlier promises. There has been halting progress towards a second reading of the bill, now due on 25 December....

New duty targets fuel quality. (News).(Russia's new excise duties, effective 1/1/03, to improve motor fuel quality)(Brief Article)
December 20, 2002... New excise duties being introduced in Russia from 1 January next year should improve the quality of motor fuel sold at retail stations. Under current legislation, refineries pay the duty. The bill, which was accepted by the Duma at its...

Lukoil muddies Shakh-Deniz waters. (News).(Lukoil says Agip never intended to sell its share in theri LukAgip joint venture, while Agip says sale is on )(Brief Article)
December 20, 2002... Conflicting statements from Lukoil and Italy's Agip, partners in the LukAgip joint venture, have created confusion about their plans for the offshore Shakh-Deniz gas condensate field in the Azeri sector of the Caspian. Lukoil now claims...

TNK presses ahead with Ryazan upgrade: Tyumen Oil (TNK) is in the middle of a major modernisation programme at its largest refinery, the Ryazan plant in central Russia. The project will put the plant among the top four Russian refineries. In a recent interview with Argus, TNK president Simon Kukes described TNK's downstream goals. (Refining).(Interview)
December 20, 2002... The main aim of the Ryazan modernisation plant, says Kukes, is to boost the volume and quality of gasoline output with a particular emphasis on high-octane product. This is a growth product in Russia as consumers switch away from low-octane...

Sibneft increases borrowing. (Russia & CIS).(secures $150mn loan)(Brief Article)
December 20, 2002... Sibneft has further increased its borrowing on international markets by securing a $150mn loan. The new export-backed financing adds to the firm's placement of a $500mn eurobond in November. It will help Sibneft pay the Belarus government...

St Pete products down in November. (Russia & CIS).(St Petersburg oil terminal exported 659,000t of products in 11/02)(Brief Article)
December 20, 2002... The St Petersburg oil terminal exported 659,000t of products in November compared with 686,000t in the previous month. Average exports in November were 21,970 t/d, down fractionally on the 22,130 t/d exported in October, as exporters began...

Azerbaijan plans rail boost. (Caspian/central Asia).(crude and product shipments by rail through Azerbaijan forecast to reach 16.6mn t in 2003)(Brief Article)
December 20, 2002... Crude and product shipments by rail through Azerbaijan are due to reach 16.6mn t next year, according to Azeri railways. This is higher than a previous forecast of 15mn t. In January-November this year, they were 11mn t --up 600,000t on the...

Kazakh November refinery output. (Caspian/central Asia).(by firm and product type)(Brief Article)
December 20, 2002... Kazakh November refinery output '000t Total Atyrau Pavlodar Chimkent TCO Gasoline * 17.7 -- -- -- -- Gasoline 118.8 30.5 24.3 63.8 -- Gasoil 148.8 55.9...

Gazprom agrees long-term Uzbek deal. (Caspian/central Asia).(deal calls for Uzbekistan to supply gas to Gazprom in 2003-12 and Gazprom to help develop Uzbek gas fields)(Brief Article)
December 20, 2002... Russia's Gazprom and Uzbekistan's Uzbekneftegaz have agreed a deal on strategic co-operation in gas supplies. Uzbekistan will supply gas to Gazprom in 2003-12 under a deal sealed in Tashkent this week. And Gazprom will help develop Uzbek gas...

Croatia's Ina strikes gas in Syria. (Central/eastern Europe).(Brief Article)
December 20, 2002... Croatia's state-owned Ina has struck gas in Syria for the third time this year. Ina hopes production from its Palmyra-1 prospect will reach 1.5mn [m.sup.3]/d when it comes on stream in 2005. Next year, Ina plans to drill a total of six wells...

MN votes on new chief executive. (Baltics).(Mazeikiu Nafta)(Brief Article)
December 20, 2002... Directors of Lithuania's Mazeikiu Nafta (MN) on 19 December named Nelson English, a former first vice-president at US-owned El Paso, as their new director-general. A state economy ministry official said MN's controlling stakeholder, Russian...

Cold snap halts Ventspils loading. (Baltics).(fuel oil arrivals at Ventspils port are banned)(Brief Article)
December 20, 2002... Latvian railways has banned fuel oil arrivals at the port of Ventspils from 18 December until 24 December. The move comes as cold weather causes delays in unloading solidifying fuel oil, and as ships meeting higher safety standards have...

Russia and Azerbaijan to renew crude transit deal.(Brief Article)
December 20, 2002... Azerbaijan and Russia were due this week to renew their 1997 agreement on Azeri crude transit through the Baku-Novorossiysk pipeline until 2017. The deal was set for signing on 19 December during a Moscow visit by Azeri deputy-premier...

Frost delays Klaipeda exports.(Boldwin Maritime's oil tanker Princess Pia ran aground in Baltic Sea on December 16, 2002)(Brief Article)
December 20, 2002... The Argentinian-owned double-hulled oil tanker Princess Pia was towed into Lithuania's Klaipeda oil terminal on 16 December, five days after running aground in the Baltic Sea. There was no leakage from its 49,500t fuel oil cargo, and damage...

Mol, Yukos win Russian licence.(to form joint venture to develop Zapadno-Malobalyk field in western Siberia)(Brief Article)
December 20, 2002... Russia has awarded Russian oil giant Yukos and Hungarian oil company Mol a licence to establish a joint venture to develop the 145mn bl Zapadno-Malobalyk field in western Siberia. The partners decided to set up a joint venture in February,...

Kazakh bank sells Hurricane shares.(Central Asian Industrial Holdings sells 11% stake in Kazakhstan's Hurricane Hydrocarbons)(Brief Article)
December 20, 2002... Kazakh banking group Central Asian Industrial Holdings (CAIH) has sold an 11pc stake in Kazakhstan's third-largest oil producer Hurricane Hydrocarbons for C$121.9mn ($78.3mn). This has reduced CAIH's stake in the 118,000 b/d Canadian producer...

Looking ahead.(Russian and Eastern European oil and gas industry conferences for 2003)(Brief Article)
December 20, 2002... * GIOGIE. 13-14 March:. Tbilisi, Georgia. ITE. Tel: (44 20) 7596 5081 * North Caspian Oil & Gas. 15-17 April. Atyrau, Kazakhstan. ITE. Tel: (44 20) 7596 5081 * The 10th Annual Central European Gas Conference. 28-30 April. Zagreb,...

A year of untapped possibilities. (2002 in review).(Western firms remained interested in doing business in Russia in 2002)(Brief Article)
December 20, 2002... Western interest in doing business in Russia remained high, boosted by ever-rising crude output and exports. A number of partnership deals were signed, but the holy grail of workable PSA legislation remains as distant as ever. The Caspian...

Western investors mark time in Russia. (2002 in review).(lack of workable production-sharing agreement legislation is an obstacle for many potential oil industry investors)
December 20, 2002... In 2002, the potent combination of political and economic stability and a vast reserve base ensured that Russia remained high on the agenda for western oil firms desperate for new ways to deliver upstream growth. But for most, the solution to...

Yukos puts pressure on Lukoil. (2002 in review).(Yukos is trying to replace Lukoil as Russia's leading producer and exporter of crude oil)
December 20, 2002... Russian oil firms continued to burnish their images with an eye to securing strategic partnerships with western oil majors and possible future equity sales. And their vigorous corporate PR campaigns--coupled, for the most part, with solid...

Gazprom claws back assets. (2002 in review).(recovered assets stripped by previous chief executive)(Brief Article)
December 20, 2002... Gazprom chief executive Alexei Miller continued his campaign of recovering assets stripped during the administration of his predecessor Rem Vyakhirev. This resulted in the recovery of its controlling stake in producer Purgaz, which had...

Record crude exports reach new markets. (2002 in review).(Russian crude oil exports grew 12.5% to more than 3.1 mil bpd in 2002 vs 2001)
December 20, 2002... FSU crude exports look set to smash post-Soviet record highs in 2002, topping 4mn b/d (200mn t)--up by 16pc compared with 2001. Russian crude exports have grown by 12.5pc to top 3.1mn b/d as rapidly rising production has met stagnant...

Central and eastern Europe: a little less conversation ... (2002 in review).(oil industry overview)(Industry Overview)
December 20, 2002... In central and eastern Europe, larger oil firms looked to strengthen their position through the acquisition of smaller rivals. But much of this interest remains at the discussion stage, with little sign of concrete deals. In Poland, UK...

Caspian: BTC gets under way. (2002 in review).(Baku-Tbilisi-Ceyban crude oil pipeline)
December 20, 2002... The official start in September of preliminary construction of the proposed Baku-Tbilisi-Ceyban (BTC) crude pipeline promised to solve the Caspian export bottleneck once and for all. And the gradual ramping up of shipments through the Caspian...

All eyes on Slavneft. (Stock markets).(share prices)
December 20, 2002... Russian shares failed to emerge from the doldrums, despite a rally in crude prices following last week's Opec meeting in Vienna. The Russian Trading System (RTS) rose by 1.1pc to 346 points, tracking global equity indices downwards for most...

Government boosts Rosneft role. (News).(Rosneft will be Russia's last major state-owned oil firm after sale of Slavneft)
December 20, 2002... The Russian government appears to acting to improve the position of Rosneft, which after this week's Slavneft sale will be the last big state-owned oil company. Rosneft this week received the go-ahead from the government to start...

Slavneft at a glance. (News).(company profile)(Company Profile)
December 20, 2002... Sibneft and Tyumen Oil (TNK), the buyers of Slavneft (see p1), will inherit Russia's eighth-largest oil producer, together with some strategically well-placed refining assets. To an extent, Sibneft was already in the driving seat at...

Prices surge ahead. (Products market).(Russian oil products)
December 20, 2002... * Product prices were much firmer in the wake of huge rises on futures as the US contemplated interrupted supplies from Venezuela. Expensive freight hampered arbitrage economics. * Demand for Russian heating oil in northwest Europe has...

Venezuelan strikes boost crude. (Crude market).(prices for Russian crude oil)
December 20, 2002... * Crude prices shot up, with no end in sight to a three-week old general strike in key Opec producer Venezuela and continued speculation over the likelihood of a war in Iraq. Dated BFO ended the week $3.20/bl stronger and Urals rose in line....

Russian oil production.(for October 2002)
December 20, 2002... Russian crude production, October 2002 Oct Oct % chg '000t '000 b/d Sep 02 Vertically integrated oil companies 31,298.10...

Russian rail data.(oil and oil product imports and exports for November 2002)
December 20, 2002... Russian rail exports/imports, November 2002 '000t Crude % chg '000 b/d Oct Overland Afghanistan Armenia Azerbaijan...

Netbacks.(Russian crude oil netbacks)
December 20, 2002... Russian crude netbacks 18 Dec Ventspils Primorsk Butinge Urals (cif-fit) ($/bl) 29.21 29.21 29.21 Urals (cif-fit) ($/t) 213.23 213.23 213.23...

Transneft fights back: the pipeline operator still hopes to win the battle over routes to supply Russian crude to Asia-Pacific markets.
December 13, 2002... Transneft president Semyon Vainshtok is manoeuvring to ensure his company retains a leading role in Russian crude supplies to the Asia-Pacific region. Vainshtok is expected to meet President Vladimir Putin to argue once again the case...

One against many: Russia's oil firms have ganged up on Transneft boss Semyon Vainshtok. But he is preparing his response. (Editorial).(Editorial)
December 13, 2002... Just a few months ago the position of Transneft president Semyon Vainshtok seemed almost unassailable. But lately things have not been going his way. Russia's oil barons have thrown down a direct challenge to Vainshtok by proposing that...

Surqut bows out of Slavneft race. (News).(Surgutneftegaz said on December 11, 2002 that it will not bid for Slavneft)
December 13, 2002... The way now appears clear for Sibneft to take control of Slavneft, following the withdrawal of rival firm Surgutneftegaz from the race. Surgutneftegaz announced that it was pulling out on 11 December. "After a thorough assessment of...

PKN buys German retail stations from BP. (News).(Polish oil company PKN Orlen paid 140 mil euro for 494 stations)
December 13, 2002... Polish oil firm PKN Orlen has bought 494 service stations in Germany from BP for 140mn [euro] ($142mn). PKN will take over outlets in northern Germany that BP was ordered to sell by anti-monopoly authorities after it bought the Aral...

EU tanker ban creates arbitrage uncertainty. (Exports and trade).(European Commission proposal for ban on single-hulled fuel oil tankers visiting EU ports)
December 13, 2002... EU transport ministers have backed a proposal by the European Commission for an immediate ban on single-hulled fuel oil tankers entering EU ports. But it is unclear whether the ban will prevent movement of Russian fuel oil to Asia-Pacific in...

Russia's fuel oil export boom facing a setback. (Exports and trade).
December 13, 2002... Russian fuel oil exports to the Asia-Pacific region are booming, with as much as half of the supply emerging from the FSU heading east in recent months. But demand for Russian fuel oil, both in Asia-Pacific and in Europe, is under threat. ...

Transneft hopes for quality bank breakthrough. (Exports and trade).
December 13, 2002... Russian pipeline operator Transneft is continuing to work towards the introduction of a crude quality bank for oil shipped through its network. It would like to see the system, which would penalise or compensate crude producers according...

Russia seeks new routes to Europe. (Exports and trade).(Brief Article)
December 13, 2002... Russia's energy ministry has proposed a number of new ways for the Druzhba export pipeline to be integrated with pipeline systems in western Europe. Ministry officials say growing crude production in Russia and rising transit shipments...

Israel to tighten tanker regulations. (Exports and trade).(Brief Article)
December 13, 2002... Israeli state-owned oil firm ORL is to tighten up its rules for acceptable tankers. From January 2003 it will not accept deliveries in tankers built before 1978. It currently accepts well-maintained vessels built before this date. The...

Tengiz investment spat `resolved'. (News).
December 13, 2002... The ChevronTexaco-led Tengizchevroil (TCO) group has agreed a $3.3bn project investment programme with the Kazakh government, energy minister Vladimir Shkolnik told the Kazakh parliament in Astana this week. No further details were given...

Azerbaijan touts BTC stake. (News).
December 13, 2002... Azeri state-owned oil film Socar has pledged to sell a 10pc stake in the planned $2.95bn Baku-Tbilisi-Ceyhan (BTC) pipeline from Azerbaijan to Turkey to new investors. Socar has a 25pc share in BTC. The move is seen as a way to limit the...

Sakhalin I approves 2003 budget. (News).
December 13, 2002... The ExxonMobil-led Sakhalin I consortium has approved a 2003 budget of $1.24bn for development of the offshore project in Russia's far east. The Sakhalin I partners plan next year to upgrade their Orlan drilling rig at the Amur shipyard,...

Turkmen no-show halts Caspian talks. (News).
December 13, 2002... The five Caspian littoral states have failed to convene for the latest round of talks in Baku on sharing the sea and its resources. Officials from Turkmenistan pulled out ahead of the 10-11 December meeting citing the need to attend their...

Government OKs Gazprom investment. (News).
December 13, 2002... The Russian government has approved Gazprom's $5.7bn (Rbs179.7bn) investment programme for 2003. It has also authorised Gazprom to make long-term investments worth $430mn. Gazprom management had initially sought approval for total...

Sibneft resumes Moscow shipments. (Russia & CIS).
December 13, 2002... Sibneft is to resume crude shipments to the 242,000 b/d Moscow refinery, which is operated by Moscow Oil Company (MOC). This month it will deliver of 330,000t (80,000 b/d) of crude. The company was dropped last month from the list of crude...

Transneft calls for tariff freeze. (Russia & CIS).
December 13, 2002... Crude pipeline operator Transneft has put in a request to the federal energy commission (FEK)--the state body in charge of tariffs for natural monopolies--for its tariffs to be frozen at this year's level. Transneft explains its request by...

PSA investors sound alarm bell.(production-sharing agreements)
December 13, 2002... There is growing concern that the long-awaited production-sharing agreement (PSA) chapter of Russia's tax code will not be passed this year, if at all. The Petroleum Advisory Forum, which represents the interests of foreign investors,...

Yukos recommends $400mn dividend. (Russia & CIS).
December 13, 2002... The board of directors at Yukos has authorised an interim dividend of Rbs12.75bn ($400mn) for the first nine months of this year. This equates to Rbs5.70/share. Subject to approval at a 31 December shareholder meeting, the firm will pay out...

Russian refinery prices, December 2002.
December 13, 2002... Russian refinery prices, December 2002 Rbs/t Gasoil Fuel oil Refinery Winter Summer M-40 M-100 E-4 Ukhta 7,200 6,700 ...

Gazprom lifts Itera transit curbs. (Russia & CIS).
December 13, 2002... Gazprom has lifted all restrictions on deliveries of Turkmen gas to CIS countries by Russian trader Item after it repaid debt owed to Gazprom for October, the. gas monopoly says. The sum was not disclosed, but Gazprom had already said Itera...

Lukoil looks to increase Yalama. (Caspian/central Asia).
December 13, 2002... Lukoil looks to increase Yalama Lukoil has asked Azeri state-owned company Socar--its partner in the offshore Yalama oil field project--to increase the size of the area to be developed. Lukoil has a 60pc share of the venture alongside Socar...

United Financial Group. [correction].
December 13, 2002... Due to a technical error, attribution was omitted from two charts in the article "Missing link for independent producers" that appeared on page 10 of FSU Energy on 29 November. Argus is happy to take this opportunity to thank United Financial...

Azeri November crude output rises. (Caspian/central Asia).
December 13, 2002... Azerbaijan produced 317,000 b/d (2.29mn t) of crude in November, compared with 313,000 b/d in October. The BP-led AIOC international consortium produced 133,000 b/d from the Azeri-Chirag-Guneshli offshore block. Azeri state-owned oil company...

Mazeikiu output falls. (Baltics).
December 13, 2002... Lithuanian oil firm Mazeikiu Nafta (MN) processed 5.95mn t (130,000 b/d) of crude at its 263,000 b/d Mazeikiai refinery in January-November (see table). November loadings at the company's Butinge crude terminal were up sharply. They rose by...

Sibneft gains on Slavneft prospects. (Stock markets).
December 13, 2002... Russian shares drifted lower on the back of weaker worldwide equity markets and an uncertain picture for crude prices. The Russian Trading System closed 1pc down at 343 points, only briefly testing the 350-point level. Oil stocks were...

Government promises oil sector progress. (Romania).
December 13, 2002... Romania's government hopes to complete the much-delayed sale of a majority stake in oil firm Petrom next year. It recently appointed a CSFB-ING Barings consortium as privatisation consultant. The president of Romania's state property and...

Natural gas opens up. (Romania).
December 13, 2002... Change is afoot in Romania's natural gas sector, with the market gradually opening up and the country's two distribution companies scheduled for privatisation. A consultant is shortly to be selected for the sale of stakes in Distrigaz...

Tight shipping hinders exports. (Products market).
December 13, 2002... * Fuel oil arbitrage to the Asia-Pacific region was wide open and transatlantic demand offered equally lucrative opportunities to sellers of Russian gasoil. This boosted prices and demand fundamentals remained strong. But a lack of...

Black Sea storms boost Urals in Med. Crude market).
December 13, 2002... * Black Sea port closures and further delays in the Bosporus dominated the market in the Mediterranean, where Urals' discount to dated Brent narrowed by 8 cents/bl over the week. In northwest Europe, Urals gained sharply on rises in North Sea...

FSU crude offtakers.
December 13, 2002... Crude export offtakers, November 2002 Producers Offtakers Volume (`000t) Novorossiysk Lukoil Lukoil Petroleum 580.8 Lukoil Litasco...

Netbacks.
December 13, 2002... [GRAPHICS OMITTED] Russian crude netbacks 11 Dec Ventspils Primorsk Butinge Urals (cif-fit) ($/bl) 26.04 26.04 26.04 Urals...

Russia and China unite on Iraq: a Russian presidential delegation was in Beijing this week. Iraq was high on the agenda.
December 6, 2002... Russian president Vladimir Putin and his Chinese counterpart Jiang Zemin met this week in Beijing to discuss energy issues. The main focus of the talks appears to have been both countries' interests in Iraq. The Putin-Jiang talks follow...

Bottom of the barrel: threatened EU restrictions could impede long-haul export prospects for Russia's rising fuel oil output. (Editorial).
December 6, 2002... The spectacle this week of the French, Spanish and Portuguese navies enforcing a 200-mile "cordon sanitaire" around their respective coasts was a grim one for exporters of fuel oil from the Baltic ports. But if there is one thing--other...

Foreign interest in Slavneft emerges. (News).
December 6, 2002... BP and China's CNPC appear to have unexpectedly emerged as potential bidders for the 75pc state stake in Slavneft due to be sold on 18 December. Both firms have made requests to Russia's anti-monopoly ministry for permission to bid,...

Ministries delay Talakan auction. (News).
December 6, 2002... Russia's natural resources and economic development ministries this week delayed indefinitely the planned auction of the Talakan oil and gas field in eastern Siberia. In a letter to prime minister Mikhail Kasyanov, economic development...

Lukoil executive's father kidnapped. (News).(vice-president Vagif Sharifov)(Brief Article)
December 6, 2002... The 78-year-old father of a senior Lukoil executive has been kidnapped in Georgia. Sadi Sharifov, the father of Lukoil vice-president Vagif Sharifov. was abducted from his home on 4 December. The development comes just two months after the...

Gazprom targets the UK. (Natural gas).
December 6, 2002... Gazprom is aiming to expand its presence in the UK gas market, the firm's head Alexei Miller said at a presentation in Moscow this week on the North European Gas Pipeline project. The gas giant revealed plans to ship up to 30bn...

OMV eyes new gas route. (Natural gas).
December 6, 2002... Austria's OMV has joined forces with a number of central and east European energy firms to study the feasibility of transporting gas to its home market from Turkey. The partners--which include Turkey's Botas, Bulgaria's Bulgargaz,...

Rosneft clears the decks for Kurmangazy. (News).
December 6, 2002... Rosneft and Kazakh state-owned firm Kazmunaigaz last week signed an agreement to develop Kazakhstan's Kurmangazy field under a production-sharing agreement (PSA). But there appears to be much scope for disagreement between the two sides over...

Kazakhstan wants equal treatment. (News).
December 6, 2002... Kazakhstan is dragging its feet over signing a protocol with Russia on crude transit for next year. State-owned pipeline operator Kaztransoil, the sole shipper for Kazakh producers, is demanding a more flexible transit schedule....

Crude exports edge up. (Exports & trade).
December 6, 2002... Exports of crude through Russia's Transneft pipeline network edged up to 2.95mn b/d (12.14mn t) in November, up by 21,000 b/d from October. Shipments would have been higher still had exports from Russia's key Black Sea port of...