Page 15 - FSUOGM Week 26

FSUOGM
NEWS IN BRIEF
FSUOGM
RBC daily reported on July 2 citing the data by the Moscow Fuel Association.
In November 2018, amid ongoing concerns over high gasoline prices, Russian oil companies agreed to lower the wholesale gasoline and diesel prices and then freeze them, adding to the regulatory uncertainty in the downstream segment. e deal was later prolonged until the end of June.
Reportedly as of July 1, when the deal lapsed the prices for diesel and gasoline increased by up to RUB0.14 per litre compared with the previous week. Among the lling stations raising the prices were those controlled by oil majors Lukoil, Gazprom Ne and Shell.
On July 1 2019, Prime Minister Dmitry Medvedev warned that should the fuel prices rise considerably, the government will revise the unpopular idea of introducing high excise duties for exports of oil products.
Previous reports claimed that Russian
oil majors lost about RUB55bn ($0.8bn) since the beginning of 2019 by supplying
oil products and motor fuel to the domestic rather than the foreign market, as demanded by the government.
bne Intellinews, July 2 2019
Tatneft oil output up 3.9% in 6M-2019
Oil production at Russia’s Tatne rose
3.9% y/y to 14.667mn tonnes in the rst six months of 2019, according to a company statement issued on July 2. Including
subsidiaries and joint ventures, output climbed 3.8% to 14.829mn tonnes. Tatne alone produced 2.494mn tonnes in June, while the larger Tatne group produced 2.519mn tonnes.
Tatne is one of Russia’s biggest oil producers and is based in Tatarstan.
July 2 2019
Surgutneftegas re-elects chairman
e board of directors at Russia’s Surgutnefetgas has re-elected Vladimir Yerokhin as its chairman, according to a company statement on July 2. Yerokhin rst took on the role in December 2007, following the resignation of his predecessor Nikolai Zakharchenko. e board also re-appointed Nikolai Matveyev as deputy chairman – a position he has held since June 2018.
Privately-run Surgutne egas is Russia’s fourth biggest producer, with its activities largely concentrated in the Surgut region of Western Siberia.
July 2 2019
Polish operator says now
receiving clean Russian oil
via Druzhba
Non-contaminated Russian oil is arriving in
Poland via all three threads of the Druzhba oil pipeline, Polish pipeline operator PERN said in a statement on July 2.
“Oil has been sent to the Adamowo acceptance point via all the three threads of the Druzhba pipeline since the start of July,” it said. “According to the roadmap, oil will be pumped with lower pressure in the rst half of July. Higher performance can be expected in the second half of the month.”
Transne spokesman Igoy Dyomin announced on July 1 that Druzhba had fully resumed operations, more than two months a er it was discovered that oil in the pipeline had been contaminated with organic chlorides, leading to its shutdown.
July 2 2019
SOCAR to resume oil
exports via Baku-
Novorossiysk pipeline
Azerbaijan’s state-owned SOCAR plans to resume oil export via Baku-Novorossiysk oil pipeline this week.
“Export of Azeri oil via Baku-Novorossiysk pipeline is currently not carried out,” Ibrahim Ahmadov, Deputy Head of Public Relations
at SOCAR, told local media. “SOCAR will resume export via the ‘northern’ route this week.”
Earlier, Sergey Andronov, Transne Vice President, said that SOCAR would resume oil transportation via Baku-Novorossiysk pipeline starting from July 1.
Andronov said SOCAR had applied to transport 320,000 tonnes of oil using the pipeline in the third quarter.
e Baku-Novorossiysk pipeline is capable of owing 5mn tonnes per year of oil, but it has been underutilised for several years. SOCAR exported 1.2mn tonnes along the route in 2018.
July 2 2019
Ukraine’s Kremenchug
refinery to set receive US
crude
Ukrainian oil re ner Ukrtatna a is awaiting the arrival in Odeesa of the Wisdom Venture tanker, which is laden with 75,000 tonnes
of oil from the US, according to a report
by Ne eRynok. e supplies should reach Ukrtatna a’s Kremenchug oil re nery in September or later.
“It is clear that the surplus of oil produced in the US allowed traders to make a historic
Week 26 03•July•2019
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