Page 13 - FSUOGM Week 45 2019

FSUOGM
NEWS IN BRIEF
FSUOGM
RUSSIA
Russia mulls considering
cutting naphtha subsidies
to increase those for LPG
The Russian government may reduce incentives for naphtha production as it looks for new sources to fund subsidies for LPG production, Moscow-based business daily Kommersant reported on November 6, citing sources.
The naphtha subsidy now stands at RUB13,000 per tonne, including a RUB9,700 excise refund and a RUB3,200 customs duty subsidy. A source with knowledge of the situation told Kommersant that the incentive could be cut to about RUB9,000.
The Energy Ministry earlier offered to set a two-part excise refund on LPG – a RUB4,200 refund of operating costs and a RUB3,100 investment refund to support margins of new pyrolysis capacities.
November 6 2019
Gazprom’s electronic platform sells 15 bcm of gas
Gazprom’s electronic sales platform (ESP) for gas in Europe had sold more than 15bn cubic metres of gas by the end of trading on November 11 since its launch in September
2018, according to Vedomosti. Some 13 bcm of gas was sold this year alone, of which around 75% was delivered to customers at dispatch points in Austria and Germany. The record monthly amount sold on ESP was 2.8 bcm in July.
November 12 2019
Russia plans December
auction for Bukharinsky
block
The Federal Mineral Resources Agency will auction off rights to the Bukharinsky gas condensate block a starting price of RUB2.133bn on December 27, it said in a statement on November 12. Bids will be accepted until December 13.
The block is 2,447.4 square km in size
and is located on the shore of the Gydan Peninsula. It is estimated to hold 213bn cubic metres of gas and 44mn mt of condensate in prospective and forecasted resources.
November 12 2019
Rosneft unit finds new oilfield in Western Siberia
RN-Uvatneftegaz, a Western Siberian subsidiary of Rosneft, has discovered a new oilfield in the Khanty-Mansiysk
region containing 4.2mn tonnes of crude in C1+C2 resources.
According to Rosneft, the Sosnovoye field was identified when an exploration well struck oil, flowing at a rate of more than 22 cubic metres per day. Sosnovoye lies within the Yugansky-12 block.
RN-Uvatneftegaz plans to conduct a 3D seismic survey at the site and drill two more exploration wells.
November 13 2019
CENTRAL ASIA & SOUTH CAUCASUS
MOL upgrades Ebidta
guidance for 2020 after
Azerbaijan deal
Hungarian oil and gas company MOL raised its guidance for 2020 Ebitda, cleared of one- off effects and adjusted for current cost of supply (CCS), to $2.4bn-2.6bn in an investor presentation on November 7.
MOL said it upgraded the guidance
to reflect the contribution of its recent acquisition of exploration and production as well as midstream stakes in Azerbaijan.
In the Q3 report, the company upped guidance for 2019 clean CCS Ebidta to $2.4bn from $2.3bn on improved oil prices and
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