Page 13 - FSUOGM Week 25

FSUOGM
NEWS IN BRIEF
FSUOGM
Geological information collected over the past few years has allowed us to get the complete picture on the Chonsky blocks, and we plan to start pilot development as soon as 2020.”
Gazprom Neft (Russia), June 20 2019
Gazprom and Fortum
discuss bilateral
cooperation
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Pekka Lundmark, President and CEO of Fortum, took place in St Petersburg today.
e parties discussed the issues related to their bilateral cooperation, including joint e orts in the eld of power generation. Fortum is a Finnish energy concern that owns 29.5% of TGC-1, part of the Gazprom Energoholding group. Fortum holds a 49.99% stake in Germany’s Uniper, as of December 31 2018.
Gazprom (Russia), June 25 2019
Rosneft Aero wins tender
to fuel Turkish Airlines at
Russian airports
Rosne Aero, the operator of the jet- fuelling business of Rosne Oil Company, has been awarded a tender for fuelling the aircra eet of the largest Turkish air carrier Turkish Airlines in Russian airports until 2020.
e contract states that the into-plane refuelling is to be performed in Vnukovo (Moscow), Koltsovo (Yekaterinburg), Kurumoch (Samara), and Platov (Rostov-on- Don). e total volume of the jet fuel supplies to Turkish Airlines will amount to 34,500 tonnes.
By choosing Rosne Aero, air carriers consider such criteria as high quality of services, good timing of refuelling, and package proposals in airports. Rosne covers almost all regions of Russia due to its wide network of re neries and manages direct supplies to a range of foreign airlines and most Russian air carriers.
e cooperation of Rosne Aero and Turkish Airlines started in 2012 and continues to develop successfully. Soon, the parties intend to expand the geography of their joint activities on mutually bene cial terms.
Rosneft (Russia), June 21 2019
EASTERN EUROPE
Belarus reports $130mn loses from Russian ‘tax maneuver’ in oil sector in January-May
e Belarusian economy lost around $130mn in January-May due to the ongoing ‘tax manoeuvre’ in the Russian oil industry, according to Svetlana Gurina, deputy head of state-owned oil and petroleum conglomerate Belne ekhim.
“If we talk about this year, in the rst ve months the Belarusian economy lost about $130mn due to the ‘tax manoeuvre’,” state news agency BELTA quoted her as saying on June 25.
She added that Belne ekhim has calculated consequences of the tax manoeuvre for the period till 2024, has studied the experience of work of other landlocked oil re neries that buy oil at global prices, and has come up with a model of development of the Belarusian oil re ning industry for the next six years. In 2024 oil price per tonne is expected to be $127.7 higher than that in 2018 (with the oil price per barrel at $70).
Belarus faces a new economic crisis if Minsk fails to secure full compensation from Russia for losses triggered by the latter’s new energy taxation system (the so-called ‘tax manoeuvre’).
According to the Belarusian nance ministry, the country’s budget revenue losses from the tax manoeuvre in 2019 alone were estimated at BYN600mn ($300mn), and that the losses might total $2bn by the end of 2024. However, in December, Lukashenko’s spokesperson said in a televised interview that Minsk already lost $3.6bn due to Russia’s cut of energy subsidies to Belarus.
Due to Moscow’s tax manoeuvre Belarus will lose extra $11bn within the next four years, the spokesperson added. The tax manoeuvre shifts the tax burden from export duty on oil and petroleum products to mineral extraction tax (MET) on oil production. It envisages a gradual reduction in the rate of export duty on oil and petroleum products from 30% to zero in the period from 2019 to 2024 and a proportionate increase in MET.
bne IntelliNews, June 26 2019
Ukraine pro-Russian MP
concentrates 82% of Regal
Petroleum
Smart-Holding, controlled by Ukrainian pro-Russian MP and businessman Vadim Novinsky, increased its stake in the gas and oil E&P company Regal Petroleum to 82.65% from 54.00%, the holding reported on June 21.
e transaction involved Smart-Holding’s subsidiary, Pelidona Services, purchasing the entire Regal stake in Kylestone Limited, a company controlled by Ukrainian oligarch, Victor Pinchuk, according to Interfax.
Commenting on the deal, Smart-Holding reported that it won’t a ect neither Regal’s corporate governance nor its status of a publicly listed company. Pelidona is also not intending to continue any purchase of Regal shares on the market, the holding said.
“Regal Petroleum is demonstrating good production results and will continue to remain the basis of the gas production direction of Smart-Holding,” the company added in a statement.
Alexander Paraschiy at Kyiv-based brokerage Concorde Capital believes that Pinchuk’s presence in Regal Petroleum, which also controls another small gas E&P company, could have created the potential for a con ict of interest. “ erefore, Pinchuk’s exit looks encouraging for Regal’s business and its potential to increase value for its shareholders.”
bne IntelliNews, June 26 2019
Slovakia confirms no
spoiled Russian oil in its
pipelines
Slovakia con rmed that oil transit via its territory are now back to normal. ere has been no contamination of the oil owing through the Druzhba pipeline to the Slovna re nery in Bratislava, which has been receiving and processing oil without any restrictions, according to the state- owned oil operator Transpetrol, as reported by Reuters on June 25.
“Transpetrol, along with its trading partners, is analysing the situation and examining oil samples constantly,” said company o cials, quoted by the Slovak News Agency, adding
that the samples are also sent to Czech re ner Unipetrol, which carried out an audit and that, “the sample tests by Unipetrol showed that
all values are in order. Receiving oil from the Druzhba oil pipeline to Unipetrol should be
Week 25 26•June•2019
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