Gazprom: ` Crude Oil Produced in Arctic Circle on First Tanker Purchased by One of Europe’s Major Energy Companies ‘

#AceFinanceNews – MOSCOW – April 19 – April 19 – Russia’s oil and gas monopoly Gazprom has disclosed the brand name by which crude oil, produced at the Prirazlomnaya rig inside the Arctic circle, will be known in the world markets.

The announcement came shortly after the first tanker with ARCO (Arctic Oil) left the platform carrying an oil load purchased by one of Europe’s major energy companies.

The marketing of the new brand was held among downstream companies in North Western Europe in the first quarter of 2014. As production at Prirazlomnaya grows, part of the crude will begin to be provided on the basis of long-term contracts.

“Gazprom has opened a new stage in the development of the Russian oil industry. The first consignment of Prirazlomnaya oil is on the way to the customers. From this moment on the investments in the project are beginning to pay back,” Gazprom CEO Alexei Miller said. “Today’s event is of great importance to strengthening Russia’s positions in the world oil market. We have enhanced the flexibility and reliability of oil supplies to practically any point on the globe,” he said.

The Prirazlomnoye oil deposit lies under the Pechora Sea 60 kilometres away from the coastline (the depth of the sea in this area is 19-20 meters). Recoverable oil reserves are estimated at 71.96 million tonnes. The design output – about six million tonnes a year – will be achieved after 2020.

Gazprom began oil production in the area from the off-shore ice-resistant stationary platform on December 20, 2013. More than 300,000 tonnes of oil from this deposit is to be shipped this year.

OJSC Gazprom Neft is the project’s operator, and Gazprom Neft Shelf (a 100-percent Gazprom-owned company) is the subsoil user.

Russian and Oil News

#AFN2014

#arco, #gazprom, #prirazlomnaya

#AceFinanceNews ANKARA April 18 Turkey’s Minister of Energy…

#AceFinanceNews – ANKARA – April 18 – Turkey’s Minister of Energy and Natural Resources Taner Yildiz has said Turkey would like to discuss possible discounts for the Russian gas current price at the upcoming talks scheduled for next week.

“The agreement, we signed with the Russian side, offers to us a right to request revision of gas prices. We shall pass the request to Gazprom’s representatives,” Yildiz said on Friday.

Russia was Turkey’s biggest gas supplier, he said.

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#AceFinanceNews MOSCOW April 14 Eight billion cubic meters…

#AceFinanceNews – MOSCOW – April 14 – Eight billion cubic meters of gas in Ukraine’s underground storage facilities is enough for three months’ uninterrupted transit of Russian natural gas to Europe, parliament-appointed Minister for Energy and Coal Yuriy Prodan told Bulgarian national radio on Monday.

“Within a certain period of time, up to three months, Ukraine will be able to ensure gas transit to European countries. Within this period of time we must consider the issue of gas pumping and settle it before June,” the minister said.

However, according to Russian President Vladimir Putin, Ukraine needs about 11 billion cubic meters in underground storage to guarantee uninterrupted transit of Russian gas to Europe, he told European leaders in a letter last Friday. Under the current price for Russian gas of $485.5 per 1,000 cubic meters, up to $5 billion will be needed.

Currently, 7.2 billion cubic meters is in underground storage, head of Ukraine’s national oil and gas company Naftogaz Andriy Kobolev has reported. According to Russian supplier Gazprom, 6.5 billion cubic meters lay underground on April 9.

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#ans2014, #bulgarian, #europe, #gazprom, #moscow, #naftogaz, #russian, #russian-president-vladimir-putin, #ukraines

#AceBreakingNews VIENNA April 11 EUROPEAN UNION EU Commissioner…

#AceBreakingNews – VIENNA – April 11 – EUROPEAN UNION – EU Commissioner for Energy Gunter Oettinger is drafting proposals for how to pay off Ukraine’s debt to the Russian supplier of natural gas, OAO Gazprom, Oettinger said Friday speaking to O1 Austrian Public Radio as he visited Vienna.

He said along with it he personally thought that only a part of the bills Gazprom had issued to Ukraine contained grounded total sums to be paid.

#AFN2014

#austrian, #eu, #gazprom, #russian, #ukraine, #ukraines, #vienna

` Ukraine Suspends Natural Gas Intake from Russia as Result of Gas Hike and said it will Resume at Right Price’

#AceFinanceNews – UKRAINE – April 10 – (Neurope) – Ukraine has suspended natural gas intake from Russia since April 1 as a result of a price hike, the country’s Energy Minister Yury Prodan said Wednesday.

 "We are not pumping Russian gas today, but we still have time to resume the appropriate gas flows," Prodan told a media briefing.

 The suspension came after Russian gas monopoly Gazprom cancelled discounts on natural gas supplies to Ukraine, citing Kiev's non-fulfilment of its debt obligations and "changing circumstances" over Crimea.

 Russia set the price of gas to Ukraine at 485 U.S. dollars per 1,000 cubic meters.

 Prodan said his country is ready to resume gas imports from Gazprom if Moscow returns to the price of 385 dollars.

As of early April, Ukraine’s accumulated debt for gas supplies from Russia topped 2 billion dollars.

 In 2010, Russia and Ukraine signed a gas-for-fleet agreement, with Moscow offering a discount for gas in exchange for extending its lease of the Black Sea Fleet in Crimea for another 25 years.

 The Kremlin said the pact was no longer valid as Crimea joined Russia after a referendum last month. 

#AFN2014

#crimea, #discounts, #energy-minister-yuri-prodan, #gas, #gazprom, #imports, #kiev, #moscow, #russia, #russian, #ukraine

` Russia's `Gazprom ' Signs Agreement with `Kyrgyzstan ' on `Purchase ' of 100% of Shares Kyrgyzgaz at $1 '

#AceFinanceNews – BISHKEK – April 10 – Russia’s Gazprom natural gas monopoly on Thursday signed with Kyrgyzstan an agreement on the purchase of 100% of shares of Kyrgyzstan’s debt-ridden state gas company Kyrgyzgaz for $1.

The new Gazprom unit will be called Gazprom-Kyrgyzstan, Gazprom CEO Alexei Miller said. According to him, “the main goal of the new company will be to ensure uninterrupted supply of natural gas in the needed volumes to Kyrgyz consumers.”

Under the bilateral agreement, Gazprom will allocate at least 20 billion rubles within 5 years for the modernization of gas distribution networks of Kyrgyzstan the length of which is some 700 kilometers.

“We also intend to resume geological prospecting work in Kyrgyzstan in order to raise the republic’s potential. Today, the country produces less than 30 million cubic meters of gas, and we intend to increase this share, as well as the number of gas consumers in Kyrgyzstan,” Miller said.

Russian Oil and News Sources

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#gazprom, #kyrgyzgaz, #kyrgyzstan, #russias

` Ukraine Will Pay $268 US-Dollars then Repay their Debt and Does Not Accept Russia’s Decision to Raise Price ‘

#AceFinanceNews – KIEV – April 05 – Ukraine is ready to buy Russian natural gas at a price of 268 U.S. dollars per 1,000 cubic metres, parliament-appointed Prime Minister Arseny Yatsenyuk said on Saturday, April 5.

He said Ukraine “does not accept” Russia’s decision to raise the price of gas from April 1 and regards it as “political pressure”.

“Political pressure will not pass. We do not accept the price of 500 U.S. dollars. Ukraine is ready to continue buying natural gas at the price that was in effect since the beginning of the year – 268 U.S. dollars. This is an acceptable and balanced price,” Yatsenyuk said.

He reiterated Kiev’s readiness to “make all payments for the previous gas supplies” and was waiting for Russia’s reply.

Gazprom CEO Alexei Miller said on Saturday that “the debt situation cannot continue endlessly. We cannot supply gas for free. The debt must be paid. And current deliveries must be paid in full, too. ”
He stressed that the debt was growing by the month and now only 20 percent of payments were collected, compared to about 50 percent just recently.

As a result, “Ukraine’s debt to Russia will grow by 5.6 billion U.S. dollars by the end of the year.
This is a huge amount of money. This is a very tangible negative result for Gazprom,” he said, adding that this money was already included in the company’s investment plans and budget.

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#ans2014, #arseniy-yatsenyuk, #ceo-alexei-miller, #gazprom, #kiev, #russia, #russias, #russian, #ukraine, #ukraines

Russians Energy Minster says ` Domestic Gas Prices in `Europe ' Could Rise by 50 Percent if it Cut's Supplies from Russia '

#AceFinanceNews – EUROPE – April 04 – (RT) – “Moving away from pipeline transportation of natural gas, construction of terminals and deliveries of liquefied natural gas will lead to an increase in gas prices in Europe from the current $380 per 1,000 cubic metres to at least $550,” Novak said in an interview to the Russia 24 TV Channel.

“And the question arises: are the economies of European countries ready to supply and consume gas at such a price?” the Minister asked.

The US has insisted that Europe needs to urgently cut its dependence on Russian gas, with the US Secretary of State John Kerry saying Moscow should no’t use energy exports as a political weapon.

“It really boils down to this: no nation should use energy to stymie a people’s aspirations,” Kerry said in Brussels on Thursday, the same day Russia’s Gazprom increased the price to Ukraine another $100 per 1,000 cubic metres.

On Wednesday the US and EU reaffirmed their plan to move away from Russian gas, stressing that developments in Ukraine “have brought energy security concerns to the fore” .

Meanwhile, Russian energy companies have started to feel the pulse in markets outside Europe, mostly focusing on Asia.

Gazprom talked to Kuwait and Egypt about increasing LNG supplies and hopes to sign a long-term supply deal with China next month.

Also, the president of Russia’s oil major Rosneft has toured Japan, South Korea, Vietnam and India.

RT – INS – IT

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#ans2014, #asia, #china, #egypt, #eu, #europe, #european, #gazprom, #india, #japan, #john-kerry, #kuwait, #moscow, #rosneft, #russia-24-tv-channel, #russias, #russian, #south-korea, #ukraine, #vietnam

` Top Russian Officials push to Remove the `Petrodollar ' in Favour of other `BRICS' or Alternative Currencies '

#AceFinanceNews – Worldwide News – April 04 – (INS) – The existence of “petrodollars” is one of the pillars of America’s economic might because it creates a significant external demand for American currency, allowing the US to accumulate enormous debts without defaulting.

If a Japanese buyer want to buy a barrel of Saudi oil, he has to pay in dollars even if no American oil company ever touches the said barrel. Dollar has held a dominant position in global trading for such a long time that even Gazprom’s natural gas contracts for Europe are priced and paid for in US dollars.

Until recently, a significant part of EU-China trade had been priced in dollars.

Lately, China has led the BRICS efforts to dislodge the dollar from its position as the main global currency, but the “sanctions war” between Washington and Moscow gave an impetus to the long-awaited scheme to launch the petroruble and switch all Russian energy exports away from the US currency .

The main supporters of this plan are Sergey Glaziev, the economic aide of the Russian President and Igor Sechin, the CEO of Rosneft, the biggest Russian oil company and a close ally of Vladimir Putin. Both have been very vocal in their quest to replace the dollar with the Russian ruble.


Now, several top Russian officials are pushing the plan forward.

First, it was the Minister of Economy, Alexei Ulyukaev who told Russia 24 news channel that the Russian energy companies must should ditch the dollar. “ They must be braver in signing contracts in rubles and the currencies of partner-countries, ” he said.

Reuters reports, that Russia is close to entering a goods-for-oil swap transaction with Iran that will give Rosneft around 500,000 barrels of Iranian oil per day to sell in the global market. The White House and the russophobes in the Senate are livid and are trying to block the transaction because it opens up some very serious and nasty scenarios for the petrodollar. If Sechin decides to sell this Iranian oil for rubles, through a Russian exchange, such move will boost the chances of the “petroruble” and will hurt the petrodollar.

VOR – Russian and Serbian News – INS

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#ans2014, #american, #brics, #china, #eu-china, #gazprom, #petrodollars, #petroruble, #rosneft, #russian, #saudi, #us

` Naftogaz Ukrainy's Debt to ` Gazprom ' has Risen to an Estimated $2.2 Billion with Due Account in March '

#AceFinanceNews – MOSCOW – April 03 – Ukrainian domestic joint stock company Naftogaz Ukrainy’s debt to Russian gas giant Gazprom is estimated at more than $2.2 billion with due account of March gas supplies, Gazprom said in a statement upon results of a meeting between CEO of Russian and Ukrainian energy companies Alexei Miller and Andrei Kobolev in the Russian capital on Thursday.

Also the price of gas for Ukraine is set at $485 per 1,000 cubic meters as of April 2014, Gazprom CEO Alexei Miller said.

Russian Finance and Oil News

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