Topic Of The Week
Black Sea Expeditions
There has been a consistent trend recently: as soon as news breaks about the activity of foreign oil and gas companies offshore in the Black Sea, or problems in gas talks with Russia emerge, Ukrainian state officials announce plans to send expeditions to the Black Sea to search for energy treasures. What has changed in the development of the Ukrainian part of the Black Sea shelf?
Applicants to enter into production sharing agreements (PSAs) for the Yuzovska and Oleska shale gas fields were made public last Monday. According to Environment and Natural Resources Minister Eduard Stavytsky, U.S. company Chevron and Italy’s Eni applied for Oleska field, while U.S. company Exxon Mobil, Dutch-British Shell and Russian-British TNK-BP have set their sights on the Yuzovska field.
Who Is To Blame?
The activity of officials from the State Inspectorate of Ukraine for the Protection of Consumer Rights has hit historical records of late. The Sumy-based Oxalyt LLC oil trader happened to be in the center of an anti-counterfeit campaign to find the distributors of faux fuel. The company was convicted of selling low-quality high-octane petrol, but a few weeks later it was able to regain its reputation in court.
Will West Oil Group Pay Its Bills?
As Terminal has learned, Volyn region’s economic court on April 12, 2012, began proceedings in which Kyiv-based PJSC Forum Bank sued for the recovery of $7.9 million from Lutsk-based West Oil Group LLC…
The European Bouquet
The attention of the markets is again locked on Europe. It has everything – the nerve-tingling intrigue over the presidential election in France, governmental debates on budget austerity in the Netherlands, and speculation about the possible deterioration of the situation in Spain with the downgrading of its sovereign rating – a full bouquet of impressions. It’s hardly been China that has been the source of bad news for a couple of weeks… and hardly Iran. Hopes of an aggravation in the situations with the latter have been in vain…
Stability In Question
According to economic forecasts given by the Psyche Center on the basis of its regressive analytical model, this week prices of major petrol brands will rise by up to 10 kopecks per liter.
Nuances Of Measurement
To make measurements of the trade on the domestic and foreign crude oil markets, you have to know what units are used. In keeping with the accepted rules of international trade, the basic unit that determines price levels is a barrel of U.S. crude oil, or bbl, which equals 42 U.S. gallons or 158.984 liters…
Ukrnafta Posts Revenues
The country’s largest oil producing company, Ukrnafta, announced its financial results for last year and the first quarter of this year, in keeping with Ukrainian accounting standards. In particular, the company posted a gross profit of UAH 3.929 billion, which was 19% lower than in 2010. One of the factors behind the decline was an increase in oil royalties…
You can read full articles in journal «Terminal: Oil Review» №17(603) 30 Apr 2012