Topic Of The Week
«What Reserves Are Needed?»
The idea of forming either reserves or stocks of either crude oil or petrol cannot be considered as new – it has been actively discussed since the late 1990s. But today, fifteen years later, not only politicians and journalists, but also analysts and experts have no clear idea what to buy, and where, how much to store, and where, when to use it, and in what way, and where the difference between strategic reserves and stabilization stocks lies…
Officially
Taking Advantage
Oil from the Druzhba trunk pipeline has started flowing into the Baltic pipeline system. In particular, on April 11, 2012, Russian oil companies LUKOIL and Rosneft announced that they would not supply crude oil to the Czech Republic in the second quarter because the country did not place any orders. Thus, the amount of oil designed for Czech consumers will be funneled into other export directions…
Anti-counterfeit Campaign
Private Group Will Fight For Quality
As Terminal has learned, proceedings will soon start for retail fuel trader Loranto LLC, which is to prove the quality of the fuel it sells. Perhaps the process will be closely monitored by the market’s largest player, Igor Kolomoisky’s Privat Group, as Loranto belongs to the group.
Scandals
SCANDAL OF THE WEEK: The Accounts Of Ihor Yeremeyev’s Oil Traders Are Frozen. The family is on the EBB
Ivano-Frankivsk region’s economic court on March 12, 2012, froze UAH 36.5 million on the accounts of West Oil Group LLC, the Halychyna refinery, Continent Nafto Trade, WOG, Continuum-Halychyna Trade House, and Golden Equator LLC.
Forecast
About Stereotypes Of Thinking
Over the week developments were proceeding in keeping with a scenario approved in late March. Leaders of the developed nations were actively continuing to check the strength of investors’ nerves, using a common set of tools. Oil prices are not tending to fall…
Time To Slow Down
According to economic forecasts given by the Psyche Center on the basis of its regressive analytical model, this week prices of major petrol brand are to go up again. The average retail price of A-92 and A-95 petrol to DSTU 4063:2001 standards will be UAH 10.91 and UAH 11.25 per liter respectively.
Trade
Will The Stabilization Be Flexible?
In May 2005, shortly before a notorious fuel crisis broke out, then Prime Minister Yulia Tymoshenko said the following: «Draw me up a formula so that the price of petrol can be [UAH] 2.99 irrespective the price of crude oil.» Seven years have passed since then, the country got a new president and four new governments, but approaches haven’t changed. [The incumbent Prime Minister] Mykola Azarov is going to «flexibly stabilize prices on the fuel market with a floating rate on excise duty.» But the connotation stays the same: «Draw me up a formula…»
Raw Materials
Chemistry And Crude Oil
Since he bought Kherson oil refinery, Ihor Yeremeyev has been looking for partners to renovate and upgrade the plant. The entry ticket almost equals the full financing of the work – the required investment has been declared to be between $800 million and $ 1.150 billion. Invitations to come to Kherson have been sent to many companies, yet things haven’t moved forward an inch.
You can read full articles in journal «Terminal: Oil Review» №15(601) 16 Apr 2012
