Topic Of The Week
THINKING GLOBALLY
Then in 2008 Freddie Mac, Fannie Mae, MF Global, Lehman Brothers, Bear Stearns, AIG and others started falling apart like houses of cards, many analysts suggested that the overseas-based financial casino should be allowed to go bankrupt, thus ushering in a new economic cycle. But the U.S. Treasury and the Federal Reserve System had a different view. The injection of more than 20 trillion unsecured U.S. dollars into the global financial system, which they initiated, was supposed to recapitalize banks and improve the situation on the stock market…p.6
«SMUGGLE ME, SMUGGLE ME NOT»
Illegal fuel shipments to Ukraine from the CIS have long been a large-scale phenomenon that could hardly help improve fuel quality. However, it would be unfair to say that local inspectors are sitting on their hands. A good example of that is a recent incident in which the transportation of 16 tonnes of fuel to Ukraine was blocked by customs officers on the Ukrainian-Russian border…p.10
DRIFTING ICE
Old quality standards for petrol and diesel fuel are about to expire soon. The Ukrainian national standardization system’s DSTU 4063:2001 standard for petrol and DSTU 3869-99 standard for diesel will no longer be in effect after December 31, 2011. But the magic of New Year’s night could breathe life into them again from January 1, and there are a number of standard reasons why…p.11
Scandals
SCANDAL OF THE WEEK: Kalina-Vostok Confirms Uah 620,000 Worth Of Claims
Kalina: Debtors Never Forgotten
Volyn region’s economic court on October 5, 2011, confirmed a claim filed by Kalina-Vostok Ltd., having issued a ruling to execute a decision taken by the Institutional Court of Arbitration on an appeal by the Union of Oil Traders of Ukraine. In particular, the arbitration court on March 29, 2011, issued a decision under case No. 01-03/2011 and made an entrepreneur from Krasnokutsk in Kharkiv region obliged to return UAH 620,500 in debt. Out of the sum, almost UAH 500,000 is for fuel delivered, but not paid for in time, and UAH 120,000 in fines as annual compensation for inflation, for the use by the entrepreneur of the supplier’s assets, and for the delay in the payment…p.12
Forecast
EUROPE-STYLE SAFARI
International markets continue disregarding the gloomy forecasts about an impending global recession and weak macroeconomic statistics for the EU and the United States. Economic news still has some impact on the market, but only if the participants in the political safari involving the eurozone’s problem countries are on a break. Who could doubt the organizers’ professionalism, if the event has been so perfectly organized and the trophy is so attractive! Greece, Italy…p.14
FROZEN
According to economic forecasts given by the Psyche Center on the basis of a regression analysis model, the fuel market will remain stable this week. In particular, the average price of A-95 petrol will be UAH 10.29 per liter… p.15
Trade
WHERE THE DEMAND IS ORIGINATING FROM
On November 11, 2011, the Kommersant-Ukraine newspaper has again noticed a non-existent trend. This time, it is trying to convince the reader that diesel fuel is successfully ousting petrol from the domestic market. What is more, it quotes Vice President of TNK-BP Commerce LLC for sales, trading and logistics Yelena Alekseyeva, (the quotation is taken from the newspaper)…p.16
Raw Materials
FAIR OF PROMISES
In the first days of November Kyiv hosted the 15th International oil and gas industry forum «Oil & Gas.» It has become a key event in the industry. The participants in the forum focused on the main trend in Ukraine’s mining industry – the development of offshore gas fields and the production of gas from alternative sources…p.24
In Coming Issues
WILL THE RESERVES SAVE THEM?
The crises that are from time to time created on the liquefied gas market with the Ukrainian government’s silent consent are encouraging traders to create developed infrastructure to store propane and butane. The country’s total storage facilities have expanded by several times since 2008.
Will the reserves save local traders or will the stocks they accumulate simply prolong the agony of the Ukrainian gas market?
PETROL COCKTAIL RECEIPTS
Every consumer has the right to choose what petrol to put in their car, where to buy it, and at what price. But sometimes one can only pity a glittering ‘steel horse’ that won’t live a long life if its eats the wrong grass. What do they add to fuel today, and what can you do to protect yourself from unwanted additives? Remember the rule: the cheaper the sausage, the more strange its effects.
You can read full articles at the journal «Terminal: Oil Review» №46(579) 14 Nov 2011
