Jul
11
2008
Russian Vice-Premier Igor Sechin offers to build a new refinery in Russia with capacity of 12 million tons. The project cost is estimated at 8 billion dollars.
In Russia no such plants built since USSR times. Usually, major oil companies only modernized the old refinery. The State will participate in the construction of new refineries for processing of Russian oil and petroleum products supply the domestic market. As experts note, such a project would reduce the growth of prices for gasoline.
The volume of processed oil in 2007 (Russia)
| Oil company |
The volume of processing, mln tonnes |
| Rosneft |
48,8 |
| LUKOIL |
42,5 |
| Gazprom neft |
16,5 |
| Surgutneftegaz |
19,8 |
| Slavneft |
12,7 |
| TNK-BP |
21,9 |
| Ufa Oil Refinery |
19,2 |
| Moscow Oil Refinery |
10 |
| Other |
37,2 |
| Total |
228,6 |
Jul
08
2008
World market prices for oil fall on July 7, 2008 at the leading oil exchanges declined significantly. Official oil futures prices coming month deliveries were: at the InterContinental Exchange Futures - IPE Brent Crude - 141,87 US$/bbl., at the New York Mercantile Exchange - Light, Sweet Crude Oil - 141,37 US$/bbl.
The decline in oil prices was the market reaction to the statement by the Iranian authorities, have confirmed their readiness to negotiate with the six mediators on the nuclear program.
Meanwhile, the International Energy Agency (IEA) expected a decline in oil prices in 2009-2010 he worked. Analysts expect oil production increase. However, further, by 2013, the market begins to take shape again deficit, believe in the MEA, since black gold production will begin to fall again, as demand increases.
Falling crude oil prices did not prevent the average U.S. retail price of gasoline from hitting a new record high of $1.08 a liter ($4.11 a gallon) Monday.
Jul
04
2008
The State Duma passed a law creating tax conditions for developing the economy of Russia. For oilmen lowered the tax burden on oil. It is the introduction of zero rate tax on mineral extraction (NDPI) to the oilfields with reserves of oil difficult.
Tax holidays are imposed for a period of 10 to 15 years depending on the region and the degree of depletion or deposit before reaching accumulated volume of oil production to 35 million tons of subsoil plots, located north of the Arctic circle within the boundaries of internal sea waters and territorial sea and continental shelf of Russia.
As a result of tax on oil will take at prices ranging from 15 dollars a barrel (before that - 15 dollars per barrel).