The oil price can fall to $30 per barrel over the next few years and can decrease further over a 20-year period, Alexei Kudrin, former finance minister and current head of the Center for Strategic Research, said. “After the oil price has fallen, the budget deficit will be 3.7% (of gross domestic product) this year…
Kazakhstan may start Kashagan oil export through Azerbaijan in 2017. “Next year if market conditions change, we may start Kashagan oil transshipment through Azerbaijan”, Kazakh Energy Minister Kanat Bozumbayev said. Kashagan oil may be transported by Azerbaijan’s railways or pumped through Azerbaijan’s pipelines, Kazakh minister said. Kashagan is a large oil and gas field in…
Belarus’ chemical company OAO Grodno Azot says its nitrogen fertilizer exports reduced by 22.8% YoY in January-July to 151,300 tons (in terms of 100% nitrogen), a source in the profile ministry reported. In money terms exports shrank by 42.3% YoY to $69.507 million. The experts attribute shrinking proceeds to the decline in fertilizer prices. Grodno…
Belarus’ proceeds from exports of domestic crude oil reduced by 32.3% YoY in January-July to $253.704 million, Belarus’ National Statistical Committee (Belstat) said in an official report. In January-July Belarus exported 945,900 tons of crude oil, up by 0.7% YoY. Belarus’ sole authority on oil exports is a state-controlled monopoly officially designated as Belorusneft. Germany…
Russian oil giant Rosneft has deactivated its Lisichansk refinery in east Ukraine, Rosneft CEO Igor Sechin said. “We are deactivating this plant for the time being. We have admitted part of the refinery’s personnel for work at Rosneft. Over 60 people have come to us”, Sechin said. “Our decision is to preserve all assets”, Sechin…
The Belarusian industrial group Belorusneft has signed an engineering and advisory services contract with Oil India, the press service of the Belarusian company reported. Under the contract, Belorusneft will provide comprehensive technology-intensive services to rehabilitate the Digboi oil field, India’s oldest oil field. Industrial reserves of oil were discovered there back in 1889. As of…
Belarus’ proceeds from exports of petroleum products to Poland grew 3.36 times YoY in January-July to $129 million, a source in the profile ministry reported. Belarus exported 367,216 tons of petroleum products to Poland in January-July, up 5.43 times YoY. Belarus exported 151,080 tons of petroleum products to Poland in 2015 (up 2.57 times YoY)…