Russia’s state-owned Rosneftegaz, which holds the government’s stake in oil major Rosneft, has applied to the Economic Development Ministry with a proposal not to change a tax burden on the oil industry over the next three years. This is not a proposal to suspend an oil tax maneuver. Rosneftegaz seeks that stabilization of the tax…
OPEC has raised the forecast for Russia’s 2016 daily oil output by 20,000 barrels and now expects the daily output to grow by 140,000 barrels to 10.99 million barrels, OPEC said in its monthly oil market report. OPEC also kept its forecast for Russia’s daily oil output in 2017 unchanged at 10.94 barrels. In August,…
Russian oil pipeline monopoly Transneft has received instructions of the Central Energy Customs to suspend oil product supplies to Ukraine, Igor Dyomin, advisor to the company’s president, said. “To ensure the Russian legislation in the sphere of export control we were asked to stop transportation of oil products to Ukraine”, he said. In early 2016…
Azerbaijan’s state oil company SOCAR has suspended the project for construction of a cogeneration plant – Petkojen – in Turkey due to technical reasons, Anar Mammadov, head of Turkish petrochemical complex Petkim, reported. The plant was meant to provide Petkim and Star refinery with electricity as well as ensure the sale of electricity to Izmir’s…
The Belarusian Potash Company (BPC) shipped 1.1 million tons of potash fertilizers to foreign customers in August, a BPC representative reported. All in all, BPC exported 5.8 million tons of potash (gross weight) in January-August. The BPC says the global potash fertilizer market is gradually getting back to normal on reports about new contracts made…
The capacity of Belarus’ automobile tire market is likely to reduce slightly in 2016, Belarus’ tire manufacturer Belshina said in a statement. Belarus’ tire market grew to 1.4 million units in H1 2016, including passenger car tires – 67.3% (down by 2,7% since early 2016), truck tires – 16.5% (up by 1.5%), farming machinery tires…
Russian oil company Tatneft has bid for privatization of a state stake in oil company Bashneft and has not withdrawn it, Tatneft CEO Nail Maganov said. “Our bid has not been withdrawn yet. The bid is sent and not withdrawn”, he noted. “The company has a solid investment potential, which we invest in the development…