Transneft Settles Oil Contamination Claims
Russian and Kazakh oil pipeline operators have signed an agreement finalizing compensation to Kazakh producers whose crude was tainted in the Russian pipelines this year, Kazakhstan's KazTransOil said on Monday.KazTransOil did not announce the total sum of compensation being paid by Russia's Transneft to 38 Kazakh companies for about 700,000 tonnes of crude.(Reporting by Mariya Gordeyeva; Writing by Olzhas Auyezov; Editing by Tom Hogue)
Rosneft Cuts Oil Output
Russia's largest oil producer Rosneft said on Tuesday its oil production had declined due to a decision by oil pipeline monopoly Transneft to reduce intake of oil due to a contaminated oil issue.It said Transneft had imposed a "significant" cap on oil intake from Rosneft's Yuganskneftegaz subsidiary.(Reporting by Vladimir Soldatkin and Olesya Astakhova; editing by David Evans)
Tainted Oil Set for Russian Refineries, Ports After Dilution
More than a million tonnes of contaminated oil from Russia's Druzhba ("Friendship") pipeline, expected to be shipped back from Belarus, will end up at Russian refineries and export ports after being diluted to usable levels, sources have told Reuters.The pipeline was halted in April after excessive levels of organic chloride used in oil extraction were found on the million-barrel-per-day pipeline that crosses Belarus and serves customers as far west as Germany.Pipeline operator Transneft, which denies responsibility for the contamination…
As Traders Tussle Turkmenistan Cuts Exports
A clash between trading house Vitol and Azerbaijan's SOCAR over Caspian Sea oil shipments is forcing Turkmenistan to slash exports of crude due to a lack of tankers.Turkmenistan typically exports about 200,000 tonnes of oil per month via the Caspian to world markets, mainly from fields operated by the UAE's ENOC and Italy's Eni, but flows have halved in recent weeks, six traders involved in operations said.That happened after Turkmen producers decided to export oil via Russia with the help of Swiss trader Vitol and ditch the previous Azeri route…
RDIF, Schlumberger Aim to Reach Eurasia Drilling Deal Soon
Russia's RDIF sovereign wealth fund and U.S. oilfield services provider Schlumberger plan to complete a deal soon to buy a stake in Russia's Eurasia Drilling Company, RDIF boss Kirill Dmitriev was cited as saying by TASS news agency.Dmitriev told reporters separately that state oil pipeline monopoly Transneft was considering a share buyback but did not provide details.(Reporting by Darya Korsunskaya; writing by Tom Balmforth; editing by Jason Neely)
Russia's Transneft Reports 19% Drop
Russian oil pipeline monopoly Transneft's first-half net profit fell 19.2 percent year on year to 92.1 billion roubles ($1.38 billion), the company said on Tuesday.Transneft's first-half earnings before interest, tax, depreciation and amortisation (EBITDA) stood at 208.2 billion roubles, down 3.5 percent from the same period last year, the company said.Reporting by Maxim Rodionov Writing by Tom Balmforth
Transneft Sees Russian Oil Exports Declining in 2018
Russian oil pipeline monopoly Transneft expects the country's oil exports to drop by around 5 million tonnes (100,000 barrels per day) this year because of robust domestic demand, the Interfax news agency reported on Monday.Transneft said it also expected an additional 9 million tonnes of oil to flow through its pipeline system in the second half of the year, in comparison to the first six months of 2018.Reporting by Vladimir Soldatkin
Russia's Oil Exports to Europe Decline as Quality Worsens
Russia has exported less crude oil to Europe this year as the quality of the fuel on offer deteriorated and tense diplomatic relations prompted it to redirect more volumes to China.Russia increased oil pipeline exports to China by almost 50 percent in January-April from a year earlier to 12.4 million tonnes, Igor Dyomin, a spokesman for Transneft, Russia's oil pipeline monopoly, said on Tuesday.Moscow has embarked on a so-called "pivot East" strategy and tried to boost ties with Asia as its relations with the West have chilled over Russia's role in Ukraine's conflict and its alleged meddling in the U.S.
Oil Flows via Black Sea-bound Russian Pipeline Suspended Due to Oil Spill
Russia's pipeline monopoly Transneft said on Tuesday that oil flows via Kuibyshev-Tikhoretsk pipeline were suspended due to an oil spill. Oil exports via the Black Sea will not be interrupted thanks to oil inventories, a Transneft spokesman said. Reporting by Vladimir Soldatkin Writing by Maria Tsvetkova
Russia's Transneft Launches "Yug" Oil Products Pipeline
Russian oil pipeline monopoly Transneft said on Thursday it had started pumping commercial volumes of oil products through its new "Yug" pipeline. The pipeline transports oil products from the Volgograd refinery on the Volga river to the Black Sea port of Novorossiisk. Reporting by Vladimir Soldatkin Writing by Christian Lowe
Transneft Suspends Talks over Purchase of Stake in NCSP
Russian oil pipeline operator Transneft has suspended talks with Summa group over the purchase of a stake in Novorossiysk Commercial Sea Port (NCSP) but is still interested in raising its stake in the asset, Transneft spokesman Igor Dyomin said. The negotiations were suspended due to the "latest events", Dyomin said in a statement without elaborating. On Saturday, the Russian authorities arrested the co-owner of Summa, Ziyavudin Magomedov, on charges of embezzling more than $35 million. Magomedov denied the charges at a pre-trial hearing, where a judge ordered that he be held in custody until May 30.
Russia Ramps up Fuel Exports in Fight for European Market
Russia plans to sharply increase fuel exports and carve out a larger share of the European market following an extensive $55 billion modernisation of its refineries, companies' plans and analysts' reports show. Russia embarked on a modernisation of its biggest refineries in 2011 following a fuel shortage crisis. It also changed its tax system to favour production of cleaner and higher-quality fuel. The modernisation, which has not been completed yet, led to a surge in output of light products and exports, which has hurt European refineries' margins.
Russian Pipeline Fire Could Affect Oil Loadings
An oil leak and resulting fire on an oil pipeline in Russia's Saratov region may affect the loading schedule for Russian crude exports, Igor Dyomin, a spokesman for oil pipeline monopoly Transneft, told reporters. Dyomin said that oil flows through the pipeline could resume in approximately 3-4 days. (Reporting by Vladimir Soldatkin; Writing by Christian Lowe; Editing by Adrian Croft)
Transneft May Restart Pumping Oil via Affected Pipeline in 2-3 Days
Oil supplies via a Russian pipeline which caught fire are expected to resume in two to three days, RIA news agency cited oil pipeline monopoly Transneft as saying on Thursday. Reporting by Christian Lowe
Russian Oil Pipeline Leading to Black Sea Catches Fire
An oil pipeline that supplies refineries and Russian Black Sea export terminals has caught fire in the Saratov region, a spokesman for oil pipeline monopoly Transneft said on Thursday. Interfax news agency said Transneft has stopped pumping oil via the Kuibyshev - Tikhoretsk pipeline as a result of the incident. Reporting by Vladimir Soldatkin
Azerbaijan Oil Shipped via Russia Jumps in Jan-Oct
Azerbaijan's oil shipments via Russia jumped to 1.242 million tonnes in January-October from 978,240 tonnes a year earlier, state energy company SOCAR said on Thursday. The increase was partly because SOCAR shipped no oil via the Baku-Novorossiisk pipeline in January and February last year, before resuming exports after signing an agreement with Russian pipeline monopoly AK Transneft. SOCAR aims to increase its shipments via Russia to 1.5 million tonnes this year, but to reduce export volumes to 1.35 million tonnes in 2018. Last year it shipped 1.2 million tonnes, down 4.8 percent from 2015.
Azerbaijan to Cut Oil Shipments via Russia in 2018
Azeri state energy firm SOCAR plans to cut its oil shipments via Russia to 1.35 million tonnes next year from 1.5 million tonnes expected to be exported in 2017, a company official said on Thursday. Azerbaijan sends only a small portion of its oil exports via Russia, using routes through Georgia and Turkey for the bulk of its crude shipments. "The reduction in oil shipments (via Russia) is linked to plans to transfer a major part of Azeri oil to the country's refineries," Adnan Ahmedzade, SOCAR's head of marketing, told journalists. Ahmedzade…
Fire Interrupts Oil to Lukoil's Norsi Refinery
Crude oil deliveries to Lukoil's Norsi refinery in the Nizhny Novgorod region have been suspended due to a fire at the facility, a spokesman for Russian pipeline monopoly Transneft said on Thursday. Deliveries of crude oil were stopped at 1415 Moscow time, he added. Earlier, the Ministry for Emergencies said in a statement that a fire had broken out at the refinery. It said the blaze had started at one of the refinery's storage tanks. An official in the local administration of Kstovo, the town where the refinery is located, told Reuters by phone that four people had died as a result of the incident.
Transneft H1 Net Profit Down 15%
First-half net profit of Russian oil pipeline monopoly Transneft declined by 15 percent to 113.86 billion roubles ($1.9 billion) from the year-earlier period, the company said on Friday. The company's revenue rose by 5 percent year on year to 438.3 billion roubles. Transneft receives revenues mainly from shipping oil and oil products via its vast pipeline network. ($1 = 59.0875 roubles) (Reporting by Vladimir Soldatkin; Editing by Andrey Ostroukh)
Novorossiisk Port Resumes Oil Loadings
Russian pipeline monopoly Transneft said on Friday that oil loadings from the Black Sea port of Novorossiisk had resumed after a storm. Transneft added in a statement, however, that weather conditions at the port remained unstable. (Reporting by Vladimir Soldatkin; Writing by Alexander Winning)
