Section: Energy
Oil prices stabilize after Fed hike as tighter market looms
Oil prices stabilized on Thursday as a tighter market looms in 2017 due to planned output cuts led by OPEC and Russia, after sharp declines earlier following Wednesday`s U.S. interest rate increase that drove investors out of commodities, according to Reuters. International Brent crude oil futures were trading at $54.02 a barrel at 0428 GMT, up...
Ukrainian gas giant Naftogaz forecasts $805 mln in profit in 2016
Ukraine`s oil and gas giant NJSC Naftogaz of Ukraine expects to earn UAH 21 billion, or about US$805 million, in profit in 2016, according to the company`s CEO. ”It`s about UAH 21 billion,” Naftogaz CEO Andriy Kobolev said on TV. As UNIAN reported earlier, Naftogaz in 2015 posted UAH 25 billion in net loss, whereas in 2014 its net loss was...
Naftogaz CEO assesses Ukraine`s gas transport system at 30 bln USD
Andriy Kobolev, CEO of Ukraine`s oil and gas giant JSC Naftogaz of Ukraine, assesses the value of Ukraine`s gas transport system at US$30 billion. ”We assess it at a figure close to $30 billion,” he said on TV. Kobolev earlier said that the construction of such gas pipelines as the Turkish Stream and Nord Stream 2 – the latter is actively lobbied...
Putin complains to Merkel of Ukraine`s ”reluctance” to agree on gas purchases
Russian President Vladimir Putin has complained to German Chancellor Angela Merkel of Ukraine`s ”reluctance” to coordinate an agreement on Russian gas purchases, according to the Kremlin. ”The two leaders continued to discuss the situation around Russian gas deliveries to European consumers via Ukrainian territory. Vladimir Putin again expressed...
Large gas field discovered in Ukraine on Black Sea shelf
The state-owned ”Iskatel” (Searcher) research vessel has discovered offshore deposits of natural gas in Odesa region, according to the press service of the State Service of Geology and Mineral Resources of Ukraine. The vessel has completed the first phase of its offshore operations in the northwest part of the Black Sea shelf, the press service...
Ukrainians should shrink gas consumption at least threefold – Ukraine PM
Ukraine in 2017 plans to increase own gas production by 500 million cubic meters and by 2020 to cover all of its fuel needs, Prime Minister Volodymyr Groysman reported via Twitter. ”This year we have increased our own [gas] production by 50 million cubic meters. Next year we will increase it by 500 million cubic meters,” wrote Groysman. ”By 2020,...
Ukrtransgaz: the Russian gas monopoly Gazprom continues to violate conditions of gas transit contract
Gazprom continues to violate conditions of gas transit contract – UkrtransgazThe Ukrainian company intends to publish information about the pressure at the entrance to Ukraine`s gas transportation systems each Tuesday in order to inform its European partners and the public. The Russian gas monopoly Gazprom continues to violate the terms of...
Trilateral gas talks proved once again useful – Vice-President of the European Commission
Vice-President of the European Commission in charge of the Energy Union Maros Sefcovic is positive about the outcome of a recent round of trilateral gas talks between the European Commission, Russia and Ukraine, claiming the trilateral format has again proved to be useful. ”The trilateral format has again proven its usefulness today. Facilitated...
Gazprom signs contract to build Turkish Stream`s offshore section
Russian gas monopoly Gazprom has signed a contract to build the first line of the offshore section of the Turkish Stream pipeline bypassing Ukraine in the Black Sea, the information department of Gazprom told UNIAN. ”Today in Amsterdam, the company South Stream Transport B.V. signed a contract with Allseas Group S.A. for the construction of the...
Ukraine position on trilateral gas talks: winter package similar to previous seasons
”The objective of talks is to find consensus on a new winter package, which would be similar in terms of its content to those that we had in 2014 and 2015, to ensure that this winter Gazprom is able to sell gas, while the Ukrainian side – to buy it. We hope that as the outcome of tomorrow`s debate (I use the word ”hope” because we know that the...