Analytics

This year was a little hectic, though not too bad for the oil industry. Another slumping in oil prices had been expected in January, but then the prices bounced back from $50 for a barrel of Brent. At the same time dire forecasts of a global financial crisis proved wrong, we came out ...

New Year is getting closer, while Naftogaz and Gazprom are as far from agreeing on gas contracts as they were a couple of years ago. Europe, fearing disruption in Russian gas supply, filled up all storage facilities to the full, has bought futures, and seems to have calmed down. The absence ...

Moscow. I have been following changes in the American gas industry for almost 9 years, and, in my opinion, it is currently at its peak. Enthusiastic forecasts predict it will continue to grow for at least another 6 years, and I have decided to check how realistic the predictions are. As ...

The news had been prepared carefully. A year ago, Voice of America announced that the United States could become the largest global oil producer. Soon there were reports that they had already overtaken Russia and Saudi Arabia. Finally, in September, the EIA made a statement: “The United ...

Moscow. The government failed to decide on increasing the compensations given to oil companies for supplying fuel to the domestic market at the March 26 meeting. The Ministry of Finance representative ignored the meeting, where the participants opposed adjusting the damper component of the ...

In a task as difficult as forecasting oil prices mistakes are inevitable. Because in the future some major events may happen that will dramatically change the prevailing trend. Last year my forecast for 2018 was that the Brent would slowly grow in the interval of $62-81. It worked well ...

According to the established tradition, at the end of December we are summing up the year for the Russian oil and gas industry. The results are controversial. Oil and condensate production this year is expected to reach 556 million tons, a 1. 8% increase on 2017 figures. The Ministry of ...

Moscow. The Ukrainian National Committee on Energy and Utility Payment Regulations approved the project on a sharp reduction in the charge for gas transportation through the country’s territory. The charge at all the gas transport pipeline inlets is planned to decline from $12. 47 to $6. 04 ...

Another oil market report published on October 11, 2018 by the OPEC on the global oil production and consumption in 2018-19 seemed interesting to me. The organization expects oil production (together with condensate and natural gas liquids) to increase by 2. 2 mln bpd this year, while the ...

Yulia Timoshenko promised to eliminate Naftogaz company if she is elected the Ukraine’s President. She thinks that the gas monopoly is an unnecessary agent and is not really involved in production. With her usual valor Timoshenko intends to do the elimination in just half a year, before ...

Moscow. The beginning of August made oil companies nervous. The Brent lost another 4. 8% adding to July’s losses and reached a dangerous level of $70. 4. It could have gone as low as $68. Luckily it didn’t. The quotes surged in the second half of August adding 10. 9%. The ...

In the beginning of July Brent prices began to retreat from June’s maximums, in the middle of the month the descend facilitated and reached 8. 5% (pic. 1). After the price reached $72 it bounced back up. The month’ trading closed at $74. 31, in the beginning of August the bears won ...

Khanty-Mansiisk. The economic development today is impossible without petroleum industry. However, scientists keep saying that conventional reserves of oil are getting depleted and we’ll run out of them in just 50 years’ time. A lot of researchers claim that the solution to the ...

The market correction lasted slightly over a month. Last Tuesday the Brent price surged up, exceeded $76 for a barrel only to break the average market downtrend next day (pic. 1). Trading closed at $79. 12. Pic. 1 The formal cause for the turn was the reduction in the US crude ...

Moscow. Experts refer the reserves of the Pre-Jurassic formations in West Siberia to hard-to-recover category, though they can actually be extracted. The problem is the geologists don’t have methods of recovering such reserves yet. Igor Shpurov, the general director for the State ...

In the end of May the long-expected correction started at the oil market (pic. 1). I had anticipated it 3 weeks earlier starting with the price of $75 for a barrel of Brent, but the dazed bulls pushed the quotes to $80 knocking out the incautious bears. Only later when some commentators started ...

Ufa. The concept of developing independent oil producers in RF has recently been put out for public consultation. The project was prepared by the AccoNeft experts on the recommendation of RF Energy Minister Alexander Novak and with the support from Gennady Shmal, the President of Russian Oil ...

On Friday Brent reached $75 for the fourth time in the last 10 days, though it didn't rise above it and spent the weekend at this level (pic. 1) Pic. 1 In my mind there is still a lot of room for growth. However, it won't happen in the nearest future because there are too ...