Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2014-05-18 13:15:00

TOTAL: DESPITE TENSIONS

TOTAL: DESPITE TENSIONS

Oil major Total SA Chairman and Chief Executive Christophe de Margerie confirmed on Friday that he plans to attend a conference later this month in St. Petersburg, Russia, while other Western executives have been skipping the event because of tensions between the West and Moscow over Ukraine.

Attending the event for Mr. de Margerie is "business as usual," because the group's operations in Russia haven't been affected by the tensions or by sanctions against some Russian individuals and companies by both the U.S. and the European Union, he told reporters on the sides of Total's annual shareholders meeting.

The French oil company, which has had operations in Russia since 1991, has reiterated its commitment to its Russian operations since the crisis between Moscow and Kiev over Crimea and other Russian-speaking Ukrainian regions emerged. Total expects the country to be its most important region in terms of oil and gas output, with production of hydrocarbons seen at around 400,000 barrels of oil equivalent a day, double the current level. Total's total oil production last year was 2.3 million barrels of oil equivalent.

In 2011, in an agreement with Russian billionaire Gennady Timchenko, Total invested $4 billion to take a 12.8% stake in OAO Novatek, Russia's largest independent oil and gas producer. The stake has since risen to 17% and should reach 19.6% by the end of 2014.

Mr. Timchenko, one of Novatek's largest shareholders through his privately owned fund Volga Group, and a close ally to Russian President Vladimir Putin, was among those targeted by U.S. sanctions, which prevent Americans from doing business with him, yet not with companies minority-owned by him.

Mr. de Margerie admitted that "there could be a risk" that the diplomatic crisis between Russia and Ukraine could slightly delay the start of production of the giant liquefied natural gas project in northern Russia, Yamal LNG, which Total is jointly developing with Novatek. China National Petroleum Corp. recently joined the project.

Total and Novatek have together invested $27 billion to develop the LNG project in the Russian Arctic, which should start producing in 2017.

Some parts of the financing could be missing should the crisis go on, as some Western banks could pull out from Russia or cease business with Russian counterparts, Mr. de Margerie warned. But in such a case, any impact would likely be offset by financing from the project's Chinese partners, which are willing to finance as much as 50% so far, he also said.

Yamal field's proven reserves are estimated at 800 million barrels of oil equivalent, from which the two companies could one day produce as much as 15 million tons a year of LNG.

wsj.com

Tags: TOTAL, RUSSIA, OIL, UKRAINE

Chronicle:

TOTAL: DESPITE TENSIONS
2018, January, 22, 08:20:00

RUSSIAN NUCLEAR POWER - 2017

WNA - Apart from adding capacity, utilisation of existing plants has improved markedly since 2000. In the 1990s capacity factors averaged around 60%, but they have steadily improved since and in 2010, 2011 and 2014 were above 81%. Balakovo was the best plant in 2011 with 92.5%, and again in 2014 with 85.1%.

TOTAL: DESPITE TENSIONS
2018, January, 22, 08:15:00

INDIA'S NUCLEAR POWER - 2017

WNA - India has a flourishing and largely indigenous nuclear power programme and expects to have 14.6 GWe nuclear capacity on line by 2024 and 63 GWe by 2032. It aims to supply 25% of electricity from nuclear power by 2050.

TOTAL: DESPITE TENSIONS
2018, January, 22, 08:10:00

CHINA'S NUCLEAR POWER - 2017

WNA - Mainland China has 38 nuclear power reactors in operation, about 20 under construction, and more about to start construction. The reactors under construction include some of the world's most advanced, to give a 70% increase of nuclear capacity to 58 GWe by 2020-21. Plans are for up to 150 GWe by 2030, and much more by 2050.

TOTAL: DESPITE TENSIONS
2018, January, 22, 08:05:00

U.S. - RUSSIA'S NUCLEAR

PLATTS - "The domestic uranium mining industry needs US government assistance to survive the foreign onslaught -- particularly from Russia and Kazakhstan -- that has undermined the US uranium industry while new players -- particularly China -- will soon make the situation worse," Energy Fuels and Ur-Energy said in a petition they jointly filed with the department.

All Publications »