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.

2014-09-30 20:46:00

RUSSIAN OIL ARE SECURE

RUSSIAN OIL ARE SECURE

Hungarian oil group MOL is reasonably confident that its crude supplies from Russia will not be disrupted by the Ukraine conflict because its Russian partners are reputable companies, the head of its downstream business said.

Ferenc Horvath, MOL's Executive Vice President for Downstream, told the Reuters Eastern Europe Investment Summit that MOL had also started purchasing crude for its Hungarian refinery via an Adriatic pipeline, from Kurdistan and elsewhere, a year ago, although it still gets most of its crude from Russia via Ukraine.

"From a Russian point of view I don't see an execution risk. Of course, there is always a risk due to (the) Russia-Ukraine political situation for some disruption of crude deliveries," Horvath said on Monday.

He said MOL was buying one cargo, or 80,000 tonnes, of crude via the Adriatic each month.

"We are ready and our system is able to supply via the Adriatic pipeline enough crude for our Hungarian refinery, and also the majority of the Slovak refinery can be served."

MOL was adjusting to the excess refinery capacity in Europe, and had already transformed its Italian refinery into a logistics hub, Horvath said.

He also urged Croatian oil and gas company INA, in which MOL holds close to 50 percent, to consolidate its refining capacity at one site instead of keeping two refineries running, which is generating losses.

The Croatian economy minister, who has headed Croatia's team during negotiations with MOL, has not been willing to discuss plans to rationalise INA's refining business so far. The Croatian government is the other big shareholder in INA.

Horvath said INA refineries are probably the smallest and least competitive in Europe. INA's Rijeka refinery had a much better chance of being competitive in the market than its Sisak facility, he said.

"As I could see from the earlier calculations and materials and discussions with colleagues from INA, there is no economic rationale and no economic environment where Sisak can competitively continue its refining operation," he said.

As for MOL's outlook, Horvath said the refining and petrochemical environment had improved a lot in the third quarter, with margins increasing, and consumption rising this year in central Europe, MOL's core markets.

This slow recovery in fuel consumption should continue in the third quarter, he said.

"And regarding the Russia-Ukraine crisis, I believe that the impact on fuel consumption in this region will not be so direct or so quick," Horvath said.

reuters.com

Tags: RUSSIA, OIL, GAS, EUROPE

Chronicle:

RUSSIAN OIL ARE SECURE
2018, February, 16, 23:15:00

DEWA INVESTS $22 BLN

AOG - The Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.

RUSSIAN OIL ARE SECURE
2018, February, 16, 23:10:00

TRANSCANADA NET INCOME $3.0 BLN

TRANSCANADA - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per share in 2016.

RUSSIAN OIL ARE SECURE
2018, February, 16, 23:05:00

RUSSIAN NUCLEAR FOR CONGO

ROSATOM - February 13, 2018, Moscow. – ROSATOM and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo today signed a Memorandum of Understanding on cooperation in the field of peaceful uses of atomic energy.

RUSSIAN OIL ARE SECURE
2018, February, 16, 23:00:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.1%

FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.

All Publications »