ROSNEFT & PETRAMINA FOR INDONESIA
ROSNEFT - Rosneft and Indonesian state-owned oil and gas company Pertamina completed the establishment of the joint venture for the development of Tuban grass root refinery and petrochemical complex (TGRR) in Tuban in the East Java province of Indonesia.
The Joint Venture Company (JV) PT Pertamina Rosneft Pengolahan dan Petrokimia (Indonesia) was established in accordance with the Joint Venture Agreement (the 'JVA') signed in October 2016. The JVA envisages the following participants shares in the joint venture: Rosneft – 45%, Pertamina – 55% and sets out the JV's governance principles.
Rosneft and Pertamina conducted the project feasibility study and moved to basic engineering and design (BED) of TGRR. The attractive market conditions of Indonesia and the expected consumption growth enabled the working group of Rosneft and Pertamina to develop a competitive concept of the new refinery and petrochemical complex. The parties confirmed possibility of arranging project financing after bankability study performed with the international financial institutions.
The planned refining capacity is 15 mmpta (300 kbpd) and the targeted capacity of the petrochemical complex is over 1 mmtpa of ethylene and 1.3 mmtpa of aromatics. The feedstock for TGRR will be medium and heavy sulfur crude oil grades. The crude oil terminal will be able to accommodate VLCCs of up to 300 thousand tonnes.
TGRR is an important part of Rosneft strategy targeting growth in Asia-Pacific market of refined products.
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REUTERS - State oil company Saudi Aramco last week raised prices for all crude oil grades to Asia in January.
U.S. BLS - Total nonfarm payroll employment increased by 228,000 in November, and the unemployment rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in professional and business services, manufacturing, and health care.
Отклонение нефтегазовых доходов федерального бюджета от месячной оценки, соответствующей Федеральному закону о федеральном бюджете на 2017-2019 годы, в декабре 2017 года прогнозируется в размере +204,8 млрд руб.
“Tight oil supplies are the wild card. They have reshaped the global outlook in recent years,” observed Ayed S. Al-Qahtani, who directs the research division at the OPEC Secretariat in Vienna. “US tight oil supplies will be the most important contributor but are expected to reach their peak around 2025.”