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RUSSIA - Part 2 - The Oil & Gas Producers

There are 21 Russian Russian

associated in some way with Russia.

Russian blue
a breed of cats with short, dense, silver-tipped blue-colored coat and vivid green eyes.
 groups and companies accounting for the bulk of the Russian Federation's crude oil output of 6m b/d b/d
barrels per day
. Gazprom JSC Gazprom (RTS:B>GAZP MICEX:B>GAZP LSE: OGZD; Russian: ОАО Газпром, sometimes transcribed as Gasprom[1] , the biggest firm in Russia Russia, officially the Russian Federation, Rus. Rossiya, republic (2005 est. pop. 143,420,000), 6,591,100 sq mi (17,070,949 sq km). , produces more than 96% of the federation's natural gas requirements and exports.

The integrated groups own most of Russia's 28 oil refineries This is a list of oil refineries. The Oil and Gas Journal also publishes a worldwide list of refineries annually in a country-by-country tabulation that includes for each refinery: location, crude oil daily processing capacity, and the size of each process unit in the refinery. . Firms in relatively more autonomous member-republics include Tatneft Tatneft OAO is a Russian vertically-integrated oil and gas company with headquarters in Almetyevsk, Tatarstan. The company was created in 1950 by the merger of several oil companies and related industries.  of Tatarstan Tatarstan (tăt'ərstăn`, –stän`), Tatar Republic (tä`tər, tətär`), or Tataria (tətär`ēə), republic (1990 est. pop.  and Bashneft of Bashkortostan Bashkortostan (bäshkôr`tĭstän') or Bashkir Republic (băshkĭr`), constituent republic (1990 pop. . There are also independent Russian oil refining refining, any of various processes for separating impurities from crude or semifinished materials. It includes the finer processes of metallurgy, the fractional distillation of petroleum into its commercial products, and the purifying of cane, beet, and maple sugar  and distribution companies (see profiles on following pages and Downstream From the provider to the customer. Downloading files and Web pages from the Internet is the downstream side. The upstream is from the customer to the provider (requesting a Web page, sending e-mail, etc.).  Trends). There are two categories of oil producing joint ventures: JVs operated by foreign companies, like Polar Lights the aurora borealis or australis.

See also: Polar
 involving Conoco, and JVs operated by Russian companies This is a list of companies from Russia. See List of banks in Russia for banks.

Company Industry MICEX RTS
1C Company Software - -
Acron (company) Chemicals - RTS:B>AKRN

Aeroflot Airlines MICEX:B>AFLT

Alfa Group Investment - -
. The second category includes Ortneft, Vatoil, LUKoil-AIK and Yoganoil.

                     THE MAIN RUSSIAN OIL COMPANIES*

          Market Captln  Production       Mkt Cap/  Reserves

Company      (US$m)      ('000 b/d)     Production  (m barrels)

LUKoil         13,187       1,235          29.3       11,640

Yukos           4,832         708          18.7        9,728

Surgutneftegaz  4,191         675          17.0        5,460

Sidanco         3,719         445          22.9         9,633

Tatneft         2,601         488          14.6         6,090

Sibneft         2,439         361          18.5         4,145

Slavneft        2,373         257          25.3         1,300

Eastern Oil Co. 1,907         229          22.8         2,100

Tyumen          1,687         420          11.0         5,770

Onaco           1,061         159          18.3         1,430

KomiTek           395         102          10.6         1,625

* By Feb.9, 1998. Source: Natwest Markets Europe as published by FT Energy Economist in April 1998.


     LUKoil            Producing Units     Refineries

     Langepasneftegaz     Volgograd

     Uraineftegaz         Perm

     Kogalymneftegaz      Novoufimsk

     Permneft             Ufa





LUKoil crude oil/condensate production Mid-Aug. 1998:

 1.3 million b/d LUKoil's usable refining capacity: 400,000 b/d

     Yukos             Yuganskneftegaz     Novokuibyshev

     Samaraneftegaz    Kuibyshev


Crude oil/condensate production Mid-Aug. 1998: 730,000 b/d

 Usable refining capacity: 590,000 b/d.

     Surgutneftegaz     Producing Units     Refineries

     Surgutneftegaz     Kirishi

Crude oil/condensate production Mid-Aug. 1998: 685,000 b/d

 Usable refining capacity: 390,000 b/d

     Sidanko            Varyeganneftegaz     Saratov

     Kondpetroleum      Angarsk

     Chernogorneft      Khabarovsk



Crude oil/condensate production Mid-Aug. 1998: 460,000 b/d

 Usable refining capacity: 750,000 b/d

     Tyumen Oil Co.     Nizhnevartovskneftegaz     Ryazan



Crude oil/condensate production Mid-Aug. 1998: 450,000 b/d

 Usable refining capacity: 360,000 b/d

     Sibneft     Noyabrskneftegaz     Omsk

Crude oil/condensate production Mid-Aug. 1998: 400,000 b/d

 Usable refining capacity: 566,000 b/d

     NK Rosneft         Dagneft       Komsomolsk

     Kalmneft           Krasnodar

     Krasnodarneftegaz  Tuapse





Crude oil/condensate production Mid-Aug. 1998: 270,000 b/d

 Usable refining capacity: 270,000 b/d

     Slavneft     Megionneftegaz     Mozy (Belarus)


Crude oil/condensate production Mid-Aug. 1998: 260,000 b/d

Usable refining capacity: 680,000 b/d

     East Oil Co. (VNK)     Tomskneft     Achinsk


Crude oil/condensate production Mid-Aug. 1998: 235,000 b/d

 Usable refining capacity: 300,000 b/d

     Orenburg Oil (Onako)     Orenburgneft     Orsk

Crude oil/condensate production Mid-Aug. 1998: 160,000 b/d

 Usable refining capacity: 200,000 b/d

     KomiTek     KomiNeft     Ukhta

Crude oil/condensate production Mid-Aug. 1998: 110,000 b/d

 Usable refining capacity 150,000 b/d:


               % Of Shares  Floor     Price

Company          Offered    Price      Paid     Winner

Surgutneftegaz     40       $66.6m     $88m     SNG Pension Fund

Lukoil              5       $35m       $35.01m  Lukoil Via

Imperial Bank

Yukos              45      $150m      $159m     Bank Menatep

Sidanko            51      $125m      $130m     International

Finance Corp

Sibneft            51      $100m      $100.3m   Stoiochny Bank


Nafta Moskva       15       $20m       $20.01m  Nafta Moskva

As this table shows, the amounts of money paid for large shares in these companies in the first privatisation Noun 1. privatisation - changing something from state to private ownership or control
denationalisation, denationalization, privatization

social control - control exerted (actively or passively) by group action
 wave were ridiculously low (see background in the 1996 survey of Russia, Vol. 47).

The oil industry in Russia is facing enormous problems. These range from a deep financial crisis in the country to lack of modern equipment and technology. As a result, the average production per well - excluding more than 40,000 wells made idle in recent years - is less than 70 b/d. To compare, the average production per well in Saudi Arabia Saudi Arabia (sä`dē ərā`bēə, sou`–, sô–), officially Kingdom of Saudi Arabia, kingdom (2005 est. pop.  is 5,780 b/d. For completely different reasons, the average in the US is 12 b/d and in Canada it is 33.5 b/d.

The oil producing companies, from LUKoil down to the smallest one, have all been hit hard by the fall in world crude oil prices this year. They have also been hit by higher taxes and excise A tax imposed on the performance of an act, the engaging in an occupation, or the enjoyment of a privilege. A tax on the manufacture, sale, or use of goods or on the carrying on of an occupation or activity, or a tax on the transfer of property.  fees imposed on them by the Moscow government. Costs of crude oil being produced, together with government taxes and pipeline fees, have risen to almost $10/barrel. This is the level to which the market price of Urals, Russia's main export blend of crudes, has reached in recent months.

The Russian oil companies have sought "strategic alliances" and partnership deals with Western majors. Following LUKoil's JVs with Arco and Agip, a strategic link was agreed in November 1997 between Gazprom and Shell and between BP and Sidanco. An Elf-Sibneft link is under negotiation in parallel to a Yukos-Elf link being negotiated separately as an alternative. A Yukos- Sibneft merger, in which Elf elf, in Germanic mythology, a type of fairy. Usually represented as tiny people, elves are said to dwell in forests, in the sea, and in the air. Although they can be friendly to man, they are more frequently vengeful and mischievous.  and Mobil were to be involved as partners to

create the biggest oil group in Russia called Yuksi, was agreed in late 1997, but this collapsed in May 1998. Each of the other companies is negotiating some form of alliance with a Western major (see Downstream Trends).
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Publication:APS Review Oil Market Trends
Article Type:Article
Geographic Code:4EXRU
Date:Aug 17, 1998
Previous Article:RUSSIA - Political Instability
Next Article:RUSSIA - NK LUKoil

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