We are bringing to your attention the latest news of oil and gas market of Ukraine. Starting form October the Law On the natural gas market comes into force, it is supposed to level the playfield for all participants. Apart from this law, a number of legislative and regulatory acts were adopted in the industry. Adoption of the Law On the natural gas market is an important and progressive step for the country, however, still some mistakes were made. The most of regulatory acts were adopted at the suggestion of state monopoly NJSC Naftogaz of Ukraine and in its interests. As a result, the companies suffered huge losses. And most importantly the issue of decreasing royalty rate is still not resolved, without it the future of oil and gas industry is doomed.
CONTENTS
OIL AND GAS FIELD WEEKLY REVIEW
UKRAINIAN COMPANIES
Gas contract with Russia is not signed yet, — Naftogaz
Production forgotten (downtrodden)
Ukrgazdobycha cancelled accepted offer of Himprompostach to supply methanol
Ukrnafta signed a contract with Rollins
Naftogaz increased net loss up to 88.43 billion UAH in 2014
INTERNATIONAL COMPANIES
Shell decided to stop geological exploration off the Alaska coast
Rosneft is studying the possibility of entering the Cuban market
RegalPetroleum completed I half-year with a loss of 3.3 million USD
Schlumberger refused to buy Russian EurasiaDrilling
INFRASTRUCTURE
Ukraine increased oil transit to the EU by 5% in January-July
Gas reserves in Ukraine’s UGS grew up to 15.5 BCM
DTEK resumed gas imports from Europe
Gosgeonadra promulgated starting prices of five oil and gas sites
POLITICS AND WORLD
Demchishin believes Ukraine to increase gas production by 5 BCM before 2020
Kobolev has heard Firtash
Gas market participants are not very satisfied with the new conditions
The Cabinet of Ministers approved a provision that obliges Ukrgazdobycha to sell gas to Naftogaz till 2017
UKRAINIAN COMPANIES
Gas contract with Russia is not signed yet, — Naftogaz
Production forgotten (downtrodden)
Ukrgazdobycha cancelled accepted offer of Himprompostach to supply methanol
Ukrnafta signed a contract with Rollins
Naftogaz increased net loss up to 88.43 billion UAH in 2014
INTERNATIONAL COMPANIES
Shell decided to stop geological exploration off the Alaska coast
Rosneft is studying the possibility of entering the Cuban market
RegalPetroleum completed I half-year with a loss of 3.3 million USD
Schlumberger refused to buy Russian EurasiaDrilling
INFRASTRUCTURE
Ukraine increased oil transit to the EU by 5% in January-July
Gas reserves in Ukraine’s UGS grew up to 15.5 BCM
DTEK resumed gas imports from Europe
Gosgeonadra promulgated starting prices of five oil and gas sites
POLITICS AND WORLD
Demchishin believes Ukraine to increase gas production by 5 BCM before 2020
Kobolev has heard Firtash
Gas market participants are not very satisfied with the new conditions
The Cabinet of Ministers approved a provision that obliges Ukrgazdobycha to sell gas to Naftogaz till 2017
