Weekly news digest January 20–26, 2014

It is gratifying to note the positive trend in energy resources production, particularly regard to private companies. The success of independent companies shows that oil and gas industry in Ukraine has good prospects and huge potential.

According to the year results the effects of the mining companies has exceeded all expectations, the growth of gas production was substantial.

Despite the good results, the industry has some problems. They mainly refer to the legislative and regulatory spheres. For example, the issue of land allocation for construction of oil and gas industry objects, in particular wells, remains unresolved.

But production problems are nothing compared to the difficulties in oil-refining.

Contents

Ukrainian companies
In 2013 oil production decreased by 4.5% up to 2.16 million tones
In 2013 oil processing decreased by 26.1% - up to 3.38 million tons
In 2013 the using of oil and gas condensate in 2013 fell by 19.1% up to 3.83 million tons
In 2013 gas production increased by 4% — up to 21 billion cubic meters
In 2014 Poltavagazvydobuvannya intends to launch
19 new wells
Foreign companies
JKX Oil & Gas launched its first well on Elizavetovskoe field
Serinus Energy increases production
The most perspective shale well was drilled in Poland
Chevron company will start works at Olesskoe field until September
Halliburton profit increased by 19%
Policy and world
Stavitskiy has got stung on gas - he dreamed about
a non-existing contract again
Taran headed the State agency on Energy Efficiency and Energy Saving
In 2014 the IEA raised its forecast for global oil demand
In 2013 EBRD allocated EUR54 million for renewable energy
projects in Ukraine
The Supervisory Board of Nadra of Ukraine has changed
Supply of Russian gas has fallen in price for theUkrainian consumers
Stavitskiy intends to introduce the passports of regions' energy efficiency
Russia needlessly scared of water pollution due to shale gas production
in Ukraine – expert says
World oil demand this year will be a record
Azarov: Ukraine will not refuse the shale gas production