Total Oil

Russia let French Total access to difficult to recover oil sites

French Total received three Russian hard to recover reserves sites in the Khanty-Mansi Autonomous Area for exploration, the region stated on its web site, citing the governor of Yugra N.Komarova.
Total declined to give any comments.
Total, participating at the ambitious gas project in Yamal, has become one of the western companies, which announced about its intentions to keep investments in Russia, despite the appeal of the USA to restrict economic cooperation after the annexation of the Crimea.

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Ceyhan oil terminal dispatches about 2 billion barrels of oil.

As of April 1, 2014, the Turkish company «Botas International Limited» (BIL) has shipped 1.9 billion barrels of oil from the oil terminal of Ceyhan since June 2, 2006, against nearly 1.65 billion barrels (as of April 1, 2013), a statement posted on the official website of BIL on Tuesday informs.
Since 2001 turkish BIL is engaged in operation of the Baku - Tbilisi - Ceyhan (BTC) oil pipeline in Turkey.

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American bank refuses to finance Yamal LNG project

Export-Import Bank of the United States has refused to consider financing of the Yamal LNG project on export of natural gas, when administration of the U.S. President initiated introduction of sanctions against persons, including billionaires, who have shares in the project, the Bloomberg transmit, referred to the bank’s press centre.

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U.S. Eximbank not to finance the "Yamal LNG" project because of the U.S. sanctions.

The Export - Import Bank of the United States (U.S. Eximbank) will not consider the possibility of financing the "Yamal LNG" project, one of whose members is Novatek, Bloomberg reported, citing the Lawton King a bank representative.
"Eximbank will not provide any support for the "Yamal LNG" project" – is stated in the King’s letter. The agency stated that the bank previously considered the possibility of the loan, but the details have not been provided.
On March 20th, the U.S. authorities have expanded the list of persons against whom sanctions are imposed in connection with the events in Ukraine, including the businessman Gennady Timchenko. Its associates own 23.5% stake in Novatek.

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Novatek reports who will buy Yamal gas

Yamal LNG has distributed volumes of gas. Majority owner of the asset – independent gas producer Novatek – will buy 2.86 million tons per year and sell gas through Singaporean Novatek Gas & Power. Total (which has 20% share in the project) will take 4 million tons of LNG per year, the Interfax reports, referring to the representative of Novatek.
Let’s recall, previously it was reported about two other large contracts. Thus, a long-term agreement on supply of 2.5 million tons of LNG per year that is equal to 3.2 billion cubic meters of natural gas was signed with Spanish Gas Natural,Company, Fenosa. A contract with Petrochina (CNPC’s subsidiary) provides for at least 3 million tons.

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Total wants to be a partner of LUKOIL on tight oil production

French oil-and-gas company Total holds negotiations with OJSC “LUKOIL”, focused on forming of partnership for the realization of joint projects in the Russian Federation, British business newspaper Financial Times states citing the source, familiar with the situation.
According to the companions of the edition, the parties discuss the creation of a JV for the production of tight oil, including at the shelf. There are no guarantees on productivity of the negotiations. They have declined to give any comments in the companies.

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Total to continue to buy the shares of Novatek

The French Total will continue to buy shares of Novatek after April 1st of 2014. This time was previously given by partners for increase of the French company’s stake in Novatek to 19.4%. Total became shareholder of Novatek in April of 2011, bought 12.09%. The agreement on strategic partnership with the Russian partner provides for increase during three years 

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On the results of 2013, oil production in Yugra fell by 1.9%

The Governor of Yugra, Natalya Komarova has reported results of social and economic development of the autonomous district in 2013 and priority directions for the further work:
“On the results of the previous year, 255 million tons of oil were extracted in the district that is by 1.9% less than in 2012, - the Governor noted. – As compared with the previous two years, the production decreased by 4.9 million tons”.
Meanwhile, the Governor thinks that in the long-term perspective the reduction factor of 2013 is positive for Yugra, because it is connected with switch off of significant amounts of companies’ investments to new strategic projects.

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Total to buy 4 million tons of gas per year from Yamal LNG

Bashneft has agreed to supply oil products to Minco Enterprises Ltd valued at $2.585 billion. The maturity is from the date of execution until January 31st, 2015 inclusive, while regarding reciprocal payments – until their full completion on June 30th, 2015 and they can be extended for another year upon mutual agreements of the parties.

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Gas leak inspection results at Kashagan to be ready by Q2

An operator of one of the largest offshore deposits of Kashagan, North Caspian Operating Co (NCOC) anticipates the final pipeline inspection results in the second quarter of the current year, NCOC reports. They were expected in late January-early February at first. Reuters reports citing the consortium that the inspection results will be ready within the period from March to June 2014.
At the same time, the source in the government of Kazakhstan said it’s not until May that the authority of the country expects the results of the accident investigation. “We’ve got the test, but we need time to determine it,” a companion of Reuters said.

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