• 5 minutes Covid-19 logarithmic growth
  • 8 minutes Why Trump Is Right to Re-Open the Economy
  • 12 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 14 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 13 mins Which producers will shut in first?
  • 9 mins The Most Annoying Person You Have Encountered During Lockdown
  • 37 mins What If ‘We’d Adopted A More Conventional Response To This Epidemic?’
  • 1 hour Its going to be an oil bloodbath
  • 5 hours Saudi Aramco struggling to raise money for this year's dividend of $75 billion. Now trying to sell their pipelines for $10 billion.
  • 5 hours How to Create a Pandemic
  • 2 hours Why should ANY oil company executive get ANY bonus now?
  • 4 hours Russia's Rosneft Oil Company announces termination of its activity in Venezuela
  • 9 hours KSA taking Missiles from ?
  • 2 hours A New Solar-Panel Plant Could Have Capacity to Meet Half of Global Demand
  • 11 hours Breaking News - Strategic Strikes on Chinese Troll Farms
  • 11 hours CDC covid19 coverup?
  • 11 hours Dr. Fauci is over rated.

Something Very Unusual Just Happened In Russian Oil & Gas

refinery

Refineries might seem pillars of stability in very volatile oil markets – trading companies unbacked by downstream assets are frailer than the others as they cannot stand on both feet, vulnerable to market shocks and recessions. Because refineries are long-term projects feeding the needs of regions and nations, rarely does one hear about refineries being held captive to protracted ownership disputes or being suffocated by governments. Yet Russia has been witnessing a peculiar case of bankruptcy entailing the Antipinsky refinery, one of the most recent additions to the nation’s downstream segment. Truth be said it is not often that one perceives a hitherto independent oil refinery being taken over by a state bank.

But let’s take it one step at a time. The Antipinsky refinery was commissioned in 2006, and for quite a long time it seemed like the quintessence of the capitalist Russian dream, an initiative carried out by an enterprising young university graduate who managed to put some well-connected officials around the project. Transneft, the Russian pipeline transportation monopoly has toyed with the idea of building a refinery along its major trunk pipeline from Western Siberia to Europe in the mid-1990s – it has already chosen the spot, a tiny village (Antipino) a couple hundred meters from the trunk pipeline, as would-be location. Transneft has also bought the basic ready-to-install refinery equipment from US firm Petrofac, for a nominal throughput…




Oilprice - The No. 1 Source for Oil & Energy News