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Nizhnevartovsk-China Oil Supply Treaty

Date Added: September 05, 2009 08:19:04 PM
Author: Thomas
Category: Reference: Ask an Expert
As a source in the Industry and Energy Ministry informed Interfax there is only one company, TNK-Nizhnevartovsk, which represents a Russian-British joint venture TNK-BP(RTS: TNKO), will be able to export oil to China by means of Kazakhstan Atasau-Alashankou oil pipeline in 2008. According to this source, the whole quantity of oil to be delivered via this line this year is 500, 000 tons. TNK-Nizhnevartovsk was the only to be allowed to deliver oil in this direction. Gazprom Neft(RTS:SIBN) was declined in their appeal to the Industry and Energy Ministry in supply of 1.08 million tons of oil to China through the same route in the second quarter of 2008. As the spokesman declared the firm was not given explanations of the reasons of the refusal, which was a big shock for it. Now they would like to clarify the matter. In the beginning of 2008 both companies TNK-BP and Gazprom Neft were allowed to export 150, 000 tons of oil to China each. Gasprom Neft though had a problem with shipping the oil after having an confrontation with KazTransOil, Kazakhstan's transportation monopoly. At the same time TNK-BP plans to improve the delivery of oil in the second quarter of the year. According to the treaty about mutual transit between Russia and Kazakhstan concluded in November 2007 Russia is allowed to supply 5 million tons of oil to China via Atasu-Alashankou pipeline annually. The plans for the oil export via Kazakhstan have been complied until now. This schedule states that Russian oil companies will be able to supply about 3.57 million tons of oil to Kazakhstan until the end of the year. To be more precise Rosneft(RTS:ROSN) will supply 1.05 million tons, Surgutneftegas(RTS:SNGS) – 750, 000 tons and Gazprom Neft – 420, 000 tons. This oil goes to Kazakhstan's Pavlodar Oil Refinery. Additionally, PetroKazakhstan firm, a Chinese-Kazakh enterprise, will receive 1.35 million tons of oil, 600, 000 tons of which comes from Lucoil(RTS:LKOH), 450, 000 tons from TNK-BP and 300, 000 tons will be supplied from RussNeft.
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