Oil prices on the NYMEX Exchange fell during the auction on 21 April following a psychologically important mark of 45 dollars per barrel. At 18:00 Moscow time barrel mark WTI crude oil supply in May, dropped in price relative to the previous day's closing at 1.27 dollars to 44.61 dollars.
At the same time, the June futures on the North Sea mark Brent have fallen in price by 90 cents to 48.96 dollars. At the auction on 20 April, both brands cheaper eight per cent.
Oil prices are falling because of fears of investors about the collapse in global demand for hydrocarbons. The International Energy Agency (IEA), world oil consumption in 2009 decreased by 2.5 percent. Thus, the first time since the eighties of the demand will fall within two years.
At the price also has increased the pressure the U.S. dollar. Over the past three days, the U.S. currency to the euro grew by 3 per cent. Dollar rise has meant that investors seek to sell other securities and futures, are they available. At higher dollar commodity prices are falling, with the exception, usually gold.
Wednesday, April 22, 2009
Tuesday, April 21, 2009
Russia issued its alternative to the Energy Charter.
The draft document on international energy cooperation, which can completely or partially replaced by the Energy Charter, published on the site of the President of Russia Dmitry Medvedev.
In the proposal of the Russian side on Energy Cooperation states that the new system, unlike the built around the Energy Charter, should unite all the major States which are manufacturers, exporters, consumers and transit of energy resources. The new system including should be universal, open, equitable and comprehensive.
The document, entitled "Conceptual approach to the new legal framework for international cooperation in the energy sector" refers to the basic principles of cooperation in the energy sector. These include the implementation of unimpeded transit of energy resources to international markets, as well as ensuring security of supply and necessary infrastructure.
International Energy Charter has been developed and adopted in the early 1990's. It included free access of European countries to the Russian resources and pipelines, but Europe itself was closed for the Russian energy investment.
April 20, the draft was submitted to the Russian president during his visit to Finland, and then sent to the leadership of "Big twenty" (G20) and the "Big Eight" (G8), as well as CIS countries and partners of Russia. April 21, Russia offers to cooperate in the energy sector supported Ukraine.
In the proposal of the Russian side on Energy Cooperation states that the new system, unlike the built around the Energy Charter, should unite all the major States which are manufacturers, exporters, consumers and transit of energy resources. The new system including should be universal, open, equitable and comprehensive.
The document, entitled "Conceptual approach to the new legal framework for international cooperation in the energy sector" refers to the basic principles of cooperation in the energy sector. These include the implementation of unimpeded transit of energy resources to international markets, as well as ensuring security of supply and necessary infrastructure.
International Energy Charter has been developed and adopted in the early 1990's. It included free access of European countries to the Russian resources and pipelines, but Europe itself was closed for the Russian energy investment.
April 20, the draft was submitted to the Russian president during his visit to Finland, and then sent to the leadership of "Big twenty" (G20) and the "Big Eight" (G8), as well as CIS countries and partners of Russia. April 21, Russia offers to cooperate in the energy sector supported Ukraine.
Gazprom has not received from Turkmenistan claims for damages from the accident.
KommentariiNe waiting for? Saechku of fright! 10.04.2009Turkmeniya accused Gazprom of subversive deyatelnostiSyuzhetyGazovy conflict "Gazprom" and Turkmenii14.04.2009Vinovnye in an accident on the Turkmen gas pipeline will be required to bear the cost of repairs, Gazprom has not yet been received from Turkmenistan written proposals or demands for compensation for damage from the accident at Pipeline CAC-4 (Central Asia-Center). About Interfax reports with reference to the source close to the Russian concern. Now, negotiations on a political level, and specific solutions have not yet been adopted.
According to Interfax, one of the causes of the accident at the pipeline was the lack of action of technical staff working on the pipeline. April 14, President of Turkmenistan Gurbanguly Berdymuhamedov said that the culprit in the pipeline accident CAC-4, must assume all costs associated with repairs.
Remember, an explosion at a gas station CAC-4 in Turkmenistan occurred on the night of 9 April 2009. As a result of the accident, Turkmen gas is completely stopped come to Russia. Later Turkmenistan to blame the accident on "Gazprom", saying that the Russian company, without prior notice to drastically reduced the selection of the gas, resulting in additional load on the pipeline.
Gas CAC-4 is located on the territory of Turkmenistan, Uzbekistan and Kazakhstan. According to Turkmen gas is transported by pipeline to Russia. The throughput capacity of CAC-4 is 80 billion cubic meters of gas a year.
According to Interfax, one of the causes of the accident at the pipeline was the lack of action of technical staff working on the pipeline. April 14, President of Turkmenistan Gurbanguly Berdymuhamedov said that the culprit in the pipeline accident CAC-4, must assume all costs associated with repairs.
Remember, an explosion at a gas station CAC-4 in Turkmenistan occurred on the night of 9 April 2009. As a result of the accident, Turkmen gas is completely stopped come to Russia. Later Turkmenistan to blame the accident on "Gazprom", saying that the Russian company, without prior notice to drastically reduced the selection of the gas, resulting in additional load on the pipeline.
Gas CAC-4 is located on the territory of Turkmenistan, Uzbekistan and Kazakhstan. According to Turkmen gas is transported by pipeline to Russia. The throughput capacity of CAC-4 is 80 billion cubic meters of gas a year.
China will build on the Yangtze more than 20 dams.
By 2020, China intends to build on the Yangtze River for more than 20 dams for the development of hydropower. That was reported by Associated Press on Tuesday, 21 April.
On the Yangtze is already the world's largest hydroelectric power station "Three Gorges", construction of which will be completed by 2010. AP notes that the Chinese government sees the development of hydropower alternative coal (currently 70 per cent of China's energy provide coal energy). On the government plans for construction of 20 dams, reported the press Syi Hu (Hu Siyi), Deputy Minister of Water Resources of China.
Meanwhile, according to the AP, these plans are fears among Chinese ecologists. A recent report by the Chinese Academy of Sciences pointed out that the HPP Three Gorges "has harmed the river ecosystem, including fishery resources. Moreover, as noted experts, since 2006, due to climatic change of rainfall in the world is reduced, so the prospects for development of small hydropower.
According to the State Committee on Water Resources of the Yangtze, is now used by 36 per cent of the energy capacity of the rivers. By 2060 the Government of China has plans to use 60 per cent. According to the AP, the state of "Xinhua reported in April 2009 that, beginning in 2003, the HPP Three Gorges provides 8.8 percent enegropotrebnostey China. Recall the construction of the world's largest hydro power was launched in 1992.
On the Yangtze is already the world's largest hydroelectric power station "Three Gorges", construction of which will be completed by 2010. AP notes that the Chinese government sees the development of hydropower alternative coal (currently 70 per cent of China's energy provide coal energy). On the government plans for construction of 20 dams, reported the press Syi Hu (Hu Siyi), Deputy Minister of Water Resources of China.
Meanwhile, according to the AP, these plans are fears among Chinese ecologists. A recent report by the Chinese Academy of Sciences pointed out that the HPP Three Gorges "has harmed the river ecosystem, including fishery resources. Moreover, as noted experts, since 2006, due to climatic change of rainfall in the world is reduced, so the prospects for development of small hydropower.
According to the State Committee on Water Resources of the Yangtze, is now used by 36 per cent of the energy capacity of the rivers. By 2060 the Government of China has plans to use 60 per cent. According to the AP, the state of "Xinhua reported in April 2009 that, beginning in 2003, the HPP Three Gorges provides 8.8 percent enegropotrebnostey China. Recall the construction of the world's largest hydro power was launched in 1992.
Yushchenko has found shortcomings in the arrangements Tymoshenko and IMF.
KommentariiKreditor last nadezhdy20.04.2009Missiya the IMF will continue lending to Ukraine Ukrainian President Viktor Yushchenko has asked Prime Minister Yulia Tymoshenko to review and refine the government regulations, adopted for the second tranche adjustment loans from the International Monetary Fund (IMF ). UNIAN reported with reference to a letter from the Ukrainian president, addressed to the Head of Government.
Remember, as a condition for receiving the next tranche of IMF credit demanded from Ukraine a number of bills aimed at improving fiscal discipline. But in April the Verkhovna Rada refused to even make them on the agenda of its meetings, after which the Cabinet of Ministers at its extraordinary meeting on April 14, took them to bypass the parliament as a self-regulations. In particular, a balanced budget "Naftogaz Ukraine" and the Pension Fund, as well as the decision to recapitalize the system of credit institutions, in which the administration launched the National Bank of Ukraine.
In a letter Yushchenko stressed that welcomes government action on the adoption of separate decisions necessary for the continuation of cooperation with the IMF. However, in a package of regulations, there are a number of acts that do not require settlement in cooperation with the IMF. These regulations need to be reviewed.
The IMF agreed to provide Ukraine a loan of 16.5 billion dollars more in autumn 2008. The first tranche of a loan of 4,5 billion dollars was received at the same time, the second - at 1.9 billion - was due to the country in February this year, and a third, amounting to 3.73 billion, is expected in May. However, the IMF suspended disbursement of funds Ukrainian side, in particular, due to the adoption of the budget deficit country.
17 April, the IMF mission in Ukraine agreed that Ukraine's budget deficit could reach 4 percent of GDP. In addition, the mission said they would recommend to the Ukrainian side of the second tranche of the loan to 2.8 billion dollars.
Remember, as a condition for receiving the next tranche of IMF credit demanded from Ukraine a number of bills aimed at improving fiscal discipline. But in April the Verkhovna Rada refused to even make them on the agenda of its meetings, after which the Cabinet of Ministers at its extraordinary meeting on April 14, took them to bypass the parliament as a self-regulations. In particular, a balanced budget "Naftogaz Ukraine" and the Pension Fund, as well as the decision to recapitalize the system of credit institutions, in which the administration launched the National Bank of Ukraine.
In a letter Yushchenko stressed that welcomes government action on the adoption of separate decisions necessary for the continuation of cooperation with the IMF. However, in a package of regulations, there are a number of acts that do not require settlement in cooperation with the IMF. These regulations need to be reviewed.
The IMF agreed to provide Ukraine a loan of 16.5 billion dollars more in autumn 2008. The first tranche of a loan of 4,5 billion dollars was received at the same time, the second - at 1.9 billion - was due to the country in February this year, and a third, amounting to 3.73 billion, is expected in May. However, the IMF suspended disbursement of funds Ukrainian side, in particular, due to the adoption of the budget deficit country.
17 April, the IMF mission in Ukraine agreed that Ukraine's budget deficit could reach 4 percent of GDP. In addition, the mission said they would recommend to the Ukrainian side of the second tranche of the loan to 2.8 billion dollars.
Ministry of Finance has introduced a reform of UST in the main tax bill.
Comments not found, not weighed "16.04.2009Kudrin pozhuril Assistant Medvedev and the Minister of Economic Development for optimism Crisis nalogooblozhenie14.04.2009Chinovniki invented several tax reformSyuzhetyBorba reduction NDS15.04.2009Dvorkovich promised reduction the VAT rate in 2011 goduMinfin completed the "Basic directions of tax policy for 2010-2012 years", without specifying in any detail the planned government reforms in 2010 the unified social tax (UST). Also in the document there is no word on the reduction of VAT rates, which offset the anticipated increase in business tax burden. The newspaper Kommersant wrote that the withdrawal from the reform of the Ministry of Finance UST can only stop the forthcoming budget message from the President of the country.
Reform UST in "Key" is devoted only one sentence, which states that the tax in 2010 will be repealed. The new insurance premiums, which will be replaced by UST, taxes are not, therefore, will be administered Pension Fund (RPF), alone and in the competence of the Ministry of Finance, which is controlled Revenue Service no longer fall. It should be noted that earlier the Ministry of Finance opposed the transfer of control of the RPF collects payments.
Recall and replacement of UST (rate - 26 per cent) three sotsplatezhami in pension, medical and social funds will occur in 2010 and for 2011 planned increase pressures on the labor remuneration fund from 26 to 34 percent. Estimates of the Future Enhancement of tax burdens vary and range from 300 billion to 1.4 trillion rubles.
The newspaper Vedomosti said that the draft MOF has not yet been agreed. Now the Ministry of Economic Development is preparing its counter-proposals for the "main lines".
Recall that the Ministry of Finance serves to dramatically reduce the VAT. For example, the Minister of Finance of Russia Alexey Kudrin considers "statements to the public" suggestions, Assistant President of Russia Arkady Dvorkovich (prepares the budget message) and the Minister of Economic Development Elvira Nabiullina compensation business replacement UST at the insurance premiums.
Dvorkovich previously served with the statement that the State may reduce the VAT in 2011, and Elvira Nabiullina proposed to exempt from VAT and advances to improve the depreciation bonus to 50 percent (this measure is also not included in the "main direction" MOF). According to Kudrin, think about reducing any taxes in 2011 was premature.
The budget message - the traditional treatment of President of Russia to the Federal Assembly. Message from the President determines the priorities of the Russian economy over the next three years. Moreover, in this paper the President may instruct the Government to develop and carry out some reforms. Usually, the president signs the message at the end of May.
Reform UST in "Key" is devoted only one sentence, which states that the tax in 2010 will be repealed. The new insurance premiums, which will be replaced by UST, taxes are not, therefore, will be administered Pension Fund (RPF), alone and in the competence of the Ministry of Finance, which is controlled Revenue Service no longer fall. It should be noted that earlier the Ministry of Finance opposed the transfer of control of the RPF collects payments.
Recall and replacement of UST (rate - 26 per cent) three sotsplatezhami in pension, medical and social funds will occur in 2010 and for 2011 planned increase pressures on the labor remuneration fund from 26 to 34 percent. Estimates of the Future Enhancement of tax burdens vary and range from 300 billion to 1.4 trillion rubles.
The newspaper Vedomosti said that the draft MOF has not yet been agreed. Now the Ministry of Economic Development is preparing its counter-proposals for the "main lines".
Recall that the Ministry of Finance serves to dramatically reduce the VAT. For example, the Minister of Finance of Russia Alexey Kudrin considers "statements to the public" suggestions, Assistant President of Russia Arkady Dvorkovich (prepares the budget message) and the Minister of Economic Development Elvira Nabiullina compensation business replacement UST at the insurance premiums.
Dvorkovich previously served with the statement that the State may reduce the VAT in 2011, and Elvira Nabiullina proposed to exempt from VAT and advances to improve the depreciation bonus to 50 percent (this measure is also not included in the "main direction" MOF). According to Kudrin, think about reducing any taxes in 2011 was premature.
The budget message - the traditional treatment of President of Russia to the Federal Assembly. Message from the President determines the priorities of the Russian economy over the next three years. Moreover, in this paper the President may instruct the Government to develop and carry out some reforms. Usually, the president signs the message at the end of May.
Gazprom called the largest gas suppliers in 2030.
After 2030, the world will be only three major suppliers of gas - Iran, Qatar and Russia. The statement was made by Deputy Chairman of Gazprom, Alexander Medvedev, the PRIME-TASS. He added that all other suppliers through the 20-25 years old will not be able to fill existing and projected gas pipeline systems.
Medvedev also said that in the long run, European consumers will require additional amounts of fuel. At the same time expect that the supply of liquefied natural gas (LNG) will not be able to fully supply these volumes. According to him, there is at least about 100 billion cubic meters of gas a year.
Alexander Medvedev said that demand growth in Europe requires the implementation of the new gas pipeline projects, in particular, the pipeline "Nord Stream and South Stream." It is anticipated that the gas will supply the European countries Russian gas through the bottom of the Baltic and Black Seas, respectively.
According to the CIA World Factbook, at the beginning of 2008, Russia possesses the largest proven reserves of natural gas in the world - about 44.7 trillion cubic meters. Iran and Qatar were the second and third place (26.8 and 25.6 trillion cubic meters, respectively). Going to the fourth position of Saudi Arabia has only 7 trillion cubic meters.
In October 2008 the leaders of the gas industry of Russia, Iran and Qatar announced the creation of so-called "gas troika", which is scheduled to discuss issues related to the global gas market. Each side has rejected the assumption that the "troika" could be established to govern the world price for this type of fuel.
Earlier, representatives of Gazprom, which produces about 90 percent of Russian gas, said that over the next five years, mining monopoly could be reduced by 10 percent. The reasons cited reduced demand for gas in the world due to global economic crisis.
Medvedev also said that in the long run, European consumers will require additional amounts of fuel. At the same time expect that the supply of liquefied natural gas (LNG) will not be able to fully supply these volumes. According to him, there is at least about 100 billion cubic meters of gas a year.
Alexander Medvedev said that demand growth in Europe requires the implementation of the new gas pipeline projects, in particular, the pipeline "Nord Stream and South Stream." It is anticipated that the gas will supply the European countries Russian gas through the bottom of the Baltic and Black Seas, respectively.
According to the CIA World Factbook, at the beginning of 2008, Russia possesses the largest proven reserves of natural gas in the world - about 44.7 trillion cubic meters. Iran and Qatar were the second and third place (26.8 and 25.6 trillion cubic meters, respectively). Going to the fourth position of Saudi Arabia has only 7 trillion cubic meters.
In October 2008 the leaders of the gas industry of Russia, Iran and Qatar announced the creation of so-called "gas troika", which is scheduled to discuss issues related to the global gas market. Each side has rejected the assumption that the "troika" could be established to govern the world price for this type of fuel.
Earlier, representatives of Gazprom, which produces about 90 percent of Russian gas, said that over the next five years, mining monopoly could be reduced by 10 percent. The reasons cited reduced demand for gas in the world due to global economic crisis.
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