UPI Energy Watch

By ANDREA R. MIHAILESCU, UPI Energy Correspondent   |   March 4, 2008 at 3:34 PM
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Sudan's total oil revenues hit $582M in January

Sudan's total oil revenues for the month of January amounted to $582.12 million, from which $464.7 million were the exports' proceeds and $117.53 million were revenues of the crude oil used by local refineries, state-owned Sudanese news agency Suna reported.

During the meeting of the Joint Committee on Determination and Allocation of Oil Revenues between the Government of National Unity and the Government of Southern Sudan held Monday, Undersecretary of the Ministry of Finance and National Economy Al-Tayyib Abu-Ganayah pointed out that the GoNU share was $350.38 million whereas the GoSS share was $231.39 million for last January.

He said that the direct transfers to GoSS for the same month were $223.07 million as the direct spending on GoSS reached $1.32 million, adding that the amount of money deposited in the Oil Revenues Stabilization Account in January was $95.11 million.

There were not any withdrawals from ORSA during the said month, he said.

Abu-Ganayah said that the share of the oil-producing states was $11.88 million, from which $10.88 million was transferred to those states.

Gazprom neither confirms nor denies its gas cuts to Ukraine

Gazprom has so far neither confirmed nor denied reports about the reduction of gas supplies to Ukraine by 35 percent, Itar-Tass reported.

Earlier in the day, Naftogaz Ukrainy claimed it had received a telegram from Gazprom, notifying it about the reduction of gas supplies to Ukraine by another 10 percent.

Naftogaz Ukrainy Chief Spokesman Valentin Zemlyansky said Ukraine consumed about 150 million cubic meters of gas daily.

"Considering warm weather, this amount naturally decreases. So this is not critical for Ukraine now," he said.

Zemlyansky said: "Naftogaz Ukrainy has its own reserves and is ready to use them to meet the needs of all consumers in Ukraine. These reserves should last at least for a month," he said.

"At 09:35 (10:35 Moscow time) on Monday, Ukrtransgaz received an official telegram on the reduction of supplies from Gazprom by 25 percent of daily volumes. This is 38 million cubic meters a day in absolute figures. As of now, Naftogaz Ukrainy has received another telegram from Gazprom about a further reduction by 10 percent to 46 million cubic meters daily," Zemlyansky said.

Following Ukraine's failure to pay the debt for previous gas supplies, "Gazprom cut down on gas supplies for Ukrainian consumers by 25 percent at 10:00 today in order to ensure its economic interests," Gazprom spokesman Sergei Kupriyanov said.

"Gas supplies to European consumers continue and will continue in full. Gazprom is ready to continue negotiations with the Ukrainian side," the spokesman said.

He said the Russian company had "reduced gas transportation by 16 million cubic meters a day through the gas metering station Mozyr and by 24 million cubic meters a day through the gas metering station Sudzha."

Iranian, Iraqi officials discuss power line construction

Provincial officials and the governor of Chuman of Iraqi Kurdistan Region held talks about transferring electricity from West Azarbayjan to Chuman, state-run Azarbayjan provincial television reported.

The meeting was held in the hall of West Azarbayjan's electricity distribution company this morning in Orumiyeh.

Ali Nikbakht, director for political and security affairs of the governor-general's office in West Azarbayjan, noted lots of cultural similarities between people of West Azarbayjan and Iraqi Kurdistan.

He said that the Islamic Republic of Iran is ready to help Iraqis in all areas.

At the meeting, Alireza Atabaki, director of West Azarbayjan's electricity distribution company, said they are ready to construct a 400-volt power line with a capacity of 100 megawatts from West Azarbayjan to Soran town in Iraqi Kurdistan.

Abdolvahed Hoseyni Gavani, the governor of Chuman, said there is a need for electricity in the city of Chuman and that they would like to obtain electricity from the Islamic Republic of Iran.

At the meeting, both sides agreed to study the techniques needed to build a power line from West Azarbayjan to the city of Chuman in Iraq.


Closing oil prices, Mar. 4, 3 p.m. London

Brent crude oil: $101.12

West Texas Intermediate crude oil: $103.01


(e-mail: energy@upi.com)

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