Rus News Journal

Rosneft will process LUKOIL

Rosneft plans to increase processing capacities in 15 times - to 150 million t. For this purpose the company wants to get YUKOS actives, European NPZ and capacities in Asia. Ambition of this statement leaves behind even LUKOIL which intends to increase by 2016 processing to 100 million level t in a year. According to branch experts, as a result of a competition of the Russian companies cost of processing actives can strongly increase in Europe.
in published yesterday interview French La Tribune the president Rosneft Sergey Bogdanchikov has informed that the company intends to leave on level of world majors on an oil recovery and processing parity: one to two. In 2005 Rosneft has extracted 73,5 million t oil, this year it is expected that extraction will reach 78 million t. That is, proceeding from words of mister Bogdanchikova, the company intends to increase processing at least to 150 million t (now Rosneft owns processing capacities only on 10,4 million). Even LUKOIL in the ambitious strategy of development presented last week, spoke only about 100 million t.

According to Sergey Bogdanchikova to achieve the objective, Rosneft is going to treble capacities of the NPZ by 2011, on what will be spent $2,9 billion Company has two NPZ the general capacity of 10,4 million t. According to the existing program of their reconstruction, after its end capacity NPZ should reach 19 million t. If Rosneft it will be possible to buy YUKOS actives, 53,2 million more t will be added. Mister Bogdanchikov also has confirmed interest of the company to the enterprises Bashkir TEKa (capacity of processing - 32 million). Besides, Rosneft Eastern Siberia - Pacific ocean (investments into the project will make about $5 mlrd) wants to construct NPZ capacity of 20 million t in a final point of the pipeline. At the most favorable for Rosneft succession of events in the sum 124,2 million t turns out.

the remained capacities Rosneft wants to receive abroad. Sergey Bogdanchikov has declared for the first time that the company has already started to master territory which was recently LUKOIL ancestral lands - the European market of processing. Head Rosneft has explained that actives in Asia and Europe " are considered;: In Europe we carry on negotiations with majors for purchase or shares in NPZ, or them entirely .

In Rosneft have refused to specify, which majors were meant by the president of the company. In full or in part in Europe 17 NPZ belong Shell, 18 - Total, 5 - Exxon Mobil, on 9 - BP and Eni, 2 - Chevron. While sale of actives declared Chevron (31 % in NPZ Nerefco in the Netherlands capacity of 20 million t in a year) and BP (Coryton to Great Britain, 8,6 million t in a year). Both companies have refused to specify, whether they carry on negotiations with Rosneft .

Branch analysts consider possibility of achievement of a parity of extraction and processing about which mister Bogdanchikov, not so realistic speaks. The analyst of Alpha bank Konstantin Batunin notices that, even if Rosneft leaves on this level that is hardly possible in short-term prospect, it should process another`s oil. most likely, would be to develop processing to a parity one to one - the analyst considers. Besides, in view of high profitableness of processing NPZ in Europe are now very demanded, and activity on their sale slept is has confirmed an example of LUKOIL to which have refused to sell NPZ in Rotterdam (see yesterday`s). Konstantin Batunin believes that at Rosneft as well as LUKOIL, there can be problems with acquisition of actives in Europe. Europe - not Russia, and at ` Rosneft ` will not be there an administrative resource - the analyst marks. foreign plans ` Rosneft ` basically lie in the field of prospect - the analyst of MDM - bank Andrey Gromadin believes. At the same time analysts assume that simultaneous realisation of programs of LUKOIL and Rosneft on processing escalating by such rates can to blow up the European prices on NPZ .