Weekly news digest March 10-16, 2014

The political tempests in Ukraine are becoming the determinative factor for the economy of the whole country, and oil and gas industry is not an exception. The main attention is attracted to Crimea, where the pro-Russian organizations, supported by Russia, have seized the power and taken the key objects under the control. The largest enterprises in the half-island are Chernomorneftegaz and Feodosia enterprise on provision the oil products; the new Crimean government is planning to nationalize both of them.
Although, the situation in Kyiv is more peaceful, everybody is standing still and anticipating. The Head of Nafrogaz Evgeniy Bakulin is still occupying his position. Valeriy Yasuk who was assigned one week earlier is temporary dismissed due to the fact that he is allegedly connected with the acquiring of 2 jack-up rigs regarding which there are some questions and suspicions of corruption.

Ukrainian companies
Ukrgazdobicha has conducted the rotation of personnel
Naftogaz: where to find a rescue team
Prodan ordered to get rid of the agents in the gas production agreements with American companies
Foreign companies
BP brand name is leaving Ukraine
The prospects of oil and gas projects of American Exxon Mobil and Italian Eni in the Black sea remain unclear
Politics and world
The Cabinet of Ministers will prepare the list of the higher priority projects for EBRD
Aksenov is going to nationalize Chernomorneftegaz and the fleet of the naval forces of Ukraine
The transition to the market price for energy sources will be gradual – the Minister of Economy
The production of oil and gas is going to be transmitted to Gazprom
EU calls up to weaken the dependence on Russia by the exploration of shale gas