Weekly News Digest October 06 -12, 2014

Last week reverse gas supply from Europe under the agreement between NJSC Naftogaz of Ukraine and Norwegian giant Statoil was commenced. Statoil is a competitor to Gazprom in European gas market and will not miss the opportunity to put competitive pressure on Russian in the traditional markets. However, it should be noted that the help from Norway is a little late, Naftogaz of Ukraine managed to fill UGS only by half.
On the 21st of October there will be held treeparties negotiations between Russian Ukraine and EU in Berlin. For the first time in 4 months Russia in the person of the Minister of Energy Mr. Novak announced that it is ready to restore gas supply to Ukraine. However, for now it is just words.
In Ukraine locally the situation in oil and gas industry is getting heated up. The actions of the Ministry of Finance regarding taxation lead to purposeful destruction of upstream.
Read weekly news of oil-and-gas industry of Ukraine and the world in Oil and Gas Bulletin edited by Andrey Zakrevskiy, director general of the Newfolk LLC.