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Forex · News · Forex Forecasts

NEWS / Forex Forecasts

Market is dull because of adjustment of world oil prices quotations.

18:56 04/26/2006

MACROECONOMICS

 

Since June, 1st, 2006 export oil duty can reach a record level of $200 for ton, the deputy chief of a department of customs payments of the Ministry of Finance of the Russian Federation Alexander Sakovich informed RIA News. "Since June, 1st export oil duty can reach $200 for ton. If for last three trading days of April the price for Urals oil in the world markets will remain at an interval $63-67 for barrel the export duty can make $198,5-200 for ton", - Sakovich noted.

 

Now export oil duty, established since April, 1st, makes $186,4 for ton. The duty is established once in two months proceeding from monitoring of prices for the Russian Urals oil in the world markets. According to Sakovich the average price of Urals oil in March-April, 2006 will make $60,8-61 for barrel.

 

Light oil duty can make about $146 for ton, black oil - about $79 for ton.

The government regulation of the Russian Federation about the new size of export oil duties should be published till May, 20th, 2006 and will come into force since June, 1st. The RF government regulation about export mineral oil duties, according to Sakovich, can come into force at the end of June-beginning of July.

 

Moscow arbitrage has appointed adjudication of claim of NK JUKOS shareholder about invalidation of decision of shareholders’ assembly on Stephen Teedy president assignment on June, 5th. The arbitrage press-service informed journalists on Wednesday.

As it was informed earlier the claim of UKOS shareholder Valery Barmin was entertained by the court on April, 24th of current year.

Stephen Teedy was designated as UKOS Board Chairman by the decision of directors’ board on June, 24th, 2004, having replaced Simeon Kukes.

 

In Nigeria the new bulk-oil terminal was put into action. So, on a shelf of Guinea Gulf construction of bulk-oil terminal Erha has been finished. The proprietor of the object and its operator is the affiliated division of American oil company Esso, working in Nigeria, - EEPNL (Esso Exploration and Production Nigeria Limited).

 

The terminal is equipped by the underwater storage for 2,2 million of oil barrels, and special anchor parking for tankers. Trial export oil shipment from the new terminal took place on April, 16-18th, RBC informs.

 

Till April, 2006 Nigeria had six bulk-oil terminals: Forcados and Bonny (operator - Shell); Escravos and Pennington (operator - Chevron); Qua Iboe (operator - Exxon Mobil); Brass (operator - Agip). Nigeria is the largest oil producer in Africa and the eighth world oil exporter. Practically all oil, made in the country, is exported, and its basic consumers are the USA and the countries of the Western Europe. In January, 2006 Nigeria made daily about 2,5 million barrels of oil, half of which was exported in the USA. Since February, 2006 oil delivery from Nigeria fell almost 25 % because of proceeding disorders in the south of the country. So, oil shipments from Forcados terminal have not been renewed yet.

 

 

MARKET”S GENERAL ASSESSMENT

 

On results of Tuesday the basic share indexes showed mixed dynamics at quite low activity of the tenders. Investors’ enthusiasm to continue to bull lessens from session to session, and record oil and nonferrous metals prices is not enough for the further growth of papers. On results of day RTS index managed to be closed in "plus", having added 0,14 % - up to 1627,51 points, MISE index lost 1,09 %, having decreased to 1454,64 points. Norilsk Nickel quotations were up 0,38 % in MISE (+4,47 % in RTS) on Tuesday.

 

Besides a proceeding rally in copper market, support to shares of the metallurgical company was rendered by news that Norilsk Nickel and Rio Tinto announced creation of the joint venture on geological exploration and project development in Russia. It is planned that within the limits of the joint venture the Australian partner of the Russian metallurgical concern will share wide experience, modern technologies, and also financial resources for development of new and existing deposits with Norilsk Nickel. Sberbank shares on a background of publication of results of bank’s activity for 2005, net profit of the credit organization grew 3,6 times more, were closed with growth on 0,77 % (+1,80 % in RTS). Other "markers" dipped. So, LUKOIL shares were down 0,86 % in Moscow Interbank Stock Exchange (-0,22 % in RTS), Tatneft - 1,76 % (+1,93 % in RTS), Sibneft - 4,14 %, Surgutneftegaz - 3,27 % (0,57 % in RTS), ROS "EES" - 1,34 % (+0,46 % in RTS), Rostelecom - 0,79 % (+1,42 % in RTS), Gasprom - 0,69 % (-0,28 % in RTS).

Turnovers of the tenders in RTS made $547,32 million, in MISE - $2415,44 million.

 

 

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