DOCSLIB.ORG

Russia Nickel Mining Market Overview and Forecast to 2020: Trends, Fiscal Regime, Major Projects, and Competitive Landscape

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Russia Nickel Mining Market Overview and Forecast to 2020: Trends, Fiscal Regime, Major Projects, and Competitive Landscape Russia Nickel Mining Market Overview and Forecast to 2020: Trends, Fiscal Regime, Major Projects, and Competitive Landscape Reference Code: GDMMNI008IDB Publication Date: Apr 2012 Russia Nickel Mining Market Overview and Forecast to 2020 GDMMNI008IDB /Published APR 2012 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form Page 1 Table of Contents 1 Table of Contents 1 Table of Contents ......................................................................................................... 2 1.1 List of Tables ....................................................................................................................................................... 5 1.2 List of Figures ..................................................................................................................................................... 5 2 Executive Summary ..................................................................................................... 6 2.1 Largest Nickel Mine Producer ........................................................................................................................ 6 2.2 Volatility in Nickel Prices ................................................................................................................................. 7 3 Introduction .................................................................................................................. 8 3.1 GlobalData Report Guidance .......................................................................................................................... 8 4 Russia, Nickel Mining Industry – Drivers and Restraints ......................................... 9 4.1 Russia, Nickel Mining Industry – Drivers .................................................................................................... 9 4.1.1 Substantial Investments to Support Mining Activities ............................................................................. 9 4.1.2 Major Sport Events Lead to Surge in Demand ........................................................................................ 9 4.2 Russia, Nickel Mining Industry – Restraints ............................................................................................. 10 4.2.1 New Export Tax to Discourage Miners ................................................................................................... 10 4.2.2 Nickel Prices to Decline by 2017 ............................................................................................................. 10 4.2.3 Occupational Health and Safety Hazards............................................................................................... 10 4.2.4 Subsoil Law ................................................................................................................................................. 10 5 Russia, Nickel Mining Industry – Nickel Mine Production and Reserves ............. 11 5.1 Russia, Nickel Mining Industry – Nickel Mine Production .................................................................... 11 5.2 Russia, Nickel Mining Industry – Nickel Reserves .................................................................................. 13 6 Russia, Nickel Industry – Nickel Metal Consumption ............................................. 15 7 Russia, Nickel Industry – Nickel Ores and Concentrates, Exports and Imports Scenario ..................................................................................................................... 17 8 Russia Nickel Mining Industry – Top Active and Planned Projects ...................... 19 Russia Nickel Mining Market Overview and Forecast to 2020 GDMMNI008IDB /Published APR 2012 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form Page 2 Table of Contents 8.1 Russia Nickel Mining Industry – Top Active Projects ............................................................................ 19 8.2 Russia Nickel Mining Industry – Mine Profile ........................................................................................... 20 8.2.1 Severny Nickel Mine .................................................................................................................................. 20 8.2.2 Oktyabrsky Nickel Mine ............................................................................................................................. 20 8.2.3 Taimyrsky Nickel Mine............................................................................................................................... 21 8.2.4 Komsomolsky Nickel Mine ........................................................................................................................ 21 8.3 Russia Nickel Mining Industry – Planned Projects ................................................................................. 22 9 Russia, Nickel Mining Industry – Fiscal Regime ..................................................... 23 9.1 Russia, Governing Bodies ............................................................................................................................. 23 9.1.1 Ministry of Natural Resources and Environment of the Russian Federation .................................... 23 9.1.2 Federal Agency on Mineral Resources ................................................................................................... 23 9.1.3 Federal Service for Environmental, Technological, and Nuclear Surveillance ................................. 23 9.2 Russia, Governing Law .................................................................................................................................. 24 9.2.1 Subsoil Law ................................................................................................................................................. 24 9.2.1.1 Issuance ......................................................................................................................................................... 24 9.2.1.2 Types .............................................................................................................................................................. 24 9.2.2 Subsoil Use Licensing Regulations ......................................................................................................... 25 9.3 Russia, Rights and Obligations.................................................................................................................... 25 9.3.1 Rights ........................................................................................................................................................... 25 9.3.2 Obligations .................................................................................................................................................. 25 9.4 Russia, Key Fiscal Terms .............................................................................................................................. 26 9.4.1 Severance Tax ........................................................................................................................................... 26 9.4.2 Corporate Income Tax ............................................................................................................................... 26 9.4.3 Russia Property Tax .................................................................................................................................. 26 9.4.4 Capital Gains .............................................................................................................................................. 26 9.4.5 Withholding Tax .......................................................................................................................................... 26 9.4.6 Depreciation ................................................................................................................................................ 27 9.4.7 Loss Carried Forward ................................................................................................................................ 27 9.4.8 Value Added Tax ........................................................................................................................................ 27 10 Russia, Nickel Mining Industry – Competitive Landscape ..................................... 28 10.1 Russia, Nickel Mining Industry – Key Companies, OJSC MMC Norilsk Nickel (Norilsk Nickel) . 29 10.1.1 OJSC MMC Norilsk Nickel (Norilsk Nickel), Overview ......................................................................... 29 10.1.2 OJSC MMC Norilsk Nickel (Norilsk Nickel), Business Description ..................................................... 29 10.1.3 OJSC MMC Norilsk Nickel (Norilsk Nickel), Nickel Projects ................................................................ 30 Russia Nickel Mining Market Overview and Forecast to 2020 GDMMNI008IDB /Published APR 2012 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form Page 3 Table of Contents 10.2 Russia, Nickel Mining Industry – Key Companies, Mechel OAO (Mechel) ....................................... 30 10.2.1 Mechel OAO (Mechel), Overview ............................................................................................................ 30 10.2.2 Mechel OAO (Mechel), Business Description .......................................................................................
Load more

Recommended publications
  • Expiry Notice
    Expiry Notice 19 January 2018 London Stock Exchange Derivatives Expiration prices for IOB Derivatives Please find below expiration prices for IOB products expiring in January 2018: Underlying Code Underlying Name Expiration Price AFID AFI DEVELOPMENT PLC 0.1800 ATAD PJSC TATNEFT 58.2800 FIVE X5 RETAIL GROUP NV 39.2400 GAZ GAZPROM NEFT 23.4000 GLTR GLOBALTRANS INVESTMENT PLC 9.9500 HSBK JSC HALYK SAVINGS BANK OF KAZAKHSTAN 12.4000 HYDR PJSC RUSHYDRO 1.3440 KMG JSC KAZMUNAIGAS EXPLORATION PROD 12.9000 LKOD PJSC LUKOIL 67.2000 LSRG LSR GROUP 2.9000 MAIL MAIL.RU GROUP LIMITED 32.0000 MFON MEGAFON 9.2000 MGNT PJSC MAGNIT 26.4000 MHPC MHP SA 12.8000 MDMG MD MEDICAL GROUP INVESTMENTS PLC 10.5000 MMK OJSC MAGNITOGORSK IRON AND STEEL WORKS 10.3000 MNOD MMC NORILSK NICKEL 20.2300 NCSP PJSC NOVOROSSIYSK COMM. SEA PORT 12.9000 NLMK NOVOLIPETSK STEEL 27.4000 NVTK OAO NOVATEK 128.1000 OGZD GAZPROM 5.2300 PLZL POLYUS PJSC 38.7000 RIGD RELIANCE INDUSTRIES 28.7000 RKMD ROSTELEKOM 6.9800 ROSN ROSNEFT OJSC 5.7920 SBER SBERBANK 18.6900 SGGD SURGUTNEFTEGAZ 5.2450 SMSN SAMSUNG ELECTRONICS CO 1148.0000 SSA SISTEMA JSFC 4.4200 SVST PAO SEVERSTAL 16.8200 TCS TCS GROUP HOLDING 19.3000 TMKS OAO TMK 5.4400 TRCN PJSC TRANSCONTAINER 8.0100 VTBR JSC VTB BANK 1.9370 Underlying code Underlying Name Expiration Price D7LKOD YEAR 17 DIVIDEND LUKOIL FUTURE 3.2643 YEAR 17 DIVIDEND MMC NORILSK NICKEL D7MNOD 1.8622 FUTURE D7OGZD YEAR 17 DIVIDEND GAZPROM FUTURE 0.2679 D7ROSN YEAR 17 DIVIDEND ROSNEFT FUTURE 0.1672 D7SBER YEAR 17 DIVIDEND SBERBANK FUTURE 0.3980 D7SGGD YEAR 17 DIVIDEND SURGUTNEFTEGAZ FUTURE 0.1000 D7VTBR YEAR 17 DIVIDEND VTB BANK FUTURE 0.0414 Members are asked to note that reports showing exercise/assignments should be available by approx.
    [Show full text]
  • FY2020 Financial Results
    Norilsk Nickel 2020 Financial Results Presentation February 2021 Disclaimer The information contained herein has been prepared using information available to PJSC MMC Norilsk Nickel (“Norilsk Nickel” or “Nornickel” or “NN”) at the time of preparation of the presentation. External or other factors may have impacted on the business of Norilsk Nickel and the content of this presentation, since its preparation. In addition all relevant information about Norilsk Nickel may not be included in this presentation. No representation or warranty, expressed or implied, is made as to the accuracy, completeness or reliability of the information. Any forward looking information herein has been prepared on the basis of a number of assumptions which may prove to be incorrect. Forward looking statements, by the nature, involve risk and uncertainty and Norilsk Nickel cautions that actual results may differ materially from those expressed or implied in such statements. Reference should be made to the most recent Annual Report for a description of major risk factors. There may be other factors, both known and unknown to Norilsk Nickel, which may have an impact on its performance. This presentation should not be relied upon as a recommendation or forecast by Norilsk Nickel. Norilsk Nickel does not undertake an obligation to release any revision to the statements contained in this presentation. The information contained in this presentation shall not be deemed to be any form of commitment on the part of Norilsk Nickel in relation to any matters contained, or referred to, in this presentation. Norilsk Nickel expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the contents of this presentation.
    [Show full text]
  • The Russia You Never Met
    The Russia You Never Met MATT BIVENS AND JONAS BERNSTEIN fter staggering to reelection in summer 1996, President Boris Yeltsin A announced what had long been obvious: that he had a bad heart and needed surgery. Then he disappeared from view, leaving his prime minister, Viktor Cher- nomyrdin, and his chief of staff, Anatoly Chubais, to mind the Kremlin. For the next few months, Russians would tune in the morning news to learn if the presi- dent was still alive. Evenings they would tune in Chubais and Chernomyrdin to hear about a national emergency—no one was paying their taxes. Summer turned to autumn, but as Yeltsin’s by-pass operation approached, strange things began to happen. Chubais and Chernomyrdin suddenly announced the creation of a new body, the Cheka, to help the government collect taxes. In Lenin’s day, the Cheka was the secret police force—the forerunner of the KGB— that, among other things, forcibly wrested food and money from the peasantry and drove some of them into collective farms or concentration camps. Chubais made no apologies, saying that he had chosen such a historically weighted name to communicate the seriousness of the tax emergency.1 Western governments nod- ded their collective heads in solemn agreement. The International Monetary Fund and the World Bank both confirmed that Russia was experiencing a tax collec- tion emergency and insisted that serious steps be taken.2 Never mind that the Russian government had been granting enormous tax breaks to the politically connected, including billions to Chernomyrdin’s favorite, Gazprom, the natural gas monopoly,3 and around $1 billion to Chubais’s favorite, Uneximbank,4 never mind the horrendous corruption that had been bleeding the treasury dry for years, or the nihilistic and pointless (and expensive) destruction of Chechnya.
    [Show full text]
  • Notes on Moscow Exchange Index Review
    Notes on Moscow Exchange index review Moscow Exchange approves the updated list of index components and free float ratios effective from 16 March 2018. X5 Retail Group N.V. (DRs) will be added to Moscow Exchange indices with the expected weight of 1.13 per cent. As these securities were offered initially, they were added without being in the waiting list under consideration. Thus, from 16 March the indices will comprise 46 (component stocks. The MOEX Russia and RTS Index moved to a floating number of component stocks in December 2017. En+ Group plc (DRs) will be in the waiting list to be added to Moscow Exchange indices, as their liquidity rose notably over recent three months. NCSP Group (ords) with low liquidity, ROSSETI (ords) and RosAgro PLC with their weights now below the minimum permissible level (0.2 per cent) will be under consideration to be excluded from the MOEX Russia Index and RTS Index. The Blue Chip Index constituents remain unaltered. X5 Retail Group (DRs), GAZ (ords), Obuvrus LLC (ords) and TNS energo (ords) will be added to the Broad Market Index, while Common of DIXY Group and Uralkali will be removed due to delisting expected. TransContainer (ords), as its free float sank below the minimum threshold of 5 per cent, and Southern Urals Nickel Plant (ords), as its liquidity ratio declined, will be also excluded. LSR Group (ords) will be incuded into SMID Index, while SOLLERS and DIXY Group (ords) will be excluded due to low liquidity ratio. X5 Retail Group (DRs) and Obuvrus LLC (ords) will be added to the Consumer & Retail Index, while DIXY Group (ords) will be removed from the Index.
    [Show full text]
  • Russia's Arctic Cities
    ? chapter one Russia’s Arctic Cities Recent Evolution and Drivers of Change Colin Reisser Siberia and the Far North fi gure heavily in Russia’s social, political, and economic development during the last fi ve centuries. From the beginnings of Russia’s expansion into Siberia in the sixteenth century through the present, the vast expanses of land to the north repre- sented a strategic and economic reserve to rulers and citizens alike. While these reaches of Russia have always loomed large in the na- tional consciousness, their remoteness, harsh climate, and inaccessi- bility posed huge obstacles to eff ectively settling and exploiting them. The advent of new technologies and ideologies brought new waves of settlement and development to the region over time, and cities sprouted in the Russian Arctic on a scale unprecedented for a region of such remote geography and harsh climate. Unlike in the Arctic and sub-Arctic regions of other countries, the Russian Far North is highly urbanized, containing 72 percent of the circumpolar Arctic population (Rasmussen 2011). While the largest cities in the far northern reaches of Alaska, Canada, and Greenland have maximum populations in the range of 10,000, Russia has multi- ple cities with more than 100,000 citizens. Despite the growing public focus on the Arctic, the large urban centers of the Russian Far North have rarely been a topic for discussion or analysis. The urbanization of the Russian Far North spans three distinct “waves” of settlement, from the early imperial exploration, expansion of forced labor under Stalin, and fi nally to the later Soviet development 2 | Colin Reisser of energy and mining outposts.
    [Show full text]
  • Global Expansion of Russian Multinationals After the Crisis: Results of 2011
    Global Expansion of Russian Multinationals after the Crisis: Results of 2011 Report dated April 16, 2013 Moscow and New York, April 16, 2013 The Institute of World Economy and International Relations (IMEMO) of the Russian Academy of Sciences, Moscow, and the Vale Columbia Center on Sustainable International Investment (VCC), a joint center of Columbia Law School and the Earth Institute at Columbia University in New York, are releasing the results of their third survey of Russian multinationals today.1 The survey, conducted from November 2012 to February 2013, is part of a long-term study of the global expansion of emerging market non-financial multinational enterprises (MNEs).2 The present report covers the period 2009-2011. Highlights Russia is one of the leading emerging markets in terms of outward foreign direct investments (FDI). Such a position is supported not by several multinational giants but by dozens of Russian MNEs in various industries. Foreign assets of the top 20 Russian non-financial MNEs grew every year covered by this report and reached US$ 111 billion at the end of 2011 (Table 1). Large Russian exporters usually use FDI in support of their foreign activities. As a result, oil and gas and steel companies with considerable exports are among the leading Russian MNEs. However, representatives of other industries also have significant foreign assets. Many companies remained “regional” MNEs. As a result, more than 66% of the ranked companies’ foreign assets were in Europe and Central Asia, with 28% in former republics of the Soviet Union (Annex table 2). Due to the popularity of off-shore jurisdictions to Russian MNEs, some Caribbean islands and Cyprus attracted many Russian subsidiaries with low levels of foreign assets.
    [Show full text]
  • Treisman Silovarchs 9 10 06
    Putin’s Silovarchs Daniel Treisman October 2006, Forthcoming in Orbis, Winter 2007 In the late 1990s, many Russians believed their government had been captured by a small group of business magnates known as “the oligarchs”. The most flamboyant, Boris Berezovsky, claimed in 1996 that seven bankers controlled fifty percent of the Russian economy. Having acquired massive oil and metals enterprises in rigged privatizations, these tycoons exploited Yeltsin’s ill-health to meddle in politics and lobby their interests. Two served briefly in government. Another, Mikhail Khodorkovsky, summed up the conventional wisdom of the time in a 1997 interview: “Politics is the most lucrative field of business in Russia. And it will be that way forever.”1 A decade later, most of the original oligarchs have been tripping over each other in their haste to leave the political stage, jettisoning properties as they go. From exile in London, Berezovsky announced in February he was liquidating his last Russian assets. A 1 Quoted in Andrei Piontkovsky, “Modern-Day Rasputin,” The Moscow Times, 12 November, 1997. fellow media magnate, Vladimir Gusinsky, long ago surrendered his television station to the state-controlled gas company Gazprom and now divides his time between Israel and the US. Khodorkovsky is in a Siberian jail, serving an eight-year sentence for fraud and tax evasion. Roman Abramovich, Berezovsky’s former partner, spends much of his time in London, where he bought the Chelsea soccer club in 2003. Rather than exile him to Siberia, the Kremlin merely insists he serve as governor of the depressed Arctic outpost of Chukotka—a sign Russia’s leaders have a sense of humor, albeit of a dark kind.
    [Show full text]
  • Press Release (PDF)
    MECHEL REPORTS THE FY2020 FINANCIAL RESULTS Consolidated revenue – 265.5 bln rubles (-8% compared to FY 2019) EBITDA* – 41.1 bln rubles (-23% compared to FY 2019) Profit attributable to equity shareholders of Mechel PAO – 808 mln rubles Moscow, Russia – March 11, 2021 – Mechel PAO (MOEX: MTLR, NYSE: MTL), a leading Russian mining and steel group, announces financial results for the FY 2020. Mechel PAO’s Chief Executive Officer Oleg Korzhov commented: “The Group’s consolidated revenue in 2020 totaled 265.5 billion rubles, which is 8% less compared to 2019. EBITDA amounted to 41.1 billion rubles, which is 23% less year-on-year. “The mining division accounted for about 60% of the decrease in revenue. This was due to a significant decrease in coal prices year-on-year. In conditions of coronavirus limitations, many steelmakers around the world cut down on production, which could not fail to affect the demand for metallurgical coals and their price accordingly. By the year’s end the market demonstrated signs of a recovery, but due to China’s restrictions on Australian coal imports, coal prices outside on China remained low under this pressure. High prices in China have supported our mining division’s revenue to a certain extent. In 4Q2020 we increased shipments to China as best we could considering our long-term contractual obligations to partners from other countries. These circumstances became in many ways the reason for a decrease in our consolidated EBITDA. In Mechel’s other divisions EBITDA dynamics were positive year-on-year. “The decrease in the steel division’s revenue was also due to the coronavirus pandemic.
    [Show full text]
  • Yakutia) “…The Republic of Sakha (Yakutia) Is the Largest Region in the Russian Federation and One of the Richest in Natural Resources
    Investor's Guide to the Republic of Sakha (Yakutia) “…The Republic of Sakha (Yakutia) is the largest region in the Russian Federation and one of the richest in natural resources. Needless to say, the stable and dynamic development of Yakutia is of key importance to both the Far Eastern Federal District and all of Russia…” President of the Russian Federation Vladimir Putin “One of the fundamental priorities of the Government of the Republic of Sakha (Yakutia) is to develop comfortable conditions for business and investment activities to ensure dynamic economic growth” Head of the Republic of Sakha (Yakutia) Egor Borisov 2 Contents Welcome from Egor Borisov, Head of the Republic of Sakha (Yakutia) 5 Overview of the Republic of Sakha (Yakutia) 6 Interesting facts about the Republic of Sakha (Yakutia) 7 Strategic priorities of the Republic of Sakha (Yakutia) investment policy 8 Seven reasons to start a business in the Republic of Sakha (Yakutia) 10 1. Rich reserves of natural resources 10 2. Significant business development potential for the extraction and processing of mineral and fossil resources 12 3. Unique geographical location 15 4. Stable credit rating 16 5. Convenient conditions for investment activity 18 6. Developed infrastructure for the support of small and medium-sized enterprises 19 7. High level of social and economic development 20 Investment infrastructure 22 Interaction with large businesses 24 Interaction with small and medium-sized enterprises 25 Other organisations and institutions 26 Practical information on doing business in the Republic of Sakha (Yakutia) 27 Public-Private Partnership 29 Information for small and medium-sized enterprises 31 Appendix 1.
    [Show full text]
  • RUSSIA WATCH No.2, August 2000 Graham T
    RUSSIA WATCH No.2, August 2000 Graham T. Allison, Director Editor: Ben Dunlap Strengthening Democratic Institutions Project Production Director: Melissa C..Carr John F. Kennedy School of Government Researcher: Emily Van Buskirk Harvard University Production Assistant: Emily Goodhue SPOTLIGHT ON RUSSIA’S OLIGARCHS On July 28 Russian President Vladimir Putin met with 21 of Russia’s most influ- ential businessmen to “redefine the relationship between the state and big busi- ness.” At that meeting, Putin assured the tycoons that privatization results would remained unchallenged, but stopped far short of offering a general amnesty for crimes committed in that process. He opened the meeting by saying: “I only want to draw your attention straightaway to the fact that you have yourselves formed this very state, to a large extent through political and quasi-political structures under your control.” Putin assured the oligarchs that recent investi- The Kremlin roundtable comes at a crucial time for the oligarchs. In the last gations were not part of a policy of attacking big business, but said he would not try to restrict two months, many of them have found themselves subjects of investigations prosecutors who launch such cases. by the General Prosecutor’s Office, Tax Police, and Federal Security Serv- ice. After years of cozying up to the government, buying up the state’s most valuable resources in noncompetitive bidding, receiving state-guaranteed loans with little accountability, and flouting the country’s tax laws with imp u- nity, the heads of some of Russia’s leading financial-industrial groups have been thrust under the spotlight.
    [Show full text]
  • Holborn Gate Master Fax Template
    **CONFERENCE CALL** MECHEL OAO (NYSE:MTL) Scheduled for: Thursday, December 18, 2008 10:00 AM New York Time 3:00 PM London Time 6:00 PM Moscow Time __________________________________________________________________ You are cordially invited to participate on a conference call with the management of Mechel OAO to discuss our 2008 first half and nine months results. Igor Zyuzin, Chief Executive Officer, will host the call. Please call the number below approximately 10 minutes prior to the scheduled time of the call, quoting Mechel, and the chairperson’s name, Alexander Tolkach. Conference Call Phone Numbers: US: +1 718 354 1158 International: +44 20 7138 0810 Confirmation Code: 8468348 The earnings release will be distributed prior to the conference call. In addition, the conference call will be available live via the Internet. To access the call and associated slides, please visit our website at: http://www.mechel.com/investors/fresults/index.wbp on the day of the call. A replay of the call will be available until 11:59PM New York time on December 24th. To access, please dial, US: +1 718 354 1112; UK: +44 20 7806 1970. From both areas, enter: 8468348# to access. MECHEL 2008 FIRST HALF AND NINE MONTHS RESULTS CONFERENCE CALL TO BE BROADCAST OVER THE INTERNET Moscow, Russia — December 15, 2008 — Mechel OAO (NYSE: MTL) announces that it intends to release its results for the first half ending June 30, 2008, and the nine months ending on September 30, 2008 on Thursday, December 18, 2008. In conjunction with this release, Mechel will host a conference call, which will be simultaneously broadcast live over the Internet.
    [Show full text]
  • Evolution in the Russian Gas Market – the Competition for Customers
    Evolution in the Russian Gas Market – The Competition for Customers James Henderson NG 73 January 2013 The contents of this paper are the author’s sole responsibility. They do not necessarily represent the views of the Oxford Institute for Energy Studies, of any of the Institute’s members, and/or of the author’s other affiliations. Copyright © 2013 Oxford Institute for Energy Studies (Registered Charity, No. 286084) This publication may be reproduced in part for educational or non-profit purposes without special permission from the copyright holder, provided acknowledgment of the source is made. No use of this publication may be made for resale or for any other commercial purpose whatsoever without prior permission in writing from the Oxford Institute for Energy Studies. ISBN 978-1-907555-66-4 ii Abbreviations and Units of Measurement bbls Barrels bcm Billion cubic metres bcma Billion cubic metres per annum bn bbls Billion barrels boepd Barrels of oil equivalent per day bpd Barrels per day E&P Exploration and Production ESPO East Siberia – Pacific Ocean (Pipeline) FSU Former Soviet Union IOC International Oil Company kboepd Thousands of barrels of oil equivalent per day kbpd Thousands of barrels per day km Kilometres mm bbls Million barrels mcm Thousands of cubic metres mmboepd Millions of barrels of oil equivalent per day] mmbpd Millions of barrels per day mmbtu Million British thermal units mmcm Millions of cubic metres mmt Millions of tonnes mmtpa Millions of tonnes per annum Mm tonnes Millions of tonnes P&P Proved and Probable tcm
    [Show full text]