OIL PRICES HARM THE WORLD ECONOMY

OIL PRICES HARM THE WORLD ECONOMY

The cost of a barrel of oil in excess of $ 50, will hinder the growth of the global economy, said on Tuesday the acting head of OPEC. I think if you exceed the mark of $ 50, followed by retaliatory measures that will affect the growth of the world economy, - said Adnan Shihab-Eldin. We believe that prices should not rise quickly ... to levels that may be harmful to the global economy, - he added.

The price of oil this month exceeded $ 58 per barrel. So far we have been lucky enough: even with prices fluctuating from $ 50 in 2004 and continues to hold at the level of $ 50 (per barrel), the worldwide growth of the economy to cope with it with minimal impact. At the same time, the energy minister of Iraq said Tuesday that the global oil market may be oversaturated with oil.

The market has enough oil, it may be oversupplied, - said Bijan Zanganeh. According to the U.S. government, the supply of black gold in the country, which is the largest consumer of energy, are at a three-year peak, according to Reuters. UAE Minister of Energy at the passing on Trinidad industry conference also said that the oil market is not experiencing supply disruptions. The market is very well supplied. If you need more oil, we will give it - said Mohammed al-Khamili.

Earlier in the meeting between U.S. President Bush and Joji Prince of Saudi Arabia#39;s King Abdullah was announced that the kingdom may, if necessary, to further increase production capacity - up to 15 million barrels per day. Saudi Arabia is the de facto leader of OPEC.

POLISH PETROCHEMICAL COMPANY PREPARES AGREEMENT ON THE JOINT OIL EXPLORATION

POLISH PETROCHEMICAL COMPANY PREPARES agreement on the joint oil exploration

Nafta Polska, Grupa Lotos, PKN Orlen and Polskie Gornictwo Naftowe i Gazownictwo (PGNiG) are preparing an agreement on the joint exploration of oil fields. This was at a meeting of the Polish Sejm Minister Jacek Socha budget. Earlier, the listed company declared a desire to cooperate in the field of search access to new oil fields both domestically and abroad. Thus, Poland may diversify oil supplies, which are currently at 95% is provided by Russian companies. While the details of the collaboration were not disclosed, it is known only that the coordinator of state concern will Nafta Polska.

The company does not intend to buy the field and make concessions for their exploitation. Experts say that getting concessions associated with investments in the hundreds of millions of dollars, which is a great investment even for the Polish petrochemical giants. According to CEO of PKN Orlen Igor Halupets, the company is soon going to start activities to identify areas of production. In February this year, Igor Halupets already reported that his concern will invite other companies to partnerships to gain access to the oil fields. Then the chairman of concern as potential partners called PGNiG and Grupa Lotos, and did not rule out an alliance with the world#39;s largest oil companies.

As already reported rccnews.ru, in January this year, President PGNiG, Nafta Polska, PKN Orlen and Petrovaltic together participated in the negotiations with the leaders of Libya for access to the oil fields of the country. In addition, Nafta Polska reported that, except for Libya, in Polish companies also applies to oil fields in Syria, Sudan, Angola, Yemen, Iran, Jordan and Kazakhstan. Currently, oil exploration and production in Poland has been PGNiG, whose partners are foreign companies.

Own annual oil production in Poland is about 680 thousand tons, and provides only about 2% of the country#39;s industry needs this raw material.

PROFIT OIL COMPANY ROYAL DUTCH / SHELL HAS INCREASED BY 28%

PROFIT OIL COMPANY ROYAL DUTCH / SHELL HAS INCREASED BY 28%

Profit third-largest oil company Royal Dutch / Shell in the first quarter of 2005 increased by 28%, exceeding analysts#39; forecasts. According to Shell, the net profit growth, excluding the value of stocks rose to 5.548 billion dollars Analysts had forecast a profit of 4.698 billion dollars

DEPUTY VASHCHUK NOT EXCLUDE THE AGREEMENT BETWEEN TYMOSHENKO AND REFINERIES ON THE DOLLAR DECLINES IN EXCHANGE FOR REDUCED PRICE

DEPUTY VASHCHUK NOT EXCLUDE THE AGREEMENT BETWEEN Tymoshenko and refineries on the dollar declines IN EXCHANGE FOR REDUCED PRICE

Member of the Committee on Finance and Banking of the Verkhovna Rada of Ukraine Kateryna Vashchuk not rule out that the dollar was sharply reduced as a result of the agreement, Prime Minister Yulia Tymoshenko and the leaders of refineries to reduce the prices of petroleum products. This was the deputy said in an interview to UNIAN. I think all of us could be, and such an arrangement could be because of one day at a pace not change course #39;, - said E. Vashuk. She noted that, on the one hand - it#39;s nice that the national currency strengthened on the other - this affected many Ukrainian exporters.

In addition, she also expressed the view that the sharp depreciation of the dollar suffered many Ukrainian citizens holding savings in foreign currency at home. #39;Money is like tranquility, peace, quiet movement#39;, - said E. Vashuk. She also expressed the need to review the budget for this year, because, she said, the current budget is now accepted at the rate of average annual exchange rate of the hryvnia to the dollar at the level of 5,28 UAH / USD. E. Vashuk stressed that a special hearing held by Parliament last week, showed that, despite the assurances of the NBU and the government to issue a sharp strengthening of the dollar acted in concert.

RAO UES `` POSSIBLE ACQUISITION OF ENERGY IN GEORGIA

RAO UES ``: POSSIBLE ACQUISITION OF ENERGY IN GEORGIA

RAO UES of Russia does not exclude the possibility of the acquisition of distribution utilities in Georgia, said Tuesday RIA Novosti representative of the power. Currently, however, premature to say specifically, as the government of the Republic of Georgia has not yet announced the terms of a possible sale of companies, - said the representative of RAO UES. Earlier it was reported that the Georgian government put up for sale the largest energy projects, including Ajarian power distribution company, to energodistribyutsionnuyu company distributing electricity in western Georgia, and five hydroelectric power plants - Lanzhanur HPP cascade hydropower Humate, Dzevrula HPP and HPP Shaori Rioni HPP. The Ministry of Energy of Georgia reported that as long as we know the name of one of the company - the tenderer.

It is a Russian company RAO UES of Russia, which is interested in Adzharia electricity distribution company. Applications from those who want to buy energy facilities will be accepted until May 15, 2005. The winner of the tender will be announced in May 2006.

RUSSIAN GAS PRODUCTION INCREASES

RUSSIAN GAS PRODUCTION INCREASES

Gas production in Russia in April of this year amounted to 56.08 billion cubic meters, against 53.8 billion cubic meters a year earlier. It is reported by Itar-Tass, citing the Central Dispatch Administration of the fuel and energy complex, which supplies information to the Ministry of Industry. Including gas production company Gazprom in April was 46.44 billion cubic meters, against 46.43 billion cubic meters in the same period last year.

OIL DROPPED IN PRICE SIGNIFICANTLY

OIL DROPPED IN PRICE SIGNIFICANTLY

Prices of oil futures have dropped markedly on May 3, which was caused by the presence of a record from May 2002 commercial crude oil inventories in the U.S. and a slowdown in Western economies. Light Sweet crude oil price per day fell by 2.8% and for the first 11 weeks of closed below $ 50 a barrel. Brent oil price fell by 1.1% and for the first two weeks of closed below $ 51 a barrel. So says the ID #39;Oil and Capital#39;.

The results of trading in futures contracts on May 3 next months are as follows: - in New York on the New York Mercantile Exchange (NYMEX) official price of Texas crude oil WTI / Light Sweet (June) fell 42 cents to $ 1 and set at around $ 49.50 per barrel (the lowest closing price since February 18, 2005.) with a range of quotations for the session $ 49,30-51,01 per barrel - in London at the International Petroleum Exchange (IPE) official price of North Sea oil mix Brent (June) dropped by 57 cents and set at around $ 50.52 per barrel (the lowest closing price since April 13, 2005.) with a range of quotations for the session $ 50,45-51,80 per barrel. Organized on NYMEX trading floor in Dublin oil futures Brent (June) also traded lower, but closed at 5 cents higher than in London. So, its official price of $ 50.57 (-0.43) per barrel in the prices of transactions $ 50,50-51,65 per barrel, informs a source.

GAZPROM `TO RAISE TARIFFS FOR GAS TRANSPORTATION

`` Gazprom to raise tariffs for gas transportation

Gazprom is going to increase this year by 30 percent of the gas transportation tariff for independent producers. With such request gas company appealed to the Federal Tariff Service. If the request is granted, the transit rate will come close to the level of $ 1 per thousand cubic meters of gas per 100 kilometers. This price, according to the company, is a market-oriented and economically feasible. Concern motivates the need to increase the tariff by 30 per cent increase in the price of steel and, therefore, tubular products, as well as the indexation of the price of gas, which is used as fuel in the compressor stations.

Last time the gas transportation tariff for independent producers was increased from 1 October 2004 to 17 percent to 19.37 rubles per thousand cubic meters per 100 kilometers. In this case, to pump their own gas, Gazprom will set their own rates. Meanwhile monopolist asked to raise the tariff for independent companies by 37 percent since January 1, 2005, but failed to approve its budget and, therefore, justify the proposal.

In FTS claims that Gazprom has not yet provided all the necessary documents, including the company#39;s budget, so the service can not say when a decision will be made at the rate.

FRANCE PREPARES FOR CONSTRUCTION OF FUSION REACTOR

FRANCE PREPARES FOR CONSTRUCTION OF FUSION REACTOR

France is preparing for the construction of the International Thermonuclear Experimental Reactor ITER at Cadarache in the south-east of the country, the President of France, Jacques Chirac. As reported by Itar-Tass, speaking yesterday in the transfer of the second channel of French television, the French leader said that the difficult, lasting many months of negotiations to host reactor of the future is nearing completion. The project of creating a new type of reactor ITER involves the EU, U.S., Japan, China, South Korea and Russia. The EU, with the support of Russia and China is seeking the right to build such a reactor in Cadarache, southern France. Until recently, Japan did not agree with the decision and insisted on the implementation of the project of the century on its territory.

On the first sign of the consent of the Japanese side on the European version of placing the experimental reactor and the possibility of reaching an agreement in the coming weeks, told reporters Jeannot Krekka - Minister of Economy and Foreign Trade of Luxembourg, who currently chairs the EU. The announcement was made after a meeting of the EU-Japan with Japanese Prime Minister Junichiro Koizumi, held in Luxembourg

EXPLORED POWERFUL IN UKRAINE OIL FIELD

Explored POWERFUL IN UKRAINE OIL FIELD

In Ukraine, the powerful oil deposits have been explored, but the information on their whereabouts hidden in Moscow. On this Monday, the TV channel Tonis said the representative of the president in the Cabinet Lanovyi. Among the known deposits Lanovoi called oil and gas field offshore Black Sea coast, noting that the actual amount of its reserves to the state is unknown. This was known by those who need - said Lanovoi.

In his view, the deposit is one of the largest in the world. The President#39;s representative in the government also said that oil reserves are found in other regions of the country, but refused to say what specific. This, in particular, the so-called poor regions where people are out of work right now, - he said.

According to Lanovoi, maximum use of their own oil reserves in Ukraine should be one of the ways to avoid the dictates of the price of the Russian oil companies. We think we are - a strong animal, and we - as a mouse, who played - described the presidential adviser relations between Ukraine and oil traders.

ESTONIAN SCIENTISTS INVENTED THE CHEAPEST GASOLINE

ESTONIAN scientists invented the cheapest gasoline

Tallinn University of Technology scientists have invented a gasoline wholesale price of not more than 4-5 euros. The newspaper Eripyaev writes that the foundation of a new motor fuel is not oil, and alcohol, processing of which does not cost much.

The inventors were negotiating the new production of gasoline with a major local fuel company Alexela, but those negotiations failed, and now the production is discussed with other firms.

The newspaper notes that the task of the scientists could facilitate the availability of a patent for their invention. However, the patenting of gasoline alcohol interferes with the bureaucracy - all for a patent in Estonia is 4.5 years.

http://www.utro.ru

JARENERGO OF `` CONSIDERING IMPLEMENTATION OF INFORMATION SYSTEMS AS ONE ELEMENT NEW POLICY MANAGEMENT

Jarenergo of `` CONSIDERING implementation of information systems as one element NEW POLICY MANAGEMENT

JSC Jarenergo produces its own facilities for most of the consumption in the Yaroslavl region of electric and heat energy and transport it provides to consumers. Work on the implementation of corporate information systems were launched in May 2002. Since August, the system was pilot-tested in the enterprise, and in late October was transferred to production.

Work on the implementation carried out by Jarenergo together with experts of scientific and production company Kari.

In the opinion of accounting Jarenergo made work allowed to lift the restrictions that are imposed on the practice of accounting using the old software system, and the introduction of improved efficiency and reliability of financial information.

The next stage of development of the information system - automation functions of logistics. It is planned that as a result of power system will leverage over the entire horizontal expenses of the company. Planning for cost reduction will be possible not only by administrative methods, but also on the basis of relevant management information.

In addition, the improvement of corporate information systems have served one fundamental goal - to prepare the company#39;s management to work in market conditions. The company#39;s management evaluates the implementation of the project as one of the elements of a new management policy that is created with the reform of the energy company.

http://www.e-commerce.ru

NEW DESIGN TRANSISTORS

NEW DESIGN TRANSISTORS

In late November, Intel announced the development of a fundamentally new transistor design and development of new materials for their manufacture. This is the so-called #39;depleted transistors on a substrate#39; (depleted substrate transistor) and #39;highly insulating dielectric K-gate#39; (high k gate dielectric). The transistors of the new type will be called terahertz (Intel TeraHerz), since the number of switching operations per second exceeds a trillion.

The devices are placed on the ultrathin silicon substrate above the insulating layer. From the traditional layout of #39;silicon-on-insulator#39; this substrate differs primarily in that made of depleted material which allows to generate the maximum drive current when the transistor, which increases the speed of switching. When the transistor is switched off leakage current is reduced to a minimum - this helps to thin insulating layer.

Thus, the drain current in the transistor on a substrate depleted to 100 times lower than devices that are consolidated under the traditional scheme.

Another innovation is a low-resistance contacts, built into the upper portion of the semiconductor layer. Because of this transistor has an extremely small size, high speed and low power consumption.

Compared with the silica #39;highly insulating gate dielectric K#39; is more than 10 thousand times reduces the leakage current through the gate, as produced using a fundamentally new technology called atomic layer deposition #39;and allowing the material to build up layers. The thickness of this layer is not more than one molecule. In practice, this means an increase in productivity, reduction of heat, a significant extension of the life of the batteries of mobile devices. Intel plans to begin commercialization of the components of the new design already in 2005

http://kis.pcweek.ru