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Russia annuls Sakhalin II Contract with PwC.

MOSCOW, April 12 (RIA Novosti) - Russia has annulled a contract with Pricewaterhouse-Coopers, auditor of the Sakhalin II hydrocarbon project in the Far East for 10 years, and selected a new auditor, the Industry and Energy Ministry said Thursday.

The ministry said the company’s assessment of spending under the production-sharing agreement was unsatisfactory and Russian authorities had selected a Russian auditor, FinExpertiza, at a tender. FinExpertiza has completed the audit, the ministry said.

PwC is currently in the focus of Russian tax authorities, after a Moscow court annulled March 20 its contract with bankrupt oil company Yukos, which it audited in 2002-2004, amid accusations of covering up the company’s tax shelter schemes and drawing up two different audit reports over three years. The court also ordered PwC to pay the state $480,000.

PwC said it would appeal against a court ruling invalidating the audit contract, which it said was unsubstantiated.

The U.K.-based company has won a tender to audit Russian natural gas monopoly Gazprom, its client since 1995, the energy giant said Monday.

The vast oil and gas project off Russia’s Pacific coast formerly led by Shell was subjected to months of intense pressure last year from Russian authorities over environmental damage accusations and demands by foreign investors to double spending.

In December 2006, Gazprom acquired 50% plus one share in Sakhalin II for $7.45 billion.

Talking Point

Compare the economic activities of Transneft company in 2002 and 2003.

Список литературы

  1. Организация, планирование и управление предприятиями нефтяной и газовой промышленности: учебник для вузов / А.Д. Бренц, В.Е. Тищенко, Ю.И. Малышев и др.; Под ред. А.Д. Бренца и В.Е. Тищенко – 2-е издание перер. и доп. – М.: Недра, 1986.

  2. Экономика нефтяной и газовой промышленности. Учебник для вузов / Ф.Ф. Дунаев, В.И. Егоров и др. – М.: Недра, 1983.

  3. «Севергазпром» - истоки, перспективы, сотрудничество», А.А. Захаров, концепт, №3, 2004.

  4. Материалы Интернет.

  5. Политика поддержки конкуренции: антимонопольное регулирование и реструктуризация в отраслях естественных монополий: Учебное пособие / Под ред. С.Б. Авдашевой. – М.: Издательский дом «Новый учебник», 2004.

  6. Economics/ S.F. Goodman. – Macmillan Press Ltd., 1998.

  7. Transnett Annual Report, 2003.

  8. “Different fiscal systems complicate reserve values” Daniel Johnston, Oil and Gas Journal, May 29, 1995.

  9. “Oil and Gas in Russia. Development and financing of large projects”. B.A. Yaskevich, Oil and Gas Journal, November, 2004.

  10. “OSHA to revamp approach to regulation”. P. Crow, Oil and Gas Journal, May, 1998.

  11. “Opportunities await U.S. independents willing to change”, James C. Henry, Oil and Gas Journal, November 4, 1996.

Оглавление

Part I Fundamentals of Economics 3

Unit 1 Introduction to Economics 3

Text 1 What does economics study? 3

Text 2 The economy and economic systems 7

Text 3 Mixed capitalism and communism 11

Text 4 Economic policy: efficiency, equity, growth, market equilibrium 16

Text 5 Russia and the world economic order 22

Unit 2 Who are the owners? 26

Text 1 Types of proprietorship 26

Text 2 Joint stock companies 30

Text 3 Types of partnerships 35

Text 4 Monopoly and barriers 39

Unit 3 Money 43

Text 1 The functions of money 43

Text 2 The attributes of money 48

Text 3 The evolution of bank deposit money 52

Part II The economy of oil and gas industry 57

Unit 4 Present-day state of oil and gas industry 57

Text 1 Oil and gas in Russia. Development and financing of large projects 57

Text 2 Opportunities await U.S. Independents willing to change 59

Unit 5 Who are the main players? 64

Text 1 Total 65

Text 2 Company structure 73

Text 3 Committing to high standards of corporate governance 77

Unit 6 Labour force: training, wages, safety 84

Text 1 The labour force, its origin and supply 84

Text 2 Personnel 87

Text 3 Labour and salary 90

Text 4 OSHA to revamp approach to regulation 93

Unit 7 Taxation and audit 97

Text 1 Taxation 97

Text 2 Auditors and their reports 104

Список литературы 109

Оглавление 110