OPEC Daily Basket Price: Tuesday, 22 February 2022, Stood at $97.94 a Barrel
Vienna, Austria, 23 February 2022 – The price of OPEC basket of thirteen crudes stood at $97.94 a barrel on Tuesday, compared with $94.30 the previous day, according to OPEC Secretariat calculations (view archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), …
OPEC Daily Basket Price: Monday, 21 February 2022, Stood at $94.28 a Barrel
Vienna, Austria, 22 February 2022 – The price of OPEC basket of thirteen crudes stood at $94.28 a barrel on Monday, compared with $92.79 the previous Friday, according to OPEC Secretariat calculations (view archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), …
Mitsui and Gazprom Neft Conclude Memorandum of Understanding on CCS and Decarbonization Projects in Russian Federation
Mitsui & Co., Ltd. and Gazprom Neft PJSC (“Gazprom Neft”) have reached agreement and concluded a Memorandum of Understanding (“MOU”) regarding the commencement of joint work with the aim of promoting carbon capture and storage (“CCS”) in the Russian Federation and other countries in which Mitsui and Gazprom Neft could …
OPEC Daily Basket Price: Friday, 18 February 2022, Stood at $92.79 a Barrel
Vienna, Austria, 21 February 2022 – The price of OPEC basket of thirteen crudes stood at $92.79 a barrel on Friday, compared with $94.03 the previous day, according to OPEC Secretariat calculations (view archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), …
MOL Group 2021 Results: Record High EBITDA Driven by Oil and Gas Prices
Today, MOL Group announced its financial results for Q4 and full year 2021. In a very volatile external environment, MOL Group generated USD 947mn Clean CCS EBITDA in Q4, bringing full-year Clean CCS EBITDA to an all-time high USD 3.531bn, above the updated guidance. Simplified free cash flow tripled since …
Bashneft: Replenishes Oil Reserves by 305% in 2021
ANK Bashneft (part of the Rosneft Oil Company) in 2021 increased its AB1C1 oil reserves by 43.2 million tons in 2021 through exploration, new acquisitions and reassessment of the reserves of producing fields, which made it possible to replenish annual production by 305% . Bashneft’s systematic work to build …
LUKOIL: Completes the Deal on Acquiring Interest in Shah-Deniz Project
PJSC LUKOIL announces completion of the transaction of buying a 9.99% interest in the Shah-Deniz gas project from PETRONAS. The transaction value is approximately $1.45 billion. Following the completion of the deal, LUKOIL increased its share in the project from 10% to 19.99%. Other parties to the project are bp …
Eni: Fourth Quarter and Full Year 2021 Results
Eni’s Board of Directors, chaired by Lucia Calvosa, yesterday approved the unaudited consolidated results for the full year and the fourth quarter of 2021. Eni CEO Claudio Descalzi said: “During 2021, we delivered excellent results and accelerated the pace of our transformation strategy, which leverages the integration of technologies, new …
RussNeft: Reserves Addition Amounted to 13.8 Million Tons in 2020-2021, According to the SPE-PRMS Classification
The increase of 2P reserves of PJSC “RussNeft” under SPE-PRMS amounted to 13.8 million tons in 2020-2021. Compensation of the production of the reserves of categories АВ1С1+В2С2 according to the Russian classification in the reporting year amounted to 100%. At the same time, the share of hard-to-recover reserves in the …
Tyumenneftegaz: Reduced the Well Drilling Cycle
The Tyumenneftegaz company, which is part of the oil and gas production unit of NK Rosneft, reduced the drilling cycle of production multilateral wells to 20.9 days in 2021. This is 11.6% less than a year earlier. The economic effect from the reduction in drilling time amounted to more than 7 million …