Gazprom Neft Strengthens Cooperation with Tatarstan in the Development of Oil Production Technologies
Gazprom Neft and the Republic of Tatarstan signed an agreement on cooperation in the development of enhanced oil recovery technologies and the implementation of oil and gas projects. The document was signed by the chairman of the board of the company Alexander Dyukov and the President of the Republic Rustam Minnikhanov. …
Gazprom and Irkutsk Oil Company to Elaborate Project for Lithium Production from Kovyktinskoye Field
Gazprom and Irkutsk Oil Company (INK) signed a Memorandum of Intent today at St. Petersburg International Gas Forum 2021. According to the document, the parties are interested in starting a joint project for the production and processing of formation brines (saline groundwaters) from the Kovyktinskoye field of Gazprom in order to obtain lithium compounds and other valuable components. The groundwaters of the Kovyktinskoye field …
LUKOIL Increases its Share in the Shah Deniz Project in the Caspian Sea
PJSC LUKOIL announces conclusion of an agreement on acquiring 15.5% interest in the Shah Deniz natural gas project in the Azerbaijan sector of the Caspian Sea from PETRONAS. The value of the transaction will amount to $2.25 billion, and the completion is subject to fulfilment of conditions precedent, including approval …
Nabors Announces World’s First Fully Automated Land Rig Has Successfully Drilled Its First Well
Nabors Industries Ltd., a leading provider of advanced technology for the global energy industry, today announced its PACE®-R801 – the world’s first fully automated land drilling rig – has reached total depth on its first well, a horizontal well for ExxonMobil in the Permian Basin. Combining Nabors proprietary Smart Suite of automated …
Gazprom Neft and Gazprom Burenie will Support the Creation of the First Russian Drilling Robot for Oil and Gas Wells
Gazprom Neft and Gazprom Burenie signed a memorandum of cooperation to create the first Russian robotic drilling complex. The digital drilling rig is planned to be used in the future for the construction of oil and gas wells in offshore and onshore fields. During the X St. Petersburg International Gas Forum, …
OPEC Daily Basket Price: Wednesday, 6 October 2021, Stood at $80.65 a Barrel
Vienna, Austria, 7 October 2021 – The price of OPEC basket of thirteen crudes stood at $80.65 a barrel on Wednesday, compared with $80.45 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), …
Shell: Third Quarter 2021 Update Note
The following is an update to the third quarter 2021 outlook. Impacts presented may vary from the actual results and are subject to finalisation of the third quarter 2021 results, published on October 28, 2021. Unless otherwise indicated, all outlook statements exclude identified items. Hurricane Ida in the US Gulf …
Eni Launches the New World Energy Review
Eni has released the 20th edition of its annual energy statistics report. In order to reflect and highlight the ongoing energy transition process, the World Oil, Gas and Renewables Review becomes World Energy Review, a single document that, by tracking the main changes in the energy sector, aims to provide …
Pouyanne Rejects Calls to Halt Upstream Investment
TotalEnergies CEO Patrick Pouyanne warned on Tuesday that prices would “rocket to the roof” by 2030 if the industry heeds calls to stop investing in new upstream oil and gas projects. Speaking at the Energy Intelligence Forum about the recent market turmoil and the accompanying run-up in prices, Pouyanne said …
LNG Binding Producers-Consumers Together in Abruptly Changing Energy Landscape
The unique flexibility of liquefied natural gas (LNG) to deliver natural gas to all corners of the world is saving the day for both producers and consumers in the face of shortages of other energy sources, Secretary General of the Gas Exporting Countries Forum (GECF) said today at the 10th …