GECF Analysis: Unprecedented High Gas Price: Security of Global Supply at Risk?
On Tuesday, 28 September, the price for gas in the European market broke the $1,000 per 1,000 cubic metres barrier for the first time ever. The price for October future at the TTF Hub reached $1,031 per 1,000 cubic metres. Several factors are perpetuating the unprecedented spike in the European …
LUKOIL: Enters Exploration Project in Caspian Sea
On 28 September 2021, PJSC LUKOIL signed an agreement on acquiring a 25% participating interest in the Shallow Water Absheron Peninsula (SWAP) exploration project in the Azerbaijan sector of the Caspian Sea from bp. The deal is expected to complete before the end of 2021, following its approval by the …
Gazprom Neft: Presented its Technological Developments to Partners in the Middle East
For the first time, Gazprom Neft presented its technologies and digital projects at the largest international industry event – the SPE Annual Technical Conference and Exhibition (ATCE) * in the United Arab Emirates. The company presented its own innovative developments that may be of interest to the Middle East market. …
OPEC Daily Basket Price: Tuesday, 28 September 2021, Stood at $78.37 a Barrel
Vienna, Austria, 29 September 2021 – The price of OPEC basket of thirteen crudes stood at $78.37 a barrel on Tuesday, compared with $77.73 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), …
Khanty-Mansi Autonomous Okrug Became the Base for Testing Unmanned Technologies for Gazprom Neft
Gazprom Neft has launched the first unmanned cargo system in the Russian oil and gas industry based on the GAZelle NEXT electric vehicle. The unmanned electric vehicle makes daily flights along the intra-field roads of the Yuzhno-Priobskoye field, along with other traffic participants. At the same time, tests of an unmanned …
Rosneft and Equinor Agree on Cooperation in Carbon Management
Rosneft and Equinor have signed a Cooperation Agreement on carbon management. This agreement is based on a longstanding partnership between two companies and confirms their commitment for joint development, testing and implementation of cutting-edge technology solutions on carbon management. The companies will assess their joint projects for the potential of …
OPEC Annual Statistical Bulletin 2021: World Oil Outlook
When last year’s World Oil Outlook (WOO) was launched in October 2020 much of the world was heading into a second wave of the COVID-19 pandemic. It would see countries enter into renewed lockdowns, with further humanitarian and economic repercussions. It was a period of continuing massive uncertainty, and for …
TCO Completes Turnaround Ahead Of Schedule Despite Pandemic
Tengizchevroil LLP (TCO) is pleased to announce that despite the challenges posed by COVID-19, the company has completed its maintenance turnaround at its oil facility in Tengiz, four days ahead of schedule, and production has safely resumed. The turnaround activities, which are aimed at maintaining the reliability and safety of …
OPEC Daily Basket Price: Monday, 27 September 2021, Stood at $77.73 a Barrel
Vienna, Austria, 28 September 2021 – The price of OPEC basket of thirteen crudes stood at $77.73 a barrel on Monday, compared with $76.21 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), …
LUKOIL: Executives Rated Among Top-1000 Russian Managers
LUKOIL representatives are listed among the best Russian executives in the 22nd annual TOP-1000 Russian Managers rating presented by the Russian Managers Association and Kommersant Publishing House. Vagit Alekperov, President of PJSC LUKOIL, made it into the main list of Russian business leaders. Alexander Matytsyn, First Vice President, entered the top three of finance …