OPEC Daily Basket Price: Tuesday, 1 June 2021, Stood at $69.01 a Barrel
Vienna, Austria, 2 June 2021–The price of OPEC basket of thirteen crudes stood at $69.01 a barrel on Tuesday, compared with $68.53 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), Girassol (Angola), Djeno (Congo), …
17th OPEC and Non-OPEC Ministerial Meeting concludes
The 17th OPEC and non-OPEC Ministerial Meeting (ONOMM), held via videoconference, concluded on Tuesday, 1 June 2021. The Meeting noted the ongoing strengthening of market fundamentals, with oil demand showing clear signs of improvement and OECD stocks falling as the economic recovery continued in most parts of the world as …
OPEC, Russia Seen Gaining more Power with Shell Dutch Ruling
Climate activists who scored big against Western majors last week had some unlikely cheerleaders in the oil capitals of Saudi Arabia, Abu Dhabi and Russia. Defeats in the courtroom and boardroom mean Royal Dutch Shell (RDSa.L), ExxonMobil (XOM.N) and Chevron (CVX.N) are all under pressure to cut carbon emissions faster. That’s good news for the …
Gazprom Neft and Repsol’s Cutting-Edge Technology to Help Develop One of Khanty Mansi Autonomous Okrug-Yugra’s most Challenging Fields
Eurotek-Yugra, a joint venture of Gazprom Neft and Repsol, has drilled a multilateral well with a total length of over 9.4 km at the Ervier field in the Khanty-Mansi Autonomous Okrug-Yugra. The initial flow rate exceeded 120 tonnes of oil per day — six times higher than the productivity of previously built wells in that area. The new well has become one …
OPEC Daily Basket Price: Monday, 31 May 2021, Stood at $68.53 a Barrel
Vienna, Austria, 1 June 2021 – The price of OPEC basket of thirteen crudes stood at $68.53 a barrel on Monday, compared with $68.20 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), …
Shell Kazakhstan Announces New Country Chair
Shell Kazakhstan informs that German Burmeister, currently Shell Vice-President in Brazil, will take over as the Country Chair of Shell Kazakhstan effective from 1st August 2021, replacing Olivier Lazare who has been appointed as Managing Director of North Caspian Operating Company N.V. German Burmeister brings over 30 years of oil …
RN-Purneftegaz Uses Unmanned Aerial Vehicles to Monitor the Level of Greenhouse Gases
The RN-Purneftegaz company, which is part of the oil and gas production complex of NK Rosneft, began using unmanned aerial vehicles (UAVs) to control the level of greenhouse gases at the facilities for the preparation, processing, and transportation of oil and gas. The monitoring is carried out using a remote laser …
OPEC Daily Basket Price Stood at $68.20 a Barrel Friday, 28 May 2021
Vienna, Austria, 31 May 2021 – The price of OPEC basket of thirteen crudes stood at $68.20 a barrel on Friday, compared with $67.32 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), …
Total is Transforming and Becoming TotalEnergies
At the Ordinary and Extraordinary Shareholders’ Meeting, shareholders approved today, almost unanimously, the resolution to change the company’s name from Total to TotalEnergies, thereby anchoring its strategic transformation into a broad energy company in its identity. In tandem with this name change, TotalEnergies is adopting a new visual identity. “Energy …
Wintershall Dea: Transfers Wolgodeminoil Stake to Ritek
Wolgodeminoil, the joint venture between Wintershall Dea and RITEK, a subsidiary of the Russian oil and gas producer LUKOIL, is to become wholly owned by RITEK. On 27 May 2021, Wintershall Dea transferred its 50 per cent stake to its long-standing partner in southern Russia by mutual agreement. The transfer has …