Eurasia Journal News

In 2020, Gazprom Neft reduced the cost of producing unconventional oil by 20% compared to 2019, to RUB 13,000 per ton. By the end of 2021, it is planned to reach the level of 8.5 thousand rubles per ton, which will allow the start of industrial development of the Bazhenov formation at the …

As part of its effort to minimize impact on water bodies of the Komi Republic, LUKOIL commissioned new water treatment facilities and commenced closed loop steam generation at its oil mines in Yarega, Pervomaisky and Nizhny Domanik settlements. Earlier on, the company had already installed a water reuse system at …

Royal Dutch Shell plc, through its affiliate Shell Canada Energy (“Shell”), has reached an agreement with publicly listed Canadian energy company Crescent Point Energy Corp. (“Crescent Point”) to sell its Duvernay shale light oil position in Alberta, Canada for a total consideration of $707 million (C$900 million). The transaction has …

Gazprom Neft (the “Company”) today has published its IFRS consolidated financial statements for the 12 months and fourth quarter (Q4) ended 31 December 2020 (FY 2020). The Company recorded consistent net-profit growth in Q2—Q4 2020, the challenging market environment notwithstanding Adjusted EBITDA* was ₽485.2 billion in 2020 Net profit has been positive since Q2, reaching ₽81.5 billion in Q4 2020, a three-fold increase on Q3 …

In 2020, the total reserves of Gazprom Neft (taking into account the share in joint ventures) of the proved and probable categories increased to 3.9 billion toe. The provision of the company’s production with hydrocarbons has reached 22 years. Proved reserves (proved, 1P) of Gazprom Neft hydrocarbons according to international PRMS …

ENGIE and Equinor announce their partnership to develop joint low-carbon hydrogen activities. The partners will investigate the production and market potential for hydrogen from natural gas whereby the CO2 will be captured and stored permanently offshore. ENGIE and Equinor signed a memorandum of understanding to investigate the development low-carbon hydrogen value …

PAO NOVATEK today released its audited consolidated financial statements for the year ended 31 December 2020 prepared in accordance with International Financial Reporting Standards (“IFRS”). IFRS Financial Highlights (in millions of Russian roubles except as stated)   FY 2020  FY 2019  Oil and gas sales 699,750 852,232 Other revenues 12,062 …

PetroNeft an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licenses 61 and 67, is pleased to provide a financing update: Highlights – New $2.9m convertible loan facility providing greater headroom to develop value. PetroNeft is pleased to …

Vienna, Austria, 17 February 2021–The price of OPEC basket of thirteen crudes stood at $62.48 a barrel on Tuesday, compared with $62.60 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), …

Slavneft-Megionneftegaz has developed and implemented an innovative method for the industry to perform operations to improve well productivity. The technology opens up new perspectives for the efficient development of hard-to-recover reserves. The innovative method, called iFrac, significantly reduces the cost of performing repeated multi-stage hydraulic fracturing (MSHF) ** in horizontal …