Eurasia Journal News

Rosneft Oil Company, the Ministry of Finance of Russia and the Ministry of Natural Resources and the Environment of Russia have signed an agreement on investment incentives for oil production at the Priobskoye field in the form of an annual mineral extraction tax (MET) deduction of up to 46 billion …

Introduction The board is pleased to provide an update covering commercial / financial / operational and regulatory matters. Commercial & financial update In our previous announcement we identified three principal factors holding back the company’s short term progress: ·    Kazakh domestic oil price ·    Assessed BNG historic costs ·    Lack of deep well …

Vienna, Austria, 5 February 2021–The price of OPEC basket of thirteen crudes stood at $58.25 a barrel on Thursday, compared with $57.72 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 …

Rosneft Oil Company and bp have signed a Strategic Collaboration Agreement focused on ‎supporting carbon management and sustainability activities of both companies. The agreement ‎builds on years of partnership between the two companies and formalises key elements of their ‎collaboration on sustainability and work to identify carbon reduction activities and …

The 26th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Wednesday, 3 February 2021, under the Chairmanship of HRH Prince Abdul Aziz bin Salman, Saudi Arabia’s Minister of Energy, and Co-Chair HE Alexander Novak, Deputy Prime Minister of the Russian Federation. The Committee emphasized the …

Kazakhstan continues to demonstrate its full support for the decisions taken at OPEC and non-OPEC Ministerial Meetings (ONOMM), most recently the 13th ONOMM on 4/5 January 2021. Over past months, Kazakhstan has taken steps to not only realize full conformity to its production adjustment, but also to compensate for overproduced volumes.  Its …

At the Samotlor field, Rosneft is successfully implementing innovative methods of integrated mathematical modeling for the integrated optimization of oil production at mature assets. The unique technology, tested at 515 wells of Samotlor, made it possible to increase oil production by 1% in 13 months. Digitalization in all areas of the …

PAO NOVATEK announced today that it has formally joined the Arctic Economic Council. The Arctic Economic Council (AEC) is an international business forum established in 2014 at the initiative of the Arctic Council in order to facilitate business-to-business activities and promote responsible economic development of the Arctic region. The AEC’s …

Vienna, Austria, 3 February 2021–The price of OPEC basket of thirteen crudes stood at $56.80 a barrel on Tuesday, compared with $55.13 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 …

Shell (NYSE:RDS), C3 AI (NYSE:AI), Baker Hughes (NYSE:BKR), and Microsoft (NASDAQ:MSFT) today announced the launch of the Open AI Energy Initiative™ (OAI), a first-of-its-kind open ecosystem of artificial intelligence (AI)-based solutions for the energy and process industries. The OAI provides a framework for energy operators, service providers, equipment providers, and independent software vendors for energy services …