Eurasia Journal News

Underlying replacement cost loss for the quarter was $6.7 billion, compared with a profit of $2.8 billion for the same period a year earlier. The result was driven primarily by non-cash Upstream exploration write-offs – $6.5 billion after tax – principally resulting from a review of BP’s long-term strategic plans …

Since the beginning of development, TATNEFT has produced 10 million tons of extra-viscous oil (HVO).  TATNEFT began production of EHV in 2006, for the first time in Russia introducing its own development technologies based on steam gravity drainage by twin horizontal wells. Subsequently, a transition was made to a more efficient …

With weight and corrosion being critical and continuous drivers for both greenfield and brownfield projects offshore, our Bondstrand™ composite systems provide the trusted solution to reduce total cost of ownership and operational expense. The Azeri—Chirag–Gunashli (ACG) field in the Caspian Sea celebrated its 25th anniversary in 2019, since being awarded …

PAO NOVATEK announced that NOVATEK-Tarkosaleneftegas, a wholly owned subsidiary, commenced pilot production from gas condensate bearing layers of the North-Russkoye and East-Tazovskoye fields with cumulative total annual production capacity of 7.7 billion cubic meters of natural gas and 1 million tons of gas condensate. “Our production growth in the area …

Gazprom Neft has begun its full-scale development of a major hydrocarbon cluster (with total potential resources estimated at 650 million tonnes of oil) covering license blocks in the Khanty-Mansi Autonomous Okrug and the Tyumen Oblast. One million tonnes of liquid hydrocarbons have been produced at the flagship asset on this project — the Alexander Zhagrin field, Yugra — in its first …

Messoyakhaneftegaz, a Gazprom Neft—Rosneft joint venture, has commissioned an underground gas storage facility at its Messoyakhsky license block. This is the first time in Russia’s domestic oil industry that associated petroleum gas (APG) at one field has been utilised at undeveloped gas-bearing strata at another. Implementing this unique project will allow Messoyakhaneftegaz to address its target of taking APG utilisation …

Francesco Gattei has taken up the role of Chief Financial Officer at Eni. Gattei is tasked with supporting the CEO in developing and implementing Eni’s economic and financial strategy during this important phase of accelerating the Company’s decarbonization plan. Francesco Gattei’s biography is available on Eni’s website via the following …

Vienna, Austria, 3 August 2020–The price of OPEC basket of thirteen crudes stood at $43.02 a barrel on Friday, compared with $42.99 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), …

Karachaganak Petroleum Operating B.V. (KPO) announced its performance results for the first half-year period. Over this period KPO produced more than 75 million barrels of oil equivalent of stable and unstable liquid hydrocarbons, export raw gas and sweet fuel gas. Moreover, 5 billion cubic metres of raw gas was re-injected …

Vienna, Austria, 27 July 2020–The price of OPEC basket of thirteen crudes stood at $43.38 a barrel on Friday, compared with $44.62 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), …