Volga Gas: Delay in Publication of 2019 Annual Report
Volga Gas plc, the oil and gas exploration and production group operating in the Volga Region of Russia, announces that there will be a delay in the publication of the Company’s audited financial results for the year ended 31 December 2019 (“Final Results”). The delay is occasioned at the request …
RussNeft Has Fulfilled Its Obligations to Reduce Oil Production
By the middle of May, PJSC “RussNeft” fulfilled its obligations to reduce oil production within the frames of the agreement between the Russian Federation, OPEC member-states and non-OPEC countries, which acceded to this agreement. The operational plan of production reduction provided for changes in its structure and shutdown of wells …
Google Plans to Stop Making A.I. Tools for Oil and Gas Firms
Google has pledged to stop building customized artificial intelligence (AI) tools that help oil and gas firms to extract fossil fuels worldwide. The story was reported by Medium’s tech publication, OneZero, following an interview with The Cube that was published on YouTube. A Greenpeace report on Tuesday highlighted how Google, Microsoft, and Amazon use AI and warehouse servers to …
Gazprom Neft Publishes IFRS Financial Statements for Q1 2020
The Company has maintained its financial stability amidst the unprecedented COVID-19 pandemic and decline in oil demand and oil prices; Adjusted Q1 2020 EBITDA stands at RUB99 billion; Significant free cash flow, standing at RUB22 billion; Net debt to EBITDA ratio as at end Q1 2019 standing at 0.88x. Gazprom Neft (the “Company’) today announces its consolidated IFRS financial results for the …
OPEC Daily Basket Price Stood at $29.03 a Barrel Wednesday, 27 May 2020
Vienna, Austria, 28 May 2020–The price of OPEC basket of thirteen crudes stood at $29.03 a barrel on Wednesday, compared with $29.75 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), …
NOVATEK-Murmansk Signed Agreement with Far East Development Corporation
PAO NOVATEK announced today that OOO NOVATEK-Murmansk, a wholly owned subsidiary, and the Far East Development Corporation signed an Agreement on operating in the territory of the Advanced Special Economic Zone (ASEZ) “Capital of the Arctic” (hereinafter “the Agreement”). According to the Agreement, OOO NOVATEK-Murmansk will obtain resident status at …
OPEC Daily Basket Price: Tuesday, 26 May 2020, Stood at $29.75 a Barrel
Vienna, Austria, 27 May 2020–The price of OPEC basket of thirteen crudes stood at $29.75 a barrel on Tuesday, compared with $28.06 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), Girassol (Angola), Djeno (Congo), …
RDCR 2020 – The Official “Back 2 Business” Conference for the Russian Drilling & Production Sector
The global economy is currently facing an unprecedented challenge, and the hydrocarbon industry is reeling from low oil prices. Due to the COVID-19 pandemic, industry events around the world are being cancelled or postponed until 2021. All of us have had to adapt to new ways of working and gathering …
Spain’s Repsol Pulls Out of Planned Arctic JV in Russia
Spain’s Repsol has pulled out of a planned joint venture to develop two Arctic oil blocks with Russia’s Gazprom Neft and Royal Dutch Shell, a spokesman at Repsol said on Friday. Gazprom Neft, the oil arm of Russian gas giant Gazprom, Repsol and Shell signed a memorandum of understanding last …
LUKOIL Installs Accommodation Platform Jacket at V.I. Grayfer Field
LUKOIL completed installation of a jacket for an accommodation platform topside at the V.I. Grayfer field in the Caspian Sea. The offshore operations involved 110 workers and nine vessels. The facility was brought to the offshore installation site via the Volga-Caspian Shipping Canal. After the floatover and grounding, the substructures …