Eurasia Journal News

ConocoPhillips announced today that it is taking further actions to respond to the oil market downturn. These follow initial actions announced on March 18. “In March we exercised $2.2 billion of flexibility via reductions in both our planned 2020 capital spending and share repurchases,” said Ryan Lance, chairman and chief …

OPEC and allies led by Russia agreed on Sunday to a record cut in output to prop up oil prices amid the coronavirus pandemic in an unprecedented deal with fellow oil nations, including the United States, that could curb global oil supply by 20%. Measures to slow the spread of …

Days after OPEC+ reached a record deal to cut oil output in an attempt to shore up a market reeling from the coronavirus crisis, their calculations are in question. The Organization of the Petroleum Exporting Countries, along with Russia and other producing nations – known as OPEC+ – has partnered …

Vienna, Austria, 16 April 2020—The price of OPEC basket of thirteen crudes stood at $17.51 a barrel on Wednesday, compared with $19.70 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), …

Vienna, Austria, 15 April 2020—The price of OPEC basket of thirteen crudes stood at $19.70 a barrel on Tuesday, compared with $21.18 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), …

The Salym Petroleum Development portfolio of assets (a joint venture between Gazprom Neft and Shell) includes a new license for the right to geological exploration, exploration and production of traditional hydrocarbon reserves at the Salymsky-2 site in the Khanty-Mansi Autonomous Area. According to the agreement of partners, during the transaction …

LUKOIL Uzbekistan Operating Company took a whole range of measures for the safety of all its employees, and also transferred funds to charity organizations as part of the fight against COVID-19. Coronavirus shocked the world, becoming a key theme of all the news feeds. Viral infection looms the number 1 …

Dear colleagues, partners and customers! Dear friends! We are all going through a difficult period. Due to the spread of the coronavirus COVID-19, the usual course of things around the world has been disrupted. Residents of many countries, the healthcare system and the global economy as a whole are going through a …

The following amendment has been made to the “PRODUCTION REPORT FOR MARCH 2020” announcement released on 2 April 2020 at 07:00 under RNS No 4912I. The average realised prices for the three month period January to March 2020 and the gas price average for March 2020 were incorrectly stated and …

Gazprom Neft has begun full-scale COVID-19 preventative testing of employees involved in ensuring the continuous operation of the company’s oil production and refining facilities, at every location in which the company operates. The first stage of this programme will involve testing 50% of the company’s 80,000 personnel, with cutting-edge tests allowing infected employees — albeit showing no external symptoms — to be identified. In line …