OPEC Daily Basket Price Stood at $35.54 a Barrel Wednesday, 11 March 2020
Vienna, Austria, 12 March 2020—The price of OPEC basket of fourteen crudes stood at $35.54 a barrel on Wednesday, compared with $35.71 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), …
OPEC Monthly Oil Market Report
The OPEC Reference Basket (ORB) value fell sharply in February, tumbling by about $10, or 15%, month-on-month (m-o-m), to settle at an average of $55.49/b, its lowest since September 2017. The ORB dropped further in March, to close at $34.71/b on 9 March. Similarly, ICE Brent fell in February by …
Caspian Sunrise PLC: February 2020 Production Numbers & an Operational Summary
The Board of Caspian Sunrise is pleased to update the market with February 2020 production numbers and an Operational Summary. February 2020 oil production figures The total number of barrels produced in February 2020, was 38,626 (January 2020, 44,169) at a daily rate of 1,332 bopd (January 2020, 1,425). The decline in daily production resulted principally …
Orenburgneft Received a Record Oil production from Carbonate Formations
Specialists of Orenburgneft JSC, a Rosneft subsidiary, commissioned the first horizontal wells in the carbonate formations of Perm deposits *. Thanks to the selection of the optimal method for developing subsoil with a complex geological structure, the starting production rate was 100 tons of oil per day. This is a record indicator …
OPEC Daily Basket Price Stood at $34.71 a Barrel Monday, 9 March 2020
Vienna, Austria, 10 March 2020—The price of OPEC basket of fourteen crudes stood at $34.71 a barrel on Monday, compared with $48.33 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), …
Oil Suffers Rout after Saudi Arabia Fires First Shot of Price War
Losing more than a quarter of their value, oil prices were set on Monday for their biggest daily rout since the first Gulf War, after Saudi Arabia cut its official prices in a market already reeling from the impact of the coronavirus on global demand. Saudi Arabia slashed its official …
PetroChina Suspends Some Gas Contracts as Coronavirus Hits Demand-Sources
PetroChina has suspended some natural gas imports, including on liquefied natural gas (LNG) shipments and on gas imported via pipelines, as a seasonal plunge in demand adds to the impact on consumption from the coronavirus outbreak. The company issued the force majeure notice to suppliers of piped gas and also …
Annual Oil Production Up 22% at Messoyakhaneftegaz
Messoyakhaneftegaz, the Gazprom Neft—Rosneft joint venture, delivered total production of more than 5.6 million tonnes of oil equivalent (mtoe) as at year-end 2019 — a 22-percent increase on 2018. Production at the Vostochno-Messoyakhskoye field (in the Gydan Peninsula, Yamalo-Nenets Autonomous Okrug) reached more than 16,000 tonnes of oil per day. …
Gazprom Neft Board of Directors appoints Pavel Kolobkov Deputy CEO for Federal Government Relations
The Gazprom Neft Board of Directors has appointed Pavel Kolobkov a member of the company’s Management Board, and Deputy CEO for Federal Government Relations. Mr Kolobkov will be responsible for managing the company’s engagement and liaison with Russian government ministries and agencies. Pavel Anatolyevich Kolovkov was born in Moscow on 22 September 1969. He graduated from the Russian State …
Rosneft Joins ‘Methane Guiding Principles’ Round Table
Eric Liron, Rosneft’s Vice President for In-House Services, joined the annual round-table meeting of members of the international initiative the Methane Guiding Principles. The meeting of executives from more than 20 signatory oil and gas companies was held in London. The Methane Guiding Principles is a voluntary, international multi-stakeholder partnership …