OPEC Daily Basket Price: Monday, 21 October 2019, Stood at $59.50 a Barrel
Vienna, Austria, 22 October 2019–The price of OPEC basket of fourteen crudes stood at $59.50 a barrel on Monday, compared with $60.06 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 …
Third High-level Meeting of the OPEC-China Energy Dialogue
The Third High-level Meeting of the OPEC-China Energy Dialogue was held on in Vienna, Austria on 21 October 2019. The Meeting was co-chaired by HE Zhang Jianhua, Administrator of the National Energy Administration, People’s Republic of China and OPEC Secretary General, HE Mohammad Sanusi Barkindo. HE Dr. Sun Xiansheng, Secretary …
Gazprom Neft and ADNOC Conclude a Framework Agreement on Strategic Cooperation in Oil and Gas
Gazprom Neft and the Abu Dhabi National Oil Company (ADNOC) have entered into a Framework Agreement on Strategic Cooperation. The companies will explore opportunities for implementing joint projects in the upstream and downstream sectors, as well as in information technologies, artificial intelligence, and other areas. Vladislav Baryshnikov, Deputy CEO, International Business Development and a member of …
Russia Says it Missed Oil-Deal Target Due to Rise in Gas Condensate Output
MOSCOW (Reuters) – Russia produced more oil in September than envisaged by a global deal due to an increase in gas condensate output as the country prepared for winter, local news agencies reported on Sunday. Russian oil output C-RU-OUT edged down to 11.25 million barrels per day (bpd) last month …
Russian Oil and Gas Pioneer Builds More Secure Platform for Future Growth
As part of its efforts to harness the rich oil and gas reserves of Western Russia, Volga Gas deployed Microsoft Dynamics 365 and Azure cloud services to build a single information space with flexible analytics. Thanks to this more secure Microsoft-powered platform, Volga Gas looks forward to continued organizational growth. …
Rosneft: The Economic Effect of the Introduction of a Digital Planning Complex in the Upstream Area Amounted to More Than 2 Billion Rubles
Rosneft gained economic benefits from the introduction of a digital complex for planning, accounting and monitoring the effectiveness of the program of geological and technical measures (geological and technical measures) in the amount of more than 2 billion rubles. The information system “GTM-DB” is a corporate complex that allows to …
Rosneft Transferred More Than 120 Licenses for a Unique Russian Digital Fracturing Modeling Complex
Rosneft transferred to twenty-five oilfield services and oil and gas companies over 30 commercial and more than 40 test licenses for the right to use RN-GRID, the first industrial hydraulic fracturing simulator (hydraulic fracturing) in Eurasia. The Company also transferred over 50 academic licenses to four leading partner universities for the …
Rosneft Has Installed Monitoring Stations for Drilling Data with Artificial Intelligence Elements in Heavy Drilling Rigs
Rosneft has installed monitoring stations for drilling data with artificial intelligence in heavy drilling rigs. This was announced by Eric Liron, First Vice President of PJSC NK Rosneft, in his speech at the Vth Conference of the Upstream Technologies Company. “Over the past 5 years, the volume of drilling at the …
OPEC Daily Basket Price: Thursday, 17 October 2019, Stood at $59.54 a Barrel
Vienna, Austria, 18 October 2019–The price of OPEC basket of fourteen crudes stood at $59.54 a barrel on Thursday, compared with $59.28 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), …
Syria Invasion Forces Russia To Halt Oil Projects
Russian oil giant Rosneft has temporarily suspended works at one block in Iraq’s semi-autonomous region of Kurdistan due to security concerns because of the blocks’ proximity to the Syrian border, Rosneft’s First Vice President, Eric Maurice Liron, said on Thursday. Rosneft has signed several agreements with Kurdistan dating back from 2017 and 2018 to …