A Balanced Oil Market Remains Our Focus – JMMC
Following its 14th Meeting, which took place on 19 May 2019, in Jeddah, the Kingdom of Saudi Arabia, the Joint Ministerial Monitoring Committee (JMMC) has reaffirmed its commitment to achieving a balanced market and working towards oil market stability on a sustainable basis with solid fundamentals. The JMMC expressed its satisfaction regarding the critical …
Volga Gas: Operational Update
Volga Gas plc, the oil and gas exploration and production group operating in the Volga Region of Russia, is holding its Annual General Meeting today and is pleased to provide the following update on its activities and operations: Highlights · Between 1 January and 30 April 2019, Group production averaged 5,859 …
NC KazMunayGas and BP signed Memorandum of Understanding
On May 17, 2019, NC KazMunayGas JSC and BP signed a Memorandum of Understanding, under which the companies agreed to examine the existing technical data, existing assets of KMG and third parties. The companies also intend to consider the possibility of further cooperation. source
OPEC Daily Basket Price: Thursday, 16 May 2019, Stood at $72.61 a Barrel
Vienna, Austria, 17 May 2019–The price of OPEC basket of fourteen crudes stood at $72.61 a barrel on Thursday, compared with $71.26 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), …
LUKOIL Drills Record Breaking Wells at D41 in the Baltic Sea
LUKOIL commenced commercial operation of two wells at D41 offshore field in the Baltic Sea. Construction of one of the wells finished on February 6, 2019, the other was completed on May 7, 2019. The field is operated from an onshore site with two newly drilled horizontal wells, one of …
Embamunaigas JSC has Changed Chairman of the Board of Directors
By the decision of the Board of Directors of Embamunaigas JSC (Minutes No. 14 of 04.05.2019), the powers of the Chairman of the Board of Directors of the EMG Iskaziyev Kurmangazy Oryngaziyevich were terminated early. Member of the Board of Directors of EMG Marabayev Zhakyp Nasibkalievich – Deputy Chairman of the …
Rosneft: Q1 Financial Results 2019 – NET Income Up 61.7% yoy
EBITDA growth of more than 1.4 times YoY to RUB 548 bln with the margin improvement to 26% Strong control over the costs: operating expenses fell by 10% QoQ Free cash flow growth of more than 1.4 times to RUB 197 bln compared to the same period of 2018 Strategic …
Rosneft: Q1 Operating Results 2019 – Production Up 3.4% yoy
Upstream Hydrocarbon production in Q1 2019 amounted to 5.90 mmboed (71.7 mmtoe), exceeding Q1 2018 level by 3.4%. Average daily hydrocarbon production decreased by 0.6% QoQ due to the Company’s compliance with its obligations under the OPEC+ Agreement. The reporting quarter liquids production amounted to 4.74 mmbpd (57.6 mmt), exceeding …
Gazprom Neft: Produces its Two-Millionth Tonne of Oil in Kurdistan
Gazprom Neft subsidiary Gazprom Neft Middle East B.V. has produced its two-millionth tonne of oil since starting commercial production at its Sarqala field in the Kurdistan Region of Iraq. First oil was obtained at the Garmian block, which includes the Sarqala field, in 2011. Commercial oil shipments commenced in 2015, with the commissioning of the Sarqala-1 well. The second …
OPEC Daily Basket Price: Wednesday, 15 May 2019, Stood at $71.26 a Barrel
Vienna, Austria, 16 May 2019–The price of OPEC basket of fourteen crudes stood at $71.26 a barrel on Wednesday, compared with $70.66 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), …