Russia Increased Gas Production in January-April by 8.8%
In particular, gas production in April amounted to 46 billion cubic meters. In January-April 2024, Russia increased natural gas production by 8.8% compared to the same period in 2023, to 210 billion cubic meters. This follows from Rosstat data. In particular, gas production in April amounted to 46 billion cubic …
Taas-Yuryakh Neftegazodobycha Will Additionally Receive Up to 5 Million Tons of Oil Due to the Implementation of Unique Technologies
Specialists from Taas-Yuryakh Neftegazodobycha (part of the oil and gas production unit of NK Rosneft) and the corporate research institute in Tyumen have begun to implement unique technological solutions that will allow an additional extraction of up to 5 million tons over 20 years from oil rims at the Srednebotuobinskoye …
Conoco to Buy Marathon Oil at $22.5 Billion Enterprise Value Including Debt
American oil company ConocoPhillips has agreed to buy Marathon Oil at an enterprise value (EV) of $22.5 billion, the companies said in a press release. The EV includes net debt of $5.4 billion. The settlement will be made exclusively in shares. Marathon shareholders will receive 0.255 Conoco shares for each …
Hess Oil and Gas Shareholders Approve Its Sale to Chevron for $53 Billion
Shareholders of the American oil and gas company Hess Corp. have approved its sale to Chevron Corp. for $53 billion, Hess said in a press release. The final results of the vote will be disclosed later. Chevron still has two hurdles to overcome before the deal can be closed: passing …
The President of Guyana Invited Chevron to Enter into a $150 Billion Oil Production Project
Guyanese President Irfaan Ali would welcome the entry of American Chevron Corp. into the capital of the operator of the Stabroek Block oil production project off the coast of the state. Ali told the Financial Times. Stabroek Block is one of the most “cash” deposits discovered in recent decades, the …
Igor Sechin Appointed General Director of the Largest Subsidiary of Rosneft in Khanty-Mansi Autonomous Okrug
The RN-Yuganskneftegaz company, the largest subsidiary of Rosneft in the Khanty-Mansi Autonomous Okrug, was headed by a new director. An agency source familiar with the oil industry said that Alexander Shimansky has been appointed general director of the enterprise. Before him, Yegor Filippov performed the duties of manager. “Alexander Shimansky …
New Software Makes It Easier for LUKOIL to Digitize the Komi and Nenets Autonomous Okrug Fields
The Intellectual Field software creates a complete picture of the fields and allows you to quickly obtain highly accurate forecasts. LUKOIL-PERM continues to implement the Intelligent Field project. Digitalization of production processes will facilitate multivariate calculations of well operation. It will become easier for oilmen to determine the most rational …
BP Suspends Negotiations with Venezuela to Develop Manakin-Cocuina Gas Field
BP has suspended negotiations with Venezuela on the development of a gas project on the maritime border with Trinidad and Tobago. This was reported by Reuters with reference to a company representative. BP’s negotiations with Venezuela and Trinidad to develop the Manakin-Cocuina field in the Caribbean, which is common to …
Turkey’s Gas Production Volumes in the Black Sea Reached 5 Million Cubic Meters Per Day
According to the head of the Ministry of Energy Alparslan Bayraktar, by 2028 production volumes are planned to increase fivefold. Turkey’s natural gas production volumes at the Sakarya field in the Black Sea have reached 5 million cubic meters per day. This was stated by the head of the Turkish …
ExxonMobil Will Explore Opportunities to Develop Hydrocarbon Resources in Algeria’s Ahnet and Gourara Basins
Algeria’s national oil and gas company Sonatrach and the American ExxonMobil have signed a Memorandum of Understanding (MoU). This was reported by the Sonatrach press service. The MoU was signed in the presence of Sonatrach CEO R. Hachichi and ExxonMobil Vice President for Exploration and New Opportunities D. Ardill. It …