Eurasia Journal News

An agreement to set up a joint venture for construction and operation of a network of CNG stations in Russia on the basis of Vankor UTT was signed by Rosneft and Beijing Gas Group Company Limited (hereinafter, Beijing Gas) during the first Russian-Chinese Energy Business Forum. Under the agreement, Beijing …

Rosneft and China National Chemical Corporation (ChemChina) signed an oil supply contract during the first Russian-Chinese Energy Business Forum. The contract provides for supplies of ESPO crude in the amount of up to 2.4 million tons through the Kozmino port for a year. Conclusion of the contract will lead to …

The Board of Caspian Sunrise are pleased to provide the following update at its BNG Contract Area: Deep Wells – new wells A8 Caspian Sunrise is pleased to announce the spudding of a new deep well A8 within the Airshagyl field of the BNG contract area. It has reached a …

PJSC LUKOIL today released its condensed interim consolidated financial statements as of and for the three and nine months ended 30 September 2018, prepared in accordance with International Financial Reporting Standards (IFRS). Financial highlights 3Q 2018 2Q 2018   9М 2018 9М 2017 (RUB bln) 2,305.9 2,056.1 Sales 5,992.7 4,274.3 321.8 295.2 EBITDA 836.5 …

Gazpromneft-Orenburg (a subsidiary of Gazprom Neft) has commissioned the first high-tech well built using multi-storey drilling technology. This new approach makes it possible to increase initial production by more than 40 percent, as well as increasing surface efficiency (the “sweep ratio”) and development drilling efficiency. Constructed at the Vostochny licence block at the Orenburg oil and gas-condensate field (VU ONGKM), the …

As the company notes, the Board of Directors of Russneft approved the company’s business plan for 2019. “The target production level approved in the business plan will be 7.355 million tons (excluding oil production in Azerbaijan),” the report said. Financing of capital investments is planned at the level of 28 …

Gazprom Neft’s Board of Directors has reviewed and confirmed the company’s development strategy to 2030. The new document continues current strategy to 2025, which envisages achieving production at 100 million tonnes of oil equivalent (mtoe) per year while, concurrently, maintaining the proved (1P) reserves-to-production ratio of at least 15 years and ensuring a 100-percentreserves replacement every year. The strategy …

Gazprom Neft’s Board of Directors has reviewed information on further improving the efficiency of the oil business’s operational processes through the use of innovative digital technologies. Digital transformation is a priority area of focus in Gazprom Neft’s activities, creating new opportunities for improving economic efficiency in the face of increasing business complexity and ever decreasing potential for process improvements through …

Gazprom Neft’s Board of Directors has reviewed information on implementing the company’s resource-base development strategy. The current document, approved by the Board of Directors in 2016 and updated in November 2017, clarifies the company’s strategy on resource-base development to ensure the company achieves its objectives in line with current industry and global trends — the key priority being to ensure the …

PAO NOVATEK (“NOVATEK” and/or the “Company”) announced today that its joint venture Yamal LNG completed the first ship-to-ship LNG transshipment in the area near the port of Honningsvag in northern Norway. The Arc7 ice-class LNG tanker “Vladimir Rusanov” successfully reloaded an LNG cargo delivered from the Yamal LNG facility at …