LNG Carriers Are Completing the Northern Sea Route Passage
PAO NOVATEK announced that two Arc7 ice-class LNG tankers “Vladimir Rusanov” and “Eduard Toll” are completing the Northern Sea Route passage via the Eastern direction. The “Vladimir Rusanov” passed the Northern Sea Route and arrived at the Bering Strait, while the “Eduard Toll” entered open water in the Chukchi Sea. …
Vitol to Offer $650 mln more to Kazakhstan in Oil Prepayment Deal
Latest Kazakh deal could be signed next week – source New funds will raise prepayment to $2.25 bln Prepayments help traders secure supplies, lift margins By Julia Payne, Olzhas Auyezov and Gleb Gorodyankin Major European trader Vitol is set to increase its cash-for-oil deal with Kazakhstan’s state energy firm by …
BP Starts-up Landmark Shah Deniz 2 Development in Azerbaijan
BP and its partners in the Shah Deniz consortium today announced the start-up of the landmark Shah Deniz 2 gas development in Azerbaijan, including its first commercial gas delivery to Turkey. BP-operated $28 billion project starts-up on time and on budget Provides gateway for new supplies of energy into Europe …
GlobalData: BP’s acquisition of Chargemaster essential for future growth as electric vehicles set to reach 90% of all car sales by 2050
Following yesterday’s news (Thursday 28 June) that BP is acquiring Chargemaster, the largest charging infrastructure company in the UK, Harminder Singh, Director for Power at GlobalData, a leading data and analytics company, offers his views on this development: ‘‘In a significant move, BP has acquired Chargemaster, the UK’s largest electric …
Urals Energy: Okruzhnoye P1 Reserves Recalculated and Increased by 264%
The Board of Urals Energy (AIM:UEN), the independent exploration and production company with operations in Russia, provides an minor update to the Competent Person’s Report (“CPR”) that was recently prepared by Blackwatch Petroleum Services Limited (“Blackwatch”). The Executive Summary of the CPR was announced on 11 May 2018. The main …
Russia Further Aligns with OPEC to Control Crude Production, says GlobalData
“Solidifying of the Russian-OPEC relationship at Friday’s 174th Meeting of the OPEC Conference in Vienna was a desired outcome for Russia, even if production increase commitments were smaller than advocated by the country’s representatives,” says Anna Belova, Senior Analyst for Oil & Gas at GlobalData, a leading data and analytics …
PetroNeft Resources plc: 2017 Final Results
PetroNeft owner and operator of Licences 61 and 67, Tomsk Oblast, Russian Federation, is pleased to report its final results for the year ended 31 December 2017. Highlights S-375s delineation well at Sibkrayevskoye produced about 150 bopd on test with an electric submersible pump Gross production at Licence 61 in …
Industry Investment Gears to Gas as Nearly Half of Senior Oil and Gas Professionals Actively Prepare for the Energy Transition
44% of industry leaders are actively getting ready for the shift to a lower-carbon energy mix Nearly two-thirds (64%) of oil and gas sector leaders expect to increase or sustain spending on gas projects in 2018, as the sector prepares for gas to overtake oil as the world’s primary energy …
Rosneft Holds Annual General Meeting of Shareholders
Rosneft’s Annual General Shareholders Meeting was held in Krasnoyarsk on June 21. Holders of 92.54% of the Company’s shares took part in the meeting. The Meeting approved the Annual Report, Annual Financial Statements and Profit Distribution of Rosneft for 2017. The decision was taken to distribute 70.5 billion rubles (6 rubles …
Russia’s LUKOIL Ready to Lift Output if OPEC and Allies Adjust Pact
Russia’s second-largest oil firm Lukoil is ready to increase its oil production by 23,000 barrels per day (bpd) in two to three months if OPEC and its allies agree to ease their output curbs, the company said. The Organization of the Petroleum Exporting Countries, Russia and other oil producers are …