DNV GL Research Forecasts Oil and Gas Capex and R&D Spending Boosts in 2018, but Industry Still Promises to Keep a Cap on Costs
Industry confidence has increased much faster than the oil price, as two-thirds of senior professionals globally plan to maintain or increase capital spending in 2018. 36% expect to increase investment in R&D and innovation – the highest level recorded in four years. Efficiency remains a priority, however, as half of …
PetroNeft Resources plc: Quarterly Production Update
PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licences 61 and 67, provides an update on oil production at Licence 61 in the fourth quarter of 2017. Licence 61 Gross Production Q4-2017 Q3-2017 …
Cadogan Petroleum Plc Operational Update
Cadogan Petroleum plc (“Cadogan”), the London Stock Exchange listed, independent, oil & gas company, is pleased to provide the following operational update post year end. Revenues from E&P operations combined with a further reduction in G&A costs, strict discipline on all spending and a rigorous management of receivables have helped …
Gazprom Will Drive Over 60% of Russian Gas Production in 2021, Says GlobalData
Natural gas production analysis shows that over $55.7bn in capital expenditure (capex) would be spent by Russia-focused operators on gas projects over the next four years to ensure that country’s production remains around 61 billion cubic feet per day (bcfd) in 2021 according to GlobalData, a leading data and analytics company. …
NOVATEK Announces Year-End 2017 Reserves
Moscow, 23 January 2018. PAO NOVATEK (“NOVATEK” and/or the “Company”) announced that independent petroleum engineers, DeGolyer & MacNaughton, have completed their comprehensive reserve appraisal of the Company’s hydrocarbon reserves as of 31 December 2017. Total SEC proved reserves, including the Company’s proportionate share in joint ventures, aggregated 15,120 million barrels of …
Onshore Fields Account for More Than Half of ExxonMobil’s Crude Production to 2021, says GlobalData
Analysis of upstream crude oil production shows that over $39.2bn in capital expenditure (capex) is forecast to be spent by ExxonMobil on oil projects over the next four years to ensure that its production remains around 2.1 million barrels per day (mmbd) in 2021. The Upper Zakum field would drive …
Gazprom and LUKOIL Discuss Cooperation Prospects
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Vagit Alekperov, President of LUKOIL, took place in Moscow today. The parties discussed issues related to cooperation, including the prospects for further collaboration in the areas of gas supplies, transmission and processing. Source
Kazakhstan Oil Output to Rise 1 pct in 2018 to 87 mln T – Energy Ministry
MOSCOW, Jan 16 (Reuters) – Kazakhstan will increase its oil and gas concentrate production in 2018 by 1 percent to 87 million tonnes, compared to 86.2 million tonnes the previous year, its energy ministry told Reuters on Tuesday. Oil production at its giant Kashagan oil field will rise by 33 …
PetroNeft: Agrees US$2m Loan with Petrogrand, Winter Operations Commence
PetroNeft an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licences 61 and 67, is pleased to provide a financing update. Highlights US$2 million loan agreed with Petrogrand AB Operations – Winter production from Sibkrayevskoye is getting …
Zoltav: Exploration Programme Assess the Carbonian and Devonian Structures
Zoltav, the Russia-focused oil and gas exploration and production company, is pleased to provide an update on the Company’s exploration programme to assess the resource potential of the Carbonian and Devonian structures in the Western Fields of the Bortovoy Licence, Saratov. As previously stated, Zoltav believes there is potential to …