Eurasia Journal News

According to the results of the audit performed by DeGolyer & MacNaughton under the SEC (United States Securities and Exchange Commission) life-of-field classification, as of December 31, 2015, Rosneft proven hydrocarbon reserves stood at 34,465 mmboe (4,654 mmtoe). The Company’s hydrocarbon reserves growth accounted 488 mmboe (59 mmtoe). Reserves growth …

Statoil today launches a new venture capital fund dedicated to investing in attractive and ambitious growth companies in renewable energy, supporting its strategy of growth in new energy solutions. The new fund, Statoil Energy Ventures, will invest up to USD 200 million (around NOK 1.7 billion) over a period of …

Alexander Chernov is appointed as Director General of Gazprom Georesource. Alexander Chernov was born in 1981 in the Rostov Region. In 2003 he graduated from the South-Russian State Technical University (Novocherkassk Polytechnic Institute), majoring in Geophysical Methods of Mineral Deposit Prospecting and Exploration. Alexander Chernov has worked at Gazprom Group for 14 years. Between 2002 and 2004 – 4th category logger, geoscientist at a field …

Alexey Miller, Chairman of the Gazprom Management Committee held today at the Company’s headquarters a meeting on cooperation with Russian pipe companies. Taking part in the meeting were Andrey Kruglov and Vitaly Markelov, Deputy Chairmen of the Gazprom Management Committee, Sergey Prozorov and Igor Fyodorov, Members of the Gazprom Management Committee as well as heads and representatives of the Company’s specialized structural units, Gazprom Komplektatsiya, the Pipe Producers …

Oil giant Rosneft is interested in the privatization of Saudi Arabia’s national petroleum company Saudi Aramco, according to Rosneft CEO Igor Sechin who made the statement at the International Petroleum Week forum in London. “We are very interested in possible privatization of Saudi Aramco and we would support such a …

The head of Rosneft, the Kremlin-controlled oil company, has blamed ‘robot’ traders and producers in the Middle East and US for crushing oil prices, in a sign Moscow is unlikely to back calls for coordinated output cuts with OPEC. Igor Sechin, the close ally of president Vladimir Putin and Rosneft …

Petrosibir’s total oil production in January 2016 amounted to 41,130 barrels, equivalent to 1,327 barrels per day. The table below summarizes the production broken down by region. Petrosibir owns 100% of the Russian company Ingeo Holding, which holds a production license in Bashkiria. Petrosibir also owns 49% of the Cypriot …

Gazprom Neft has begun investigating reserves at the Bazhenov formation* at Vyngayakhinskoye field, Yamalo-Nenets Autonomous Okrug (a project currently being implemented by Gazpromneft-Muravlenko). Marking the company’s first foray into the investigation of unconventional reserves (a category that includes the Bazhenov formation) Gazprom Neft has, hitherto, been concentrating on identifying the …

Despite current weakness in global energy markets and the slowdown in China’s growth, demand for energy will continue to grow over the next 20 years and beyond as the world economy expands and more energy is required to power the higher level of activity. According to the 2016 edition of …

International sanctions against Russia introduced in 2014 turned out not to be the bogeyman they first seemed to be, and could in fact have played a key role in helping the Russian oil sector to not only handle the sharp price drop over the last year and a half, but …