Vladimir Putin Instructed to Transfer the Assets of Achimgaz to Gas Technologies LLC
Russian President Vladimir Putin ordered the transfer of Achimgaz assets to the Russian Gas Technologies LLC; the corresponding decree was published on the official legal information portal. “The Government of the Russian Federation creates Russian limited liability companies, to which, on the basis of this Decree, all the rights and …
The President Signed a Law on the Abandonment of Unactive Licenses for Geological Exploration
President Vladimir Putin signed amendments to the law “On Subsoil”, designed to stop the practice of “sleeping” licenses for geological exploration – now the payment for subsoil will be increased several times if geological exploration of a site is delayed. The document was published on the official legal information portal. …
Gazprom Expects Increased Investment in Hydrocarbon Production in the World
Gazprom predicts an increase in the volume of investments in the exploration and production of hydrocarbons in the world by the end of the year, and for the first time since 2019 it will exceed $500 billion, said the deputy head of the department – the head of the company’s …
In January-November, Azerbaijan Reduced Oil and Condensate Production By 7.4%, and Increased Gas Production By 4.1%.
Oil production with gas condensate in Azerbaijan in January-November 2023 amounted to 27 million 695.4 thousand tons, which is 7.4% lower than the same period in 2022, the State Statistics Committee told the Interfax-Azerbaijan agency. Including, the production of commercial oil with condensate amounted to 27 million 597.8 thousand tons …
Naftogaz of Ukraine Launched New Wells For Gas Production
The state gas production company Ukrgazdobycha, part of the Naftogaz of Ukraine group, launched two more wells, which increased production by more than 200 thousand cubic meters of gas per day, the company’s press service reported on Tuesday. Ukrgasvydobuvannya commissioned two high-yield wells. Both were drilled at the same field: …
Belorusneft and Gazprom Neft Subsidiaries Intend to Develop Cooperation
A memorandum of cooperation was signed by representatives of Belorusneft and subsidiaries of Gazprom Neft PJSC, BelTA learned from the company. The delegation of Gazprom Neft PJSC got acquainted with the work of Belorusneft divisions during a three-day visit to the Gomel region. A memorandum of bilateral cooperation was signed …
China Increased Oil Production By 2.5% and Gas Production By 5.3% in November
China increased oil production in November by 2.5% compared to the same month last year to 17.2 million tons, the State Statistics Administration reported. For eleven months, production amounted to 191.25 million tons, which is 1.8% higher than the figure for the same period in 2022. The volume of oil …
Vladimir Putin Ordered to Deprive Wintershall and OMV of a Stake in Russian Assets
Putin signed decrees depriving Wintershall and OMV of their shares in two joint ventures with Gazprom. Putin ordered the creation of an LLC to manage the Yuzhno-Russkoye and sections of the Achimov deposits of the Urengoy oil and gas condensate field; SOGAZ and Gas Technologies are offered to acquire shares …
Gazprom Board of Directors Approves Investment Program and Budget For 2024
The Gazprom Board of Directors took note of the information about the Company’s preliminary operating results for 2023 and the projected investment program and budget (financial plan) for 2025–2026. The Board of Directors approved the investment program and budget (financial plan) of Gazprom for 2024. The figures of the investment program did not change compared to the version endorsed …
State Funding for Oil and Gas Exploration in 2024 Will Amount to 11.3 Billion Rubles
The Ministry of Natural Resources emphasized that starting from 2022, five objects are being studied within the framework of the federal project “Geology: Revival of a Legend” in order to search for gas deposits. Federal funding for geological exploration of hydrocarbons in Russia in 2024 will remain approximately at the …