The Government Announced the Volume of Investments in the Rosneft Vostok Oil Project
The volume of investments in Vostok Oil in the north of the Krasnoyarsk Territory will amount to 11.8 trillion rubles, follows from the government order. In September, the head of Rosneft, Igor Sechin, estimated the volume of investments at about 12 trillion rubles. The volume of investments in the creation …
Igor Sechin Assessed the Potential of the Vostok Oil Project to Stabilize the Oil Market
The Vostok Oil project, in the context of a reduction in global investment in exploration and production, is capable of having a stabilizing effect on the entire hydrocarbon market, said the head of Rosneft, executive secretary of the Commission under the President of the Russian Federation on the strategy of …
Shales are Closing – Everyone is Moving to the Shelf
Oil production from mainland US fields is declining, the EIA reports, although recently their data showed record levels of oil production across the country. The United States is losing production from mainland fields, writes Reuters with a link to data from the Energy Information Administration (EIA) of the US Department …
The heads of Algerian Sonatrach and French TotalEnergies Discussed Strengthening Their Partnership
Rachid Hashishi and Patrick Pouyanné agreed to identify opportunities for cooperation, especially in the field of oil production The CEO of the Algerian state oil and gas company Sonatrach, Rachid Hashishi, met in Algeria with the head of the French oil and gas company TotalEnergies, Patrick Pouyanne. The parties discussed …
A New Oil Formation is Gaining Popularity in Alberta, Canada
The Waseca Formation, which has heavy oil rather than oil sands, has seen the biggest increase in drilling applications in Canada this year. This year, oil companies have applied for 81 licenses to drill in the so-called Waseca formation in eastern Alberta (Canada). This is 30 more applications than in …
Tango FLNG and Excalibur FSU Heading to the Republic of Congo
The Tango FLNG floating liquefied natural gas (FLNG) plant and the Excalibur floating LNG storage unit (FSU) have headed to the Congo continental shelf after an upgrade by Exmar. The press service of the Italian Eni reported this. The dispatch ceremony was attended by the Minister of Hydrocarbons of the …
Norway in September Reduced Gas Production to a Four-Year Minimum
Natural gas production in Norway in September amounted to 5.99 billion cubic meters, according to preliminary data from the Norwegian Petroleum Directorate (NPD). This is the minimum volume for four years. The indicator fell by 34% year-on-year and by 38% month-on-month. NPD forecast production at 9.5 billion cubic meters. Norway …
The Head of the Board of Directors of LUKOIL, Vladimir Nekrasov, Has Died
Vladimir Nekrasov was elected head of the board of directors of LUKOIL last year, after the death of the previous head of the board, Ravil Maganov. The company reported that Nekrasov died of heart failure Chairman of the Board of Directors of LUKOIL Vladimir Nekrasov died at the age of …
More Than Two Dozen Hydrocarbon Deposits were Discovered in Russia in Nine Months
But due to the state of the resource base in the country, mostly small deposits are being discovered Rosnedra reported that in January–September 23 new hydrocarbon fields were discovered in the country. However, fewer and fewer large assets are being identified every year. This year, the discovery of a large …
Alexander Novak Announced the Stagnation of Shale Oil Production in the United States
According to the Deputy Prime Minister of the Russian Federation, the industry has still not recovered from the stress of the pandemic Shale oil production in the United States is stagnating at approximately the same level, Russian Deputy Prime Minister Alexander Novak said in an interview with Business FM. US …