Riyadh Announced Its Readiness to Increase Oil Production if Prices Rise
Saudi Arabia has told the United States that it is ready to increase oil production in early 2024 if crude oil prices are high, the Wall Street Journal reports, citing Saudi and American officials. According to the publication, this move is aimed at winning favor in the American Congress to …
The Biden Administration May Stop Exxon from Buying Pioneer
Blaming Exxon for high gasoline prices in the US, the administration of President Joe Biden will try to leave the deal to buy Pioneer, writes Reuters As a result of the merger of Pioneer and Exxon, the latter will become the largest producer of petroleum products in the region. Analysts …
Ceremony Held for Launch of Russian Gas Supplies to Uzbekistan Across Kazakhstan
Today, the ceremony was held to mark the start of Russian natural gas supplies to the consumers of the Republic of Uzbekistan across the Republic of Kazakhstan. Taking part in the event were Vladimir Putin, President of the Russian Federation, Kassym-Jomart Tokayev, President of the Republic of Kazakhstan, Shavkat Mirziyoev, President of the Republic of Uzbekistan, Alexey Miller, Chairman of the Gazprom Management Committee, …
Acquisition Fever Intensifies in US Permian Shale Basin
Mergers and acquisitions (M&A) are picking up pace in the Permian, the largest oil basin in the United States. The reason for the increase in the number of mergers and acquisitions is simple: large companies want the fastest way to replenish their reserves for production, compensating for the depletion of …
Qatar Has Begun Work on Expanding the North Pars
A groundbreaking ceremony was held at the Ras Laffan Industrial Zone for the construction of facilities intended for the field expansion project. The Qatari state company QatarEnergy has begun work to increase production capacity at the North field. This was reported by the QNA news agency. A groundbreaking ceremony was …
Tengiz Expansion Project Postponed by Six Months
The launch of the Future Expansion and Wellhead Pressure Management (FGP-WPMP) project at the Tengiz field has been postponed by six months, Kazakhstan’s Energy Minister Almasadam Satkaliev told reporters on Wednesday. “We are talking about a postponement of 6 months,” he said, speaking about the planned launch date for the …
Qatar Will Develop a Joint Gas Field With Iran
Qatar’s Emir Tamim bin Hamad Al Thani laid the foundation stone for the Northern Dome expansion project on Tuesday morning. In a post on social media platform X, the Emir of Qatar said the groundbreaking for the Northern Dome expansion project was laid today, which is in line with Qatar’s …
Sinopec Pulled Out of Mansouriya Gas Project in Iraq
Chinese Sinopec has withdrawn from the Mansuriya gas field in Iraq, a representative of the Iraqi Ministry of Oil said at the presentation of blocks of new licensing rounds, writes Energy Intelligence. The Chinese company won the contract to develop the project with reserves of 4.5 trillion cubic feet in …
Saudi Arabia Will Continue to Voluntarily Reduce Production by 1 Million Bpd Until the End of the Year
Prior to this, the voluntary reduction was initially calculated for July, and then extended to August and September Saudi Arabia has decided to continue implementing measures to voluntarily reduce oil production by 1 million barrels per day (b/d) until the end of 2023. This was reported by the Saudi Press …
Rosneft is Developing Technologies for the Construction and Reconstruction of Wells
Rosneft held a scientific and practical conference “Engineering for construction and reconstruction of wells” in Samara. The main goal of the event is to find solutions to current technological problems, identify new innovative approaches and introduce best practices to improve the production efficiency of drilling engineering. As a leader in …