Region with the Largest Oil Reserves in Russia Identified
The leader in oil reserves in Russia is the Khanty-Mansi Autonomous Okrug – Yugra, which holds more than 11 billion tonnes of “black gold,” according to RIA Novosti, based on open data. In total, about 31 billion tonnes of explored and preliminarily estimated oil reserves are recorded in the country. …
Dragon and Beyond: Shell Agreed with Venezuela on Cooperation in Hydrocarbon Exploration and Production
Shell has signed a number of agreements with Venezuela on cooperation in hydrocarbon exploration and production. The documents were signed on March 5, 2026, in Caracas at the headquarters of Petroleos de Venezuela S.A. (PDVSA). Bergam’s Visit The signing took place in the presence of US Secretary of the Interior …
BP Stated That Sanctions Against LUKOIL Do Not Affect Oil Production at Shah Deniz
Production at the Shah Deniz field in the Caspian offshore continues at full capacity despite Western sanctions against LUKOIL, which holds nearly 20% in the project, said BP Regional President for Azerbaijan, Georgia and Turkey Giovanni Cristofoli at a press conference in Baku. “Management of the company’s share and revenues …
Kuwait Plans to Cut Oil Production Due to Storage Capacity Limits
Kuwait has begun reducing oil production at a number of fields as fuel storage facilities in the country fill up, The Wall Street Journal reports, citing informed sources. According to the sources, the country, which is the fifth-largest oil producer in OPEC, is considering reducing oil production and refining to …
Kazakhstan’s Ministry of Energy and Shell Sign Exploration Contract
The Ministry of Energy of the Republic of Kazakhstan has signed a contract with Shell Kazakhstan for geological exploration works at the Zhanaturmys subsoil area in the Aktobe region.This was reported by the ministry’s press service. The contract предусматривает the implementation of a комплекс of preparatory and research activities, including …
Kazakhstan Plans to Include 25 New Subsoil Areas in Gas Exploration in 2026
In 2026, Kazakhstan plans to include 25 new prospective subsoil areas in the state subsoil management programme and thereby increase the country’s natural gas resource potential.This was reported by the press service of the Ministry of Energy of the Republic of Kazakhstan. The Ministry of Energy of the Republic of …
World’s Largest LNG Producer Suspends Operations Following Iranian Strike
The company QatarEnergy suspended operations following an attack by an Iranian drone on two of its facilities in Qatar. It is the world’s largest exporter of liquefied natural gas, accounting for about 20% of global supplies. The state-owned Qatari energy company QatarEnergy halted liquefied natural gas production after an Iranian …
Gazprom Neft Expands Promising Exploration Cluster in Southern Yamal-Nenets Autonomous Okrug
Gazprom Neft has obtained a license for geological exploration of the Tursky subsoil block located in the Purovsky District of the Yamal-Nenets Autonomous Okrug. The license has been issued for a period of 5 years. The area of the block is 337 square kilometers. In the future, the new asset, …
Chevron to Conduct Hydrocarbon Exploration on the Greek Shelf
Dutch subsidiaries of the American company Chevron and the Greek company HELLENiQ ENERGY have signed lease agreements with the Greek authorities for offshore blocks on the continental shelf for hydrocarbon exploration. This was reported by the press service of Chevron. The agreements предусматривают exploration on the blocks “South Crete 1” …
ONGC Finalized the Acquisition of a Stake in the Operator of the Sakhalin-1 Project
The Indian company Oil and Natural Gas Corporation (ONGC) has successfully completed the transfer of funds to the decommissioning fund of the Sakhalin-1 project in order to retain its 20% stake in the project. This was announced during a conference call with analysts by the Managing Director of ONGC Videsh …