Saudi Arabia in July Reduced Oil Production by 9.5%, Exports by 11.6%
In July, Saudi Arabia reduced oil production compared to the previous month by 9.5%, and exports by 11.6%, according to data on the website of the Joint Organization Data Initiative (JODI). Export volumes amounted to 6.012 million barrels per day (b/d), compared with 6.804 million b/d in June. However, it …
The Government of the Russian Federation and Gazprom Neft Signed an Agreement on the Joint Development of Russian Equipment for Oil Production
The Russian government and Gazprom Neft will join forces in the development of domestic equipment for drilling and hydrocarbon production on land. The corresponding agreement of intent was concluded within the framework of the TNF industrial and energy forum and is aimed at ensuring the technological sovereignty of the Russian …
Gazprom Neft has Opened the Selection of Startups for the Third Stream of the INDUSTRIX Accelerator
The Gazprom Neft accelerator INDUSTRIX has begun accepting applications from developers of industrial solutions. Finalists will receive expert and business support, will be able to refine and test their products in production, and also qualify for venture funding. The acceptance of applications started at the TNF Industrial and Energy Forum …
Equinox Has Presented a Plan for the Development of the Eirin Gas Field in the Amount of NOK 4 Billion
Norway’s largest oil and gas company Equinor today announced that it has submitted to the Norwegian Ministry of Petroleum and Energy a plan for the development and operation of the Eirin gas field in the North Sea, worth NOK 4 billion ($374 million). The Eirin field, discovered in 1978 and …
Olzhas Begimbetov Headed the Department of Geology and Exploration of the Oil Company “KazMunayGas”
Olzhas Begimbetov has been appointed to the position of Director of the Geology and Exploration Department of JSC OC KazMunayGas, reports MIA Kazinform with reference to the company’s press service. In previous years, Olzhas Begimbetov worked as director of the geological exploration department, director of the resource base development department, …
Rosneft Has Opened the Center for the Study of Carbonate Deposits of Hydrocarbons
Rosneft oil company, on the basis of its own research and design unit, created a Competence Center for the study of carbonate hydrocarbon deposits. The professional community unites more than 300 specialists from 22 mining enterprises and 9 corporate scientific institutes. The tasks of the expert center include the development …
The Permian Shale Basin is Hit by a Wave of Acquisitions
M&A activity is picking up pace in the Permian, the largest shale oil and gas basin in the United States. The M&A wave is being driven by the largest shale formation in the US as companies race to quickly rebuild their dwindling assets. Simply put, given Biden’s green policies and …
United States Imposed Sanctions Against a Number of Oilfield Companies in the Russian Federation
The United States imposed sanctions against the next companies in the Russian oilfieldings, the Office of the American Ministry of Finance (OFAC) said. Velesstroy LLC, one of the largest contractors for the construction of oil and gas infrastructure, fell under the restrictions. Earlier, the company introduced a number of key …
Shell Sold North Sea Field Despite Its Prospects
Shell sold the Cambo field project in the North Sea to Britain’s Ithaca Energy. The Kambo field is the second largest untapped oil and gas field in the UK North Sea. However, Shell believes that the time has come to part with such an asset by selling it to Britain’s …
KazMunayGas and Lukoil Have Formed an Operator for a Joint Project
The national oil and gas company of Kazakhstan KazMunayGas (KMG) and the Lukoil company are completing the procedures for forming the operator Kalamkas-Khazar Operating LLP of the Caspian offshore production project Kalamkas-Sea, Khazar, Auezov, the KMG press service reported. According to the press service, the head of KMG Magzum Mirzagaliev …