Mechanisms to Stimulate Work at Depleted Fields Will be Introduced in the Republic of Kazakhstan
Deputy Duisenbai Turganov commented on the bill on improving the sphere of subsoil use, approved today in the first reading at the plenary meeting of the Mazhilis, a Kazinform correspondent reports. In turn, Vice Minister of Energy Askhat Khasenov said that the number of depleted fields in the country has …
Russia Kept Oil Production in August at July Levels
It amounted to 9.48 million b/d Russia maintained oil production in August 2023 at the level of the previous month – 9.48 million barrels per day (b/d), according to a report by the International Energy Agency (IEA). At the same time, the Russian Federation’s revenues from oil exports, according to …
Offshore Gas Production in Colombia Attracts Oil and Gas Majors
British Shell and Brazilian Petrobras have shown interest in expanding their participation in gas production projects on the shelf of the Latin American country. Shell and Petrobras are ready to work in Colombia even though the country’s current president wants to abandon fossil fuels and has stopped issuing new licenses …
Plans for Oil Production Volumes in Kazakhstan This Year May Not be Fulfilled
Vice Minister of Energy of the Republic of Kazakhstan Askhat Khasenov noted that this year oil production volumes in Kazakhstan may decrease slightly, a Kazinform correspondent reports. According to him, even if the target of 90 million tons is not fulfilled, about 89 million tons of oil can be produced …
Rising Oil Production in September will Pose a Dilemma for Oil Workers
In September, oil workers will be forced to choose: continue to reduce oil exports or reduce production. Since the beginning of September, Russia has been increasing oil exports by sea. According to the Kommersant newspaper, in the first days of this month, sea exports amounted to 3.3 million bpd. These …
Putin: in the Far East There is Opportunity for Multiple Growth in Extractive Industries
According to the president, the percentage of subsoil exploration in the Far East on average across regions is now 35% The subsoil in the Far East is only 35% explored, taking into account this there is scope for multiple growth in the extractive industries, including scarce and strategically important types …
Novatek Intends to Maintain Gas Production Volumes in 2023
Production of liquid hydrocarbons will increase by 2-2.5% due to gas condensate, said the head of the company Leonid Mikhelson Based on the results of 2023, Novatek plans gas production at the level of 2022 – approximately 82 billion cubic meters. m or a little more. Production of liquid hydrocarbons …
The US Department of Energy Predicts that Oil Production in Russia will Decrease in 2023
The US Department of Energy predicts that oil production in Russia in 2023 will decrease by an average of 300 thousand barrels per day, and will not change in 2024, follows from the monthly short-term forecast of the Energy Information Administration (EIA) of the department. “We expect oil production in …
Kazakhstan Must Develop Its Own Oil Services – Tokayev
Kazakhstan should create mechanisms for financial support for its oil service companies, said the country’s President Kassym-Jomart Tokayev. “It is necessary to take effective measures to provide bank financing to Kazakh enterprises under signed contracts with oil and gas corporations. Financial regulators need to finally make a decision on this …
The President Instructed to Promote Oil Service Companies of Kazakhstan Abroad
In Akorda, at a meeting with representatives of domestic business, President Kassym-Jomart Tokayev noted that the oil service industry should become an important engine of growth and diversification of the domestic economy, MIA Kazinform reports with reference to the Akorda press service. According to the Head of State, it is …