The Russian Federation is Preparing a Bill on the Sovereign Audit of Hydrocarbon Reserves
…And their classification is harmonized with friendly countries. In Russia, a bill is being developed to create a system of independent audit of mineral reserves. In addition, reserve classifications are being harmonized with China, Belarus, Uzbekistan and Tajikistan. The task has also been set to create a domestic system of …
Production Potential of Kashagan Can Reach 75 Million Tons of Oil per Year – Prime Minister of the Republic of Kazakhstan
Prime Minister of Kazakhstan Alikhan Smailov spoke at a solemn event in honor of the 30th anniversary of the start of the development of the Kazakh shelf of the Caspian Sea with the participation of veterans of the oil and gas industry of the republic, Kazinform reports with reference to …
Novak: Russia is Considering Accelerating the Launch of the Yuzhno-Kirinskoye Gas Condensate Field on the Sakhalin Shelf
The Vice Prime Minister noted that the priority goal is to develop gas supply to the Komsomolsk industrial hub and Vladivostok. Russia is considering accelerating the launch of the Yuzhno-Kirinskoye gas condensate field (GCF) on the Sakhalin shelf, Russian Deputy Prime Minister Alexander Novak wrote in an article for the …
Novak: Voluntary Decision to Reduce Oil Production will be Reviewed Monthly
The voluntary cut in oil exports from Russia by 300,000 barrels per day will be extended until the end of December 2023. This was stated by Deputy Prime Minister Alexander Novak. Thus, our country minimizes the risks of lower oil prices. According to the Deputy Prime Minister, the additional voluntary …
Samara Subsidiary of Rosneft Replenished Reserves by 246%
Samaraneftegaz discovered 20 new hydrocarbon deposits in the fields under development in 2022. The rate of production replenishment by the growth of oil reserves reached 246%. The Devon news agency learned about this from a message from the press service of Rosneft Oil Company. Last year, Samaraneftegaz drilled about 200,000 …
The Federal Property Management Agency Leased the Salym Well to RN-Yugansneftegaz
The annual user fee will be 4.17 million The Department of the Federal Property Management Agency for the Tyumen Region, Khanty-Mansi Autonomous Okrug and YaNAO held an auction to lease the federal property of the Salym oil well No. 145, located at the Salym field in the Nefteyugansk region. The …
Saudi Arabia Extends Oil Production Cut by 1 Million b/d Until the End of the Year
Prior to this, the voluntary reduction was calculated first for July, and then extended to August and September Saudi Arabia has decided to extend the voluntary cut in oil production by 1 million barrels per day (b / d) until the end of 2023. This was reported by the Saudi …
Germany Calls for Fracked Gas Production to Reduce Energy Prices
According to Clemens Fuest, head of the Munich Institute for Economic Research Ifo, “a decisive expansion of renewable energy sources is right, but not enough.” Leading German economists have proposed concrete steps to reduce energy prices. Thus, Clemens Fuest, head of the Ifo Institute for Economic Research in Munich, advocated …
Venezuela Cannot Service Its Oil Fields – no Funds
Due to problems in the preparation of extra-heavy Venezuelan oil for export, its volumes in August decreased by 38% compared to three-year figures for the same period. The state company PDVSA was unable to ensure the uninterrupted operation of facilities for the preparation of heavy oil produced in the Latin …
Brazilian Petrobras Announces New Upstream Policy
Brazil’s state oil company Petrobras said Monday it has decided to suspend the sale of some key assets. The oil giant said it would no longer sell the Uruk and Bahia Terra clusters, as well as the Manati oil field and its subsidiary Petrobras Operaciones in Argentina. The asset sale …