Rosneft Increased Gas Production by 31.8 Percent
Rosneft increased gas production in the first half of the year by 31.8%, to 43.7 billion cubic meters (1.5 million boe per day), the company said. “The company’s gas production in the first half of 2023 increased by 31.8% compared to the first half of 2022 and reached 1.5 million …
Shale Needs Money to Keep Production
In Q2 2023, U.S. shale oil reinvestment rates hit a 3-year high Rystad Energy analysts indicated that the 18 oil and gas companies that account for 40% of U.S. shale production had a reinvestment rate (the ratio between capital expenditures and cash flow from operations) was at 72% during the …
The Governor of Khanty-Mansi Autonomous Okrug Proposed to Return the Right to Dispose of Subsoil to the Regions
The governor of the Khanty-Mansi Autonomous Okrug Natalya Komarova proposed to return the right to dispose of small deposits to the regions. The head of Yugra made such a statement at a closed meeting with the heads of large oil companies on tax legislation under the State Duma Committee on …
Yugra Proposed to Establish a Deduction from the Severance Tax to Stimulate Exploration
The government of the region said that this will allow additional reserves to be put on the balance sheet, maintain the required level of oil production and save jobs. The Governor of the Khanty-Mansiysk Autonomous Okrug – Yugra, Natalya Komarova, proposed establishing a deduction from the mineral extraction tax (MET) …
Events in Gabon did not Affect the Work of the Oil Company M&P
The events in Gabon do not affect the operation of the facilities of the French oil company Maurel & Prom (M&P), its press service told RIA Novosti. “The current situation does not affect our facilities, operational activities are going on normally, without consequences for production,” the press service noted. “M&P …
High-Viscosity Oil will Continue to be Produced in the Nurlat Region
To do this, Tatneft will lay a network of pipelines. Tatneft will start the fourth stage of development of the Pionerskoye field. This is necessary for the development of high-viscosity oil reserves. The project documentation has already received a positive conclusion from the Glavgosexpertiza of Russia. The news agency “Devon” …
Gazprom Developing Cooperation with Russia’s Higher Education Institutions
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Valery Falkov, Minister of Science and Higher Education of the Russian Federation, took place today at the Company’s headquarters in the Lakhta Center. The parties, inter alia, discussed matters pertaining to the development of Gazprom’s anchor universities and universities having a special partnership with the Company. It was highlighted …
Oil and Gas Company Saneg from Uzbekistan Increased Gas Production by 3.5 Times
One of the largest oil and gas companies in Uzbekistan – Saneg – from 2021 to 2022 increased gas production by 3.5 times, to 1.4 billion m3. This was reported by the press service of the company. Saneg is the executor of the government program to increase oil production in …
The Number of Oil and Gas Drilling Rigs in the US Decreased in August
The number of active oil rigs in the US fell in August for the ninth consecutive month, while the combined number of active oil and gas rigs fell for the fourth month. This was announced on Friday at the oilfield service company Baker Hughes. The total number of active oil …
Oilfield Service Company ADES to List 30% of Shares in IPO
Saudi Arabia Public Investment Fund (PIF) and ADES Investments Holding Ltd. and Zamil Group Investment Ltd. are planning to list a 30% stake in ADES International Holding, one of the leading providers of drilling and oil and gas production services in the Middle East and Africa. As they say in …