UAE Company Acquires Part of Former Glencore Stake in RussNeft
United Arab Emirates-Based Company Acquires Part of Former Glencore Stake in Public Joint Stock Company RussNeft. A company based in the United Arab Emirates, OCN International DMCC, has acquired a 16.33 percent stake in the ordinary shares of Public Joint Stock Company RussNeft, according to official corporate documentation. As reported …
10th Anniversary KDR – Well Engineering Forum: September 18, 2025, Astana, Kazakhstan
Shaping the Future of Well Engineering in Kazakhstan The KDR 2025 Well Engineering Forum returns on 18 September 2025, marking its 10th anniversary edition as the leading platform for drilling, completion, and production in Kazakhstan. The event will take place at the prestigious Rixos President Hotel in Astana, gathering key …
Lukoil Reduces Oil Production by 2.6 Percent in 2024
According to its annual report, Russian oil company Lukoil reduced its oil and condensate production in 2024 by 2.6 percent, excluding the West Qurna-2 project, to 80.4 million metric tons. Production within the Russian Federation also declined by 2.6 percent, totaling 76.5 million metric tons, which accounted for approximately 15 …
Shell to Complete Exploration of Venezuela’s Dragon Field Before U.S. License Expires
British oil and gas company Shell plans to complete exploration activities at the Dragon gas field in Venezuela by May — the deadline set by the United States government for foreign companies to wind down operations in Venezuela’s energy sector, according to Reuters sources. According to data from LSEG, in …
Ankara Plans to Develop Gas Reserves on Bulgaria’s Continental Shelf
Turkey intends to sign an agreement next month that will allow the state-owned energy company Turkish Petroleum Corporation (Türkiye Petrolleri Anonim Ortaklığı, TPAO) and a foreign partner to conduct exploration activities in a section of the Black Sea located off the coast of neighboring Bulgaria, the Turkish Ministry of Energy …
ALROSA and SakhaTransNefteGaz to Develop Hydrocarbon Fields in Yakutia
Diamond mining company ALROSA and national oil and gas firm SakhaTransNefteGaz have entered into a partnership to jointly explore hydrocarbon reserves at the Ulugur and Ergedzhei license blocks in the Republic of Sakha (Yakutia), Russia. The collaboration is carried out through a joint venture named UlugurNefteGaz, according to the company’s …
Winners Announced for Gazprom Neft’s “Multiplying Talents” Academic Tournament for High School Students
St. Petersburg has hosted the final round of the 10th annual “Multiplying Talents” tournament — one of Russia’s largest academic competitions in science, technology, and engineering. High school students from Moscow, Klin, Khanty-Mansiysk, Omsk, Muravlenko, Tarko-Sale, Tyumen, Tomsk, and Orenburg took home top honors. The tournament is organized annually by …
BP Secures Its First Exploration License in India in Partnership with ONGC and Reliance
At the same time, India has launched its tenth — and largest to date — licensing round, offering 25 blocks covering nearly 192,000 square kilometers. Source
Gazprom Neft to Establish a Network of Test Sites in Western Siberia for Hard-to-Recover Oil Technologies
Gazprom Neft has received new licenses for the establishment of technology test sites dedicated to piloting domestic solutions for the development of hard-to-recover oil reserves (HRR). This initiative will enable the company to create the largest network of such sites in Russia, accelerating the deployment of advanced approaches to unconventional …
Baker Hughes: U.S. Rig Count Rises for the First Time in Four Weeks
The number of active drilling rigs in the U.S. — a key indicator of future hydrocarbon production — increased by 2 unitsin the week ending April 17, marking the first uptick in four weeks, according to Baker Hughes. The total U.S. rig count now stands at 585, which is 34 …