Bashneft: will Reduce the Time for Well Testing by 150 times
To increase the efficiency of well survey, specialists from ANK Bashneft (part of Rosneft) began using Russian-made wireless dynamographs*. The new equipment has already been installed at 245 wells that are producing oil using rod pumps. In 2022, the number of new dynamographs will be increased to almost 2,000 units. At the first …
NOV: Acquires AFGlobal’s Advanced Drilling Systems to Offer Integrated Managed Pressure Drilling Solutions
NOV is pleased to announce that it has acquired the Advanced Drilling Solutions (“ADS”) business of AFGlobal. As the world’s leading independent provider of Managed Pressure Drilling (MPD) equipment, ADS brings trusted expertise and field-proven products to NOV’s portfolio of MPD offerings and enhances our ability to serve the needs …
OPEC Daily Basket Price: Tuesday, 22 February 2022, Stood at $97.94 a Barrel
Vienna, Austria, 23 February 2022 – The price of OPEC basket of thirteen crudes stood at $97.94 a barrel on Tuesday, compared with $94.30 the previous day, according to OPEC Secretariat calculations (view archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), …
OPEC Daily Basket Price: Monday, 21 February 2022, Stood at $94.28 a Barrel
Vienna, Austria, 22 February 2022 – The price of OPEC basket of thirteen crudes stood at $94.28 a barrel on Monday, compared with $92.79 the previous Friday, according to OPEC Secretariat calculations (view archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), …
Mitsui and Gazprom Neft Conclude Memorandum of Understanding on CCS and Decarbonization Projects in Russian Federation
Mitsui & Co., Ltd. and Gazprom Neft PJSC (“Gazprom Neft”) have reached agreement and concluded a Memorandum of Understanding (“MOU”) regarding the commencement of joint work with the aim of promoting carbon capture and storage (“CCS”) in the Russian Federation and other countries in which Mitsui and Gazprom Neft could …
OPEC Daily Basket Price: Friday, 18 February 2022, Stood at $92.79 a Barrel
Vienna, Austria, 21 February 2022 – The price of OPEC basket of thirteen crudes stood at $92.79 a barrel on Friday, compared with $94.03 the previous day, according to OPEC Secretariat calculations (view archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), …
MOL Group 2021 Results: Record High EBITDA Driven by Oil and Gas Prices
Today, MOL Group announced its financial results for Q4 and full year 2021. In a very volatile external environment, MOL Group generated USD 947mn Clean CCS EBITDA in Q4, bringing full-year Clean CCS EBITDA to an all-time high USD 3.531bn, above the updated guidance. Simplified free cash flow tripled since …
Bashneft: Replenishes Oil Reserves by 305% in 2021
ANK Bashneft (part of the Rosneft Oil Company) in 2021 increased its AB1C1 oil reserves by 43.2 million tons in 2021 through exploration, new acquisitions and reassessment of the reserves of producing fields, which made it possible to replenish annual production by 305% . Bashneft’s systematic work to build …
LUKOIL: Completes the Deal on Acquiring Interest in Shah-Deniz Project
PJSC LUKOIL announces completion of the transaction of buying a 9.99% interest in the Shah-Deniz gas project from PETRONAS. The transaction value is approximately $1.45 billion. Following the completion of the deal, LUKOIL increased its share in the project from 10% to 19.99%. Other parties to the project are bp …
Eni: Fourth Quarter and Full Year 2021 Results
Eni’s Board of Directors, chaired by Lucia Calvosa, yesterday approved the unaudited consolidated results for the full year and the fourth quarter of 2021. Eni CEO Claudio Descalzi said: “During 2021, we delivered excellent results and accelerated the pace of our transformation strategy, which leverages the integration of technologies, new …