RussNeft: Reserves Addition Amounted to 13.8 Million Tons in 2020-2021, According to the SPE-PRMS Classification
The increase of 2P reserves of PJSC “RussNeft” under SPE-PRMS amounted to 13.8 million tons in 2020-2021. Compensation of the production of the reserves of categories АВ1С1+В2С2 according to the Russian classification in the reporting year amounted to 100%. At the same time, the share of hard-to-recover reserves in the …
Tyumenneftegaz: Reduced the Well Drilling Cycle
The Tyumenneftegaz company, which is part of the oil and gas production unit of NK Rosneft, reduced the drilling cycle of production multilateral wells to 20.9 days in 2021. This is 11.6% less than a year earlier. The economic effect from the reduction in drilling time amounted to more than 7 million …
NOVATEK: Unique NSR Voyage Delivers a Module for Arctic LNG 2
PAO NOVATEK announced that the Arc7 ice-class module carrier AUDAX completed its voyage along the Northern Sea Route (NSR) long after the traditional navigation season closure, to deliver a process module weighing almost 12,000 tonnes for Arctic LNG 2 from the Chinese port of Tianjin to Murmansk. The module will …
Gazprom Neft: 2021 Net Profit Reaches an All-time High
Gazprom Neft (the “сompany”) has today published its IFRS consolidated financial statements for the 12 months and fourth quarter (Q4) ended 31 December 2021 (FY 2021). Gazprom Neft’s financial performance for FY2021 was at an all-time high, with revenue reaching ₽3.068 trillion in FY2021, up 53.5% y-o-y. Adjusted EBITDA1 (earnings before interest, taxes, depreciation, and amortisation) reached ₽986.1 billion, …
OPEC Daily Basket Price: Wednesday, 16 February 2022, Stood at $95.32 a Barrel
Vienna, Austria, 17 February 2022 – The price of OPEC basket of thirteen crudes stood at $95.32 a barrel on Wednesday, compared with $94.73 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), …
Gazprom Neft: Replenished Production with New Reserves by 283%
In 2021, Gazprom Neft’s total proven and probable reserves, including its share in joint ventures, reached 4.1 billion toe. At the end of 2021, the proven reserves (proved, 1P) of Gazprom Neft hydrocarbons according to international PRMS standards increased to 2.27 billion tons of oil equivalent, which is 6.8% higher …
Effect of Technologies Created by Gazprom Neft in 2021 will Exceed 11 Billion Rubles
In 2021, the Gazprom Neft upstream unit developed 8 new technological products to improve the efficiency of hydrocarbon production processes. Their implementation in the future will provide the company with additional profit in the amount of more than 11 billion rubles. Key developments in 2021 are related to new engineering approaches …
NOVATEK: Announces Consolidated IFRS Results for the Year Ended 31 December 2021
PAO NOVATEK today released its audited consolidated financial statements for the year ended 31 December 2021 prepared in accordance with International Financial Reporting Standards (“IFRS”). IFRS Financial Highlights (in millions of Russian roubles except as stated) FY 2021 FY 2020 Oil and gas sales 1,135,206 699,750 Other revenues 21,518 …
OPEC Daily Basket Price: Monday, 14 February 2022, Stood at $95.16 a Barrel
Vienna, Austria, 15 February 2022 – The price of OPEC basket of thirteen crudes stood at $95.16 a barrel on Monday, compared with $92.85 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), …
Fitch Ratings Affirmed Tatneft’s Credit Rating at “BBB-“ with a Stable Outlook
Fitch Ratings has affirmed the international Long-Term Issuer Default Rating of Tatneft at “BBB-“ with a Stable Outlook. Upon the credit rating affirmation, the agency’s analysts mentioned, amongst others, low debt levels of Tatneft, significant production volumes and a high reserve life, supporting high credit quality of the Company. Fitch …