Defining Moment for the World on Natural Gas: GECF Annual Workshop
The cleanest of all the fossil fuels has entered its most defining moment as the world gets back to the twin ambitions of economic recovery and sustainable progress, the participants of the 4th GECF Annual Workshop on Promotion of Natural Gas Demand heard on Wednesday (29 Sept). Welcoming the global …
Wintershall Dea Investigates Conversion of North Sea Natural Gas Pipelines for CO2 Transport
Wintershall Dea, Europe’s leading independent gas and oil company, is working with the OTH Regensburg University of Applied Sciences to explore how existing natural gas pipelines in the southern North Sea can be used for future CO2 transport. Initial calculations paint a positive picture. Results obtained so far suggest that the …
Rosneft and ExxonMobil to Cooperate in Carbon Management
Rosneft Oil Company and ExxonMobil have signed a Memorandum of Understanding to cooperate to assess the potential of lower-carbon technologies to reduce greenhouse gas emissions. The companies will consider the prospects of new projects initially focused on carbon capture, utilisation and storage and the development of lower-carbon fuels, such as …
RN-Yuganskneftegaz: Drills Record Well
RN-Yuganskneftegaz (a production asset of Rosneft) drilled a well with a record horizontal section length of 1,482 meters in the Bazhenov formation of the Priobskoye field. The company pays great attention to the development of hard-to-recover oil reserves (TRIZ). The growth of exploration drilling, as well as the fastest possible involvement …
OPEC Daily Basket Price: Wednesday, 29 September 2021, Stood at $77.13 a Barrel
Vienna, Austria, 30 September 2021 – The price of OPEC basket of thirteen crudes stood at $77.13 a barrel on Wednesday, compared with $78.37 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), …
Kashagan Reaches 500 Mln Barrels of Oil
North Caspian Operating Company N.V. (NCOC), the Operator of the North Caspian project, announces that it has reached another significant production milestone – 500 million barrels of oil since the start of the Kashagan oil production 5 years ago. This achievement demonstrates stable growth and development of NCOC, which continues …
PetroNeft Resources: Interim Results for the Half Year Ended 30 June 2021
PetroNeft Resources plc ( further referred to as the “Company” and together with its subsidiaries and joint venture, the “Group”, AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 90% owner and operator of Licence 67 and 50% owner and operator of …
Zoltav Resources: Half Year Report for the Six Months Ended 30 June 2021
Zoltav, the Russia-focused oil and gas exploration and production company, announces results for the six months ended 30 June 2021. Financial Summary: Revenues increased by 37% to RUB 755 million (Н1 2020: RUB 552 million), due to the increase in production (21%) and the positive impact of gas prices. Total …
GECF Analysis: Unprecedented High Gas Price: Security of Global Supply at Risk?
On Tuesday, 28 September, the price for gas in the European market broke the $1,000 per 1,000 cubic metres barrier for the first time ever. The price for October future at the TTF Hub reached $1,031 per 1,000 cubic metres. Several factors are perpetuating the unprecedented spike in the European …
LUKOIL: Enters Exploration Project in Caspian Sea
On 28 September 2021, PJSC LUKOIL signed an agreement on acquiring a 25% participating interest in the Shallow Water Absheron Peninsula (SWAP) exploration project in the Azerbaijan sector of the Caspian Sea from bp. The deal is expected to complete before the end of 2021, following its approval by the …