OPEC and Non-OPEC Ministerial Meeting Highlights Importance of Ongoing Rebalancing Efforts
The 16th OPEC and non-OPEC Ministerial Meeting of the Declaration of Cooperation (DoC) took place via teleconference on Tuesday, 27 April 2021, under the Chairmanship of HRH Prince Abdul Aziz bin Salman, Saudi Arabia’s Minister of Energy, and Co-Chair HE Alexander Novak, Deputy Prime Minister of the Russian Federation. The …
Arctic LNG 2 Participants Conclude Long-Term Offtake Agreements
PAO NOVATEK announced today that its joint venture OOO Arctic LNG 2 concluded 20-year LNG Sales and Purchase Agreements (SPAs) for the total LNG production volumes with all the Project’s participants. The LNG sales from Arctic LNG 2’s first liquefaction train is planned to commence in 2023. The SPAs provide …
OPEC Daily Basket Price: Tuesday, 27 April 2021, Stood at $63.91 a Barrel
Vienna, Austria, 28 April 2021–The price of OPEC basket of thirteen crudes stood at $63.91 a barrel on Tuesday, compared with $63.22 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), Girassol (Angola), Djeno …
A Regular Meeting of the TATNEFT’s Board of Directors Was Held
A meeting of the Board of Directors of PJSC TATNEFT named after V.D. Shashin chaired by R.N. Minnikhanov, President of the Republic of Tatarstan, was held in Kazan on April 28, 2021. The information on the results of the PJSC TATNEFT’s budget execution for the first quarter of 2021 was …
NOVATEK and TOTAL Sign Heads of Agreement on Acquiring a 10% Stake in Arctic Transshipment LLC
PAO NOVATEK signed a Heads of Agreement with TOTAL on the sale of a 10% participation interest in Arctic Transshipment LLC. Arctic Transshipment LLC is NOVATEK’s wholly owned subsidiary that will eventual operate two LNG transshipment complexes currently under construction in the Kamchatka and Murmansk regions. The transshipment complexes are …
Gazprom Neft Creates New Technology Centers to Train Logistics Innovations
Gazprom Neft will train employees and customers in logistics innovations using new technology centers, the first of which opened on the basis of the Terminal * intelligent logistics space in the Khanty-Mansiysk Autonomous Okrug – Yugra. At the center of new technologies are presented key solutions implemented in the company’s …
Rosneft Employees Submitted 70 Innovative Projects to the Science and Technology Leadership Competition
Rosneft held the Scientific and Technological Leadership competition for 2020 among specialists, managers and design groups of the Company’s enterprises. This year, employees of 24 subsidiaries of the company presented more than 70 reports. Based on the results of the competition, a jury consisting of Rosneft experts determined the best innovative …
Bashneft Replenished Oil Reserves by 330% in 2020
ANK Bashneft (part of NK Rosneft) in 2020, due to geological exploration, new acquisitions and revaluation of reserves of operating fields, increased oil reserves in the amount of about 43 million tons of AB1C1 category. Reserves replacement was 330%. The systematic work of Bashneft to increase the resource base is carried …
OPEC Daily Basket Price: Monday, 26 April 2021, Stood at $63.22 a Barrel
Vienna, Austria, 27 April 2021 – The price of OPEC basket of thirteen crudes stood at $63.22 a barrel on Monday, compared with $63.63 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), …
The Structural Division of Tatneft, the TatNIPIneft Institute, is 65 Years Old
The order on the establishment of the Tatar Oil Research Institute (TatNII) was signed on April 24, 1956 with the aim of creating in Tatarstan a research and design base for solving urgent problems of exploration, development and operation of oil fields. The scientists of the institute, together with the oilmen, …