OPEC Daily Basket Price: Thursday, 11 March 2021, Stood at $67.39 a Barrel
Vienna, Austria, 12 March 2021–The price of OPEC basket of thirteen crudes stood at $67.39 a barrel on Thursday, compared with $65.60 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 …
OPEC Monthly Oil Market Report, March 2021
Spot crude prices surged by more than 13% in February to their highest monthly average since January 2020. Oil prices were supported by ongoing improvements in oil market fundamentals and a futures market that remained bullish in anticipation of a recovery in demand amid restrained global oil supplies. Oil prices …
Shell publishes Annual Report and Accounts
The Board of Directors of Royal Dutch Shell plc (the “Company”) has announced the appointment of Sir Andrew Mackenzie as the new Company Chair with effect from the conclusion of Shell’s 2021 Annual General Meeting, scheduled for May 18, 2021. Andrew will succeed Chad Holliday who will step down on …
The Birth of GreenIT the New Eni and CDP Equity Company for the Production of Electrical Power from Renewable Energy Sources
Eni and CDP Equity have set up GreenIT, a new joint venture for the development, construction and management of plants for the production of electrical power from renewable sources in Italy. GreenIT, 51% owned by Eni and 49% by CDP Equity, will produce energy mainly from photovoltaic and wind power …
TATNEFT Is an Active Participant in the UN Global Compact
On March 9, TATNEFT received the confirmation of the Company’s active status as a member of the UN Global Compact following the first-year results of joining the largest international initiative on the sustainable development. The Company’s actions to integrate 10 Principles and 17 Sustainable Development Goals into the Company’s activities, …
OPEC Daily Basket Price: Wednesday, 10 March 2021, Stood at $65.60 a Barrel
Vienna, Austria, 11 March 2021 – The price of OPEC basket of thirteen crudes stood at $65.60 a barrel on Wednesday, compared with $66.38 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), …
Verkhnechonskneftegaz Pumped 2.5 bcm of Associated Petroleum Gas into Underground Storage
The Verkhnechonskneftegaz company, which is part of the oil and gas production complex of NK Rosneft, has injected 2.5 billion m3 of associated petroleum gas (APG) into the underground gas storage since the start of the program for its rational use. The gas storage facility was commissioned in 2019. The development …
Orenburgneft Saved More Than 100 Million Rubles Due to an Increase in the Overhaul Period of Equipment Operation
JSC Orenburgneft, a subsidiary of Rosneft, in 2020 increased the overhaul period of the mechanized well stock to 825 days, which is 8.9% more than in 2019. The economic effect from the increase in the turnaround period for electric centrifugal and sucker rod pumps exceeded 111 million rubles. The introduction of …
Ruspetro: Moscow Court Declared the Oil Company Bankrupt
The Moscow Arbitration Court declared the oil company Ruspetro bankrupt and opened bankruptcy proceedings. Alexander Chistyakov is the chairman of the board of directors of the company. The initial bankruptcy procedure – observation – was introduced by the court against the Tax Code in July 2020 at the request of the …
LUKOIL Releases Financial Results Under IFRS for 2020
PJSC LUKOIL today released its audited consolidated financial statements for 2020 prepared in accordance with the International Financial Reporting Standards (IFRS). Financial highlights 4Q 2020 3Q 2020 12M 2020 12M 2019 (RUB bln) 1,530.3 1,456.7 Sales 5,639.4 7,841.2 189.6 202.2 EBITDA 687.1 1,236.2 29.4 50.4 Profit for the period attributable to shareholders 15.2 …