JMMC Optimistic for Year of Recovery in 2021
The 26th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Wednesday, 3 February 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 Committee emphasized the …
Kazakhstan: Conveys Full Commitment to Compensate for Overproduced Volumes
Kazakhstan continues to demonstrate its full support for the decisions taken at OPEC and non-OPEC Ministerial Meetings (ONOMM), most recently the 13th ONOMM on 4/5 January 2021. Over past months, Kazakhstan has taken steps to not only realize full conformity to its production adjustment, but also to compensate for overproduced volumes. Its …
Rosneft: Mathematical Modeling Increases Samotlorneftegas’ Production by 1%
At the Samotlor field, Rosneft is successfully implementing innovative methods of integrated mathematical modeling for the integrated optimization of oil production at mature assets. The unique technology, tested at 515 wells of Samotlor, made it possible to increase oil production by 1% in 13 months. Digitalization in all areas of the …
NOVATEK Joins the Arctic Economic Council
PAO NOVATEK announced today that it has formally joined the Arctic Economic Council. The Arctic Economic Council (AEC) is an international business forum established in 2014 at the initiative of the Arctic Council in order to facilitate business-to-business activities and promote responsible economic development of the Arctic region. The AEC’s …
OPEC daily basket price stood at $56.80 a barrel Tuesday, 2 February 2021, compared with $55.13 the previous day
Vienna, Austria, 3 February 2021–The price of OPEC basket of thirteen crudes stood at $56.80 a barrel on Tuesday, compared with $55.13 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 …
Shell, C3 AI, Baker Hughes, and Microsoft Launch the Open AI Energy Initiative, an Ecosystem of AI Solutions to Help Transform the Energy Industry
Shell (NYSE:RDS), C3 AI (NYSE:AI), Baker Hughes (NYSE:BKR), and Microsoft (NASDAQ:MSFT) today announced the launch of the Open AI Energy Initiative™ (OAI), a first-of-its-kind open ecosystem of artificial intelligence (AI)-based solutions for the energy and process industries. The OAI provides a framework for energy operators, service providers, equipment providers, and independent software vendors for energy services …
TATNEFT: Among Leaders of the Global Climate Agenda
TATNEFT has joined the international SBTi (Science Based Targets initiative) initiative on the platform of “Ambitious corporate actions to prevent the over temperature occurrence above 1.5 degrees Centigrade” (Business Ambition for 1.5 C). The Company will develop and adopt science-based targets with regard to reducing greenhouse gas emissions and decarbonization in …
Tatneft: Operational and Production Figures for Jan 2021
Crude Oil Production Enterprises of the TATNEFT Group of Companies produced 2,202 thousand tonnes of crude oil in January which was 298 thousand tonnes less than during the same period in 2020. PJSC TATNEFT’s production volume amounted to 2,176 thousand tonnes of crude oil in January (-295 thousand tonnes versus …
PetroNeft Respurces: Acquisition of Additional 40% Interest in Licence 67 and Director Appointment
PetroNeft an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licenses 61 and 67, is pleased to provide the following update: Highlights Execution of Sales Purchase Agreement to acquire an additional 40% interest in Licence 67. Alastair McBain …
OPEC Daily Basket Price Stood at $54.41 a Barrel Friday, 29 January 2021, Compared with $54.36 the Previous Week
Vienna, Austria, 1 February 2021–The price of OPEC basket of thirteen crudes stood at $54.41 a barrel on Friday, compared with $54.36 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), …