A Star is Born: OPEC Bulletin Commentary August-September 2020
In the heart of the Middle East in the land of ancient Mesopotamia, with two great rivers spanning its length — the Euphrates and Tigris — lies Iraq. By these two waters, the earliest civilization was born. What better place for a new idea to take root then near historic …
OPEC Daily Basket Price: Monday, 14 September 2020, Stood at $38.96 a Barrel
Vienna, Austria, 15 September 2020 – The price of OPEC basket of thirteen crudes stood at $38.96 a barrel on Monday, compared with $39.37 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), …
bp and Microsoft Form Strategic Partnership to Drive Digital Energy Innovation and Advance Net Zero Goals
bp and Microsoft Corp. today announced that they have agreed to collaborate as strategic partners to further digital transformation in energy systems and advance the net zero carbon goals of both companies. This includes a co-innovation effort focused on digital solutions, the continued use of Microsoft Azure as a cloud-based …
OPEC’s 60th Anniversary Goodwill Message
The Fourteenth of September 2020 is a very special day for OPEC. This sees the Organization celebrate its 60th anniversary. Few would have foreseen six decades ago that the Organization would have risen to the heights it has today in the global energy arena. Back then in Baghdad, the five …
OPEC Monthly Oil Market Report, August 2020
Crude Oil Price Movements Crude oil spot prices extended gains in August, reaching a six-month high. The OPEC Reference Basket (ORB) value rose in August, increasing more than other spot references. On a monthly basis, the ORB increased by $1.77 to $45.19/b, up by 4.1%. Crude oil futures prices rose …
ROSGEO’s Subsidiary Has Completed the Works Under a Large-scale Project in Indonesia
Yuzhmorgeologiya JSC (a subsidiary of Rosgeo), jointly with an Indonesian company Elnusa TBK, has successfully completed the field operations under a large-scale project on the geophysical surveys of the geological structure at the continental shelf in the Republic of Indonesia following the contract with the state oil company Pertamina. The …
Gazprom Management Committee Endorses Revised Investment Program and Budget for 2020
The Gazprom Management Committee endorsed the revised drafts of the investment program and budget (financial plan) for 2020. As per the revised investment program for 2020, the overall amount of investments will stand at RUB 922.489 billion, which is RUB 182.235 billion less than was envisaged in the investment program approved in December 2019. Of that amount, RUB 720.674 billion (down by RUB 212.729 billion) …
Gazprom Ramping up Capacities of Chayandinskoye Field
The Gazprom Management Committee took note of the information about the implementation of major investment projects. In the east of Russia, the systematic expansion of production capacities continues at the Chayandinskoye field in Yakutia. In 2020, it is planned to bring onstream 103 gas wells, a gas pre-treatment unit (GPTU-2), and a membrane unit for helium concentrate extraction. Moreover, capacity increase will be finished at the operating comprehensive gas treatment …
bp Energy Outlook for 2020
The 2020 edition of the bp Energy Outlook explores possible paths for the global energy transition, how global energy markets may evolve over the next thirty years and the key uncertainties that may shape them. Looking out to 2050 – a decade further than in previous editions – the Outlook …
Eni, Agi S.p.A Board of Directors’ Members and Top Management Appointed: Lucia Calvosa as Chairman, Giuseppe Macchia as CEO
The Agi S.p.A. Shareholders’ Meeting concluded that the Board of Directors will be comprised of 6 members, each of which will remain in office for three years. Agi S.p.A. Shareholders’ Meeting appointed Lucia Calvosa, Giuseppe Macchia, Cristiana Argentino, Marco Bardazzi, Claudio Granata and Anna Elisa Messa as Board Directors, while …