Oil & Gas Operators

The 179th Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) was held via videoconference, on 06 June 2020, under the Chairmanship of its President, HE Mohamed Arkab, Minister of Energy of Algeria and Head of its Delegation. The Conference welcomed new ministers: HE Dr. Ali Haidar …

The 11th OPEC and non-OPEC Ministerial Meeting was held via videoconference, on Saturday, 06 June 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy, and co-Chair HE Alexander Novak, Minister of Energy of the Russian Federation. The Meeting recalled the rights of peoples and …

A double-bored multilateral well for developing Achimovsky strata — involving a construction unique to Russia — has been commissioned by Gazpromneft-Noyabrskneftegaz at its Vyngayakhinskoye field.* In line with international classifications, the well is deemed to have a “TAML-3” level of complexity.** The well’s construction means oil inflows can be double those achieved in single-barrel wells. Specialists based around the Bolshaya Achimovka project office, including …

The Bazhenov Technology Centre (a Gazprom Neft subsidiary) is preparing to commence development of Bazhenov Formation deposits at Salym-group license blocks in the Khanty-Mansi Autonomous Okrug-Yugra. Commercial production of non-conventional oil — of which reserves in place at the Salymsky-3 and Salymsky-5 blocks stand at more than 500 million tonnes of oil — is expected to start in 2025. Gazprom Neft has completed 3D-seismic investigations at the Salymsky-3 block, …

On June 5th Rosneft celebrates World Environment Day. One of the main priorities of the Company is environmental protection and development of environmental technologies. Over the past two years, Rosneft’s green investments amounted to 80 billion rubles. The funds were allocated for implementation of key projects related to the rational …

Vienna, Austria, 4 June 2020–The price of OPEC basket of thirteen crudes stood at $35.46 a barrel on Wednesday, compared with $34.95 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 (Congo), …

PJSC “LUKOIL” released its condensed interim consolidated financial statements for the three-month period ended March 31, 2020 prepared in accordance with International Financial Reporting Standards (IFRS). Financial Highlights 1Q 2020 4Q 2019   1Q 2020 1Q 2019 (RUB bln) 1,666.0 1,912.4 Sales 1,666.0 1,850.9 150.8 278.2 EBITDA 150.8 298.1 109.2 211.8 Exploration and production …

Gazprom and RusGazDobycha reached a final investment decision on the project for the development of the Semakovskoye gas field in the Yamal-Nenets Autonomous Area. The field, which is located in the waters of Taz Bay and partly on land in the Taz Peninsula, is classified as large: its recoverable gas reserves exceed 320 billion cubic meters. During the preparatory stage, the …

Vienna, Austria, 3 June 2020–The price of OPEC basket of thirteen crudes stood at $34.95 a barrel on Tuesday, compared with $33.68 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 (Congo), …

Russian oil and gas condensate production fell to 39.7 million tonnes (9.39 million barrels per day) in May, near its target under a deal within the OPEC+ group, Interfax news agency reported on Tuesday, citing energy ministry data. The figure was in line with data from sources, reported by Reuters …