OPEC Daily Basket Price Stood at $29.03 a Barrel Wednesday, 27 May 2020
Vienna, Austria, 28 May 2020–The price of OPEC basket of thirteen crudes stood at $29.03 a barrel on Wednesday, compared with $29.75 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), …
NOVATEK-Murmansk Signed Agreement with Far East Development Corporation
PAO NOVATEK announced today that OOO NOVATEK-Murmansk, a wholly owned subsidiary, and the Far East Development Corporation signed an Agreement on operating in the territory of the Advanced Special Economic Zone (ASEZ) “Capital of the Arctic” (hereinafter “the Agreement”). According to the Agreement, OOO NOVATEK-Murmansk will obtain resident status at …
OPEC Daily Basket Price: Tuesday, 26 May 2020, Stood at $29.75 a Barrel
Vienna, Austria, 27 May 2020–The price of OPEC basket of thirteen crudes stood at $29.75 a barrel on Tuesday, compared with $28.06 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), Girassol (Angola), Djeno (Congo), …
RDCR 2020 – The Official “Back 2 Business” Conference for the Russian Drilling & Production Sector
The global economy is currently facing an unprecedented challenge, and the hydrocarbon industry is reeling from low oil prices. Due to the COVID-19 pandemic, industry events around the world are being cancelled or postponed until 2021. All of us have had to adapt to new ways of working and gathering …
Spain’s Repsol Pulls Out of Planned Arctic JV in Russia
Spain’s Repsol has pulled out of a planned joint venture to develop two Arctic oil blocks with Russia’s Gazprom Neft and Royal Dutch Shell, a spokesman at Repsol said on Friday. Gazprom Neft, the oil arm of Russian gas giant Gazprom, Repsol and Shell signed a memorandum of understanding last …
LUKOIL Installs Accommodation Platform Jacket at V.I. Grayfer Field
LUKOIL completed installation of a jacket for an accommodation platform topside at the V.I. Grayfer field in the Caspian Sea. The offshore operations involved 110 workers and nine vessels. The facility was brought to the offshore installation site via the Volga-Caspian Shipping Canal. After the floatover and grounding, the substructures …
Rosneft Reduces Fugitive Methane Emissions in Exploration and Production by 73% in 2019
Rosneft reduced fugitive methane1 emissions in the Upstream sector by 73% in 2019 as a result of a comprehensive programme of process improvements and methane emission reduction initiatives. Maximizing emissions reductions is a key element of the Rosneft-2022 Strategy. The Company intends to take a leading position in terms of environmental …
TATNEFT Is Among the Top Ten Oil and Gas Industry World Leaders by the Increase in the Shareholder Value
TATNEFT is ranking in the third place among the TOP-10 of the BCG’s global industry value rating for the shareholders. PJSC TATNEFT has taken the third position among the leading oil companies with high capitalization level in terms of the weighted average Total Shareholder Return (TSR – 38%) in the …
LUKOIL Reports Preliminary Operating Data for the First Quarter of 2020
In the first quarter of 2020 LUKOIL Group’s average daily hydrocarbon production excluding the West Qurna-2 project totaled 2,328 thousand boe per day, which is 2.1% lower year-on-year and 2.5% lower quarter-on-quarter. The decline in production was driven by lower gas supply to China from projects in Uzbekistan due to …
Rosneft: Q1 2020 Operating Results – Production Down 1% qoq
AVERAGE DAILY HYDROCARBON PRODUCTION AMOUNTED TO 5.75 MMBOE LIQUID HYDROCARBONS PRODUCTION AMOUNTED TO 4.64 MMBPD UNDER OPEC+ AGREEMENT GAS PRODUCTION CONSTITUTED 16.63 BCM PROGRESS IN THE DEVELOPMENT OF KEY PRODUCTION ASSETS WITH EMPHASIS ON NEW TECHNOLOGIES IMPLEMENTATION REFINING THROUGHPUT AT THE COMPANY’S REFINERIES AMOUNTED TO 28.7 MMT, INCREASING BY 1.4% …