OPEC Daily Basket Price Stood at $34.71 a Barrel Monday, 9 March 2020
Vienna, Austria, 10 March 2020—The price of OPEC basket of fourteen crudes stood at $34.71 a barrel on Monday, compared with $48.33 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), …
Oil Suffers Rout after Saudi Arabia Fires First Shot of Price War
Losing more than a quarter of their value, oil prices were set on Monday for their biggest daily rout since the first Gulf War, after Saudi Arabia cut its official prices in a market already reeling from the impact of the coronavirus on global demand. Saudi Arabia slashed its official …
PetroChina Suspends Some Gas Contracts as Coronavirus Hits Demand-Sources
PetroChina has suspended some natural gas imports, including on liquefied natural gas (LNG) shipments and on gas imported via pipelines, as a seasonal plunge in demand adds to the impact on consumption from the coronavirus outbreak. The company issued the force majeure notice to suppliers of piped gas and also …
Annual Oil Production Up 22% at Messoyakhaneftegaz
Messoyakhaneftegaz, the Gazprom Neft—Rosneft joint venture, delivered total production of more than 5.6 million tonnes of oil equivalent (mtoe) as at year-end 2019 — a 22-percent increase on 2018. Production at the Vostochno-Messoyakhskoye field (in the Gydan Peninsula, Yamalo-Nenets Autonomous Okrug) reached more than 16,000 tonnes of oil per day. …
Gazprom Neft Board of Directors appoints Pavel Kolobkov Deputy CEO for Federal Government Relations
The Gazprom Neft Board of Directors has appointed Pavel Kolobkov a member of the company’s Management Board, and Deputy CEO for Federal Government Relations. Mr Kolobkov will be responsible for managing the company’s engagement and liaison with Russian government ministries and agencies. Pavel Anatolyevich Kolovkov was born in Moscow on 22 September 1969. He graduated from the Russian State …
Rosneft Joins ‘Methane Guiding Principles’ Round Table
Eric Liron, Rosneft’s Vice President for In-House Services, joined the annual round-table meeting of members of the international initiative the Methane Guiding Principles. The meeting of executives from more than 20 signatory oil and gas companies was held in London. The Methane Guiding Principles is a voluntary, international multi-stakeholder partnership …
Exillon Energy: January Production Report
4 March 2020 – Exillon Energy plc (“Exillon Energy”, the “Company” or the “Group”) (EXI.LN), a London Premium listed oil producer with assets in two oil-rich regions of Russia, Timan-Pechora (“Exillon TP”) and West Siberia (“Exillon WS”), is pleased to announce unaudited production data for the month of January 2020 (“the Period”). · Our average …
OPEC Daily Basket Price Stood at $51.65 a Barrel Monday, 2 March 2020
Vienna, Austria, 3 March 2020—The price of OPEC basket of fourteen crudes stood at $51.65 a barrel on Monday, compared with $50.16 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), …
Advancing Energy: Ambition Launch Response ̶ Trust and Trade Associations ̶ Low Carbon Pioneers
We announced this week that we would withdraw from three trade associations over climate change differences, citing our support of the Paris Agreement goals and net zero ambition as reasons for the decision. Why now? BP’s in-depth review of the policies held by 30 key trade associations comes a few …
OPEC’s Oil Cut Proposal Enough to Push Prices Back to $60/bbl -Russia’s LUKOIL
OPEC’s proposal to cut oil production by up to 1 million barrels per day would be enough to balance the market and lift oil prices back to $60 a barrel, Leonid Fedun, vice-president of Russia’s second-biggest oil producer Lukoil, told Reuters. Fedun’s comments suggest Russia may be willing to agree …