Oil & Gas Operators

Hungarian energy firm MOL MOLB.BU is in talks to acquire Chevron’s (CVX.N) stake in a giant oilfield in Azerbaijan for more than $2 billion, according to three banking and industry sources involved in the process. Both Chevron and its larger U.S. rival Exxon Mobil (XOM.N) are seeking to sell their …

Vienna, Austria, 29 October 2019–The price of OPEC basket of fourteen crudes stood at $61.65 a barrel on Monday, compared with $62.16 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 …

3Q in detail Financial results Underlying replacement cost profit for the third quarter of 2019 was $2.3 billion, compared to $3.8 billion a year earlier. The result was impacted by significantly lower Upstream earnings, resulting from lower prices, maintenance and weather impacts.  A divestment-related, non-cash, non-operating after-tax charge of $2.6 …

National Oilwell Varco, Inc. (NYSE: NOV) today reported third quarter 2019 revenues of $2.13 billion, compared to $2.13 billion for the second quarter of 2019 and $2.15 billion for the third quarter of 2018. Net loss for the third quarter of 2019 was $244 million, which included non-cash, pre-tax charges (“other items”, see Other Corporate Items for …

Vienna, Austria, 28 October 2019–The price of OPEC basket of fourteen crudes stood at $62.16 a barrel on Friday, compared with $61.63 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 …

The enterprises exchanged the experience in the design engineering and management of the internal industrial processes’ operation. In the process of the round table employees of LUKOIL-Engineering shared their best practices on the areas of interest for TATNEFT Company. The meeting participants discussed issues relating to the scope of work …

A new record in well-drilling at Gazprom Neft has been set at the company’s Novoportovskoye field, with a 1,000-metre horizontal shaft being covered in just under three days (2.93 days or 70 hours and 33 minutes). This result was achieved by using an experimental drill bit,* the design of which had been specially fine-tuned by domestic producers for drilling in permafrost, with equipment having been …

Vienna, Austria, 25 October 2019–The price of OPEC basket of fourteen crudes stood at $61.63 a barrel on Thursday, compared with $60.42 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 …

Eni formally committed today not to perform oil and gas exploration and development activities within the boundaries of Natural Sites included in the UNESCO World Heritage List. The commitment gives official recognition to a policy that Eni is already following in its operations. It is another important step in the …

President of PJSC LUKOIL Vagit Alekperov and Nigerian National Petroleum Corporation (NNPC) Group Managing Director Mele K Kyari signed a Memorandum of Understanding between the companies. Memorandum was signed today at the Russia-Africa economic forum in Sochi. According to the Memorandum, the parties intend to consider possible cooperation in the …