NOVATEK Launches East-Urengoyskoye+North-Esetinskoye Field
PAO NOVATEK announced today that Arcticgas, a joint venture between NOVATEK and PAO Gazprom Neft, commenced commercial production at the East-Urengoyskoye+North-Esetinskoye field within the Samburgskiy license area, with estimated annual production capacity of more than one (1) billion cubic meters of natural gas and 0.2 million tons of gas condensate. …
NOVATEK: Q3 Results 2019 – Production Up 5.2% qoq
PAO NOVATEK reported today preliminary operating data for the third quarter and nine months 2019. In the third quarter 2019, NOVATEK’s hydrocarbon production totaled 145.2million barrels of oil equivalent (boe), including 18.31 billion cubic meters (bcm) of natural gas and 3,041 thousand tons of liquids (gas condensate and crude oil), …
OPEC Monthly Oil Market Report for October 2019
Crude Oil Price Movements The OPEC Reference Basket (ORB) rose $2.74, or 4.6%, month-on-month (m-o-m) in September to settle at $62.36/b, supported by concerns about supply disruptions and geopolitical risks. In September, ICE Brent averaged $2.79, or 4.7%, m-o-m higher at $62.29/b, while NYMEX WTI rose m-o-m by $2.12, or …
Verkhnechonskneftegaz to Produce Additional 221 Thousand Tonnes of Oil Due to Introduction of Enhanced Oil Recovery Method
Experts of Verkhnechonskneftegaz JSC, a subsidiary of Rosneft Oil Company, have successfully implemented a physical and chemical method of enhanced oil recovery and achieved a 54% increase in additional oil production using this technology in 2018 compared to 2017. The method feature is to redistribute the volume of injected water …
OPEC Daily Basket Price: Wednesday, 9 October 2019, Stood at $58.65 a Barrel
Vienna, Austria, 10 October 2019–The price of OPEC basket of fourteen crudes stood at $58.65 a barrel on Wednesday, compared with $58.53 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), …
OPEC Daily Basket Price: Tuesday, 8 October 2019, Stood at $58.53 a Barrel
Vienna, Austria, 9 October 2019–The price of OPEC basket of fourteen crudes stood at $58.53 a barrel on Tuesday, compared with $59.09 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), …
Sumatec’s Kazakhstan Oil Field Project is Terminated
Sumatec Resources Bhd has received a notice from CaspiOilGas LLP (COG), owned by its executive vice-chairman Tan Sri Halim Saad, terminating a joint investment agreement (JIA) for the Rakushechnoye oil field project in Kazakhstan. In its filing to Bursa Malaysia today, Sumatec said SOG received the termination notice effective October …
OPEC Daily Basket Price: Monday, 7 October 2019, Stood at $59.09 a Barrel
Vienna, Austria, 8 October 2019–The price of OPEC basket of fourteen crudes stood at $59.09 a barrel on Monday, compared with $58.59 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 …
Condor Receives CA$5.1 Million Deposit for the Shoba and Taskuduk Oilfields Sale
Condor Petroleum Inc. is pleased to announce that its wholly owned subsidiary, Falcon Oil & Gas Ltd has received the CA$5.1 million initial deposit (US$3.8 million at the current exchange rate of 1.33) as part of the overall CA$32.7 million total proceeds Falcon is to receive for the sale of …
BP Chief Executive Bob Dudley to Retire, to be Succeeded by Bernard Looney
The Board of BP announced today that, after a 40-year career with BP and over nine years as group chief executive, Bob Dudley, 64, has decided to step down as group chief executive and from the BP Board following delivery of the company’s 2019 full year results on 4 February 2020 and will retire …