LUKOIL Begins Drilling New Production Wells at West Qurna-2
LUKOIL commenced drilling of new production wells at West Qurna-2 field as part of the second development phase. The company has so far concluded contracts to drill 57 production wells, including 54 wells at Mishrif formation and 3 wells at Yamama formation. The drilling campaign will ramp up production at …
OPEC Daily Basket Price: Wednesday, 6 February 2019, Stood at $62.30 a Barrel
Vienna, Austria, 7 February 2019–The price of OPEC basket of fourteen crudes stood at $62.30 a barrel on Wednesday, compared with $62.07 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), …
Gazprom Maintaining Effective Cost Optimization Efforts
The Gazprom Board of Directors took note of the information on the Gazprom Group’s cost optimization (reduction) efforts in 2018 and its priorities in this area for 2019. It was stressed that cost reduction was one of Gazprom’s key activities in boosting its operational and investment efficiency. Last year, as before, the Company followed its comprehensive approach to controlling cost growth rates. Gazprom …
Gazprom and Inter State Gas Systems sign Memorandum of Understanding
A Gazprom delegation headed by Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, paid a working visit to the Islamic Republic of Pakistan today. As part of the visit, Vitaly Markelov and Mobin Saulat, Managing Director of Inter State Gas Systems (Private) Ltd., signed a Memorandum of Understanding. The document, which serves as a follow-up to the Memorandum inked by the Ministry of Energy of the …
OPEC Daily Basket Price: Tuesday, 5 February 2019, Stood at $62.07 a Barrel
Vienna, Austria, 6 February 2019–The price of OPEC basket of fourteen crudes stood at $62.07 a barrel on Tuesday, compared with $62.32 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 …
OPEC Daily Basket Price: Monday, 4 February 2019, Stood at $62.32 a Barrel
Vienna, Austria, 5 February 2019–The price of OPEC basket of fourteen crudes stood at $62.32 a barrel on Monday, compared with $60.93 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 …
Rosneft: 2018 Operating Results – Production Up 1.8%
Upstream Hydrocarbon production amounted to 285.5 mln toe (5.80 mmboed) in 2018, exceeded 2017 levels by 1.3%. Q4 2018 hydrocarbon production amounted to 73.7 mln toe (5.94 mmboed), which exceeded the Q3 2018 result by 1.8%. The Company produced 230.2 mmt of liquid hydrocarbons (4.67 mmbpd) in 2018 increasing its …
Rosneft: 2018 Final Figures – Revenue Up 37% EBITDA Up 48.6%
Financial performance Revenues and equity share in profits of associates and joint ventures 12М 2018 revenue boosted by more than 1.4 times YoY up to RUB 8,238 bln (USD 133.7 bln) mainly due to favorable world price dynamics (+41.2% in RUB terms and 31.4% in USD terms) and growth of …
BP’s Fourth Quarter and Full Year 2018 Results and Strategy Update
BP’s full year results for 2018 show business momentum building with earnings more than doubling, returns nearly doubling, and reliability at record levels More than double full-year earnings, near double returns Underlying replacement cost profit for full year 2018 was $12.7 billion, more than double that reported for 2017. The fourth …
Uzbekneftegaz, Uzbekenergo and Uzbekgidroenergo Merged into Ministry of Energy
Deputy Prime Minister Alisher Sultanov will be in charge of the newly formed Ministry of Energy, to be created through the merger of Uzbekenergo, Uzbekneftegaz, and Uzbekgidroenergo. The new body will be in charge of the organization and regulation of the activities of the oil, gas and energy sectors. In …