OPEC Daily Basket Price: 14 December 2018, Stood at $59.07 a Barrel Friday
Vienna, Austria, 17 December 2018–The price of OPEC basket of fifteen crudes stood at $59.07 a barrel on Friday, compared with $58.67 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 and Itochu Sign Memorandum of Understanding on Baltic LNG Project
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Yoshihisa Suzuki, President and Chief Operating Officer of Itochu Corporation, took place in St. Petersburg today. In the course of the meeting, Gazprom and Itochu Corporation signed a Memorandum of Understanding on the Baltic LNG project. With this document, the parties confirmed their interest in potential cooperation in the framework of the …
Russia has Highest Capex on Crude and Natural Gas Projects in Former Soviet Union Over Next Seven Years
Russia accounts for more than 90% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the Former Soviet Union (FSU) over the period 2018–2025, according to GlobalData, a leading data and analytics company. The company’s report: ‘H2 2018 Production and Capital Expenditure Outlook …
Shell Says Talks Over Gazprom Asset Swap Suspended
Talks about a possible asset swap deal between Royal Dutch Shell and Gazprom have been suspended, Kommersant business daily reported on Wednesday, citing Cederic Cremers, head of Shell’s business in Russia. The memorandum on the possible asset swap was signed in 2015 and was seen as a coup for Gazprom …
Chevron Boosts Spending 9% with Focus on Permian, Kazakhstan
Chevron said Thursday it will hike its 2019 capital spending by 9 percent up to $20 billion with major focuses on West Texas’ booming Permian Basin and the massive Tengiz oil field in Kazakhstan. The spending increase comes despite oil prices falling by more than 30 percent since early October …
Chevron to Quit Caspian Field
US major Chevron has told Azeri state-run Socar and PB, operator of the Azeri-Chirag-Guneshli block, that it plans to leave this project in order to focus on its other businesses, an Azerbaijan government source told NGW December 5. Reuters cited industrial sources December 4, who said that both Chevron and Exxon Mobil are seeking to sell …
ConocoPhillips Announces 2019 Capital Budget and Operating Plan; Recent Oil Price Volatility Highlights Investment Appeal of Company’s Differentiated Value Proposition
ConocoPhillips today announced its 2019 capital expenditure budget and operating plan. The operating plan reflects the company’s ongoing commitment to free cash flow generation, differentiated payout to shareholders and superior financial returns through business cycles. The 2019 operating plan is expected to continue driving underlying improvement in return on capital …
Urals Energy: Kononov Calling AGM to Replace Board?
The board of directors of Urals Energy (the “Board”), the independent exploration and production company with operations in Russia, announces that the Company has received a letter from Adler Impex S.A. (the “Requisitioner”) regarding a purported requisition for Urals Energy to convene an extraordinary general meeting of the Company (the …
Yamal LNG: Reaches Full Production Capacity
PAO NOVATEK announced today that its joint venture Yamal LNG has reached full capacity at the plant’s three LNG trains. The Yamal LNG project was implemented in record time and on budget with the launches of the second and third trains made ahead of schedule by six months and more …
OPEC Daily Basket Price: Wednesday, 5 December 2018, Stood at $60.08 a Barrel
Vienna, Austria, 6 December 2018–The price of OPEC basket of fifteen crudes stood at $60.08 a barrel on Wednesday, compared with $61.09 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), Oriente …