OPEC Daily Basket Price: Monday, 3 December 2018, Stood at $60.64 a Barrel
Vienna, Austria, 4 December 2018–The price of OPEC basket of fifteen crudes stood at $60.64 a barrel on Monday, compared with $58.33 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), Oriente (Ecuador), …
Rosneft and Chinese Hengli Group signed a Cooperation Agreement
Rosneft Oil Company and Chinese Hengli Group signed a cooperation agreement as part of the first Russian-Chinese energy business forum. The document was signed by Igor Sechin, Chief Executive Officer of Rosneft Oil Company, and Chen Jianhua, President of Hengli Group. The agreement provides for potential cooperation of the parties …
Igor Sechin meets with the First Vice Premier of the State Council of China
Igor Sechin, the Chief Executive Officer of Rosneft Oil Company and the Executive Secretary of the Presidential Commission for Strategic Development of the Fuel and Energy Sector and Environmental Security, held a meeting with the First Vice Premier of the State Council of the People’s Republic of China Han Zheng. …
Igor Sechin and CNPC Chairman Wang Yilin Hold Working Meeting
Igor Sechin, the Chief Executive Officer of Rosneft Oil Company, and Wang Yilin, the Chairman of the Board of the China National Petroleum Corporation (CNPC), held a working meeting during the first Russian-Chinese Energy Business Forum. The executives signed a science and technology Memorandum of Understanding (MoU). The MoU covers …
Rosneft and Beijing Gas Set Up a Joint Venture to Develop a Network of CNG Filling Stations
An agreement to set up a joint venture for construction and operation of a network of CNG stations in Russia on the basis of Vankor UTT was signed by Rosneft and Beijing Gas Group Company Limited (hereinafter, Beijing Gas) during the first Russian-Chinese Energy Business Forum. Under the agreement, Beijing …
Rosneft and ChemChina Sign an Oil Supply Contract
Rosneft and China National Chemical Corporation (ChemChina) signed an oil supply contract during the first Russian-Chinese Energy Business Forum. The contract provides for supplies of ESPO crude in the amount of up to 2.4 million tons through the Kozmino port for a year. Conclusion of the contract will lead to …
Caspian Sunrise: Spuds New Deep Well A8
The Board of Caspian Sunrise are pleased to provide the following update at its BNG Contract Area: Deep Wells – new wells A8 Caspian Sunrise is pleased to announce the spudding of a new deep well A8 within the Airshagyl field of the BNG contract area. It has reached a …
LUKOIL Announces IFRS Financial Results for the Third Quarter and Nine Months of 2018
PJSC LUKOIL today released its condensed interim consolidated financial statements as of and for the three and nine months ended 30 September 2018, prepared in accordance with International Financial Reporting Standards (IFRS). Financial highlights 3Q 2018 2Q 2018 9М 2018 9М 2017 (RUB bln) 2,305.9 2,056.1 Sales 5,992.7 4,274.3 321.8 295.2 EBITDA 836.5 …
Gazpromneft-Orenburg: Multi Story Wells and Fracs Increase Prodution by 40%
Gazpromneft-Orenburg (a subsidiary of Gazprom Neft) has commissioned the first high-tech well built using multi-storey drilling technology. This new approach makes it possible to increase initial production by more than 40 percent, as well as increasing surface efficiency (the “sweep ratio”) and development drilling efficiency. Constructed at the Vostochny licence block at the Orenburg oil and gas-condensate field (VU ONGKM), the …
RussNeft: Plans to Increase Oil Production in 2019 to 7.4 million tons
As the company notes, the Board of Directors of Russneft approved the company’s business plan for 2019. “The target production level approved in the business plan will be 7.355 million tons (excluding oil production in Azerbaijan),” the report said. Financing of capital investments is planned at the level of 28 …