Gazprom and Schneider Electric: Sign Scientific & Technical Cooperation and Partnership Agreement
Oleg Aksyutin, Member of the Management Committee, Head of Department of Gazprom, and Clemens Blum, Executive Vice President of Industry Business of Schneider Electric, signed the 2017–2019 Program for scientific & technical cooperation and partnership at the Gazprom headquarters today. Pursuant to the Program, the companies will cooperate in the following areas: development and introduction of smart technologies into …
Rosneft: Glencore and Qatar Buy 19.5%, $11bn Stake
Commodity trader Glencore Plc and Qatar’s sovereign wealth fund agreed to buy a 10.2-billion euro ($11 billion) stake in Russia’s largest oil producer from the state in a triumph for President Vladimir Putin over sanctions imposed by the West. Glencore, Qatar state fund to split 19.5% stake in Rosneft Deal …
Surgutneftegas: 10 Month Operating Figures
In January-October 2016, Surgutneftegas produced about 51,408.8 thousand tonnes of crude oil. For the year to date, crude output in the Republic of Sakha (Yakutia) equaled 7,396.5 thousand tonnes, 5.5% up versus ten months of the last year. In January-October 2016, gas production in Surgutneftegas amounted to 8,006.3 million cubic …
JSC KazMunaiGas: Resolutions of the Meeting of the Board of Directors
JSC KazMunaiGas Exploration Production (“KMG EP” or the “Company”) held its regular Board of Directors (“the Board”) meeting, where the Board approved a revision of the 2016 capital expenditures plan. As previously announced, the Company started construction of a gas treatment unit (GTU) for the Prorva group of fields at …
Gazprom CEO, Alexei Miller, meets with Eni CEO Claudio Descalzi in St. Petersburg
The Chief Executive of Gazprom, Alexei Miller today met with Eni CEO Claudio Descalzi. During the meeting, they discussed the dynamics of Italy’s gas market and the prospects of Italian and European gas supply from Russia, also from alternative sources. The two companies also confirmed their continued close partnership in …
Oil Jumps Over 10 Percent as OPEC Finalizes Output Cut Deal
By Jessica Resnick-Ault | NEW YORK Oil soared more than 10 percent on Wednesday to over $50 a barrel and its highest in a month as some of the world’s largest producers agreed to curb production for the first time since 2008 in a bid to support prices. Crude prices rose nearly 5 percent …
The Paris Court of Appeals Confirms Ordering Ukraine to Pay $112 Million, Plus Interest, to Tatneft
In 2010, the arbitral tribunal unanimously found that it had jurisdiction over the dispute. In 2014, the arbitral tribunal found in favor of Tatneft, and ordered the Republic of Ukraine to pay to Tatneft damages in the amount of $112 million, plus interest. Later that year, Ukraine commenced proceedings before …
OPEC: Russia Offering To Freeze Not Cut Production
Facing pressure from OPEC to make a significant output reduction, Russia reiterated its readiness to freeze oil production at current levels, arguing that the offer amounted to a cut compared with next year’s plans. Freeze means 2017 Russian output would be less than planned OPEC asked non-members to cut 500,000 …
Gazprom: Abundant Gas Reserves With Well Developed Production and Transportation Infrastuctrure Under Pin Export Business
The Gazprom Board of Directors took note of the information about the pricing of natural gas exports. It was highlighted that abundant gas reserves coupled with well-developed production and transportation infrastructure underpinned the stability of Gazprom’s export business. Reliable gas supplies to European consumers are based on the system of long-term contracts. In order to make Russian gas more competitive, …
LUKoil: Completes Third Well on the Vladimir Filanovsky Field
LUKOIL has successfully completed drilling of the third well at offshore Vladimir Filanovsky field in the Caspian Sea. The horizontal section of the well is 1,217 meters long. The well flow is around 3,000 tons of crude oil per day. The field’s total oil production currently amounts to approximately 9,000 …