Igor Sechin: Supply and Demand to Converge by the End of 2016
The head of Rosneft, the Kremlin-controlled oil company, has blamed ‘robot’ traders and producers in the Middle East and US for crushing oil prices, in a sign Moscow is unlikely to back calls for coordinated output cuts with OPEC. Igor Sechin, the close ally of president Vladimir Putin and Rosneft …
Petrosibir: January 2016 Production – 41,130 Barrels
Petrosibir’s total oil production in January 2016 amounted to 41,130 barrels, equivalent to 1,327 barrels per day. The table below summarizes the production broken down by region. Petrosibir owns 100% of the Russian company Ingeo Holding, which holds a production license in Bashkiria. Petrosibir also owns 49% of the Cypriot …
Gazprom Neft: First Project Studying The Bazhenov Formation at the Vyngayakhinskoye Field
Gazprom Neft has begun investigating reserves at the Bazhenov formation* at Vyngayakhinskoye field, Yamalo-Nenets Autonomous Okrug (a project currently being implemented by Gazpromneft-Muravlenko). Marking the company’s first foray into the investigation of unconventional reserves (a category that includes the Bazhenov formation) Gazprom Neft has, hitherto, been concentrating on identifying the …
BP Energy Outlook: Transition to a lower carbon future
Despite current weakness in global energy markets and the slowdown in China’s growth, demand for energy will continue to grow over the next 20 years and beyond as the world economy expands and more energy is required to power the higher level of activity. According to the 2016 edition of …
Platts: Sanctions Not Affecting Russia As Deeply As Planned – Drilling Volumes Up Significantly
International sanctions against Russia introduced in 2014 turned out not to be the bogeyman they first seemed to be, and could in fact have played a key role in helping the Russian oil sector to not only handle the sharp price drop over the last year and a half, but …
Exillon Energy: January Average Daily Production at 15,094 bbl/day
Exillon Energy plc, a London Premium listed oil producer with assets in two oil-rich regions of Russia, Timan-Pechora (“Exillon TP”) and West Siberia (“Exillon WS”), is pleased to announce unaudited production data for the month of January 2016 (“the Period”). · Our average daily production[1] was 15,094 bbl/day during the …
Lukoil: Proven Reserves Affected By Lower Oil Price
PJSC LUKOIL finished an evaluation and independent audit of its oil and gas reserves as of December 31, 2015. The evaluation was performed in accordance with the US Securities and Exchange Commission (SEC) standards until the economic limit of commercial production is reached. The audit results by Miller and Lents, …
Surgutneftegas: January Production up 10.5% Yoy
In January 2016, Surgutneftegas produced 5,209.7 thousand tonnes of crude oil. Within the first month of the current year crude output in the Republic of Sakha (Yakutia) reached 727.2 thousand tonnes, a 10.5% increase from January last year. In January 2016, gas production in Surgutneftegas amounted to 833.8 million cubic …
Rosneft and Statoil Commence Well Testing at the North-Komsomolskoye Field
Rosneft and Statoil commenced testing of two production wells of highly viscous oil of the PK1 layer of the North-Komsomolskoye field. The companies are implementing pilot operation of the horizontal wells constructed using best practices related to inflow control and consolidation of entrained solids. Average starting flowrate amounts to75 t …
Tethys Petroleum: Olisol Petroleum – Funding Update
Tethys Petroleum Limited today provided an update on the previously announced US$15 million convertible debt facility with Olisol Petroleum Limited, a wholly owned subsidiary of Olisol Investments Limited (together with OPL, “Olisol”). Following the Company’s announcement on 22nd January 2016, Tethys received a further US$1 million on January 28th, 2016. …