Novak: Russia is Considering Accelerating the Launch of the Yuzhno-Kirinskoye Gas Condensate Field on the Sakhalin Shelf
The Vice Prime Minister noted that the priority goal is to develop gas supply to the Komsomolsk industrial hub and Vladivostok. Russia is considering accelerating the launch of the Yuzhno-Kirinskoye gas condensate field (GCF) on the Sakhalin shelf, Russian Deputy Prime Minister Alexander Novak wrote in an article for the …
Novak: Voluntary Decision to Reduce Oil Production will be Reviewed Monthly
The voluntary cut in oil exports from Russia by 300,000 barrels per day will be extended until the end of December 2023. This was stated by Deputy Prime Minister Alexander Novak. Thus, our country minimizes the risks of lower oil prices. According to the Deputy Prime Minister, the additional voluntary …
Samara Subsidiary of Rosneft Replenished Reserves by 246%
Samaraneftegaz discovered 20 new hydrocarbon deposits in the fields under development in 2022. The rate of production replenishment by the growth of oil reserves reached 246%. The Devon news agency learned about this from a message from the press service of Rosneft Oil Company. Last year, Samaraneftegaz drilled about 200,000 …
The Federal Property Management Agency Leased the Salym Well to RN-Yugansneftegaz
The annual user fee will be 4.17 million The Department of the Federal Property Management Agency for the Tyumen Region, Khanty-Mansi Autonomous Okrug and YaNAO held an auction to lease the federal property of the Salym oil well No. 145, located at the Salym field in the Nefteyugansk region. The …
Saudi Arabia Extends Oil Production Cut by 1 Million b/d Until the End of the Year
Prior to this, the voluntary reduction was calculated first for July, and then extended to August and September Saudi Arabia has decided to extend the voluntary cut in oil production by 1 million barrels per day (b / d) until the end of 2023. This was reported by the Saudi …
Germany Calls for Fracked Gas Production to Reduce Energy Prices
According to Clemens Fuest, head of the Munich Institute for Economic Research Ifo, “a decisive expansion of renewable energy sources is right, but not enough.” Leading German economists have proposed concrete steps to reduce energy prices. Thus, Clemens Fuest, head of the Ifo Institute for Economic Research in Munich, advocated …
Venezuela Cannot Service Its Oil Fields – no Funds
Due to problems in the preparation of extra-heavy Venezuelan oil for export, its volumes in August decreased by 38% compared to three-year figures for the same period. The state company PDVSA was unable to ensure the uninterrupted operation of facilities for the preparation of heavy oil produced in the Latin …
Brazilian Petrobras Announces New Upstream Policy
Brazil’s state oil company Petrobras said Monday it has decided to suspend the sale of some key assets. The oil giant said it would no longer sell the Uruk and Bahia Terra clusters, as well as the Manati oil field and its subsidiary Petrobras Operaciones in Argentina. The asset sale …
CNBC: ADNOC to Spend $1 Billion a Month on Fossil Fuels, According to Global Witness Research
CNBC has exclusively received a new analysis from Global Witness, an international non-governmental organization, that says UAE oil giant ADNOC, led by Sultan Al Jaber, who is also president of the COP28 climate conference, plans to spend an average of $1.14 billion a month just on oil production and gas …
Cumulative Oil Production of Samaraneftegaz Exceeded 1.3 Billion Tons
Samaraneftegaz (part of the Rosneft oil and gas production complex) has produced 1.3 billion tons of oil since the start of production in 1936. High production performance was achieved through the creation of a developed infrastructure for oil and gas production, the use of modern technologies, and the development of …