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 …
The Number of Oil and Gas Rigs in the World in August Fell for the First Time in 3 Months
In August 2023, the number of active oil and gas rigs worldwide fell in August for the first time in three months, according to US oilfield services company Baker Hughes. On average, last month there were 1,788 installations in the world compared to 1,820 in July. At the same time, …
Sinopec Discovers Gas Field in China’s Sichuan
Sinopec discovers a new field in Bazhong County with over 30 billion cubic meters of shale gas reserves Chinese state-owned oil and gas company Sinopec has discovered a new field in Sichuan province. The Bazhong field is located in the northeastern part of the province, and is considered the third …
Eni to Continue Operating FPSO Abo Offshore Nigeria
Nigerian Agip Exploration (NAE, a subsidiary of Italy’s Eni) has reached an agreement with BW Offshore to extend the lease of a floating oil and gas production, storage and offloading (FPSO) facility operating in a field off the Nigerian continental shelf. This was reported by the press service of BW …