The Islamic Republic of Iran Is Ready to Increase Oil Production to the 2015 Level If Sanctions Are Lifted
The Ministry of Petroleum of the Islamic Republic of Iran has announced that Tehran is ready to quickly return to its 2015 oil production levels if international sanctions imposed on its oil sector are lifted. The ministry clarified that Iran possesses the full technical capacity to bring its currently idled …
World Bank Names 2023 Gas Flaring Rates as Worst in Five Years
Russia named leader in flaring, rates increased in all regions amid declining production. In 2023, associated petroleum gas (APG) flaring rates increased significantly and became the worst in five years, according to the World Bank report. In general, the volume of flared gas increased by 9 billion cubic meters, or …
CNOOC Puts Wushi 23-5 Oil Field Into Operation
Chinese oil and gas giant China National Offshore Oil Corporation (CNOOC) has put the Wushi 23-5 oil field in the South China Sea into operation. This was reported by the company’s press service. Wushi 23-5 The company notes that this project is the first full-scale oil field of “green” design …
In 2023 Oil Companies Burned 148 Billion Cubic Meters of Gas During Oil Production
Oil companies around the world burned the most APG in five years in 2023, according to a World Bank report. We are talking about 148 billion cubic meters, which is 7% more than in 2022, despite the fact that crude oil production increased by only 1% last year. Increases in …
The US Shale Industry is Burning More and More APG
Oil producers in Texas are trying to get rid of excess natural gas by flaring it. Regulator The Railroad Commission of Texas (RRC) last week approved 21 requests from operators, mostly in the Permian and Eagle Ford shale plays, for exemptions from the flaring ban. Moreover, the requested combustion volumes …
The US Shale Industry is Burning More and More APG
Texas oil producers are trying to get rid of excess natural gas by flaring it. Regulator The Railroad Commission of Texas (RRC) last week approved 21 requests from operators, mostly in the Permian and Eagle Ford shale plays, for exemptions from the flaring ban. Moreover, the requested combustion volumes are …
Gas Production in Russia Fell by 11.4 Percent in January-September
Gas production in Russia in January-September decreased by 11.4% compared to the same period last year – to 380 billion cubic meters, in September – increased by 1.5%, to 39.8 billion cubic meters, Rosstat reported. “39.8 billion cubic meters of combustible natural gas were produced, which is 1.5% more than …
LPG Exports are Declining, Associated Gas Flaring is Growing
The Ministry of Energy and the Ministry of Natural Resources are ready to return to discussing the deferment from paying increased fines for excess flaring of associated petroleum gas (APG) only at the beginning of 2023. This was reported by Kommersant. The law allows flaring only 5% of APG production. …
Rosneft Increases Gas Production at the Suzunskoye Field
RN-Vankor (part of Rosneft) has started natural gas production at the new well pad at the Suzunskoye field as part of the Vostok Oil project. The daily production volume is about 1.8 million m3 of gas. The produced gas, after the necessary preparation, is sent via an inter-field gas pipeline …
Samotlorneftegaz Increased the Level of Rational Use of Associated Petroleum Gas to 99%
Samotlorneftegaz, which produces an asset of NK Rosneft, in 2022 brought the level of useful use of associated petroleum gas to a historical maximum of 99%. This is one of the best indicators in the industry. Increasing the efficiency of production assets is one of the key elements of the …