MOL GROUP Russia: Implementing the ‘Technical Limit’ System to Improve Efficiency in Workover Operations
Russian oil and gas companies have been implementing the Technical Limit methodology for about 10 years to improve the efficiency of various operational stages of well construction and workover, from drilling to production. Gazprom Neft has already written about their experiences of implementing this solution to improve their efficiency within …
MOL Group 3rd Quarter EBITDA Bounced Back Despite the Crisis, Challenges Ahead
Today, MOL Group announced its financial results for the third quarter of 2020. During the pandemic and economic crises, Clean CCS EBITDA strongly rebounded from the Q2 lows and came in at USD 610mn in Q3 2020, only 12% lower than in the same period last year. This result brought …
OPEC Holds 4th High-Level Meeting of the OPEC-India Dialogue
The OPEC Secretariat hosted the 4th High-Level Meeting of the OPEC-India Dialogue on 05 November 2020 via videoconference. The Meeting was co-chaired by HE Mohammad Sanusi Barkindo, Secretary General of OPEC and HE the Honourable Dharmendra Pradhan, India’s Minister of Petroleum and Natural Gas and Minister of Steel. The meeting …
OPEC, GECF Hold First High-Level Meeting
Representing the lifeblood of global economy, two of the world’s foremost energy organisations OPEC and the Gas Exporting Countries Forum (GECF) held their first high-level meeting today, highlighting the growing cooperation between the two organisations under the framework of the OPEC-GECF Energy Dialogue. The OPEC delegation was led by HE …
Collaboration, Partnership, and Transformation. The Caspian Oil and Gas Industry Goes Through Major Change, as Region’s Technical Oil and Gas Conference Goes Online
The largest Caspian oil and gas event came to a close today after going online for the first time in its history. The Caspian oil and gas industry has demonstrated resilience to overcoming low oil prices, the COVID-19 crisis and technological challenges by transforming them into sustainable opportunities. The special …
JMMC Priority is Full Conformity by all DoC Members
The 23rd Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Monday, 19 October 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy, and Co-Chair HE Alexander Novak, Minister of Energy of the Russian Federation. The Committee expressed its …
After COVID-19: Wintershall Dea Will Rely Globally on Mobile and Flexible Working
Wintershall Dea will establish mobile working as standard practice even after the pandemic. “We aim to achieve a mix, a hybrid working model, for when the pandemic is over. We call it Flex Forward at Wintershall Dea,” says Mario Mehren, CEO of Wintershall Dea, Europe’s leading independent gas and oil …
LUKOIL Board of Directors Recaps 2020 Mid-Year Performance
At today’s meeting of LUKOIL Board of Directors in Moscow the members of the Board reviewed the Company’s performance in the first half of 2020, budget execution and progress on the investment plan. The Directors noted that amid the COVID-19 pandemic and a slump in hydrocarbon demand and prices the …
JMMC Reiterates the Importance of Attaining Full Conformity for Market Stability
The 21st Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Wednesday 19 August 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy, and Co-Chair HE Alexander Novak, Minister of Energy of the Russian Federation. The Committee reviewed the …
KPO Reports Half-Year Performance Results
Karachaganak Petroleum Operating B.V. (KPO) announced its performance results for the first half-year period. Over this period KPO produced more than 75 million barrels of oil equivalent of stable and unstable liquid hydrocarbons, export raw gas and sweet fuel gas. Moreover, 5 billion cubic metres of raw gas was re-injected …