Tengizchevroil: Looking For $37bn of Finance for Planed Tengiz Extension
Tengizchevroil, a Chevron-led joint venture and Kazakhstan’s No.1 oil producer, may take out loans and issue bonds to finance its $37 billion plan to expand production, an official at state oil firm KazMunayGaz said on Thursday. KazMunayGaz also holds a stake in Tengizchevroil. “There are different scenarios, but we think …
ExxonMobil: Reserve Replacement Under 100% for the First Time in 22 Years – Due to Falling Oil Price
ExxonMobil Corp. failed to replace all of the oil and natural gas it pumped last year with new discoveries and acquisitions for the first time in more than two decades. Exxon’s so-called reserve-replacement ratio fell to 67% in 2015, the Irving, Texas-based company said in a statement on Friday. Prior …
ExxonMobil: Closes Azeri Office Linked to Araz-Alov-Sharg Oilfield Projects Due to Delays
U.S. energy company ExxonMobil has closed one of its offices in Azerbaijan, the country’s tax ministry said on Wednesday, the result of a delayed oil project. The office was linked to an oil production project on the Araz-Alov-Sharg oilfields in the Caspian Sea. The project is frozen until a decision …
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 …
RN-Exploration and ExxonMobil Declared Winners of the Mozambique License Round
RN-Exploration (100% Rosneft subsidiary) and ExxonMobil Exploration and Production Mozambique Offshore Limited were declared winners for 3 blocks in the fifth license round organized by the Republic of Mozambique Institute of National Petroleum (Instituto Nacional de Petróleo). The global partnership of Rosneft and ExxonMobil is of a strategic nature, the …
SPE Annual Caspian Technical Conference and Exhibition: High Level Panel Target Hot Topics
This year’s SPE Annual Caspian Technical Conference and Exhibition—taking place 4–6 November in Baku, Azerbaijan—will feature three high-level panel sessions addressing the most topical trends, challenges and opportunities facing the oil and gas industry in the Caspian. The three panel sessions have the confirmed participation of some of the region’s …
GlobalData Analyst: US/EU Sanctions Could Lead to Restructuring of Russian Oil and Gas Industry
While Russia is continuing to pump crude oil at record levels, producing on average 10.685 million barrels per day in 2015, the continuous pressure from US/EU sanctions is having an impact on the strategic course of Russian oil and gas industry, says an analyst with research and consulting firm GlobalData. …
US Sanctions: Could Impact Shell’s Decision on Yuzhno-Kirinskoye and Sakhalin 3
Royal Dutch Shell’s plans to build a strategic alliance with Russia’s Gazprom could be in jeopardy after the United States added one of Gazprom’s biggest gas fields to its list of Russian sanctions on Friday. Shell and Gazprom signed an agreement in June to develop a strategic alliance in the …
US Sanctions: Could Impact Shell's Decision on Yuzhno-Kirinskoye and Sakhalin 3
Royal Dutch Shell’s plans to build a strategic alliance with Russia’s Gazprom could be in jeopardy after the United States added one of Gazprom’s biggest gas fields to its list of Russian sanctions on Friday. Shell and Gazprom signed an agreement in June to develop a strategic alliance in the …
Rosneft Files Joint Bid with ExxonMobil for Mozambique License Round
RN-Exploration (100% Rosneft subsidiary) and ExxonMobil Exploration and Production Mozambique Offshore Limited filed joint bids to participate in the fifth license round organized by the Republic of Mozambique Institute of National Petroleum (Instituto Nacional de Petróleo). The global partnership of the companies is of a strategic nature. Rosneft and ExxonMobil …