Hydrocarbon Production

The departments are discussing additional measures to stimulate the development of hard-to-recover hydrocarbon reserves. Relevant ministries are working to expand tax benefits for hard-to-recover hydrocarbon reserves (HRR), writes the Kommersant newspaper with a link to the minutes of the relevant meeting held in Khanty-Mansi Autonomous Okrug. The list under discussion …

Gazprom Neft, the Ministry of Energy of the Russian Federation and the Ministry of Industry and Trade of the Russian Federation signed a roadmap for the development of domestic equipment for drilling and onshore hydrocarbon production. The document defines specific steps to implement the relevant agreement between the company and …

PAO NOVATEK (“NOVATEK” and/or the “Company”) reported today preliminary operating data for the third quarter and nine months 2023. In the third quarter 2023, NOVATEK’s hydrocarbon production totaled 154.9 million barrels of oil equivalent (boe), including 19.76 billion cubic meters (bcm) of natural gas and 3.00 million tons of liquids (gas condensate and crude …

The company will focus on large LNG projects French energy company TotalEnergies plans to increase hydrocarbon production by 2-3% annually until 2028, focusing on developing supplies of liquefied natural gas (LNG). The company provides such data in its presentation of the 2023 strategy. “By dramatically reducing emissions from its operations, …

Belorusneft’s subsidiary in Ecuador has produced 4 million barrels of hydrocarbons since the start of the international project, BELTA learned from the company. Initially, the interest was bilateral, since international cooperation in this format is an opportunity to expand professional competencies for Belarusian and Ecuadorian oil workers. According to the …

The American president noted that these measures will help preserve Arctic lands and wildlife US President Joe Biden intends to cancel permits issued by the previous US administration led by Donald Trump to lease federal lands in the state of Alaska for the development of oil and gas fields. This …

Both countries are increasing capital investment in hydrocarbon production on the North Sea shelf, and also continue issuing licenses in this region. The oil and gas industries of Norway and the UK, which were experiencing a decline in investment some time ago, have now experienced financial problems and are increasing …

The Italian Eni, together with the Ivorian Petroci Holding, has begun hydrocarbon production at the Balein field on the shelf of Côte d’Ivoire. “This milestone has been passed less than two years after the discovery made in September 2021 and less than a year and a half after the final …

Kenya considers new carbon tax project with local communities in mind Kenyan lawmakers passed a law according to which 40% of the carbon tax from companies, including those developing hydrocarbon deposits, will be deducted in favor of local communities on whose land the enterprises operate, writes Bloomberg. From the tax …

PAO NOVATEK (“NOVATEK” and/or the “Company”) reported today preliminary operating data for the second quarter and first half 2023. In the second quarter 2023, NOVATEK’s hydrocarbon production totaled 158.9 million barrels of oil equivalent (boe), including 20.35 billion cubic meters (bcm) of natural gas and 3.0 million tons of liquids (gas condensate and crude …