Shell to Merge LNG and Upstream Business
Shell will merge its oil and gas and LNG operations as part of changes made by CEO Wael Sawan to the structure of the energy giant. The new division, which brings together Shell’s most profitable operations, will be led by Exploration and Production Director Zoya Yujnovich, Shell said in a …
Alexander Novak Estimated Budget Revenues From the Oil and Gas Industry at 2.5 Trillion Rubles
Alexander Novak: exports of oil and gas products grew by 28% and brought the budget 2.5 trillion rubles. Last year, Russian budget revenues from the oil and gas industry grew by more than a quarter, and Russia also increased the export of oil and liquefied natural gas (LNG), Deputy Prime …
Gazprom’s First Gas Filling Station in Kalmykia Launched at SPIGF 2022
The opening ceremony for Gazprom’s compressed natural gas (CNG) filling station located in the Republic of Kalmykia was held today via a video call at St. Petersburg International Gas Forum (SPIGF) 2022. Taking part in the event were Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, Batu Khasikov, Head of the Republic of Kalmykia, and Denis Kornienko, Acting …
TATNEFT Will Produce Helium and LNG
The Company is reconstructing a cryogenic unit for advanced processing of dry stripped gas to produce new products. The engineering design documentation and the results of engineering surveys carried out at the territory of Tatneftegazpererabotka Administration (UTNGP) have received a positive conclusion from the State Ecological Expertise and the Federal …
Eni: Results for the Second Quarter and Half Year 2022
Eni’s Board of Directors, chaired by Lucia Calvosa, yesterday approved the unaudited consolidated results for the second quarter and first half 2022. Eni CEO Claudio Descalzi said: “Amid uncertainty and volatility in markets we moved fast to secure new energy supplies. After new gas agreements with our partners in Algeria, …
Gazprom and NIOC Sign Memorandum of Understanding for Strategic Cooperation
During the visit of Russian President Vladimir Putin to the Islamic Republic of Iran, a Memorandum of Understanding for strategic cooperation was signed today in Tehran by Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, and Mohsen Khojastehmehr, CEO of National Iranian Oil Company. The document envisages the analysis of cooperation prospects, inter alia, in the following areas: development of Iranian …
Lifting the Curtain on Russia’s Oil and Gas Sectors That Will Bring in an Estimated $260 Billion in 2022
Despite the severe oil production cuts expected in Russia this year, tax revenue will increase significantly to more than $180 billion due to the spike in oil prices, Rystad Energy research shows. This is 45% and 181% higher than in 2021 and 2020, respectively. Russia’s progressive tax system means that …
REnergyCO: Russian OFS in Global Context
It is important, for many reasons, to understand the global strategic context for an OFS company. One of the key reasons is that the oil and gas industries are becoming increasingly multinational, LNG adds significantly to the globalization of the sector. Hence stakeholders must take the interconnectivity of the markets …
NOVATEK Reports Preliminary Operating Data for the First Quarter 2022
PAO NOVATEK reported today preliminary operating data for the first quarter 2022. In the first quarter 2022, NOVATEK’s hydrocarbon production totaled 160.0 million barrels of oil equivalent (boe), including 20.64 billion cubic meters (bcm) of natural gas and 3.0 million tons of liquids (gas condensate and crude oil), resulting in …
Rystad Energy: NS2 Suspension to Further Tighten Global Gas Markets and Boost LNG Demand, Prices to Continue Climbing through 2023
Germany’s announcement that it has suspended the certification process of the contentious Nord Stream 2 (NS2) pipeline has thrown a geopolitical spanner in the works. The recently completed pipeline, which runs under the Baltic Sea from Russia to Germany, has sat front and center in the broader geopolitical conflict brewing …