LUKOIL Commissions Komandirshorskaya Group of Fields in Nenets District
LUKOIL started test production at three oil fields of the Komandirshorskaya Group – Komandirshorskoye, North Komandirshorskoye and West Komandirshorskoye – in the Nenets Autonomous District. The initial recoverable reserves of the three fields are estimated at 11 million tons. The production commenced at all the three geological structures of the …
Russia’s LUKOIL Calls for Oil Producing States to Cooperate Over Virus Impact
Russia’s second-largest oil company Lukoil urged crude producing countries on Wednesday to continue cooperating to tackle the impact of the coronavirus on the energy market. Lukoil head Vagit Alekperov also told investors on a conference call that he expected a meeting this month of a panel of experts from OPEC …
OPEC’s Oil Cut Proposal Enough to Push Prices Back to $60/bbl -Russia’s LUKOIL
OPEC’s proposal to cut oil production by up to 1 million barrels per day would be enough to balance the market and lift oil prices back to $60 a barrel, Leonid Fedun, vice-president of Russia’s second-biggest oil producer Lukoil, told Reuters. Fedun’s comments suggest Russia may be willing to agree …
LUKOIL Board of Directors Summarizes Preliminary 2019 Results
LUKOIL Board of Directors held a meeting in Moscow today to summarize the Company’s preliminary 2019 results and set priorities for 2020 under the Strategic Development Program for 2018 – 2027. It was noted at the meeting that the Company successfully accomplished the second year’s goals within the ten-year strategy …
LUKOIL: How Data Mining Enhances Oilfield Development
Long-term field development plans dictate that a variety of well services are carried out in order to increase well productivity. Perforation jobs (perforation of previously unperforated intervals and reperforation) are one of these methods. Perforation is relatively low cost, and its effect can be predicted based on a small amount …
LUKOIL Announces IFRS Financial Results for the Third Quarter and Nine Months of 2019
PJSC LUKOIL today released its condensed interim consolidated financial statements as of and for the three and nine months ended 30 September 2019, prepared in accordance with International Financial Reporting Standards (IFRS). Financial highlights 3Q 2019 2Q 2019 9M 2019 9M 2018 (RUB bln) 1,952.3 2,125.6 Sales 5,928.8 5,992.7 327.8 332.2 EBITDA 958.0 …
LUKOIL Does Not Plan to Invest in Saudi Aramco’s IPO
LUKOIL, Russia’s second largest oil producer, does not plan to invest in Saudi Aramco’s planned initial public offering, its CEO and biggest shareholder, Vagit Alekperov, told reporters on Monday. Saudi state oil giant Aramco plans to start the offering, set to rank it as the world’s most valuable company, on …
LUKOIL Reports Preliminary Operating Data for the Third Quarter and Nine Months of 2019
For the nine months of 2019 LUKOIL Group’s average hydrocarbon production excluding the West Qurna-2 project amounted to 2,337 thousand boe per day, which is 1.6% higher year-on-year. The increase was mainly driven by the development of gas projects in Uzbekistan, as well as oil production growth in Russia due …
Russia’s Lukoil, Hungary’s MOL to Sign Dirty Oil Settlement
Russian oil producer Lukoil and Hungarian energy company MOL are set to sign a settlement deal over contaminated oil during Russian President Putin’s visit to Budapest this week, four industry sources told Reuters. A high level of organic chloride was found in late April in Russia’s Druzhba pipeline, which connects …
LUKOIL and Nigerian National Petroleum Corporation Sign a Memorandum of Understanding
President of PJSC LUKOIL Vagit Alekperov and Nigerian National Petroleum Corporation (NNPC) Group Managing Director Mele K Kyari signed a Memorandum of Understanding between the companies. Memorandum was signed today at the Russia-Africa economic forum in Sochi. According to the Memorandum, the parties intend to consider possible cooperation in the …