Seven OPEC+ Countries Decided to Increase Oil Production Quotas by 188 Thousand Barrels per Day in June
Seven OPEC+ countries decided to increase oil production quotas in June by 188 thousand barrels per day, according to an OPEC press release. The next meeting of ministers of the seven countries is scheduled for June 7. Thus, the total OPEC+ quota for June, taking into account compensations from Kazakhstan …
Rosneft Increases the Economic Efficiency of Well Repairs
Samotlorneftegaz, one of the key production assets of Rosneft, has increased the efficiency of well repairs through the introduction of flexible steel-polymer pipe of Russian manufacture. The use of modern polymer coatings in the pipe structure reduces heat loss during operations to melt hydrate-paraffin deposits in the well. In addition, …
OPEC+ Countries Agree on Oil Production Increase Following UAE Withdrawal
Seven OPEC+ countries with voluntary production cuts (Russia, Saudi Arabia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman) are likely to agree on another increase in oil production quotas; however, it will be adjusted to take into account the UAE’s withdrawal from the organisation, Reuters reported citing sources. The Emirates News Agency …
The United Arab Emirates Announced Withdrawal from OPEC and OPEC+, Which Unite the Largest Oil-Producing Countries
UAE Energy Minister Suhail Mohamed Al Mazrouei told Reuters that the decision to withdraw from OPEC was made after a thorough analysis of energy strategies. When asked whether the UAE had consulted with Saudi Arabia, the de facto leader of OPEC, he replied that the UAE had not raised this …
The Government of Sierra Leone Signed a Contract with Marginal Energy for Hydrocarbon Production in the Country
The deal value amounts to 225 million United States dollars The Government of Sierra Leone has signed an agreement with Nigerian company Marginal Energy for the exploration and production of hydrocarbons on the country’s continental shelf.This was reported by the Petroleum Directorate of Sierra Leone (PDSL). The licence covers five …
Equinor Drilled a Dry Well in the North Sea
Equinor and its partners drilled a dry well in the Skoll and Hati subsoil blocks east of the Visund field in the North Sea off the coast of Norway.This was reported by the Norwegian Offshore Directorate (NOD). Exploration well 34/8-A-37 H was drilled under licence PL120, located 140 kilometres west …
Vaalco Energy Received an Oil Flow of Nearly 5 Thousand Barrels per Day Offshore Gabon
American Vaalco Energy reported positive results of exploration activities on the continental shelf of Gabon.The company put into operation the directional well Etame-14H, which encountered a productive interval of about 325 metres in the sandstones of the Gamba formation. The initial production rate of the well amounted to about 4.85 …
Kazakhstan Does Not Expect a Decline in Oil Production, May Redistribute Transit Through Other Routes
“Kazakhstan does not expect a decline in oil production following a possible suspension by Russia of Kazakh oil transit via the Druzhba pipeline”, said Energy Minister Yerlan Akkenzhenov. “No, a reduction in production is not envisaged. We have the ability to redistribute this volume through other routes,” Akkenzhenov told journalists …
Gazprom Neft Geologists Discovered New Oil Reserves Using Digital Technologies
Gazprom Neft has discovered two new accumulations at fields in the Khanty-Mansi Autonomous Okrug – Yugra with total geological reserves exceeding 4 million tonnes. Additional formations were identified at the Yuzhno-Priobskoye and Orekhovo-Ermakovskoye fields thanks to Russian technologies for processing geological information. A digital system created by Gazprom Neft, after …
International Tender for Hydrocarbon Development Launched in Algeria
Algerian Minister of Energy Mohamed Arkab on Sunday launched the international tender “Algeria Bid Round 2026” for hydrocarbon development across seven blocks in the southern regions of the country, a RIA Novosti correspondent reported. The tender includes, among others, the El Bourma-2, East Bordj Omar Idriss-1, and Illizi Ouest-1 blocks. …