Kazakhstan Has Declared Its Commitment to Cooperation Within the Framework of OPEC+
The Kazakh authorities intend to continue cooperation within the framework of OPEC+. This was stated by the head of the Government of the republic Olzhas Bektenov at a meeting in Astana with OPEC Secretary General Haitham al–Gais. “Kazakhstan is committed to further cooperation within the framework of OPEC+. We support …
Norwegians Believe in Strong Demand for Oil and Gas Until 2035
Norwegian Equinor will invest up to $7 billion per year in exploration and production on the Norwegian shelf until 2035. Norway‘s Equinor plans to invest up to $6.7 billion annually in oil and gas offshore Norway by 2035, anticipating continued high demand for fossil fuels. Equinor said it could produce …
Kazakhstan Intends to Increase Oil Production to Almost 105 Million Tons in 2029
Kazakhstan plans to increase oil production to 104.8 million tons in 2029, Minister of National Economy Nurlan Baybazarov said at a government meeting. “The volume of oil production will increase from 97.2 million tons in 2025 to 104.8 million tons in 2029,“ he said. In 2023, 90 million tons of …
The President of Turkmenistan Discussed Cooperation in the Fuel and Energy Sector with the Head of Dragon Oil
Turkmen President Serdar Berdimuhamedov received Chairman of the Board of Directors of Dragon Oil (UAE) Saeed Al Thayer. This was reported by the official newspaper Neutral Turkmenistan. According to the newspaper, during the meeting, the parties discussed the possibilities of building up a long-term successful partnership, taking into account the …
Brazilian Authorities Demand to Reduce Gas Injection into New Oil Wells
The Brazilian president intends to fulfill his promise to reduce gas prices, so he ordered to reduce the injection of natural gas into new oil wells. Brazilian President Luiz Inacio Lula da Silva has issued a decree according to which the regulator will monitor the reduction of gas injection into …
Drilling Activity in Shale Is Falling
According to Reuters, oil and gas development in the United States is showing further signs of leveling off with the prospect of a decline as a result of falling energy prices (from a peak of $124 per barrel of oil recorded in June 2022). The drop in oil prices has …
Kazakhstan Has Updated the Oil Production Compensation Plan Within the Framework of OPEC+
The Kazakh authorities have updated the oil production compensation plan under the OPEC+ agreement and sent it to the association‘s secretariat. This was reported by the press service of the Ministry of Energy of the Republic. “Kazakhstan confirms its commitment to the OPEC+ agreement and supports the decisions taken jointly …
Rosneft Celebrates 15 Years Since the Beginning of Commercial Oil Production at the Vankorskoye field
RN–Vankor (part of the Rosneft oil and gas production complex) celebrates the 15th anniversary of the commissioning of the Vankor field into commercial operation. Its development was the beginning of the creation of the Vankor cluster of fields, which today has become the basis of Vostok Oil, the largest investment …
Gazprom Neft Has Received Licenses for Three Sites in the South-East of Yamal
Gazprom Neft is starting to explore the Vostochno–Terel group of fields in the Yamalo–Nenets Autonomous Okrug – the company has received licenses for three sites that will become part of a large oil production cluster in the Yamalo-Nenets Autonomous Okrug, its message says. Gazpromneft–Noyabrskneftegaz will act as the operator of …
Turkey Broke the Daily Record for Oil and Gas Production in August
Turkey is increasing its hydrocarbon production in order to get away from import dependence on oil and gas. Turkey has reached new highs in daily oil and gas production: on August 17, oil production reached 107.6 barrels per day, and gas production on August 15 — 7.61 million cubic meters. …