The Cabinet of Ministers Expanded the List of Hard-to-Recover Reserves
Oil deposits of the Kuma-Kerestin formation in the North Caucasus and Paleozoic deposits of Western Siberia were brought there The Russian government has included oil deposits of the Kuma-Kerestin formation in the North Caucasus and Paleozoic deposits of Western Siberia in the list of hard-to-recover reserves, the ministry reported. The …
KazMunayGas Commissioned the Eastern Urikhtau Field
In the Mugalzharsky district of the Aktobe region, the commissioning of the Eastern Urikhtau field took place on December 4, Kazinform reports. As the official Telegram channel of the Samruk-Kazyna Foundation reported, the launch of the field will allow obtaining additional volumes of commercial and liquefied gas for the Aktobe …
Oilmen Introduced an Innovative Management Model at a “Smart” Field in Ugra
Thanks to digitalization, the enterprise has increased the efficiency of decisions made. At the Vatyegan group of fields in the Khanty-Mansi Autonomous Okrug, the LUKOIL-Western Siberia company introduced an innovative model for managing hydrocarbon production based on integrated operations. This became possible thanks to the implementation of the “Intellectual Field” …
US Oil Production Set a World Record in September
The level of oil production in the United States in September increased by a maximum of 1.7% in six months in monthly terms and reached a record 13.24 million barrels per day (b/d), the Energy Information Administration (EIA) of the country’s Department of Energy reported. The Financial Times calls the …
The Head of Petrobras Said That Brazil Will Join OPEC+
Brazil will join OPEC+ (an expanded partnership format of OPEC oil exporting countries), but will not reduce energy production within the limits agreed upon by the association. Jean-Paul Prates, CEO of the Brazilian national oil and gas company Petrobras, announced this in an interview with Reuters. “We would never be …
Colombian Ecopetrol Announced Plans to Invest Up to $6.7 Billion and Produce Up to 730,000 bpd in 2024
Colombian state oil company Ecopetrol said it plans to invest between $5.7 billion and $6.7 billion and produce up to 730,000 b/d in 2024. The majority of these costs, about $4.8 billion, will go towards maintaining production at 725,000 to 730,000 boe/d, the company’s refineries at 420,000 to 430,000 b/d …
Venezuelan President Reports Stable Growth in Oil Industry
Nicolas Maduro said that in the third quarter, oil and natural gas production in the republic increased by 12.99%, and also noted a “significant increase” in oil exports. Venezuela has achieved stabilization in the growth of the oil industry and an increase in hydrocarbon production. Venezuelan President Nicolas Maduro announced …
Daily Oil Production Decreased By 15% in Kazakhstan
In Kazakhstan, daily production of oil and gas condensate has decreased, according to data from the situational analytical center of the fuel and energy complex under the Ministry of Energy of Kazakhstan. According to the center, on November 26, daily production of oil and gas condensate in Kazakhstan amounted to …
Russia and Saudi Arabia Will Agree on Oil Production Quotas in 2024
At the ministerial meeting of OPEC+ participants, which will take place on November 30 after a six-month break, a decision will be made on the alliance’s actions next year. The main intrigue is whether OPEC+ will increase production cuts or leave the previous agreements in force. According to them, in …
Kazakhstan Plans to Increase Oil Production to 100 Million Tons
The Kazakh authorities plan to increase oil production to 100 million tons in 2028, the Minister of National Economy of the Republic Alibek Kuantyrov said at a plenary meeting of the Senate (upper board of parliament) of Kazakhstan. “The basis for forming the forecast (the socio-economic development of the country …