The Islamic Republic of Iran Is Ready to Increase Oil Production to the 2015 Level If Sanctions Are Lifted
The Ministry of Petroleum of the Islamic Republic of Iran has announced that Tehran is ready to quickly return to its 2015 oil production levels if international sanctions imposed on its oil sector are lifted. The ministry clarified that Iran possesses the full technical capacity to bring its currently idled …
The Republic of Kazakhstan Takes Its Own Interests into Account Rather Than Those of the OPEC+ When Determining Oil Production Quotas
The Republic of Kazakhstan intends to prioritize its national interests over its commitments to the Organization of the Petroleum Exporting Countries Plus (OPEC+) when determining its oil production quotas. This was stated in an interview with Reuters by the newly appointed Minister of Energy of the Republic of Kazakhstan, Yerlan …
Halliburton Warns of a Crisis in the Oil and Gas Industry of the United States of America
The stock prices of oilfield services companies in the United States of America have fallen by approximately 6 percent, according to Reuters. Many participants in the oilfield services sector believe they will not be able to generate profit from new drilling operations if the price of crude oil falls below …
The Republic of Tatarstan Has Enough Oil Reserves to Last for 200 Years
Today, a one-percentage-point increase in the oil recovery factor could expand the recoverable reserves of Public Joint Stock Company Tatneft by an amount equivalent to the discovery of a major new oil field. Following the lifting of production restrictions under the OPEC+ agreement, Tatneft is positioned to significantly increase oil …
Oilfield Services Company Baker Hughes Reduces Net Profit by 12 Percent in the First Quarter
The American oilfield services company Baker Hughes Company reported a 12 percent decline in net profit for the first quarter of 2025, while its adjusted earnings increased by 19 percent, exceeding analyst expectations. From January through March, Baker Hughes posted a net profit of 402 million United States dollars, compared …
Royal Dutch Shell to Withdraw from Development of Three Natural Gas Projects in the Caribbean Waters of Colombia
The British energy corporation Royal Dutch Shell has announced its withdrawal from participation in three offshore natural gas projects located in the Caribbean Sea off the coast of Colombia, which were being developed in partnership with the state-owned company Ecopetrol. This was reported by Reuters based on official statements issued …
Taimyr Region Receives New Confirmation of High Oil and Gas Potential
The Federal Agency for Subsoil Use of the Russian Federation (Rosnedra) and the Russian State Geological Holding (Rosgeologia) have reported significant results from the state geological exploration program conducted in the central part of the Yenisei-Khatanga Trough, located in the northern area of Krasnoyarsk Krai. During the drilling of the …
Uzbekistan Increases Coal Production but Reduces Oil and Gas Output in the First Quarter of 2025
In the first quarter of 2025, the mining industry of Uzbekistan produced goods worth 18.3 trillion Uzbek sums, accounting for 8.7 percent of the country’s total industrial production volume, according to the national statistics agency, as reported by Sputnik Uzbekistan. The highest growth was recorded in coal production, which reached …
Bloomberg: Canada Will Limit Oil Production
The number of licenses issued for new natural gas wells in Canada during the first quarter of 2025 increased by 26 percent compared to the previous quarter, reaching 308 licenses, which is the highest quarterly figure recorded over the past two years. Meanwhile, the number of licenses for oil wells …
Public Joint Stock Company Tatneft Will Process 70 Percent of Its Own Oil
Public Joint Stock Company Tatneft Will Process 70 Percent of Its Own Oil and Develop Petrochemicals for Further Diversification Public Joint Stock Company Tatneft plans to increase the share of its own oil processing from the current 60 percent — already the highest rate in the Russian Federation — to …