Rosneft Cuts Oil Output with an Eye to Ramping Up Again
Russia’s Rosneft is ready to resume full oil output quickly once OPEC-led cuts end as the country’s top producer has focused its own cuts on newer fields, its chief executive has said. Those cuts run until June 30, though oil ministers from OPEC and non-OPEC countries meeting in Vienna this …
Rosneft and Eni To Extend Cooperation in Russia and Abroad
Rosneft and Eni S.p.A. entered into a Cooperation extension agreement in the areas of upstream, refining, marketing and trading during the visit of an Italian delegation to Russia. The document was signed by Rosneft CEO Igor Sechin and Eni CEO Claudio Descalzi in the presence of Russian President Vladimir Putin …
Rosneft and Tecnoclima S.p.A. Agree on the Supply of Climatic Equipment for Drilling Rigs
Rosneft and Tecnoclima S.p.A. entered into a Cooperation Agreement on the supply, modernization and maintenance of heating and ventilation systems for drilling rigs during a visit of the Italian delegation to Russia. The document was signed by Rosneft Chief Executive Officer Igor Sechin and Tecnoclima Chief Executive Officer Giulio Vescovi …
Rosneft: Q1 2017 Results – Upstream Costs Down 6.7% per Barrel
Y/Y EBITDA growth by 22.0% in RUB terms and 54.1% in USD terms Threefold growth of FCF q/q Decrease in upstream costs per boe by 6.7% q/q Improved efficiency and realized synergies from Bashneft integration Planned capital expenditures growth by 24.7% y/y with sustainable free cash flow Consolidated IFRS financial …
Rosneft: Reducing Drilling Time – Combined Production String and Multi Stage Fracturing Completions
History of Success RN-Yuganskneftegaz (RN-YuNG) is a major oil company, and part of NK Rosneft. Formed in 1977, it has 26 oil fields under development located in Khanty-Mansiysk, Western Siberia. RN-YuNG has also been developing relatively new fields such as Priobskoe and Prirazlomnoe that feature a relitively low depletion of …
RN-Uvatneftegaz: Launches New Power Plant at the Ust-Tegusskoe field
A new gas engine power plant (GEPP) of temporary power supply was launched at the Ust-Tegusskoe field that is being developed by RN-Uvatneftegaz. The power plant will allow to increase capacity of the Uvat project Eastern Development Centre and to ensure steady power supply of the oil and gas production …
Rosneft: Spins Bit at Tsentralno-Olginskaya-1 in the Northernmost Russian Arctic Shelf
Rosneft started drilling of the Tsentralno-Olginskaya-1 well at the Khatangsky license area. The well is the northernmost at the Russian Arctic shelf. President of Russia Vladimir Putin launched exploration drilling via video link-up with Rosneft Chief Executive Officer Igor Sechin who was on the shore of the Khatanga bay. In …
Rosneft and Lamor Corporation Agree on Cooperation in Russian Spill Response Equipment Manufacturing
Rosneft and the Finnish company Lamor Corporation Ab signed an Agreement on the Main Principles of Cooperation at the IV International Arctic Forum “Arctic:Territory of Dialogue” in Arkhangelsk. The companies will study the prospects of localizing the production of oil spill response (OSR) equipment and machinery for arctic region in Russia. …
Rosneft: Disappointed by EU Court of Justice Decision on European Sanction Legitimacy
Rosneft considers the decision of the EU Court of Justice, delivered on the 28th of March, 2017, illegal, groundless and politicized. This decision proves that in Europe the rule of law is being substituted with the rule of politics. The Court has recognized the legitimacy of sanctions, although the participants …
GlobalData: Russia Plans to Commence 29 Natural Gas Projects by 2050
Russia has the highest number of key planned oil and gas projects in the Former Soviet Union (FSU), with a total of 29 oil and natural gas projects expected to start operations in the country by 2025, according to research and consulting firm GlobalData. The company’s latest report states that, …