Chevron Corporation and Companies from the European Union Are Requesting Approval from the United States Administration for Projects in the Bolivarian Republic of Venezuela
Chevron Corporation of the United States and European energy companies are currently engaged in negotiations with the administration of President Donald Trump to retain their stakes in joint ventures with PDVSA, the state-owned oil and gas company of the Bolivarian Republic of Venezuela, according to a report by Reuters. The …
US Lifts Sanctions Restrictions on Kazakhstan’s Oil and Gas Projects
The US Treasury Department has issued an indefinite license to provide oil services to the Caspian Pipeline Consortium (CPC) and Tengizchevroil, lifting previously imposed restrictions under sanctions against Russia. According to the published document, all transactions related to these projects are now permitted. Previously, there was a temporary permit that …
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 …
Dmitry Peskov Rules Out Cutting Off Energy Supplies
If something is cut off in one place, an alternative route appears in another, Peskov said. According to him, Russia will look for options to minimize the consequences of sanctions Russian presidential press secretary Dmitry Peskov, in response to new US sanctions against the oil sector, said that the routes …
The EU Imposed Sanctions Against the Oilfield Services of Eurasia Drilling Company and SSС
The European Union included in the sanctions list of large oil and oil contractors – Eurasia Drilling Company (EDC) and JSC Siberian Service Company (SSС), the publication reported in the EU official journal. In addition, the sanctions were imposed against another oilfield company – the Novosibirsk LLC Neftegazpromstroy. The EDC was …
Half of the Russian Seismic Exploration Vessels Are Idle Due to Underfunding of Marine Research. Review
Russia has unique seismic research vessels, including ice-class ones, but in the current situation not all of them are used. Half of the domestic geological exploration fleet is idle, which is quite expensive for shipowners – the maintenance of each vessel costs an average of 200 million rubles a year. …
The United States Extended the License for the Big Four Oilfield Services to Provide Some Services in Venezuela
The Office of Foreign Assets Control (OFAC) has extended until November 15, 2024 the license for Schlumberger, Halliburton, Baker Hughes and Weatherford to provide some oilfield services in Venezuela, the department said in a statement. The document allows these companies, as well as their subsidiaries, to conduct transactions in the …
U.S. Imposes Sanctions Against Russian Oil, Gas Research Organisations & Service Companies
The United States included more than 20 Russian organizations that specialize in services and research for oil, gas and chemical companies in its sanctions list on Friday, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) reported on its website. Sanctions have been extended to the following oil and …
SLB Restricted Business in Russia
Oilfield services giant SLB has restricted business in Russia to continue operating under sanctions. Among the measures taken by SLB to continue working in Russia under sanctions is the restriction of the supply of products and technologies produced in the US, UK, EU and Canada. The largest oilfield services company …
Rosneft: Vostok Oil is Not Subject to Sanction Restrictions
Rosneft’s Vostok Oil project does not fall under the sanctions restrictions. This is stated by the company, referring to the results of the examination conducted by the world’s leading technology and legal companies. We will remind, on the Reuters website on January 15, 2021, news was published, which, according to …