Latest news
OMV and ADNOC decide to explore opportunities for collaboration
Austrian oil and gas conglomerate OMV and Abu Dhabi National Oil Company (ADNOC) decided on Thursday to explore opportunities for cooperation, among others in downstream projects.
read more... 26/05/2017
Statoil will launch production at Gina Krog oil and gas field in June
Norwegian Petroleum Directorate (NPD) declared on Wednesday it has given approval for Statoil to start operations at the Gina Krog oil and gas field in the North Sea.
read more... 25/05/2017
Russia: Gazprom Neft purchases licence to develop the Novosamarskoye field, Orenburg Oblast
Gazprom Neft has purchased a subsoil usage license issued by the Federal Subsoil Resources Management Agency for the Novosamarskoye field in the Orenburg Oblast. The license, for the exploration and production of hydrocarbons, is valid until 5 May 2037. The total area of the licensed block is 26.56 square kilometers.
read more... 19/05/2017
Russia and Saudi Arabia are supporting the extension of oil production cuts until March 2018
The world’s biggest oil producers – Russia and Saudi Arabia – agreed on Monday that the oil output cut deal should be extended for another 9 months in the hope to push up the prices.
read more... 16/05/2017
Russia: Oil production was cut more than required in OPEC agreement
Russia’s Energy Ministry announced on Wednesday that the country’s oil production was 300,790 barrels per day (bpd) on the 1st of May, which is below the level registered in October and far less than requested under the OPEC agreement.
read more... 05/05/2017