WorldOil Merkel defends Russian gas link expansion protested by Poland German Chancellor Angela Merkel threw her country’s weight behind the Nord Stream 2 gas pipeline from Russia, boosting the chances that the controversial link will become reality. Lukoil reports year-end 2017 reserves estimate Lukoil announced today the results of the oil and gas reserves assessment and independent audit as of Dec. 31, 2017. According to the SEC (U.S. Securities and Exchange Commission) standards, the Company's proved hydrocarbon reserves totaled 16.0 Bboe, 75% of which were oil reserves. Hydrawell to execute PandA at Absheron field, in the Caspian Sea Total EandP Absheron B.V. (Total), acting as operator for and on behalf of a consortium presently composed of Total EandP Absheron B.V. (50%) and Socar Absheron LLC (50%) has tasked HydraWell to execute a part of plug and abandonment campaign at Absheron field, in the Caspian Sea. OPEC, Russia to discuss new oil-inventory measurements in April OPEC will soon discuss with Russia a new way to measure oil inventories as producers meet to review their supply-cuts agreement that expires at the end of 2018. Norway, Russia sent record gas volumes to Europe in 2017, Rystad says Gas exports to Europe from both Russia and Norway climbed to record levels in 2017, according to fresh analysis by Rystad Energy. Russian and Norwegian gas exports to Europe (including Turkey) reached 194 Bcm and 122 Bcm, respectively, in 2017. Rosneft increased proved hydrocarbon reserves by 6% in 2017 As of Dec. 31, 2017, the Rosneft's SEC (United States Securities and Exchange Commission) proved hydrocarbon reserves achieved 39,907 MMboe. The hydrocarbon reserves increased by 2,135 MMboe or by 6% compared to the reserves at the end of 2016. Weatherford collaboration software enables single-trip casing exit at Russia's Sakhalin Weatherford International plc today announced the successful execution of a shallow-angle casing exit in Sakhalin Island, Russia, using the AccuView real-time remote support system. Poland bets on LNG, Norway gas as divorce with Russia looms Russia’s oldest natural gas buyer is ready to break up after more than 74 years. Europe's frozen relationship with Gazprom shows signs of thawing A rapprochement is emerging between the European Union and its biggest natural gas supplier. Gazprom Neft reports 26% year-on-year increase in net profit for 2017 Gazprom Neft today publishes preliminary consolidated IFRS financial statements for the 12 months ended Dec. 31, 2017.