Russia & CIS ///

Gazprom Neft to start pilot work at Yamal's Severo-Samburgskoye field

Gazprom Neft subsidiary Gazpromneft-Yamal has announced plans to begin pilot operations at the Severo-Samburgskoye field, located in the Purovsky district in the Yamalo-Nenets Autonomous Okrug, in 2017.

Gazprom Neft opens new field in Serbia

Gazprom Neft has opened up a new field in Serbia with recoverable reserves in the order of 432,000 tonnes.

Halliburton reports Russian filing in connection with potential acquisition

Halliburton Company has made a filing with the Federal Antimonopoly Service of Russia (FAS) in connection with a potential acquisition of an interest in Novomet Oil Services Holding Limited.

SOCAR, BP agree terms on future development of Azeri-Chirag-Gunashli field

SOCAR (the State Oil Company of the Republic of Azerbaijan) and AIOC (the Azerbaijan International Operating Company) have signed a Letter of Intent (LoI) for the future development of the Azeri-Chirag-Gunashli (ACG) field in the Azerbaijan sector of the Caspian Sea.

INPEX to develop Russian oil field

INPEX is to enter the production phase at Ichyodinskoye oil field, the company said Wednesday.

Gazprom signs oil deal with Iran as Russians return in force

Russian companies including Gazprom PJSC signed a raft of initial agreements with Iran that could lead to contracts worth billions of dollars, as Energy Minister Alexander Novak outlined Russia’s ambition to become a major investor in the Persian Gulf nation.

Russian energy minister says oil cuts to start in January

Russia’s oil producers have started preparations to meet the nation’s pledge to curb output as part of the “historic” pact between OPEC and 11 producers outside the group, Energy Minister Alexander Novak said.

Glencore, Qatar buy $11-billion stake in Russia's Rosneft

Commodity trader Glencore and Qatar’s sovereign wealth fund agreed to buy a 10.2-billion euro ($11-billion) stake in Russia’s largest oil producer from the state in a triumph for President Vladimir Putin over sanctions imposed by the West.

Russian oil output near post-Soviet record as it prepares to cut

Russia, the world’s largest energy exporter, held November output near a post-Soviet record, which is likely to remain a high-water mark in the near term after a pledge to cut production.

Russia to cut oil output by 300,000 bpd but details remain unclear

Russia has committed to cooperate with OPEC by cutting as much as 300,000 bpd from its oil output but offered no clear method for enforcement, creating uncertainty about how easily the reduction can be delivered.

OPEC tries to salvage deal as Saudis say cut may not be needed

OPEC ministers flew to Moscow and officials in Vienna launched another round of talks in an effort to salvage an agreement on production cuts, just as Saudi Arabia raised the possibility of leaving without a deal.

Saudis sink Russia oil talks as OPEC deal hangs in the balance

Saudi Arabia pulled out of planned talks with non-OPEC nations including Russia as disagreements about how to share the burden of supply cuts stood in the way of a deal to boost prices just days before a make-or-break meeting in Vienna.

Lukoil puts new facilities into operation at heavy oil field

Lukoil has brought a new facility for the treatment and gathering of oil into operation at Yaregskoye field in the Republic of Komi, Russia.

OPEC’s last push for oil-cuts deal shifts focus to Iran, Russia

OPEC’s final push to implement the Algiers supply accord and boost oil prices shifted focus to Iran and non-members such as Russia as Iraq appeared to reverse its opposition to output cuts.

Partners in Shell oil field face tax claim, Kazakh president says

Kazakhstan’s authorities are looking at whether the Karachaganak oil and gas venture, which includes Royal Dutch Shell and Eni, has unpaid taxes.

Saudi Arabia’s latest OPEC headache: Russian reluctance to cut

For months, Russia has told OPEC its preferred option in any eventual oil-supply deal was to freeze production, rather than to cut it. Saudi Arabia, the bloc’s most powerful member, is beginning to think Moscow actually means it.

Lukoil raises output at Caspian Sea field with new well

Lukoil has completed a third well, with a horizontal section measuring 1,217 m, at Vladimir Filanovsky field in the Caspian Sea.

Total, SOCAR sign agreement to develop Absheron discovery

Total and SOCAR, the national oil company of Azerbaijan, have signed an agreement establishing the contractual and commercial terms for the first phase of production from Absheron gas and condensate field.

Russia’s engagement with OPEC said to yield $6-billion budget gain

Russia’s decision earlier this year to engage in talks with OPEC about limiting oil output has added more than 400 billion rubles ($6 billion) to the nation’s budget, according to two officials familiar with government calculations.

Parker Bestobell Marine secures its largest order, to date

Parker Bestobell Marine, a supplier of cryogenic valves and part of Parker, has secured a nine-vessel order, worth $5 million, making it the company's single largest order, to date.