Russia & CIS ///

Lukoil takes FID on Rakushechnoye project, in the Caspian Sea

Lukoil took the final investment decision on the Rakushechnoye field development project in the Caspian Sea.

Trump says U.S. will compete with Russia for European gas market

U.S. President Donald Trump eased his tone about a Russian natural gas pipeline to Germany after a one-on-one meeting with President Vladimir Putin, shifting from the harsh criticism he’d levied in Europe last week.

Iran touts Russia's plan to invest in its oil with sanctions looming

Iran said Russia is ready to invest as much as $50 billion in its oil industry even as Western majors are pulling out of deals with the republic amid the threat of U.S. sanctions.

Full-scale development of Yamal’s Kharasaveyskoye field to start in 2019

Alexey Miller, chairman of the Gazprom Management Committee, held in Bovanenkovo (Yamal-Nenets Autonomous Area) a meeting on the pre-development project for the Kharasaveyskoye gas and condensate field and the gas transmission system.

Petro Matad spuds Snow Leopard-1 well in Mongolia

Petro Matad, the AIM quoted Mongolian oil explorer, has advised that the Snow Leopard-1 well (Petro Matad 100%) in the Taats basin of Block V spudded on July 9, 2018.

Companies in the news

Michele Cowart, World Oil

Akofs Offshore has been awarded a contract for light well intervention services, using its 156-m vessel, Akofs Seafarer, for all Equinor-operated licenses, in the period 2020 to 2025.

Gazprom and PetroVietnam hold talks on joint ventures, future growth

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Tran Sy Thanh, chairman of the board of directors of Vietnam Oil and Gas Group (PetroVietnam), took place in Moscow.

Russian oil faces next challenge now that OPEC deal is complete

Russia’s deal with OPEC on crude supply is starting to look straightforward -- when compared with looming decisions on how taxes will be levied on the nation’s oil industry into the next decade.

Saudi, Russia reaffirm OPEC deal of MM-bbl oil boost

Saudi Arabia and Russia reaffirmed an agreement between OPEC and its allies, which they say will mean increasing oil production by 1 MMbpd.

Kazakh oil output dips as list of disrupted producers lengthens

Add Kazakhstan to the list of oil producers whose supply is restricted.

OPEC reaches decision on output boost

Brent crude gained in London as OPEC ministers were said to agree upon a deal in principle to boost production.

Rosneft says it is "comfortable" with $70-$80 oil

Rosneft PJSC’s said crude at $70 to 80/bbl was a “comfortable level” and expressed satisfaction with the results of Russia’s joint supply cuts with OPEC, just a week before talks that could phase them out.

Lukoil commissions third well at Vladimir Filanovsky field

Lukoil completed the construction and commissioned the third well at the second development stage of Vladimir Filanovsky field in the Caspian Sea.

The natural gas market in 2017

Armelle Lecarpentier, CEDIGAZ

In 2017, global natural gas demand’s above-average growth reshaped market fundamentals and  prevented the development of a global natural gas bubble. Meanwhile, global natural gas consumption doubled its 2016 growth rate, and it was well ahead of the previous five-year trend.

As Trump riles Europe on trade, Putin offers more natural gas

As Donald Trump’s trade policy risks worsening economic conflict with the European Union, Russia’s Vladimir Putin is strengthening ties with the region.

Gazprom Neft, Skolkovo to establish digital lab for modeling of multi-phase systems

The Science and Technology Center of Gazprom Neft and the Skolkovo Institute of Science and Technology signed a collaboration agreement at the Skolkovo Startup Village — the largest startup-conference in Russia and CIS for technology entrepreneurs. The parties have agreed on the further development of joint research and innovation/entrepreneurship activity.

Caspian Sunrise identifies oil-bearing intervals at Kazakhstan sidetrack

Caspian Sunrise identifies, in aggregate, 121 m of potential oil-bearing intervals in drilling the 801 sidetrack in Kazakhstan.

Gazprom Neft reports first-quarter net profit growth of 12% year-on-year

Gazprom Neft’s revenue in the first three months of 2018 grew by 14.5% year-on-year, to RUB 520.6 billion. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) increased by 32.3% year-on-year, to RUB 155.8 billion.

Russia loses its edge as oil drop spurs worst ETF flows in year

Sliding oil prices are eroding the buffers that helped Russia withstand the emerging-market retreat.

Lukoil, Gazprom agree to jointly develop two fields in Nenets Autonomous District

President of PJSC "Lukoil" Vagit Alekperov and Chairman of the Management Committee of PJSC "Gazprom" Alexey Miller have signed an Agreement of Intent at the Saint-Petersburg International Economic Forum.