Russia & CIS ///

Venezuela will seek to restructure debt, blaming sanctions

President Nicolas Maduro said Venezuela will seek to restructure its global debt after the state oil company makes one more payment, blaming U.S. sanctions for making it impossible to find new financing.

Venezuela's restructure heightens Rosneft's $6-billion risk

The risks associated with Rosneft PJSC’s $6 billion advance to Venezuela’s oil company for future crude shipments have deepened after the Latin American nation announced plans to restructure crushing debts.

Russian-Iranian framework established for gas sector cooperation

A number of documents were signed in Tehran on the margins of the visit to the Islamic Republic of Iran by Russian President Vladimir Putin. The documents are aimed at fostering Russian-Iranian cooperation in the gas sector.

Oil extends rally on expectations OPEC will lengthen output cuts

Oil extended gains from the highest close in more than two years on signs that OPEC will extend production cuts when it meets at the end of this month.

Rosneft, National Iranian Oil Company sign strategic oil and gas agreement

During the visit of the Russian President Vladimir Putin to the Islamic Republic of Iran, Rosneft Oil Company and National Iranian Oil Company signed an agreement termed the “Road Map and Key Terms of Strategic Cooperation in the Field of Oil and Gas.”

Lukoil completes eighth well at Vladimir Filanovsky field

Lukoil has completed the drilling of its eighth well at Vladimir Filanovsky field in the Caspian Sea.

China to get first Yamal LNG cargo as Russia says "thank you"

Russia’s Yamal LNG, set to be the world’s biggest Arctic producer of liquefied natural gas, plans to send its debut cargo to China as thanks for its support.

PetroNeft confirms positive results from Sibkrayevskoye well

PetroNeft, an E&P company operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licences 61 and 67, has provided an update on the S-375s delineation well at Sibkrayevskoye oil field.

Russia cements top spot in crude sales to China as Saudis recede

Russia continues to pull ahead of its oil rivals including Saudi Arabia in China, the world’s biggest energy user.

Petro Matad provides updates regarding seismic program in Mongolia

Further to its announcement of Oct. 4, 2017, Petro Matad has provided the timelines and details regarding the planned seismic work program following the signing of the BGP contract, as detailed further below. The 220-km2 3D survey will be the first ever 3D seismic acquired in western Mongolia.

Rosneft, Saipem sign strategic cooperation agreement

Rosneft and Saipem SpA signed a strategic cooperation agreement at the X Eurasian Economic Forum in Verona.

Gazprom Neft begins production of its own drilling oils

Gazpromneft-Lubricants, operator of the Gazprom Neft lubricants business, has become the first company in Russia to start producing oils for the production of drilling fluids using its own technology.

Gazprom Neft partnership developing Russia's first integrated IT platform for seismic data

Specialists from the Gazprom Neft Science and Technology Centre, in partnership with Yandex Terra (LLC Seysmotek), Pangea PJSC and the Moscow Institute of Physics and Technology (MIPT) are developing Russia’s first integrated platform for the processing and interpretation of seismic data, supporting the entire seismic-survey cycle, from objective setting to project completion.

Gazprom discusses cooperation with Cuba Energy Ministry, highlights success with Bolivia

A working meeting between Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, and Luis Alberto Sanchez, Minister of Hydrocarbons and Energy of Bolivia, took place today at the seventh St. Petersburg International Gas Forum.

Gazprom, CNPC, KazMunayGas partner on natural gas infrastructure

Vitaly Markelov, deputy chairman of the Gazprom Management Committee, Huang Weihe, vice president of PetroChina (under a power of attorney on behalf of CNPC), and Daniyar Berlibayev, executive vice president for transportation, processing and marketing of KazMunayGas, today signed a Memorandum of Understanding at the 7th St. Petersburg International Gas Forum.

Gazprom Neft partners with Saudi Aramco on oilfield technology development

Gazprom Neft has signed a memorandum of cooperation with Saudi Aramco, the national oil company of Saudi Arabia, to extend their partnership in oil and gas industry. Signatories to the document were Alexander Dyukov, CEO of Gazprom Neft, and Amin H. Nasser, President and CEO, Saudi Aramco.

Saudis say Russian cooperation “breathed life” back into OPEC

Cooperation between Saudi Arabia and Russia has “breathed life back into OPEC” and made the kingdom’s oil minister more optimistic about the outlook for the market than he has been for several years.

Oil edges higher as Saudi-Russia encounter reassures oil bulls

Oil rose the most in a week as the world’s biggest oil exporters, Saudi Arabia and Russia, signaled continued cooperation on efforts to erode a global crude glut.

Gazprom Neft discovers new offshore field in Okhotsk Sea

Gazpromneft-Sakhalin, a subsidiary of Gazprom Neft, has completed drilling of a prospecting and appraisal well at its Ayashsky license block, located on the continental shelf of the Okhotsk Sea. As a result, a new hydrocarbon field has been discovered, with initial in-place reserves estimated at 255 million tonnes of oil equivalent (MMtoe).

Gazprom Neft, Thailand's PTT partner on Russian E&P operations

Gazprom Neft and PTT, Thailand’s largest oil and gas company, have signed a memorandum of understanding (MoU), promoting mutually-beneficial cooperation between the two companies. The document was signed by Alexander Dyukov, CEO of Gazprom Neft, and Tevin Vongvanich, president of PTT.