Russia & CIS ///

Gazprom says Austrian blast isn't reason to worry

Europe shouldn’t overreact to the shock to natural gas markets caused by an explosion earlier this month in Austria, according to Gazprom PJSC.

Russia to keep its grip on Europe's gas market after record 2017

Russia is working to keep natural gas exports to Europe near record levels in 2018 after the continent’s biggest supplier, Gazprom PJSC, said its deliveries this year signal it is achieving on its ambitions to expand.

Lukoil produces one million tonnes of oil at Yarega field in 2017

Lukoil has reached another milestone with one million tonnes of oil produced at Yarega field, in the Komi Republic, since the beginning of 2017.

Rosneft spuds first ultra-deepwater exploration well in Black Sea

Rosneft has spudded the Maria-1 exploration well offshore in the Black Sea. Forecasted oil in place for Zapadno-Chernomorskaya licence area is estimated to exceed 570 million tons.

Basis laid for another pipeline route of Russian gas supplies to China, Gazprom says

Negotiations continue over the planned supplies from Russia’s Far East.

Russia led the world for oil and gas discoveries in Q3 2017, GlobalData reports

A total of 30 oil and gas discoveries were made in the third quarter of 2017. Of these, 18 are conventional oil, one is heavy oil, one is unconventional gas, and the remaining 10 are conventional gas, according to GlobalData, a data and analytics company.

Rosneft board agrees on Samotlor development program

Rosneft's board of directors affirmed key parameters for Samotlor field development program.

Gazprom to splurge on EU gas pipe as U.S. weighs penalties

Russia’s natural gas exporter is channeling more money into the fight for market share as the U.S. threatens its biggest European pipeline project with possible sanctions and delivers tankers of fuel to the region.

Russia's upstream projects will require $102.6 billion by 2020, says GlobalData

An average of $34.1 billion per year in capital expenditure will be spent on 1,673 oil and gas fields in Russia between 2018 and 2020, according to GlobalData, a leading data and analytics company.

Drilling Advances

Jim Redden, Contributing Editor

Bigger nail and hammer

Genoil to develop 1.8 Bbbl of reserves in Sakha Republic, Russia

Genoil (GNOLF) has signed an agreement to develop five oil and gas fields in the Sakha Republic (Yakutia), Russia, with recoverable reserves of 1.8 Bbbl. The scale of the project will require $35 billion, with the first phase costing $6 billion, representing a landmark agreement for Genoil.

Novatek acquires Chernichnoye field

PAO Novatek has announced that an agreement was concluded to acquire OOO Chernichnoye from Oil Company “Mangazeya” JSC. The transaction is expected to close in early 2018.

Yamal LNG project begins gas exports

Total announces that the first cargo of liquefied natural gas (LNG) from Yamal LNG is ready to leave Sabetta. This first shipment is a major milestone for Yamal LNG, one of the biggest liquefied natural gas projects in the world.

Putin blesses multi-billion-dollar bet on Russian role in LNG

As Russia’s President Vladimir Putin oversees the official start of a $27-billion liquefied natural gas plant in the snow-covered tundra of northern Siberia, his mind may wander to its biggest competitor more than 3,000 mi away in Qatar.

Novatek acquires South-Khadyryakhinskoye and Eurotek

PAO Novatek has announced the acquisition of AO South-Khadyryakhinskoye and AO Eurotek from AR Oil & Gas BV, joint venture of AO Neftegazholding and Repsol SA.

Yamal LNG commences production

PAO NOVATEK (Novatek) today announced that Yamal LNG has commenced producing liquefied natural gas (LNG) at the first LNG train, with the nameplate capacity of 5.5 million tons per annum.

Petrofac and SOCAR form joint venture

Petrofac’s Training Services business and the State Oil Company of the Republic of Azerbaijan (SOCAR) have signed a Shareholders Agreement to form a Joint Venture (JV) for the pursuit of training opportunities across the country’s oil & gas and petrochemical industries.

Rosneft hedges Russia sanction threat with record debt binge

Rosneft Oil PJSC has racked up more than $17 billion worth of debt in 2017, its biggest year of borrowing on record, as the threat of new sanctions hangs over Russian debt markets.

Russia sees oil-cut extension as consensus with OPEC emerges

Russia’s Energy Minister Alexander Novak expects OPEC and its allies to reach a decision on Thursday to extend their pact to curb oil output as signs of a growing consensus emerged with the cartel’s biggest producer Saudi Arabia.

Countdown begins for OPEC pact as Russia looks beyond oil deal

Russia’s qualms over how far to prolong oil-output cuts with OPEC may reflect a shifting calculus for an economy feeling increasingly hobbled by shackling one of its biggest growth drivers.