Russia & CIS ///

Russia, Poland set goal to restart oil pipeline as tensions linger

Although compensation for damage caused during a contamination crisis remains a sticking point, Russia and Poland said flows of clean oil through the giant Druzhba pipeline into Europe could resume within 2 1/2 weeks.

Russia's Energy Minister Novak says too soon to discuss oil-cut options

Oil producers meeting in Saudi Arabia, must assess the situation in the market before considering possible action such as extending output cuts, Russia’s Energy Minister Alexander Novak told reporters in the Red Sea city.

How one village on the Volga sowed chaos in Europe's oil market

Residents of Nikolayevka haven’t had much to gossip about since the owner of the vodka museum over on People’s Friendship Street died, forcing the closure of the only tourist attraction in town.

Lukoil drills record breaking wells at D41 in the Baltic Sea

Lukoil commenced commercial operation of two wells at D41 offshore field in the Baltic Sea. Construction of one of the wells finished on Feb. 6, 2019, the other was completed on May 7, 2019.

Court battle looms over controversial Nord Stream 2 pipeline

The fate of the controversial Nord Stream 2 pipeline carrying Russian natural gas to Germany is likely to be decided in a courtroom.

Ukraine has sold six petroleum licenses through online bidding

Ukraine's second licensing round took place Thursday on May 2, 2019.

Gazpromneft-Yamal and eDrilling partner to optimize Tyumen drilling operations

eDrilling has announced that it has signed a contract with Gazpromneft-Yamal, a Gazprom Neft subsidiary, for the use of eDrilling’s software to optimize its drilling operations in the Tyumen region.

Russia plans to clean-up pipeline contamination in coming weeks

After a chemical contamination that forced refiners to stop taking crude deliveries, Russia aims to restore normal oil flows through a major pipeline to eastern Europe in two weeks.

Lukoil reaches 100 MMt of oil at West Qurna-2 field

Cumulative production at the West Qurna-2 field has reached 100 MMt of oil as part of successful implementation of Phase 1 of the project.

Gazprom sees output falling as European gas demand declines

Gazprom PJSC forecasts a conservative natural gas production outlook for 2019, based on warm weather and growing competition from Russian-piped super-chilled fuel.

Equinor invests in new platform in Azerbaijan

Equinor and eight partners in the offshore Azeri Chirag Gunashli (ACG) oilfield in the Caspian Sea have made a $6 billion investment decision to build an additional platform in the license area.

BP, partners sanction $6 billion Azeri Central East development offshore Azerbaijan

BP and partners have sanctioned the Azeri Central East (ACE) project, the next stage of development of the giant Azeri-Chirag-Deepwater Gunashli (ACG) oilfield complex in the Azerbaijan sector of the Caspian Sea.

Gazprom Neft develops the Yamalo-Nenets Autonomous Okrug

Gazprom Neft subsidiary Gazpromneft-Zapolyarye has concluded long-term risk-based operator agreements with Gazprom PJSC subsidiaries, allowing the company to start developing Achimov strata at the Yamburgskoye oil and gas condensate field as well as oil-rim deposits at its parent company’s Pestsovoye and En-Yakhinskoye fields.

Turan Drilling & Engineering wins $500 million BP contract in Azerbaijan

Turan Drilling & Engineering Company LLC (A KCA Deutag and SOCAR AQS Company), has announced that it has been awarded its first contract, with BP Exploration (Caspian Sea) Limited (BP).

Caspian Sunrise reports increased production in Kazakhstan

Caspian Sunrise is pleased to update shareholders with developments at its flagship BNG Contract Area.

Gazprom raises gas exports to France by 58% in five years

A working meeting between Alexey Miller, chairman of the Gazprom Management Committee, and Sylvie Bermann, ambassador extraordinary and plenipotentiary of France to the Russian Federation, took place today at the Arctic: Territory of Dialogue 5th International Arctic Forum in St. Petersburg.

Ascent Resources has been approved to install processing plant at Petišovci, Slovenia

The Board of Ascent is pleased to announce that our JV partners have been informed by the Slovenian Environment Agency (ARSO) that it has again approved the permit application (IPPC) for the installation of a processing plant at Petišovci, that the Company and its Slovenian partners originally submitted in June 2014, subject to any further appeal.

Companies in the news

Michele Cowart, World Oil

LUKOIL has commenced drilling new production wells at West Qurna-2 field as part of the second development phase.

Weir, Azerbaijan State Oil and Industry University sign knowledge-sharing MoU

Weir Oil & Gas has announced the signing of a memorandum of understanding with Azerbaijan State Oil and Industry University (ASOIU), a non-profit public higher education institution founded in 1920.

Lukoil has concluded Zhenis block's exploration and development in Kazakhstan

PJSC LUKOIL, the Ministry of Energy of the Republic of Kazakhstan and JSC NC KazMunayGas have concluded a contract for the exploration and development of hydrocarbons on the Zhenis block in the Kazakh Sector of the Caspian Sea.