Russia & CIS ///

Fluor JV creates one of the world's largest plant designs for megaproject in Kazakhstan

Fluor Corporation has announced that its JV team, KPJV, has developed one of the world’s largest, single 3D intelligent plant design models for Tengizchevroil LLP’s future growth project.

ADNOC signs framework agreement with Uzbekistan gas producer

ADNOC signed a framework agreement with Uzbekneftegaz, a joint stock company of Uzbekistan's oil and gas industry, under which ADNOC will provide strategic advice in relation to upstream and downstream operations.

Global oil and gas leaders discuss evolving energy landscape

Twenty-six of the world’s leading oil and gas sector leaders gathered in Abu Dhabi on Sunday, for a high-level industry forum focused on the evolving dynamics of the energy landscape, and the opportunities for hydrocarbon-produced energy to support global growth, today, and in the future.

OPEC, allies move closer to oil cuts as bear market adds urgency

OPEC and its allies started laying the groundwork to cut oil supply in 2019, reversing an almost year-long expansion, with Saudi Arabia reasserting its role as swing producer by announcing fewer shipments from next month.

Russian oil may gain a lot by giving a little on OPEC U-turn

Russia’s oil industry is feeling the pressure of a possible return of production caps. In fact, by sacrificing a fraction of output, the companies could see their stocks rise.

PetroNeft reports drilling results at Cheremshanskoye field, Russia

PetroNeft has announced that cased-hole testing of the J1-1 and J1-3 intervals of the Cheremshanskoye No.4 (C-4) well in Licence 67 has confirmed the excellent results from the open-hole testing reported on Aug. 28.

Wood, Nobel Oil enter engineering and support JV in Azerbaijan

Wood and Nobel Oil have entered into a joint venture (JV) agreement to provide engineering and operations support services to the oil and gas market in Azerbaijan.

Companies in the news

Michele Cowart, World Oil

Norway’s largest and longest pipeline, laid by the vessel Saipem Castorone, has reached Johan Sverdrup field.

First oil

Kurt Abraham, World Oil

A job done well

Crude tumbles most in seven weeks as American stockpiles swell

Oil dropped from the highest price in almost four year amid signs of a growing crude surplus in the world’s biggest economy.

Putin tells Trump to "look in the mirror" when placing blame for high oil prices

Russian President Vladimir Putin said his American counterpart’s Iran sanctions are largely to blame for current high oil prices.

Block Energy contracts drilling, workover equipment for multi-well program in Georgia

Block Energy Plc, the exploration and production company focused on the Republic of Georgia, has announced that it has signed an agreement with JSC Norio Oil Company (JSC NOC), a Georgian drilling contractor, and Georgia Oil and Gas Ltd. (GOG), a British Virgin Islands company and owner of drilling equipment in the Republic of Georgia, for the supply of drilling and workover equipment for the Company’s 2018-2019 work programs across its Georgian license base.

New products and services

Michele Cowart, World Oil

Weatherford International introduced its Rotaflex long-stroke pumping unit that improves artificial lift efficiency in deep, high-volume and high gas-to-liquids wells.

Rosneft, CNPC agree on wider E&P cooperation

Rosneft and the Chinese National Oil and Gas Corporation (CNPC) signed the Agreement on Cooperation in Exploration and Production in the Russian Federation in the framework of the IV Eastern Economic Forum.

Gazprom Neft, CNPC partner to develop enhanced oil recovery technologies

Gazprom Neft and China National Petroleum Corporation (CNPC) have entered into a technical partnership at the Eastern Economic Forum. The document was signed by Alexander Dyukov, chairman of the Gazprom Neft management board, and Wang Yilin, chairman of CNPC.

Lukoil expands production capacity at Yarega field

Lukoil has commissioned a steam generation farm at Yarega field of highly viscous oil in the Republic of Komi. The facility is to build up production as part of Yarega area Phase 2 development.

Russia's gas giant surpassed by its smaller rival

Imagine a decade from now, U.S. giant Exxon Mobil Corp. has been knocked from its perch as the world’s largest oil company by its rival from tiny Portugal -- about 20 times smaller. It seems unlikely, but something equally strange has just happened in Russia.

Gazprom Neft, Mubadala Petroleum and RDIF to jointly develop oil fields in Western Siberia

Gazprom Neft, Mubadala Petroleum and the Russian Direct Investment Fund (RDIF, the sovereign wealth fund of the Russian Federation) have announced the completion of a transaction establishing a joint venture to develop oil fields in the Tomsk and Omsk Regions of Western Siberia.

PetroNeft reports successful coring, logging operations at Cheremshanskoye No. 4 well

PetroNeft, an oil and gas exploration and production company operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licenses 61 and 67, has announced that it has successfully cored, logged and open-hole tested the J1-1 and J1-3 intervals of the Cheremshanskoye No.4 (C-4) well in License 67.

LNG heads out the door as Asia outbids European utilities

Northwest European liquefied natural gas terminals are for the first time exporting more of the fuel than they are feeding into the region’s pipeline networks.