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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.

OPEC gambles with success of production cuts as $80 oil looms

After managing to revive oil prices through production cutbacks, OPEC now risks squandering its victory again by letting crude surge too high.

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.

OPEC+ learns from past as new oil cutbacks hit the mark

If there’s one conclusion to be drawn from oil’s return to $70/bbl, it’s that OPEC has learned from its mistakes.

Russia expands LNG operations in Arctic

About 1,500 mi from Moscow, the port of Sabetta on the Russian Arctic peninsula is the site of Russia’s most ambitious LNG project.

Russia falls short of OPEC+ production cut target

Russia fell short of its oil-output cut under the OPEC+ deal in March even as the country deepened its curbs.

Lukoil appoints Sergey Kochkurov as V.P. , names additional leaders

Lukoil has made changes in its leadership team.

Gazprom names Oleg Aksyutin as deputy chairman

A number of changes have taken place in the composition and functions of the Gazprom leadership.

Russian production cuts raise crude to best first quarter since 2002

Futures rose as much as 2.4% in New York on Friday before paring some of those gains. Russia deepened its output cuts and Energy Minister Alexander Novak said he will discuss their extension a day after it was reported Russia had been considering letting them lapse in September.

Gazprom Neft, Schlumberger develop cooperation agreement in well-logging technology

Gazprom Neft and Schlumberger made an agreement on technological cooperation in well logging. The document was signed by Vadim Yakovlev, first deputy CEO, Gazprom Neft, and Sergey Slyusenko, managing director, Gazpromneft-Noyabrskneftegazgeofizika and Gokhan Saygi, president of Schlumberger RCA.

Tenaris to acquire IPSCO Tubulars from TMK $1.2 billion

Tenaris S.A. has announced that it has entered into a definitive agreement to acquire from PAO TMK, a Russian company and manufacturer of steel pipe, 100% of the shares of its wholly owned U.S. subsidiary IPSCO Tubulars, Inc., for $1,209 million, on a cash-free, debt-free basis, which includes $270 million of working capital.

Gazprom launches full-scale development in Yamal Peninsula

A ceremony was held In the Yamal-Nenets Autonomous Area to mark the launch of full-scale development of the Kharasaveyskoye field.

OPEC+ affirms commitment to oil cuts, defers decision to extend

Saudi Arabia led fellow members of the OPEC+ coalition to reaffirm their commitment to output cuts, but conceded they should defer until June the decision on whether to extend the curbs.

Lukoil reaches another milestone at Vladimir Filanovsky field

Lukoil has reached another milestone with 10 million tonnes of oil supplied from its Vladimir Filanovsky field to the Caspian Pipeline Consortium (CPC) system.

Saudis head to OPEC+ talks reluctant to do Trump's bidding

Four months ago, Saudi Arabia’s devotion to its decades-old oil partnership with the U.S. was stronger than ever.

Gazprom’s natural gas supplies to Austria increase 33% in 2019

During a meeting between Alexey Miller, Gazprom Management Committee, and Rainer Seele, chairman, OMV, the parties reviewed current issues related to the growth of natural gas exports to Austria.

Maduro gets oil lifeline from Russia after U.S. sanctions hit

Just as Venezuelan state-run oil company PDVSA was running out of an obscure product needed to thin out its crude and keep exports flowing in the wake of U.S. sanctions, Russia is coming to the rescue.

Total signs definitive agreements for entry into Arctic LNG 2

Total announces that it has signed the definitive agreements with Novatek for the acquisition of a direct 10% interest in Arctic LNG 2, a major liquefied natural gas development led by Novatek on the Gydan Peninsula, Russia.

Russia cuts February output deeper to comply with OPEC pact

Russia’s oil producers cut their output deeper in February as the nation strives to implement an agreement with OPEC following criticism that it was moving too slowly.

Liebherr modernizes Sakhalin Energy's Molikpaq offshore platform in Russia

Liebherr's maritime customer service is carrying out an extraordinary modernization project on Sakhalin Energy’s Molikpaq offshore platform off the Russian island of Sakhalin.