Russia & CIS ///

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.

Caspian Sea breakthrough treaty set to boost oil, pipeline plans

Five Caspian Sea states reached a breakthrough agreement on sovereign rights to the sea, paving the way for new oil and gas extraction -- and pipelines -- after more than two decades of disputes.

New products and services

Michele Cowart, World Oil

Plenty-brand screw and vane pumps from SPX Flow are engineered to pump heavy viscous fluids, and are ideal for forced lubrication of rotating machinery and fuel transfer processes.

Yamal LNG begins gas exports from second LNG train

Total announces that the first shipment of Liquefied Natural Gas (LNG) from the second train of the Yamal LNG project in Northern Russia is ready to leave Sabetta.

U.S. sanctions may put Russian oil production at risk

The new U.S. sanctions placed on Russia may put the country’s longer-term crude production potential at risk.

Rosneft sets cash-flow record as Russian oil hits sweet spot

Rosneft PJSC posted record cash flow in the second quarter as Russian oil companies hit a sweet spot of rising crude prices and a weakening ruble.

Lukoil installs wellhead platform substructure at Vladimir Filanovsky field

Lukoil completed transportation and started installation of the substructure for the wellhead platform (mini offshore ice-resistant fixed platform) at Vladimir Filanovsky field, in the Caspian Sea.

Novatek spuds first well at North-Obskiy license area, in Ob Bay

PAO NOVATEK announced that its subsidiary OOO Arctic LNG 3 commenced drilling of the first well at the North-Obskiy license area, in the shallow waters of the Ob Bay. The initial well is drilled using a jackup floating drilling rig, Amazon, leased from Gazprom flot.