Digest

The enterprises of the TATNEFT Group of Companies produced 2, 526 thousand tonnes of crude oil in December 2019, while the production volume for twelve months amounted to 29, 798 thousand tonnes, which was 264 thousand tonnes more than during the similar period in 2018. PJSC TATNEFT’s ...

Following the strategic partnership Tehran inked with Beijing earlier this year, China has moved to ramp up oil production in Iran’s prolific West Karoun area. The supergiant Azadegan oil field, comprising major north and south sites, is as important to Iran’s overall strategic ...

According to preliminary estimates, oil production in Russia in 2019 will suprass last year's rates and will reach 556-560 million tonnes, Russian Energy Minister Alexander Novak said in an article published in the Energeticheskaya Politika (Energy Policy) magazine. "Despite ...

Both the US and China are vying for influence in Iraq, and most importantly, to gain control over giant oil fields such as the Qurna-1 field that’s just 50 kilometres away from oil hub Basrah. Ever since the US signalled through its effective withdrawal from Syria that it now has ...

Abu Dhabi. Russian oil major Lukoil is not considering buying shares in Saudi Aramco as part of the Saudi company’s IPO, head of the Russian company, Vagit Alekperov, told reporters on the sidelines of the ADIPEC oil and gas conference in Abu Dhabi. "We are not considering it ...

California Governor Gavin Newsom called a widespread electricity shutdown triggered by a power company to prevent wildfires “unacceptable, ” saying on Thursday it resulted from years of mismanagement by the utility. Pacific Gas and Electric Co (PG&E) has imposed unprecedented ...

Earlier, Saudi Aramco’s CEO said that last month’s attacks on the country’s oil facilities had galvanised the company to quickly rebuild and to come out of the incident “stronger than ever. ” Saudi Aramco Chief Executive Officer Amin Nasser has announced the time ...

U. S. oil company Chevron Corp (CVX. N) is turning to joint ventures and drilling alliances in its bid to dominate the Permian Basin after abandoning a takeover that would have made it the leading producer in the world’s biggest shale field. It is now in a race with Exxon Mobil (XOM. N) ...

The Russian Arctic National Park registered a record high number of visitors over the summer season in 2019. According to the park’s Director Alexander Kirilov, the park welcomed 1, 306 visitors in 2019, against 1, 079 a year earlier. "The tourist season in 2019 is over at the ...

This year, Russia provided record supplies of gas to the European market to meet the region’s growing demand. But some nations, particularly the US, Poland and the Baltic states, still insist Europe can do without Russian energy. Here are the key Russian pipelines supplying oil and ...

Saudi Arabia’s ability to avert a global oil supply crunch will only become clear in a few weeks, because for now its crude held in storage can fill the gap and mask the scale of damage to its facilities, traders and analysts say. Riyadh says production will be back to normal levels in ...

Houthi drone attacks on two major Saudi Aramco facilities, including the largest crude stabilisation plant in the world, have sparked concerns over the attacks’ impact on global oil prices, with the oil-rich country confirming that about half of its production, accounting for about 6 ...

Deeper oil-production cuts aren’t on the agenda as OPEC+ ministers gather in Abu Dhabi, but there’s growing concern about the strength of fuel demand as the global economy slows. Crude has lurked in the low $60s for most of the summer as escalating tensions between the U. S. and ...

Melbourne. With a giant gas project expansion in the tropical highlands of remote Papua New Guinea bogged down by politics, the country’s biggest company, Oil Search (OSH. AX), is turning for growth to the other side of the world in Alaska’s frozen wilderness. Australia-listed ...

Arkhangelsk. The Arctic Floating University on board the Professor Molchanov research vessel on Friday returned to Arkhangelsk from a voyage, which finished the Trans Arctic 2019 expedition. The expedition’s leader Olga Gripas told TASS the voyage route took the explorers to the White ...

The Nord Stream 2 pipeline continues to face challenges, and after receiving permits from the Baltic States, now Denmark seems to be the last bottleneck. Large energy projects tend to be controversial due to environmental and political reasons. Nord Stream 2 (NS2) is not an exception as it ...

Moscow. Oil companies are under increasing pressure to bring fuel to market faster and cheaper, leading BP Plc to conclude some of its resources “won’t see the light of day, ” according to its head of strategy. Some of the “more complicated to extract” resources ...

Fracking has been an “unmitigated disaster” for shale companies themselves, according to a prominent former shale executive. “The shale gas revolution has frankly been an unmitigated disaster for any buy-and-hold investor in the shale gas industry with very few limited ...