Oil and Gas service

Bugulma. Professionals of TATNEFT’s TatNIPIneft have developed a pumping unit for lifting production of the wells without the use of tubing, therefore reducing the cost of crude oil production through the application of a new equipment package. The unit allows performing well repairs ...

Krasnoyarsk. The Nord Stream 2 gas pipeline project will be implemented because the EU needs it as much as Russia, Deputy Prime Minister Arkady Dvorkovich told reporters on the sidelines of the Krasnoyarsk Economic Forum on Friday. "We expect this project will be implemented. It is a ...

Delhi. Iranian Oil Minister Bijan Zanganeh said on Wednesday $60 per barrel is a good price for oil, as the market should avoid volatility. “I believe that in this situation around $60 per barrel is a good price, ” said Zanganeh, who was speaking at the International Energy ...

Riyadh. The Abu Dhabi National Oil Company (ADNOC) announced as part of Abu Dhabi’s first ever block licensing strategy and on behalf of the Supreme Petroleum Council (SPC), the details of the initial round of six geographical oil and gas blocks open for bidding. This follows the ...

St. Petersburg. The Russian Energy Ministry of Russia is confident in the implementation of the project for construction of the Nord Stream-2 gas pipeline, Russian Energy Minister Alexander Novak told reporters on Thursday. "Systematic work to obtain the necessary permits from ...

London. The UK government could be on its way to ratify a massive support package—dubbed a sector deal—with the North Sea oil and gas industry, Scottish Secretary of State David Mundell told local Press and Journal. "The package could be worth in excess of $1. 4 trillion (1 ...

Moscow. Finland is not going to change its stance on the construction of Nord Stream-2 gas pipeline, Finnish Ambassador to Russia Mikko Hautala told TASS. He reiterated that Finland had granted permit to Nord Stream 2 AG, the project’s operator, to use its exclusive economic zone for ...

Riyadh. Saudi Aramco will sign eight deals worth $10 billion with French firms on Tuesday, the chief executive of the state-run oil giant said on Monday — the main contracts expected to be sealed during Crown Prince Mohammed bin Salman’s visit to France. The crown prince, who is ...

Ottava. Kinder Morgan Canada Limited (KML) on Sunday suspended most work on a $5. 8-billion oil pipeline expansion that has become the focus of protests, a move underscoring uncertainty over major energy projects in Canada. KML Chairman Steve Kean said he would scrap plans to nearly triple ...

Moscow. Russian President Vladimir Putin and German Chancellor Angela Merkel confirmed positions of both countries in respect of the Nord Stream 2 gas pipeline project in a telephone conversation, press service of the Kremlin said on Monday. "The position of Russia and Germany in ...

Moscow. Russian Energy Minister Aleksandr Novak said the country is considering an option of payments for oil in national currencies, in particular with Turkey and Iran. According to him, both countries are interested but there is also a matter of conversion of currencies and their ...

Viena. Austrian energy group OMV said it has reached an agreement with Abu Dhabi National Oil Company to acquire a 20% stake in the concession for two offshore oilfields in the UAE. As per the deal, the Austrian firm will buy the stake in Satah Al Razboot (with the satellite fields Bin ...

Moscow. Exports of gas to CIS and non-CIS countries through the gas transportation system of Russia will reach about 210-220 bln cubic meters in 2018, the volume of supplies to the domestic market will remain at the same level, Russian Minister of Energy Alexander Novak told reporters. ...

Moscow. Alexey Miller, Chairman of the Gazprom Management Committee, and Anatoly Chubais, Chairman of the Executive Board of RUSNANO, held a joint meeting on the use of nanotechnologies in the interests of Gazprom. Taking part in the meeting were top executives of the two companies, ...

Moscow. Capital investments of companies in 2018 in oil production will amount to 1. 3 trillion rubles ($22. 48 bln), Russian Minister of Energy Alexander Novak told reporters. "We focus on 1. 3 trillion rubles ($22. 48 bln) of capital investment by vertically integrated companies in ...

London. If the UK had established in the 1980s a wealth fund in which to invest North Sea oil revenues—similar to what Norway actually did in the 1990s—a UK fund would be worth more than $703 billion (£500 billion) today. That's the conclusion of a progressive UK ...

Moscow. The Finnish government said on Wednesday it had given its consent for construction of the Nord Stream 2 pipeline through its exclusive economic zone. "On 5 April 2018, the Finnish Government gave its consent to the Nord Stream 2 AG’s gas pipeline construction project ...

Moscow. OPEC crude production dropped to the lowest in a year amid the woes facing Venezuela’s oil industry. Output from 14 members of the Organization of Petroleum Exporting Countries fell by 170, 000 barrels to 32. 04 million barrels a day in March, according to a Bloomberg News ...