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"Oil of Russia"

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Countries-members of OPEC agreed to cut oil production after several days of difficult negotiations in Vienna. OPEC on Friday approved the reduction of oil production by 1.2 million barrels per day, assuming that OPEC will cut production by 800 thousand, and the allies that are not members of OPEC, including Russia (OPEC+), will cut production by 400 thousand barrels per day, said the delegates participating in the meeting. This is less than in previous times under the agreement at the end of 2016 to cut production by 1.8 million barrels. the Agreement will be valid in the first half of 2019, and in April, OPEC members+ will assess the possibility of extending the deal. the Deal was reached after Iran was granted a waiver to reduce production because of the...

At the Novoportovskoye field of "Gazpromneft-Yamal" produced 9.9 million tons of oil equivalent (ad). In 2018, the level of production of oil equivalent in the Arctic fisheries increased by 40% compared to the previous year. Early implementation of the annual business plan was made possible thanks to improved technology of the entire production chain: introduction of innovations in the field of extraction of hydrocarbons, well construction, infrastructure and transportation of raw materials. At the Novoportovskoye field is developed 6 productive formations, where it is concentrated the bulk of oil reserves. In 2018, the average daily production is 19.6 thousand tons of oil. In operation 227 wells, 27 of which are multi-stemmed. Built 20 wells with records...

OOO LLK-international (100% subsidiary of JSC "LUKOIL") registered in the Kingdom of Morocco the company LUKOIL Lubricants Africa S. A. R. L., established for doing business in the States of Western and Northern Africa. With the assistance of the trade representation of the Russian Federation in the Kingdom of Morocco, the company also held several business meetings with representatives of large business in the region, and heads of relevant ministries and departments of the country. "the emergence of the subsidiaries in Africa was a logical continuation of the international expansion of the lubricants business for LUKOIL. On the continent, is the vigorous growth of the industry, fleet, and therefore the consumption of lubricants. This allows us to...

OOO LLK-international (100% subsidiary of JSC "LUKOIL") has become the new technology partner of the company Blount, the world's leading manufacturer of equipment and consumables for the logging and gardening sector. In the factories of LUKOIL in Russia begins production of a wide range of lubricants under the brand OREGON. The range will cover all types of oils for two-stroke and four-stroke engines of small machinery, chain oil for petrol and electric saws, as well as products for the lubrication of chains and tires harvesters (harvesting combines). "the Joint project with Blount was another interesting challenge. Previously we have produced original oil exclusively for automakers. LUKoil and Blount was able to bring a fresh perspective to the solution of...

5 December "Gazprom" has launched a third gas field (GP-3) a giant Bovanenkovskoye oil and gas condensate field is the main subject of peak gas this winter. the Command to run the fishery on a teleconference with the Yamal Peninsula was given by the President of Russia Vladimir Putin, the correspondent of "Interfax" from the suburban residence of the Russian President. start of the third gas facility will increase the peak level of production in the field with 264 million to 317 million cubic meters of gas per day. It is more than 20% peak capacity "Gazprom" for this winter (1527 million cubic meters per day). Bovanenkovo oil and gas condensate field is the largest on the Yamal Peninsula in proven reserves. Proven and estimated reserves of gas are estimated...

5 December thirteenth annual conference "offshore oil and gas Contracts" (Neftegazshelf-2018) – traditional meeting of oil and gas workers with their contractors and suppliers. 5 December thirteenth annual conference "offshore oil and gas Contracts" (Neftegazshelf-2018) – traditional meeting of oil and gas workers with their contractors and suppliers. the event was attended by representatives of companies: Gazprom, Gazprom Neft shelf, LUKOIL, NOVATEK and Sakhalin energy investment company LTD., AMNGR, Atomflot, Rosnefteflot, Oka shipyard, Gazprom drilling, Technip FMC, ERIELL Group, NOV, Airline Volga-Dnepr, CHTPZ, GMS Neftemash, ABB, Deloitte and others. At the conference "Neftegazshelf-2018" announced results of the annual direct survey oil and gas...

The President of JSC "LUKOIL" Vagit Alekperov and the Chairman of the Board of JSC NC "KazMunayGas" Alik Aidarbayev signed the agreement on joint activities and the funding for the project "Zhenis" in the Kazakh sector of the Caspian sea. The documents outline the conditions of development of the block. the Next step will be negotiations with the competent authority of the Republic of Kazakhstan for obtaining of subsoil use rights on the specified unit. is a New project in the Caspian sea is an important step in expanding the resource base of strategic importance for LUKOIL the region accumulated a considerable competence. the Plot of "Zhenis" is located in the southern part of the Kazakhstan sector of the Caspian sea. Distance to the coast is 80 km, the...

Qatar intends to leave the Organization of countries-exporters of oil (OPEC). This was announced at a press conference in Doha, state Minister for energy of Qatar Saad bin Sherida al-Kaabi. His remarks are given on the official Twitter page of the state oil company of the country of Qatar Petroleum. "Qatar decided to withdraw from OPEC membership in January 2019," – said the head of Department. He also added that the leadership of OPEC was notified on 3 December. According to him, the decision on withdrawal from OPEC reflects the desire of Qatar to concentrate their efforts on plans to increase natural gas production from 77 million tonnes of liquefied gas a year to 110 million tons in the coming years. "the Implementation of our ambitious growth strategy...

Gas Production in Russia increased in January – November 2018 5% compared to the same period last year and amounted to 658,109 billion cubic meters. This is stated in the materials of the Central Supervisory control energy (CDU TEK). the extraction of gas in November was $ 62,671 billion cubic meters. At the beginning of December last year, the head of the Department of production and transportation of oil and gas, the Russian energy Ministry Alexander Gladkov said that the energy Ministry expects gas production in Russia in 2018 at a level of about 690 billion cubic meters. At the beginning of April this year, energy Minister Alexander Novak said that the Ministry of energy expects gas production in Russia in 2018 on the same level as last year – 691,1...

, OAO "Yamal LNG" has shipped the hundredth tanker load of liquefied natural gas (LNG) – less than a year since deliveries began in December 2017. one Hundredth tanker lot was shipped from the LNG plant on a gas carrier ice class Arc7 "Fedor Litke", the total volume of LNG from the project amounted to 7.4 million tons. , OAO "Yamal LNG" implements the project of construction of plant on production of liquefied natural gas (LNG) on the resource base of South Tambeyskoye field with a capacity of 17.4 million tons per year, including three lines with a capacity of 5.5 million tons per year each, and one line with a capacity of 900 thousand tons per year. The first production line started production in 4 quarter of 2017, second and third lines in July and...

In January-November 2018 in Russia produced 507,37 million tonnes of crude oil and gas condensate, which is 1.4% more compared to the same period of 2017. A day on the Russian fields produced 11.13 million barrels. In November, production grew 3.9% (yoy), to 46,53 million tons, reports "Interfax" with reference to data of the fgbi "CDU TEK". Expiry oil in the far abroad countries in 2018 fell to 218,03 million tonnes (0.8%). A daily average of exported of 4.78 million barrels. the Volume of gas production for 11 months increased by 5% to 658,11 billion cubic meters. In November it was produced 62,67 billion cubic meters of gas (growth by 2.7%). Earlier it was reported that the economic Commission of OPEC proposes to reduce the volume of oil production by...

Oil Production in the Tyumen region by the end of 2018 is expected to reach 12.9 million tons, 18% more than in 2017, reported the Agency "Interfax-Ural" in the regional Department of subsoil use and ecology. the Volume of produced associated gas in the current year may rise to 486 million cubic meters or 26% more than in the previous year. "the Growth in hydrocarbon production is associated with the restoration of planned production volumes, reduced in 2017 under an agreement Russia agreement OPEC+", – said the representative of the Department. Source: Interfax

The OPEC Secretariat encouraged the countries of the cartel to cut oil production next year by 1.3 million barrels per day compared to October 2018, was announced on Friday by Bloomberg, citing sources in the organization. On this volume should cut production to bring the balance of supply and demand to balance, believe in OPEC. Weakening oil demand and rapid growth of shale oil in the US are the main reasons for the reduction in the production of oil. However, Ministers do not always exactly listen to the recommendations of the Secretariat, the Agency said. OPEC in October produced 32.9 million barrels of oil a day, which is 0.6 million barrels more than in January. The increase was mainly due to Saudi Arabia. the recommendation will be submitted to the...

5th conference on operational efficiency in the petrochemical industry Op-Ex Russia & CIS 2018 was held in the three-day format from 14 to 16 November in Sochi. For the second consecutive year the co-organizers of the event were the company "Rosneft" and "Gazprom Neft". the Conference brought together more than 100 representatives of companies-manufacturers of petrochemical products and leading suppliers of technologies, services and solutions to discuss critical issues related to operational efficiency. During a conference Op-Ex was considered the best approach to achieving a high level of operational efficiency and best practices, tools and solutions to improve reliability, profitability and process integrity of the assets. Leading oil and gas, as well as...

International rating Agency S&P raised the long-term credit ratings in foreign and national currencies "NOVATEK" to "BBB" from "BBB-". About it reported in a press release from the Agency. the rating Outlook is stable. "the upgrade reflects the strong creditworthiness of the company, enabling it to absorb high investment and an increased dividend. "Stable" forecast reflects our expectations of strong credit ratings of "NOVATEK", – stated the message. Source: TASS