Tag Archives: Russia

Russian oil company Lukoil on Monday announced that it has started drilling the first exploration well at Block 12, in Mexico, at a depth of 207 meters. ‘After drilling, the geological and geophysical data will be analyzed to make a decision on further exploration at Block 12,’ the company stated …

The construction of Russia’s first bunkering barge named “Dmitry Mendeleyev” after the great Russian chemist has been completed, Gazprom neft has announced. The vessel is to embark on its maiden voyage to the Baltic shortly. The company intends to start deploying the barge to supply LNG to cargo and passenger …

Russia may reach a record-high level of crude and condensate production in summer 2022, with output expected to reach its peak in 2023, Norway’s Rystad Energy consulting company said in a statement on Friday. “The OPEC+ coalition’s recent agreement to steadily raise oil production is paving the way for Russia …

Export proceeds of Russian state-run energy giant Gazprom saw an enormous increase of 73% from January to June 2021 compared to the same period a year ago, according to Russia’s Federal Customs Service. In monetary terms, the growth amounted to $20.01 billion, while the physical volume of exports totaled 108.4 …

Construction of the Nord Stream 2 gas pipeline is at its final stage, it will be completed in a matter of weeks, Russian ambassador to Germany Sergei Nechaev said in an interview published by the Izvestia newspaper on Monday. “We proceed from the fact that the German-American agreement will not …

Russia’s gas giant Gazprom boosted its natural gas exports to Europe by 23 percent annually in January to July 2021, Gazprom Export said this week. In the first seven months of this year, Gazprom’s gas sales to Turkey and Europe reached 115.3 billion cubic meters, up by 23.2 percent annually, …

Russia’s permanent envoy to international organizations based in Vienna Mikhail Ulyanov voiced hope that Iran will back OPEC+ efforts to maintain stability on the oil market after sanctions against Tehran are lifted, he wrote on Twitter on Wednesday. “Hopefully after lifting of sanctions and restoration of its oil export Iran …

Foreign sales of Russian crude dropped 8% in the first seven months of 2021 compared to the same period a year ago, according to the latest report by the Russian Energy Agency. The country exported 129.104 million tons of crude oil between January and July of 2021. Meanwhile, foreign shipments …

Russia increased oil production in July for the first time in three months, after more generous quotas were extended to the entire OPEC+ alliance. Producers pumped 44.24 million tons of crude and condensate last month, according to preliminary data from the Energy Ministry’s CDU-TEK unit. That’s about 10.46 million barrels …

Russia’s Lukoil PJSC is retracting its decision to sell its stake in West Qurna-2 field in the south to Chinese companies, according to Iraqi state-run newspaper Al-Sabah. Iraq’s oil ministry has been in talks with the company for the last six months to convince it to repeal its decision, and …