(Oilprice.com – Simon Watkins – Aug. 10, 2021) There was always something that did not look quite right about Lukoil’s recent announcement that it was going to withdraw from Iraq’s huge West Qurna 2 oil field, located 65 kilometers northwest of the southern port of Basra and with roughly 14 billion barrels of reserves in place. So it has proven, […]
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“Higher energy prices and a weakened rouble saw second-quarter profits soar at three of Russia’s largest oil and gas groups … the country’s energy industry … has weathered international sanctions to reap strong earnings. Gazprom, the world’s largest gas producer, said … second-quarter profits had risen an annual 440 per cent … both exports to Europe and average prices jumped. […]
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(Oilprice.com – Irina Slav – December 5, 2016) #OPEC’s historical deal to cut production has been sealed, and #oil prices have jumped as a result, comfortably above the $50 per barrel mark. According to #Lukoil’s vice president, Leonid Fedun, the average price of crude in 2017 could reach US$60 a barrel, thanks in no small part to that agreement. According […]
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Russia’s oil output set a new post-Soviet era record high in October, rising 0.1 percent from September to 11.2 million barrels per day (bpd), energy ministry data showed …. underscor[ing] the difficulty the government could have in freezing output levels as part of a global pact with other top producers [to impact prices] …. Oil and gas sales account for […]
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(RFE/RL – rferl.org – Bruce Pannier – January 5, 2016) Russia appears to be practicing a bit of “divide-and-conquer” politics in Central Asia, and state-owned Gazprom is spearheading the campaign. On January 4, Russia’s main news agencies quoted a “source” within Gazprom Export, the Gazprom wing charged with handling gas imports from other countries, saying Russia would not be importing any […]
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MOSCOW, January 10 (RIA Novosti) A subsidiary of the Russian oil giant LUKoil has been slapped with a fine of 614 million rubles ($18.5 million), which Greenpeace said appeared to be the biggest such fine in Russia’s history. LUKoil-Komi was fined for nine oil spills from 2011 in Russia’s northern republic of Komi, according to documents available on the […]
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(Interfax -MOSCOW. June 24, 2013) Without the large-scale application of new technologies, oil production in Russia will begin to decline in 2016-2017, says a report by Lukoil (RTS: LKOH) on the main trends in the development of global markets for oil and gas in the period until 2025. A characteristic of a majority of Russian deposits is the natural drop […]
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(Bloomberg – bloomberg.com – Stephen Bierman – March 18, 2013) Fracking isn’t just for shale. In Russia, producers are importing techniques from the U.S. to squeeze billions of dollars of extra oil from Soviet-era fields. TNK-BP, Russia’s third-largest producer, will use hydraulic fracturing combined with horizontal drilling in almost half the wells it sinks this year, a sixfold increase in […]
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