PJSC Rosneft subsidiary JSC Ryazan Oil Refining Co. (RNPK) has produced the first batch of AI-100 high-octane gasoline at its 18.8 million-tonne/year Ryazan refinery about 120 miles southeast of Moscow.
PJSC Gazprom Neft subsidiary Gazpromneft-Orenburg will drill three additional exploration and appraisal wells on its Uransky license block in Russia. The company reported its plans following a hydrocarbon field discovery in the Novo-Sergievsky and Sorochinsky districts of the Orenburg oblast in southeast Russia near the Kazakhstan border. Novozarinskoe field contains 11 million tonnes of oil in place, according to Gazprom Neft.
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Rosneft and BP will jointly develop oil and gas resources on two licenses in the Yamalo-Nenets Autonomous District of northern Russia encompassing giant Kharampurskoye natural gas and condensate field.
PJSC Gazprom Neft subsidiary Gazprom Neft Badra has commissioned its 1.6 billion-cu m/year natural gas processing plant at Badra field in eastern Iraq (OGJ Online, Aug. 25, 2017).
The full-cycle gas plant, which entered commercial operation on Dec. 6, processes dry feed gas from Badra field, that will be shipped via a 100-km pipeline to the Az-Zubaidiya power station to supply electric power to provinces throughout Iraq as well as to the country’s capital city of Bagdad, Gazprom Neft said.
The fog has been cleared ahead of OPEC’s next policy meeting by Saudi Arabia and Russia declaring their support for extending a global deal to cut oil supplies for another nine months, OPEC’s secretary general told Reuters on Friday.
Saudi Arabia is still aiming to complete both international and domestic portions of the initial public offering of its state oil company in 2018, Oil Minister Khalid Al-Falih said Tuesday.
Asked whether both parts of the IPO will happen next year, Al-Falih said: "Yes of course; it is on track." He declined to answer questions on whether Chinese investors were interested in buying ahead of the IPO as cornerstone investors.
OPEC and Russia have defied the skeptics and their production cuts have eliminated half the oil-inventory surplus, meaning the rebalancing of the market is accelerating, said Secretary-General Mohammad Barkindo.
(Bloomberg) -- Encana Corp. Chief Executive Officer Doug Suttles says drillers in Texas’s prolific Permian Basin can no longer impress investors with how much acreage they’re snapping up or how quickly they’re boosting production.