Miroshnichenko Named MD at Gazpromneft
Roman Miroshnichenko has been appointed as Managing Director of Gazpromneft Marine Lubricants, the new operating company.Roman Miroshnichenko has more than 20 years of experience in the marine industry, and specifically in the field of marine lubricants. His career in the structure of Gazprom Neft started in 2011, when he took the position of the director of Gazpromneft-Lubricants branch in St. Petersburg and headed a new business line for production and sale of marine lubricants. Under Roman Miroshnichenko guidance…
Russian Oil Output Down in October
Russia lowered its oil output to 11.23 million barrels per day (bpd) last month from 11.25 million bpd in September, missing again its obligations under a global pact to curb production, energy ministry data showed on Saturday.The Organization of the Petroleum Exporting Countries, Russia and other producers - a group known as OPEC+ - have since January implemented a deal to cut oil output by 1.2 million barrels per day to support the market.According to Reuters calculations, which use a tonnes/barrel ratio of 7.33,…
Novatek Launches Arcticgas
Russia's second-largest natural gas producer Novatek announced that Arcticgas, a joint venture between Novatek and PAO Gazprom Neft, commenced commercial production at the East-Urengoyskoye+North-Esetinskoye field within the Samburgskiy license area.It has an estimated annual production capacity of more than one (1) billion cubic meters of natural gas and 0.2 million tons of gas condensate. The new production capacity is located in close proximity to the Company’s existing infrastructure, which allowed Novatek to quickly…
Tax Breaks Approved for Russia's Largest Oilfield
Russia's finance ministry has in principle approved tax breaks for developing the Priobskoye oilfield, Russia's largest, to oil giants Rosneft and Gazprom Neft, Alexei Sazanov, head of the ministry's tax department said on Thursday.He added that tax breaks for the oil companies could last for 10 years but no start date had yet been agreed.Sazanov told reporters Russia's budget should be compensated for revenue it will lose due to the tax breaks for Priobskoye and the finance ministry proposed to introduce a mineral extraction tax (MET) for associated petroleum gas (APG) for the oil industry, but no political decision on MET had been made.The
Gazprom Neft, USC Join for LNG Project
Russian oil producer Gazprom Neft, Gazprom gas-engine fuel, and the United Shipbuilding Corporation (USC) have concluded a tripartite cooperation and strategic partnership agreement on developing a liquid natural gas (LNG) fleet and related infrastructure.The memorandum was signed by Gazpromneft Marine Bunker Acting CEO Alexei Medvedev, Gazprom gas-engine fuel, Director General Oleg Melekhin, and USC President Alexey Rakhmanov.The agreement envisages the parties cooperating in research and development activities directed at creating production capacity both for building vessels running on LNG, and in developing LNG infrastructure.
Gazprom, Kogas for Tighter LNG Cooperation
Russian oil and gas company Gazprom Neft has announced that a working meeting has been held between Alexey Miller, Chairman of the Gazprom Management Committee, and Hee-Bong Chae, President and Chief Executive of KOGAS.The meeting participants reviewed the state and prospects of cooperation between the companies, highlighting the stability of LNG supplies under the contract between Sakhalin Energy Investment Company Ltd. and KOGAS.The parties expressed interest in further expanding their cooperation in the area of LNG…
Gazprom Neft Expands to Siberia
Russian oil producer Gazprom Neft has secured hydrocarbon exploration, development and production rights to the Leninsky license block in the Gydan Peninsula.The Leninsky license block is located in the Gydan Peninsula in the Taymyrsky district of the Krasnoyarsky Krai, bordered on one side by the Tazovsky district of the Yamalo-Nenets Autonomous Okrug and on the other by the Kara Sea.The total size of the block is 3,650 square kilometres. According to the State Register of Mineral Reserves, reserves in place stand at 110 million metric tons of oil equivalent.
Oil Production Starts at Yaro-Yakhinskoye
PAO NOVATEK announced Thursday that commercial crude production has begun at the Yaro-Yakhinskoye field developed by Arcticgas, a joint venture between NOVATEK and Gazprom Neft.The field’s crude oil production capacity is estimated at 1.2 million tons per annum.NOVATEK’s Chairman of the Management Board Leonid Mikhelson said, “The launch of the crude oil program at Arctigas’ Yaro-Yakhinskoye field will make a significant contribution to the company's liquids production growth.”To start crude oil production, oil and gas gathering systems…
Gazprom Oil Touch 100mln Barrels at Badra
Russian oil producer Gazprom Neft said that its subsidiary Gazpromneft-Badra has now produced 13.5 million tonnes — or 100 million barrels — of oil in Iraqi oil field.Cumulative production at the Badra field in the five years since this asset went into commercial operation has reached 100 million barrels — the first shipment of liquid hydrocarbons having taken place in 2014. Oil production at the field stands at more than 1.8 million tonnes (13.5 million barrels) since the start of 2019.Twenty-two operating wells, each running to an average depth of 4,500 meters, have been drilled by Gazpromneft-Badra since discovering this asset.
Gazprom Neft Considering Arctic LNG Production
Gazprom Neft, the oil arm of Russian gas giant Gazprom, is studying the possibility of its own liquefied natural gas (LNG) production in the Arctic as it tries to monetize its vast natural gas reserves.The discussions follow the successful launch of the Arctic-based Yamal LNG plant, controlled by Novatek, in December 2017.
Gazprom Neft Sees 2019 Investment at $5.6 Bln
Russian oil producer Gazprom Neft said on Monday that it expected its 2019 investment excluding joint ventures to total 374 billion roubles ($5.62 billion).It said it expects its 2018 hydrocarbons output to stand at 92.8 million tonnes of oil equivalent in 2018, up 3.4 percent from last year.($1 = 66.5330 roubles)(Reporting by Vladimir Soldatkin; writing by Tom Balmforth; editing by Jason Neely)
Gazprom Neft, Zyfra to Develop Digital Products
Oil company Gazprom Neft and tech firm Zyfra agreed to set up a joint venture to work on developing digital products for management of industrial processes.A preliminary agreement on this was signed by Andrey Belevtsev, Director for Digital Transformation at Gazprom Neft, and Igor Bogachev, CEO of ZYFRA, at the St Petersburg International Economic Forum.The collaboration will be focused on developing digital services for integrated planning, operational planning and record keeping at oil refineries, monitoring and product…
Gazprom Neft, Schlumberger Partner on Well Logging
Gazprom Neft and Schlumberger have agreed to enter technological cooperation in well logging. “Gazprom Neft is committed to developing its scientific, intellectual, staffing and technological capabilities, supporting a collaborative ecosystem and building an inclusive innovation-focused environment,” siad Gazprom Neft First Deputy CEO Vadim Yakovlev.The parties will join the expert potential of Schlumberger and hands-on experience of Gazpromneft-Noyabrskneftegazgeofizika (Gazpromneft-NNGGF, a Gazprom Neft subsidiary)…
Gazprom, Sovcomflot Pact on LNG Bunkering
Russian shipping company Sovcomflot and compatriot oil producer Gazprom Neft Marine Bunker have signed an agreement to cooperate on projects for bunkering ships with LNG fuel.The agreement was signed by Igor Tonkovidov, Executive Vice President and CTO/COO of Sovcomflot, and Andrey Vasiliev, CEO of Gazprom Neft Marine Bunker.Sovcomflot said that the agreement reinforces the mutual interest of both parties regarding their cooperation in the bunkering of Sovcomflot’s tankers with LNG fuel.Compared to conventional marine fuels…
Austria's OMV Stands by Iran Project - Upstream Chief
Austrian energy group OMV said on Tuesday it had not halted its planned Iranian energy projects despite the U.S. withdrawal from an international nuclear agreement, but it had made no investments there yet.The group was monitoring political developments in the United States and the European Union very closely, said upstream chief Johann Pleininger at the annual shareholders' meeting in Vienna."The project has not come to a standstill, it is continuing," Pleininger said, adding that "no investments have been made yet."OMV…
Gazpromneft Issues Tender for Novy Port Crude Oil Loading in Sept 2018
Gazpromneft issued a spot tender on Friday to sell a cargo of light sweet Novy Port crude oil loading from Murmansk port in September, traders said.The producer is offering 100,000 tonnes of Novy Port crude oil loading from the RPK-Nord offshore terminal in the Murmansk port area on September 16-29, subject to weather conditions, traders added.Tender participants are invited to offer premiums to dated Brent quotes on a CIF Rotterdam basis.The tender closes on August 14 at 1200 London time (1100 GMT).
LNG Bunkering to Grow at CAGR of 62.50% CAGR to Reach $247bn in 2023
The global liquefied Natural Gas (LNG) bunkering market is expected to witness a CAGR of 62.5% over the forecast period 2017-2023, and is projected to reach USD 24,684.7 million by 2023.The key factors driving the growth of LNG bunkering market are increase in LNG demand in order to reduce the carbon footprint in the shipping industry stringent international emission policy, the best cost- effective alternative fuel and significant rise in government initiatives supporting LNG adoption.According to a research report from Energias Market Research…
Gazprom Neft Cuts Output Forecast Iraq Oilield
Russian oil producer Gazprom Neft has made a further cut to its forecast for the level at which output will plateau at the Badra oilfield in Iraq, the company said on its website on Thursday.The post cited comments made by Deputy Chief Executive Vadim Yakovlev in an interview with media outlet Energy Intelligence, saying average production will plateau at 80,000 bpd this year.The plateau for the next few years was previously expected to be 85,000 bpd.(Reporting by Vladimir Soldatkin Editing by David Goodman)
Russian Energy Firms Discuss Cooperation Saudi Aramco Chief
The head of Russian oil giant Rosneft, Igor Sechin, and Saudi Aramco Chief Executive Amin Nasser held talks in Moscow on Friday on areas for cooperation, Rosneft said.Rosneft, the world's largest-listed oil producer by output, said in a brief statement that they "discussed a wide range of issues related to mutual interests and prospects for cooperation between Rosneft and Saudi Arabia".Nasser had said in an earlier statement during his visit that Aramco's relationship with Russia would grow with the projects in which they were cooperating.Gazprom Neft…
NIS Reports 30% Fall in Q1 Net Profit
Serbian oil company NIS , majority owned by Russia's Gazprom Neft, on Friday reported a 30 percent drop in net profit for the first quarter of 2018.Net profit declined to 3.7 billion dinars ($37.9 million) from 5.4 billion a year earlier, the company said in a statement, giving no explanation for the fall.Earnings before interest, tax, depreciation and amortisation (EBITDA) fell to 8.9 billion dinars from 11.1 billion a year earlier.One of the biggest contributors to Serbia's budget, NIS operates two refineries and produces 1.7 million tonnes of oil and gas equivalent per year.It operates fields in Serbia…