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 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.
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 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.
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)
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…
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)
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…
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).
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…
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…
Serbia, Russia Revive Gas Pipeline Plans
Russia and Serbia have revived an idea of building a gas pipeline in the Balkan country, a project that would enable Gazprom to step up its gas supplies to Europe, bypassing Ukraine. The Serbian pipeline will be linked to Bulgaria and Hungary via two interconnectors to ship Russian gas from the TurkStream pipeline. The Vienna-based Energy Community Secretariat, which transposes EU energy standards to aspiring member states, criticised the project saying the true aim was to bring Russian gas from TurkStream to the Baumgarten hub near Vienna, not to diversify gas supplies to Serbia.
Gazprom Neft 2017 Net Profit Rises to $4.3 bln
Russian oil company Gazprom Neft says 2017 net profit was at $4.3 bln, based on preliminary estimates, up from $3.0 billion in 2016. Gazprom Neft increased reserves by 2.2 pct in 2017, and its proven reserves were up 0.5 pct. Gazprom Neft expects to pay 2017 dividends equivalent to 25 percent of IFRS net income - presentation. Reporting by Oksana Kobzeva; Writing by Christian Lowe
Janaf Strikes Transport Deals Worth $83 Mln
Croatia's oil pipeline operator Janaf said on Monday it had reached transport agreements worth 500 million kuna ($83 million) with Serbia's oil company NIS and Hungary's energy group MOL . The deal with NIS, which is majority owned by Russia's Gazprom Neft, includes transport of oil in 2018, while that with MOL involves transport and storage of oil for 2018 and 2019. Janaf is almost 80 percent owned by the Croatian state and its agencies, while other major shareholders are Croatia's oil group INA and state-owned power board HEP.
Gazprom Neft, ZPEC Discuss East Siberian Oil Fields Project
Russian oil producer Gazprom Neft is in talks with the Chinese drilling company Zhongman Petroleum and Natural Gas Group Corp (ZPEC) over it taking a stake in Gazprom Neft's Chonsk oil fields development project in Siberia, two sources at the Russian company told Reuters. The Chonsk project consists of three fields some 100 km from the East Siberia-Pacific Ocean pipeline, Russia's key route for oil exports to Asia. The project requires advanced drilling and extraction techniques due to the variable permeabilities and porosities of the carbonate reservoirs, Gazprom Neft has said.
NIS to Spend $2.2 Bln to Boost Production
Serbian oil company NIS plans to invest $2.2 billion in its operations by 2025 and increase production to secure a leading position in south-east Europe. Russia's Gazprom Neft owns 56.15 percent of NIS, the Serbian government 29.88 percent and small shareholders the remainder of the company. NIS said on Friday that its development plan to 2025 forecasts a rise in earnings before interest, tax, depreciation and amortisation (EBITDA) at an average of 4 percent annually. "We are convinced that the strategy ... will be a driving force for the successful development of NIS ...
Gazprom Neft Q3 Net Profit up 36% Y/Y
Russian oil producer Gazprom Neft said on Wednesday its third-quarter net profit was up 36 percent year-on-year to 77.7 billion roubles ($1.29 billion). Gazprom Neft's revenue rose to 513.3 billion roubles from 450.2 billion roubles in the third quarter of last year, while adjusted earnings before interest, taxation, depreciation and amortisation grew 26 percent to 153.4 billion roubles. ($1 = 60.0925 roubles) (Reporting by Olesya Astakhova; writing by Katya Golubkova; editing by Maria Kiselyova)
Expanded US Sanctions May Affect Russia's Foreign O&G Expansion
Newly updated sanctions introduced by the United States against Moscow for its role in the Ukraine crisis may put a brake on Russia's future efforts to increase its exposure to the global oil and gas industry, analysts said on Wednesday. However, the punitive measures will have little immediate effect on the operations of Russian energy companies abroad, they said. The U.S. Treasury's Office of Foreign Assets Control on Tuesday published an amendment to sanctions against exploration or production for deepwater, Arctic offshore, or shale projects implemented by Russian companies, including abroad.
Construction Starts on Serbian Oil Firm's New Deep Conversion Complex
Serbian oil company NIS, majority owned by Russia's Gazprom Neft, started construction on Monday of a 300 million euro ($352 million) deep conversion complex at its main refinery, which it says will boost efficiency and reduce pollution. The project at the Pancevo refinery is part of the second phase of a Gazprom Neft programme to modernise NIS's refining capacity, which has been ongoing since 2009 and is expected to be completed in 2019. With a capacity of 2,000 tonnes per day, the new facility will enable the refinery's conversion rate, a key indicator of its operational efficiency, to reach 99.2 percent, NIS said in a statement.
Gazprom Neft: Work Restarted on Prirazlomnoye Platform
Russia's Gazprom Neft, the oil arm of state gas producer Gazprom, restarted work on its Arctic offshore platform Prirazlomnoye on Oct 5 after three months of maintenance, a company executive told Reuters on Monday. Andrey Patrushev was talking to Reuters on the sidelines of the India Energy Forum by Ceraweek. Prirazlomnoye field is an Arctic offshore oilfield located in the Pechora Sea. Reporting by Neha Dasgupta