Oil

The stake of Arctic in the total volume of oil extraction in Russia may grow to 22% by 2035

The stake of oil extraction in the Arctic zone of Russia in the total volume of oil extraction in Russia will grow from 17% to 22% by 2035, the Minister of Energy, A. Novak, said.

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The Ministry of Finance does not exclude the possibility of abolishing the export duty on oil.

The Ministry of Finance considers the abolition of the export duty on oil to be correct, but is ready to discuss this only from 2019-2020, the head of the department of tax and customs policy of th

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The Ergin becomes more expensive out of the auction.

Rosneft and Gazpromneft will compete for the field with a price tag of at least 7 billion roubles.

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In 2017, Azerbaijan’s income from oil sale to be $5 bln at the price of $40 per barrel

At the average price of $40 per barrel Azerbaijan will receive $5 billion from oil sales in 2017. This was stated by President Ilham Aliyev at the republican meeting on cotton production.

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Russian companies agree with Iran on development of large hydrocarbon deposits

Russian companies have reached agreements on the development of large hydrocarbon fields in Iran.

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Drilling at well of the Barsagelmez field in Turkmenistan is over

The drilling department of Nebitdag of the state-owned concern Turkmenneft has completed drilling operations at the 1314th well of the Barsagelmez field.

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BP prolongs agreement with contractor on oil platform management in Azerbaijan

BP has extended the contract with the Scottish company Elite Control System to provide services for automated management and support of the Chirag oil platform in the Azerbaijani sector of the Casp

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Baku is ready to further reduce oil production if such decision is made

Azerbaijan is ready to further reduce the oil production in case of taking an appropriate decision by oil-producing countries, head of the press centre of the country’s Ministry of Energy Zam

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Kazakhstan not to reduce oil extraction

Kazakhstan executes the agreement with OPEC on the reduction of oil extraction but it is not about a higher reduction, the Minister of Energy, K. Bozumbaev, said.

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Gazpromneft increases oil production at the Badra field to 80 thousand barrels per day

Gazpromneft Badra, a subsidiary of Gazpromneft, has increased the daily production at the Badra field in Iraq to 80 thosuand barrels, Gazpromneft reports.

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