Oil

Alekperov: oil price of $75 is good, production can be increased, demand grows

At the established oil price, oil-producing countries can start increasing the production of raw materials without fear of a sharp decline in price, president of Lukoil Vagit Alekperov said.

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New technologies to cost oil companies 24 trillion rubles

The digital transformation of the oil industry, which Russia started thinking about ten years ago, will require 24 trillion rubles until 2035, but will bring the industry and the economy as a whole

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In 2017, Neftisa increased reserves by 39% to 360 mln tons

Neftisa, oil asset of M. Gutseriev’s financial-industrial group Safmar, has summed up financial and operating results in 2017. Neftisa reported about this on June 18, 2018.

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RBK: Rosneft and Lukoil to get preferences from the government for 330 billion roubles.

The Ministry of Finance of the Russian Federation made amendments to the draft law on tax maneuvering in the oil industry.

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Russian Government may support oil companies after request of Rosneft’s head

The Ministry of Finance has made changes to the draft law on tax maneuver in the oil industry.

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Russia to eliminate critical dependence on import of LNG equipment in 6-7 years

Russian companies will be able to eliminate critical dependence on foreign equipment in the field of large-capacity natural gas liquefaction (LNG) in the next 6-7 years.

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In 2018 SOCAR spent about $70 million on purchase of 4 vessels

SOCAR (State Oil Company of Azerbaijan Republic) has spent 115 million manats ($68 million) on purchase of 4 vessels since early 2018, the company said in its financial report for 2017.

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Orsk refinery to put hydrocracking facility into operation in July

The Orsk refinery, which is part of Mikhail Gutseriev's SAFMAR, has started the test launch of the hydrocracking complex. The facility is scheduled to start in July, the company said.

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Lukoil's digital technologies allow cheaper and more efficient development of hard to recover reserves

LUKOIL is successfully implementing the digitalization strategy in all divisions and at all levels of management.

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In 2017, Surgutneftegaz discovered two fields and 18 deposits with oil reserves of 74.4 mln tons

In 2017, Surgutneftegaz discovered two fields and 18 deposits with reserves of 74.4 million tons of oil on the АВ1С1 categories, as it follows from the annual report of the company.

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Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
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