Oil

Gazpromneft produces 1 mln tons in Iraqi Kurdistan

Gazpromneft Middle East B. V., a subsidiary of Gazpromneft, has produced 1 million tons of oil at the Garmian field in Iraqi Kurdistan. Gazpromneft reported this on June 15, 2018.

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RussNeft supports increase in quotas for oil production within OPEC+

Russneft is in favor of continuing the OPEC agreement with independent oil producers to reduce oil production (the OPEC+ deal), while production quotas under the agreement should be increased.

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In 2017, Surgutneftegaz launched 5 fields and plans to start production at four more in the next 3 years

In 2017, Surgutneftegaz launched five deposits: n.a. I. N. Logachyov, Sakhalinskoye, South-Konitlorskoye, n.a. A. V.

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Novak comments on possible softening of OPEC+ deal’s conditions

Countries participating in the OPEC+ agreement to reduce oil production should get the same opportunities in connection with the adoption of new conditions to mitigate the transaction.

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Surgutneftegaz produced 60.5 mln tons of oil in 2017

Last year, Surgutneftegaz reduced oil production by 2.1% compared to the result of 2016. The volume of oil extracted in 2017 amounted to 60.5 million tons.

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Russia and Saudi Arabia to replace decline in oil production in Venezuela and Iran

Russia and Saudi Arabia are ready to increase oil production by 1.5 million barrels per day to compensate for the decline in production in Venezuela and the potential withdrawal of Iranian oil from

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Total investments in upgrade of Orsk refinery to reach 64 billion rubles

The volume of investments in the modernization of the Orsk refinery (part of Mikhail Gutseriev's SAFMAR) will be 64 billion rubles, the governor of the Orenburg region Yuri Berg, said.

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State Oil Company of Azerbaijan increases its stake in SOCAR Energy Georgia to 75.5%

SOCAR (State Oil Company of Azerbaijan Republic) increased its share in the Georgian subsidiary SOCAR Energy Georgia to 75.51%, SOCAR said in its annual report for 2017.

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In January-May, Azerbaijan increased oil production by 1.3%, gas – by 0.9%

In January-May 2018, oil production in Azerbaijan amounted to 16 132 thousand tons of oil, which is by 1.3% more than in the same period last year, the State Statistics Committee informs.

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In 2017, increase in recoverable oil reserves of Surgutneftegaz was 74.4 mln tons

In 2017, increase in recoverable oil reserves of Surgutneftegaz amounted to 74.4 million tons. These data are contained in the company's materials.

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