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July 4, 2009

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№6 June 2009

VNIIGAZ Road Tests CNG’s Superiority Over Gasoline

Just a Spoonful of Sugar: Finding Profit in Sour Gas Fields

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BP Statistical Review of Energy: Non-OECD Economies in the Lead

Developing nations consumed more energy than the entire group of OECD countries for the first time in 2008. This analysis is extracted from the reams of data in the BP Statistical Review of Energy, presented by Dr. Kristof Rühl, deputy chief economist at BP, in Moscow on July 3.

Featured Article

MIOGE 2009 DAY 2: TNK-BP, Rosfneft and Others Going Foward in Spite of the Crisis

The Vice President of TNK-BP's Exploration Division says that the company's exploration efforts will not contract due to the crisis, and that 250 new exploration wells will be drilled in the next five years.

Today's Headlines

Medvedev Calls Conference on Energy Intensity in Archangelsk

Keppel Seghers Signs Waste to Energy Contract in China

Shareholding Funds Reject Severstal Bid for High River Gold

Aker Solutions to Build Trees, Wellheads in Indonesia

Venezuela Could Lose Japan Loans Over Seizures

EU and Erdogan: Nabucco Deal in July 2009

NATO-Russia Council Restores Ties

Sovcomflot, Shell Sign Deal to Develop LNG Shipping

Tech Trends

GE Oil & Gas Wins $70 Million StatoilHydro Contract

Shell and Baker Hughes Pioneer Real-time Compaction Imaging System

Honeywell Installs New Fire&gas Detection System at the BTC

Tatneft employs steam-assisted gravity drive for high-viscosity oil recovery

Total Awards CGGVeritas Major 4D Inversion Project

Recruitment

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Vacancies

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Glossary

Pledge to Fight Animal Cruelty

http://www.moscowanimals.org/

More Top Features

Discovery Drilling Buys IDM’s Rig Plant in Ukraine, Sees Come Back for Russian Drilling

It is no secret that the economic recession has depressed the drilling market world-wide, including Russia, which a year ago was, by some measures, the drilling industry’s hottest growth market. Oil prices were at all time highs, investment seemed unlimited, and in Russia, Soviet-era rig stock and drilling equipment was fully depreciated and in need of replacement and upgrade.

Environmentalists Discuss Issues of Nord Stream Construction and Operation

It may never occur to someone pondering where his obsolete washing machine found its final resting place, to look for the appliance on the bottom of the sea. But such household goods have indeed turned up among the hundreds of objects scooped off the bottom of the Baltic Sea as environmental experts for Nord Stream continue to sweep the pipeline's route for live munitions.

PGS: Now is the Time to Grow Russian Business

Alexander Dementiev, heads the Russian representative office of Petroleum Geo-Services (PGS), and recently returned to Russia after having lived the last 19 years in Noway.

A Matter of Time: Natural Resources Ministry Pushes on With Reserve Classification Reform

The All-Russia Scientific Research Geologic Exploration Institute (VNIGRI) fulfills governmental contracts for the re-estimation of unallocated petroleum reserves throughout the country.
Within VNIGRI, Yury Novikov, heads the special Oil and Gas Laboratory which estimates reserves offshore and in the Far East.

Just a Spoonful of Sugar: Finding Profit in Sour Gas Fields

Natural gas unanimously occupies a place ahead of other fossil fuels for its superior hydrogen content and lower emissions. Globally, there will be no shortage of gas anytime soon, with reserves estimated at around 165 tcm.

VNIIGAZ Road Tests CNG’s Superiority Over Gasoline

One cloudless April morning, a convoy of 22 brightly colored vehicles festooned with flags and placards rolled out of the parking lot at VNIIGAZ headquarters in Moscow. The convoy included domestic and foreign vehicles – passenger cars, coaches, vans and trucks. And all were equipped with engines that run on compressed natural gas (CNG).

Rosneft Finds No Shortage of Silver Linings at 2009 General Shareholders' Meeting

A parade of Rosneft board members and government officials held the Rosneft corporate banner high at the general shareholders' meeting on June 19 in Moscow. Many cited gains made despite the crisis, and when shortcomings were noted, they were quickly followed by caveats referring to peer companies being worse off.

LIVE FROM MIOGE 2009: Shmal Says Russia Must Invest in Itself

Gennady Shmal, President of Russia's Union of Oil&Gas Industrialists says that
Russia needs to invest more in itself if it wants to prosper, speaking at
the opening plenary of the 7th Russian Petroleum & Gas Congress.

Total Signs Agreement to Buy 49 Percent Stake in Novatek Subsidiary Terneftegaz

Total has signed an agreement to purchase 49 percent of the Russian drilling firm Novatek's wholly-owned subsidiary, Terneftegaz, Total Russia General Director Pierre Nerguararian said in his presentation to the 7th Russian Petroleum and Gas Congress at the Moscow International Oil&Gas Exhibition in Moscow on June 25.

Terneftegaz owns the licenses for the Termokarstovoye gas condensate field about 250 km east of Tarko-Saleh on the Yamal Peninsula. The field holds, according to ABC1+C2 audits, 47.3 billiom cubic meters of natural gas and 10.3 million tons of liquid hydrocarbons.

Miller to Gazprom Shareholders: $100 Crude to Return in 2010

Gazprom Board of Directors Chairman Alexey Miller opined at his company’s annual shareholders’ meeting on Friday in Moscow that the world economy has already reached the bottom of the crisis and in 2010 the price of crude oil will be $100 per barrel. But as for the present, the recession and lack of demand has led to the capping of 1,000 Gazprom wells. When the time comes to recommission these wells, more then 10 percent of them will need special service, and the price of this special overhaul will have increased by 15 percent.

Subsea UK Calls Banks Predatory

The chief executive of Subsea UK, Alistair Birnie, along with representatives of that group's corporate members will call on the Government today to take action over recent actions by the banks which are threatening the future of the UK’s subsea oil and gas industry.

MIOGE 2009 Wrap-Up: A View from the Pavilion Trenches

Russian and foreign companies alike were optimistic about future opportunities while greeting potential clients and peer companies at last week’s Moscow International Oil and Gas Exhibition 2009.

Opinion & Analysis

Crisis Got You Down? Join OGE’s African Oil Safari and Explore New Markets
Pat Davis Szymczak

Live from OTC in Houston! We Bring You the Global Oil and Gas Industry,  Minus Russia
Pat Davis Szymczak

Analysis of U.S. EIA Data- U.S. oil stocks climb to 31-month high
Linda Rafield, Platts Senior Oil Analyst

Taking It on the “Americhin”
Pat Davis Szymczak

Have an opinion? Visit our blog

Industry Wires

RWE Dea Opens Office in Azerbaijan
http://www.oilvoice.com/

Repsol Makes Two New Discoveries in Spain's Mediterranean Waters
http://www.oilvoice.com/

SSE Provides Electricity Generation and Gas Storage Update
http://www.oilvoice.com/

Iran plans US$70b gas field investments for 2010-15
http://www.topix.net/

Police detain man in killing : No charges laid in Bridgewater death
http://www.topix.net/

Survey Question of the Week

When oil price will reach $70 per barrel ?

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