August 22, 2012
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Editor’s Letter

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

     Well, here it is MIOGE time again. Usually this time of year I write about the state of the oil and gas industry and often my column is shameless boosterism. But this year, I’m not sure what to boost. At the risk of…

Main Article

Gazprom Neft Rebranding Petrol Stations

Gazpromneft officially launched its “new look” brand for gasoline stations Sept. 4 in Omsk, site of the company’s largest refinery. Alexander Dybal, deputy general director for communications said the company expects it will take until 2011 to complete the rebranding.

Featured Article

Gazprom’s Management Needs to Look at Post-Crisis Market

Former Deputy Minister of Energy of the Russian Federation Vladimir Milov believes that politics have gotten in the way of Gazprom’s main task: producing and marketing natural gas to domestic and international consumers.

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.

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.

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.

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, chief economist at BP, in Moscow on July 3.

 

6 Dead in LUKoil Helicopter Crash

A helicopter crash early Wednesday in the southern Volgograd region killed six people, including five LUKoil employees and a crew member.

TNK-BP Investor Presentation Touts Reserve Replacement and Transparency

Russian-British oil giant TNK-BP issued it’s first-ever investor relations presentation on Wednesday, using the document to boast it’s 130 percent reserve recovery ratio (RRR), its new push for corporate governance transparency, and a rating increase from Standard & Poor’s Investor Services. Although still not investment grade according to S&P, Moody’s and Fitch have rated TNK-BP debt investment grade since 2007.

 

Oil May Fall Below $10 in Next Decade, Prechter Says

Two weeks after Prechter warned in 1987 that stocks would crash, the Dow Jones Industrial Average plunged 23 percent. He advised betting against U.S. equities three months before the market peaked in October 2007. In February 2009, he recommended ending that bet in anticipation of a “sharp and scary rebound.”

The Great Pipeline Opera

Inside the European pipeline fantasy that became a real-life gas war with Russia.

Russia Eyes $2 Trillion for Energy Sector by 2030

Russia plans to invest up to 60 trillion roubles ($1.9 trillion) in its energy sector by 2030.

India’s energy industry – past, present, future

   In Jawaharlal Nehru’s opinion, after gaining independence in 1947, the key task for India was securing adequate supply of oil and gas to the country. Nehru and his associates understood that they will be unable to fight underdevelopment and poverty without support from other states.

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