Oil and Gas Industry Latest News

27.08.2014 Sanctions Could Jeopardize Security on Prirazlomnaya Platform

The Prirazlomnaya platform is packed with Norwegian technology and is likely to soon feel the consequences of the western export ban on oil and gas equipment, Barentsobserver.com reports.

22.08.2014 North Atlantic Drilling announces acquisition of land drilling rigs in Russia

North Atlantic Drilling Ltd. has inked an agreement to purchase a significant portion of Rosneft’s land drilling fleet in Russia. Approximately 150 rigs will be acquired along with an award of new 5 year contracts with Rosneft for these units.

22.08.2014 Gazprom Neft Readies First Oil Shipment From Novy Port

Gazprom Neft is ready to ship out 80,000 tons of Novoportovskoye oil through the Ob Bay and towards western markets.

20.08.2014 Russian budget strains as oil prices fall below $100/barrel

Russian Urals crude weakened for an eight straight trading day on Monday due to weak European refining demand, falling well below $100 a barrel for the first time in a year in a move to increase the pain for Russian state finances amid Western sanctions.

18.08.2014 Rosneft, Statoil Start Exploration on Norwegian Shelf of the Barents Sea

On August 18, Rosneft together with Norwegian company Statoil Petroleum AS started exploration operations at the Pingvin License PL713prospect in the Norwegian section of the Barents Sea.

14.08.2014 Bashneft completes the acquisition of the OPTAN network of filling stations

Bashneft has completed the acquisition of a network of filling stations operating under the OPTAN brand name and comprising 92 filling stations and 11 land plots in 12 regions of Russia.

12.08.2014 U.S. oil output from major shale plays to rise 89,000 bpd in Sept

U.S. oil production from the country's fastest-growing shale plays is set to rise by some 89,000 barrels per day in September from a month earlier, Energy Information Administration data showed on Monday.

09.08.2014 Rosneft, ExxonMobil Start Drilling in the Kara Sea

Rosneft and ExxonMobil joint venture company Karmorneftegaz began drilling of Universitetskaya-1, the Russian Federation's northernmost well using the West Alpha rig. The start of the drilling was launched by Russian President Vladimir Putin during a teleconference with head of Rosneft Igor Sechin and head of ExxonMobil Russia Glenn Waller who were both present in the Kara Sea.

08.08.2014 Yamal LNG project continues despite sanctions

Russia’s Yamal LNG project and construction of the Port of Sabetta are on track despite Western sanctions, head of project operator Novatek says.

08.08.2014 Gazprom wins another Barents Sea license

Gazprom has been awarded the license to the Kheysovsky without tender, Barents Obsever reports. The company is paying 1,07 billion roubles for the license, a press release from the government reads. The Kheysovsky is estimated to hold more than two trillion cubic meters of gas, 394 million tons of oil equivalents and 32 million tons of condensate.