August 20, 2008
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Gazprom Boosts Acquisition Spending, Cuts Field Investment

Russian gas monopoly Gazprom decided to enhance its investment program for 2007 announcing Friday a 47% increase in investment bringing it up to RUR 779 ($30.6 billion) billion in a move approved by the world’s largest natural gas producer’s board of directors.

Putin's Presidency: Preparing for an intermission

The appointment of a person with the profile of Viktor Zubkov to the role of Prime Minister is entirely consistent with the view that President Putin will not only remain the dominant player during the next presidency, but that it is highly probable he will return as Russia's fourth President for a further eight years. It is also entirely possible that this could occur well before the scheduled election date in 2012.

TNK-BP's Oil and Gas Output Will Be Flat Through 2009

TNK-BP Holding expects its oil and gas production to be flat through 2009, the Russian joint-venture's chief executive Robert Dudley said, blaming the time it will take to offset declining output at older fields.

Gazprom Ceded to Turkmenistan in Gas Talks

Turkmenistan and Gazprom signed a Supplementary Contract on natural gas supply from Turkmenistan, which increase the price for gas

Weatherford Acquires Aquatic Company in Russia

Acquisition augments the Company’s drilling technology expertise and Russian engineering infrastructure

Last Call for Papers for SPE 2008 ROG Technical Conference & Exhibition

Deadline for papers to be presented at SPE 2008 Russian Oil and Gas Technical Conference & Exhibition is extended to February 7, 2008. Submit a paper here

Neftemashvnedrenie Affiliates with Weatherford Group

Weatherford International Ltd announced about the affiliation to the Weatherford group of companies of Neftemashvnedrenie

Varandey Oil Terminal Brings Increased Activity in Barents Sea

The Varandey oil terminal on the coast of the Barents Sea will be opened in June this year, Lukoil confirms.

Surgutneftegaz Warns of Oil Production Fall Due toTaxes

Surgutneftegaz may loose a third of production long term if the government does not alleviate its tax burden, the company's CEO said

Bentec Wins Contract for four 250 ton HR 4500 Cluster Slider™ Rigs

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