OPEC Mulls Deeper Output Cuts in 2021
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) are looking into the possibility of further cuts early next year in an effort to try and revitalize the oil market.
Russia | Egypt Oil & Gas - Part 15
Lukoil Seeks to Inaugurate New Oilfield Projects in Iraq
Russia’s state-run oil company, Lukoil PJSC, is looking to set up new oilfield projects in Iraq despite OPEC+ production cuts and a slump in oil demand.
OPEC+ Warns of “Precarious” Oil Market
The Organization of Petroleum Exporting Countries and its allies (OPEC+) has warned that the state of the oil market is in a “precarious” position and has hinted towards a change of tack in regards to oil cuts.
Novak: OPEC+ Set to Relax Oil Cuts As Planned
Russian Energy Minister Alexander Novak announced on 14 October that the OPEC+ group of leading oil producers will start easing output curbs as planned despite a global spike in coronavirus cases.
Gazprom’s Gas Transit Via Ukraine Reaches 40 BCM in 2020
Gazprom, Russia’s state-owned gas company, has pumped 40 billion cubic meters (bcm) via Ukraine’s transmission system in 2020.
Russia Oil, Gas Production Exceeds OPEC Pact
Russian oil and gas condensate production has edged to 9.93 mmbbl/d in September, slightly exceeding its Organization of Petroleum Exporting Countries’ (OPEC) quota.
Gazprom Supplies China with 2.3 bcm in 8 Months
Russia’s state-owned gas company, Gazprom, supplied 2.3 billion cubic meters (bcm) of gas to China via the Power of Siberia gas pipeline in the first half of 2020.
Novak: 2020 Oil Demand Could Fall by 10 mmbbl/d
Russia’s Energy Minister, Alexander Novak, has predicted that global oil demand could fall by 9-10 million barrels per day (mmbbl/d) this year due to the impact of the COVID-19 pandemic.
Gazprom’s Q2 Profits Halved YoY
Russia’s state-run gas giant Gazprom has announced a Q2 decline in net income in excess of 50% year on year (YoY).
Novatek Ships First LNG Cargo to UAE
Novatek, Russia’s largest independent oil and gas producer, has confirmed the arrival of the company’s first liquified natural gas (LNG) cargo to the United Arab Emirates (UAE).
