The third cavern of the Katharina underground gas storage (UGS) facility with the capacity of nearly 60 million cubic meters was commissioned in Bernburg. Thus, the facility’s aggregate working gas volume grew by 50 per cent and totaled some 170 million cubic meters.
The Shell Petroleum Development Company of Nigeria Limited (SPDC), a subsidiary of Royal Dutch Shell plc (Shell), has completed the assignment of its 30% interest in Oil Mining Lease 24 (OML24) and related facilities in the Eastern Niger Delta to Newcross Exploration and Production Limited (Newcross). Total cash proceeds for Shell amount to some $600 million.
There was a lean production conference held at JSC TATNEFT on the subject "Effective processes: high performance" with the participation of business leaders, representatives of departments of the Republic of Tatarstan and the Russian Federation, winners and participants of the International Contest for lean production, leading experts in the field of lean production and industrial systems' development.
Amec Foster Wheeler today announces that BHI Co., Ltd., a licensee of its Global Power Group, has been awarded a contract by a prominent US power producer to design and supply two Heat Recovery Steam Generators (HRSGs) in the United States.
November 24, 2014, Moscow. Today, Bashneft Group, which comprises JSOC Bashneft, its subsidiaries and affiliates, released its unaudited consolidated financial statements for the third quarter of 2014 and the nine months ended September 30, 2014 prepared in accordance with International Financial Reporting Standards (IFRS).
Anna Bondarenko, Thomson Reuters Kortes’ senior expert will make a presentation on the Russia’s domestic LPG market pricing and will present demand and supply analysis on LPG in the country at the conference “Russia’s LPG and LNG markets” on December 4.
Moody’s Investors Service has today confirmed Bashneft’s corporate family rating (CFR) and probability of default rating (PDR) at Ba2. The outlook on all the ratings is positive. This concludes the review for downgrade initiated by Moody’s on 18 September 2014.
The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Nguyen Xuan Son, Chairman of the PetroVietnam Oil and Gas Group (PVN) Board of Directors.
ACI’s Future of Polyolefins 2015, taking place in London, UK, on 21st – 22nd January 2015, will bring together key industry experts to discuss the latest strategies and methods to overcome current challenges, and maximise the opportunities. The conference will address how the industry will evolve, current trends, how to respond to the changes of the market and the growing demand from end users.
"The scale of the climate challenge requires us not only to ask how we can do more, but how we can achieve the most. Climate change doesn’t stop at borders – and neither should our solutions,” says Statoil CEO Eldar Sætre at the Statoil Autumn Conference.
The increasing complexity of plant production processes impacts both operational risk and business performance. By combining the best functionality of two products, DNV GL has launched a new plant integrity software solution which supports operators and plants owners in the drive to optimise plant operations and safety.
DNV GL is proposing a new concept that combines mature water injection technology with the newest developments in offshore wind power to achieve more cost effective Enhanced Oil Recovery (EOR). Now, industries are invited to join DNV GL in developing this concept further in a joint industry project. Initial studies show it will reduce the cost of water injection, avoid costly topside modifications and reduce greenhouse gas emissions.
The global oil and gas industry is now facing the reality that many of its on and offshore wells are being used beyond the original lifespan. This presents significant uncertainty around the integrity, safety and productivity of the remaining service life. DNV GL has established a Joint Industry Project (JIP) to develop guidelines for a decision support framework for corrosion assessment and integrity management of ageing wells.
Crude Oil Production In October the amount of 2,233,339 tons of crude oil or 100.6% versus October 2013 was produced at JSC TATNEFT, while the production since the beginning of the year amounted to 21, 436,124 tons, which was 98,210 tons more than in 2013 (100.4%). The amount of 21,436,910 tons of crude oil was delivered with the above-the-plan delivery amounting to 28,760 tons.
As part of the APEC summit in Beijing, a number of documents related to the Russian-Chinese cooperation in the energy sector were signed today in the presence of Russian President Vladimir Putin and Chinese President Xi Jinping.
Rosneft and China National Oil & Gas Exploration and Development Corporation (CNPC subsidiary) have signed a framework agreement envisaging the purchase of a 10% share stake in ZAO Vankorneft. The document was signed on the sidelines of the APEC summit.