In September the oil production capacity rose to make up 10.3 barrels a day – more than a fifth of the total volume of the produced oil falls to the share of the state concern Rosneft. It must be mentioned that in Saudi Arabia which takes the second place after Russia in ‘black gold’ production […]

The subsidiary of TNK_BP Buguruslanneft has won an auction bidding to buy a Novo-Zhedrinskiy hydrocarbon area in the Orenburg Region. This information was published by the Federal Agency on Subsoil Use. The right to use the subsoil resources of the area cost the company 138.45 million rubles, with the reserved price being 106.5 million rubles. […]

The head of the Federal Antimonopoly Service (FAS) of the Russian Federation Igor Artemyev said on Wednesday that in order to improve the situation at the oil products market it is necessary to split vertically integrated oil companies (VIOC) into retail, wholesale and production ones. “I am in favor of splitting VIOCs into retail, wholesale […]

In 2012 Azerbaijan is going to raise the oil production volume. This was declared by the president of the oil company of Azerbaijan (SOCAR) Rovnag Abdulaev in Baku at the international conference. “The conciliation process for contract on the deep gas development at the Azeri-Chirag-Guneshli oil and gas fields. According to the forecasts the gas […]

The Gazprom Neft board of directors approved of signing with OAO Gazprom the contract of purchase of ZAO Gazprom Neft Orenburg shares, which owns the license for the Eastern part of the Orenburgskoe oil condensate field (the Orenburg region), the Gazprom Neft statement reports. Within the framework of the deal Gazprom Neft can purchase 61.8% […]

According to the statement made by the CEO of OOO TNK-Uvat (the subdivision of TNK-BP) Yury Masalkin, the company is planning to invest no less than one hundred million American dollars annually up to 2015 into the geological prospecting and exploitation of the territory surrounding the village of Uvat. The exploration works have been singled […]

At the end of last week Baku saw the signing of the contract for oil storage in the terminals in Korea between the Azerbaijan state oil company SOCAR Trading and KNOC (Korean National Oil Corporation), the statement of the state oil company of Azerbaijan says. According to the terms of the agreement SOCAR Trading obtains […]

The state oil producing monopoly of Belarus the production association Belarusneft extracted 979 thousand tons of crude oil for the period from January to July 2011 which is by 0.8% less than for the same period of 2010, according to the statement of the Energy Ministry of Belarus. Belorussian oil was exported predominantly to Germany […]