Oil

Enterprises of the TATNEFT Croup of Companies produced 28,939 thousand tonnes of crude oil during the twelve months period, which was 253 thousand tonnes more, than in 2016 (100.9%).

Jacobs Engineering Group Inc. (NYSE:JEC) has been selected by BP to provide engineering, procurement and construction management (EPCM) services for the Phase 2 of the Khazzan Project in the Sultanate of Oman.

A total 6,756 metres was drilled, including 4,411 metres drilled in the target strata. The well was constructed in 39 days at a rate of 5.78 days per 1,000 metres.

API President and CEO Jack Gerard delivered the following speech at today’s 2018 State of American Energy event. Below are Gerard’s remarks as prepared for delivery.

The price of OPEC basket of fourteen crudes stood at $65.85 a barrel on Monday, compared with $65.86 the previous Friday, according to OPEC Secretariat calculations.

These seismic works have involved technologies and equipment designed or modified for use in the Arctic, and were undertaken by modern research vessels of the highest ice class — ICE-1A.

The Haynesville shale's dominance as a natural gas supply source could rise in 2018 amid unobstructed pipeline access to the northeast and close proximity to the US Gulf coast, a key industrial demand region

The oil recovery factor (ORF) at the pilot licence block reached 67 percent, of which 15 percent is attributable to the use of ASP technology. The company will producing oil under this pilot project until its completion in Q1 2018.

. The company’s investment in this project currently stands at more than RUB3 billion.

A delegation of professionals from OOO LUKOIL-Engineering, which included specialists in the management of well construction design and monitoring, scientific work in the area of crude oil production, etc., paid a working visit to a TATNEFT Company.

Messoyakhaneftegaz completes construction of a highly complex production well at its Vostochno-Messoyakhskoye field. 

Moscow hosted a rating results presentation ceremony within the Common Sense project.

The decision by Opec and its non-Opec partners to extend their output cut deal by another nine months to the end of 2018 will attract more US crude to Asia-Pacific in the coming year, especially medium sour US grades.