Fuel and energy

Japan's trade and industry ministry (Meti) in August launched an expert committee to discuss the country's energy policy.

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.

The Asia-Pacific butane market underwent a sharp and largely unexpected reversal in 2017, as strong demand from major regional economies underpinned prices early in the year, only for signs of slowing consumption to erode gains in the fourth quarter.

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

The award and a grand in the amount of 1 million rubles for the continuation of research to the young scientist was presented by President of the Global Energy Association Igor Lobovsky.

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.

A working meeting of the group for scientific and technical cooperation between Gazprom and South Korea’s KOGAS took place from December 13 to 15 at the Gazprom Transgaz Ukhta premises.