Market News

21 February 2012
Bulgaria Must Negotiate Gas Price Cut with Gazprom – Right-Wing MP
The right-wing Democrats for a Strong Bulgaria (DSB) party have demanded that the government immediately start talks with Russia's Gazprom to renegotiate the terms of the gas supply contract. Источник:  oilandgaseurasia

21 February 2012
Statoil Confirms Indications Of Gas Offshore Tanzania
Statoil and partner ExxonMobil confirm that the Zafarani-1 well in Block 2 offshore Tanzania has encountered indications of natural gas in a good quality reservoir. Источник:  oilandgaseurasia

13 February 2012
Venezuela Approves PDVSA, Gazprombank JV
Venezuela has approved a joint venture between the state-run oil giant PDVSA and Gazprombank, a subsidiary of the Russian energy giant Gazprom, the government's official gazette said Wednesday. Источник:  oilandgaseurasia

13 February 2012
Tatneft Begins Rendering Services in Turkmenistan
The specialists of Tatneft Company started well workover operations in the south-eastern sector of the oil production area No. 4 at NGDU "Goturdepenebit". Источник:  oilandgaseurasia

7 February 2012
Gazprom To Invest $7 Million In The Shtokman Project This Year
Gazprom plans to invest a mere $7 million in the Shtokman this year. The Russian gas giant will not yet open its wallet in the Barents Sea. While the oil industry eagerly awaits a final investment decision in the huge offshore project, the main field partner will itself spend only peanuts on the project this year. Источник:  oilandgaseurasia

7 February 2012
Petrochina Buys Stake In Canada Shale Gas Project
State-owned PetroChina said it has agreed to take a 20 percent stake in a Canadian shale gas project owned by Royal Dutch Shell, China's latest acquisition of North American natural resources. Источник:  oilandgaseurasia

3 February 2012
ExxonMobil Licenses Oil Sands Steam Injection Technology to Baker Hughes
ExxonMobil Upstream Research Company has awarded the first license for its patented steam injection system and production method to Baker Hughes to improve the efficiency of in-situ oil sands projects. Approximately 80 percent of Canada’s oil sands can be produced using in-situ technology, which involves the injection of steam to enable bitumen to be extracted through drilling versus surface mining. Источник:  oilandgaseurasia

3 February 2012
Max Petroleum Reports Production Test Results
Max Petroleum Plc (MXP.LSE), an oil and gas exploration and production company focused on Kazakhstan, has begun testing a second Triassic reservoir in the SAGW-1 well in the Sagiz West Field in Kazakhstan, the company reported in a news release. Источник:  oilandgaseurasia

3 February 2012
KazMunaiGas To Establish New Production Unit
The Board of Directors of KMG EP has decided to create joint stock companies based on existing production facilities and elected new members to the Management Board, the company reported in a news release. Источник:  oilandgaseurasia

2 February 2012
Statoil Courts Rosneft for Off-shore Development
The Norwegian oil major Statoil is eager to join the development of huge offshore fields in Russia´s Arctic. But first it wants tax breaks from Moscow. Источник:  oilandgaseurasia

2 February 2012
President urged to construct GPP in Karachaganak
President Nursultan Nazarbayev has urged to complete engineering and begin construction of a gas processing plant (GPP) in the Karachaganak field; the press service of the Ministry of Oil and Gas reports. Источник:  KAZINFORM

1 February 2012
Gazprom To Test LNG on Northern Sea Route
In the very near future we will conduct test sailing with LNG on the Northern Sea Route, Gazprom says. Источник:  oilandgaseurasia

1 February 2012
World Oil Prices Rise As Japanese Economy Recovers
The price of oil on world commodity exchanges was growing Tuesday morning as investors bet a small economic recovery in Japan would increase demand. Источник:  oilandgaseurasia

17 January 2012
Oil workers to cast ballots on artificial islands in the Caspian Sea
In Atyrau region all voters have the opportunity today to take part in the parliamentary elections, including more than 3 thousands oil workers on artificial islands in the Caspian Sea. Источник:  KAZINFORM /Andrei Sokolov/

14 January 2012
Kazakhstan's oil revenue amounted to KZT 3.8 trln in 2011
Kazakhstan's revenue from oil sector amounted to KZT 3.8 trillion in 2011, Kazakh Vice Minister of Finance Ruslan Dalenov posted on Twitter.null Источник:  KAZINFORM

13 January 2012
Caspian Oil & Gas Announces West Mailisu #2 Update
Caspian Oil & Gas Limited (ASX: CIG) has suspended operations on its Источник:  http://www.oilandgaseurasia.com

13 January 2012
Ukraine To Halve Russian Gas Purchases: Minister
Ukraine said on Wednesday it would cut purchases of Russian gas supplies by half, drawing loud protests from Moscow and raising the spectre of a fresh energy conflict between the two uneasy neighbours. Источник:  http://www.oilandgaseurasia.com

13 January 2012
New Oil and Gas Vice Minister of Kazakhstan named
Bolat Akchulakov has been appointed by the Government decree as Oil and Gas Vice Minister of Kazakhstan, the Ministry's press service said. Источник:  KAZINFORM

12 January 2012
Kuwait, Saudi Arabia Not To Supply Oil To Pakistan On Long-Term Credit
Kuwait and Saudi Arabia have turned down Pakistan's request to supply oil on long-term credit despite the rhetoric of long-standing and brotherly ties between the countries, according to a media report today. Источник:  http://www.oilandgaseurasia.com

12 January 2012
China December Crude Imports Off November Figures Despite High Refinery Throughput
China's crude oil imports in December climbed 5.1% year on year to 21.92 million mt, or an average of 5.18 million b/d, preliminary data released Tuesday by the country's General Administration of Customs showed. Источник:  http://www.oilandgaseurasia.com