On 5 December 2019, Alexey Miller, CEO of Gazprom, and Ölziisaikhany Enkhtüvshin, deputy Prime Minister of Mongolia, signed a Memorandum of Understanding for joint assessment of the project viability of the new gas pipeline to China through Mongolia, reports Gazprom. Although running a longer distance, the trans-Mongolian gas pipeline would be less technically challenging compared … Continue reading Gazprom considers new export gas pipeline to China through Mongolia →

Russian oilfield services (OFS) market experiences the decline in hydraulic fracturing (HF) operations, reports Deloitte, a global consulting firm, in its recent Russian OFS report. In 2018 Russian oil and gas companies conducted 5,921 hydraulic fracturing operations, a 4% decrease compared to 2017. The number of hydraulic fracturing operations in Russia has been decreasing since … Continue reading Russian OFS market sees the decline in hydraulic fracturing operations and their efficiency →

The Commission on Foreign Investments Monitoring of the Russian Government has granted permission to Saudi investors to acquire a 20.5% stake in Novomet, a leading Russian artificial lift equipment manufacturer, said Igor Artemyev, head of the Federal Antimonopoly Service (FAS) of the Russian Federation. The Russian Direct Investment Fund (RDIF) will acquire a 10.2% stake … Continue reading The Commission on Foreign Investments has approved the acquisition of 20.5% of Novomet by Saudi investors →

Russia has become the leading supplier of crude oil to the People's Republic of China (PRC), said Alexander Novak, the Minister of Energy of Russia. It is also one of the leading suppliers of electric power to this East-Asian state. Mr Novak made these statements after taking part in the meeting of the Russian president … Continue reading Russia becomes the leading crude oil supplier to China →

The Commission on Foreign Investments Monitoring of the Russian Government has postponed for three months its decision on the formation of a joint venture between Gazprom Neft, a Russian oil company, and Royal Dutch Shell, a global oil major, said Igor Artemyev, head of the Federal Antimonopoly Service (FAS) of the Russian Federation. The new … Continue reading The Commission on Foreign Investments has postponed a JV deal between Gazprom Neft and Royal Dutch Shell →

Gazprom Neft, a Russian state-run oil company, became the first oil company in Russia to use locally developed “КРАБ” (CRAB) seabed sensors to conduct 3D seismic surveys on the company's Ayashskiy license block in the Sea of Okhotsk in the Russian Far East. Previously Russian oil companies used predominantly imported sensors for offshore exploration, reports … Continue reading Gazprom Neft to conduct an offshore 3D seismic survey with new locally designed seabed sensors →

Rosgeologia, a Russian state-run geological exploration holding, and Gazprom bank have signed an agreement to create a joint fund to finance geological exploration activities in Russia. The fund will be set up in 2020, reports Rosgeologia. The agreement was signed by Sergey Gorkov, CEO and Chairman of Rosgeologia, and Andrey Akimov, Chairman of Gazprom Bank, … Continue reading Rosgeologia will create joint funds with Gazprom Bank and RDIF to finance geological exploration in Russia →

Russian Federal Antimonopoly Service (FAS) has announced that Schlumberger, a global oilfield services provider, withdrew its application to acquire a significant share in Eurasia Drilling Company (EDC), one of the biggest Russian drilling services providers, reports "Kommersant" business newspaper. The Commission on Foreign Investment of the Russian government approved the deal on 28 April 2018, … Continue reading Schlumberger withdraw its application to acquire Eurasia Drilling Company →

Saudi Energy Minister Khalid Al-Falih has announced that Saudi Aramco, a Saudi state-run oil company, may close the deal of purchasing a share in Novomet, a Russian artificial lift equipment manufacturer, in February 2019. In December 2018 Kirill Dmitriev, the CEO of the Russian Direct Investment Fund (RDIF), said that Saudi Aramco and Novomet had … Continue reading Saudi Aramco to acquire share in Novomet, a leading Russian artificial lift equipment manufacturer →

The Minister of Energy of Russia Alexander Novak has announced that the Ministry and other government agencies have been working on a state programme aimed at increasing production and export of Liquefied Natural Gas (LNG). Another strategic goal of the programme is to ensure that Russian LNG projects will be fully supplied with locally developed … Continue reading Russia may fully localise development and manufacturing of LNG equipment in 5-7 years →