Kazakhstan plans to reallocate or sell more than 100 onshore and offshore oil and gas blocks, hoping to find new owners of discovered fields and prospective new discoveries, Upstream reports, citing a government lease auction notice.
Crude oil production in Kazakhstan, which is part of the OPEC+ output deal, plunged by 13% in August from July due to regular maintenance at one giant field and an unplanned halt at another huge oilfield, Reuters reported on Monday, quoting two sources with knowledge of daily production data.
Russian Energy Ministry would like to see the recovery of oil production at the Sakhalin-1 project halted by Exxon in this year, Minister Nikolay Shulginov told reporters at the Eastern Economic Forum.
Russia is perhaps the world’s only country able to fully provide itself with natural resources, President Vladimir Putin said at a plenary session of the Eastern Economic Forum (EEF) on Wednesday.
Sibur plans to launch the Amur Gas Chemical Plant (GCP) in 2025-2026 and will change processing technologies due to sanctions, CEO of the Russian petrochemical major Mikhail Karisalov said at the Eastern Economic Forum.
Implementation of the Amur Gas Chemical Plant also continues.
Crude oil prices jumped by 3% early on Monday.
Capping the price of Russian oil, an approach G7 members said Friday they want to pursue “urgently,” would be an unprecedented move and one which some analysts say could backfire.
A critical nuclear power plant in Ukraine again lost external power, international energy officials said on Saturday (3 September), heightening concerns as the energy battle between Moscow and the West ramped up in recent days amid the ongoing war.
The number of total active drilling rigs in the United States dropped by 5 this week.