FSUOGM - Former Soviet Union Oil & Gas
Iran's call at Caspian nations meeting for end to Israel oil supplies awkward demand for Azerbaijan, Turkey
Europe went into this year’s heating season, which started on November 7, with its tanks full to bursting; the EU gas storage tanks were close to 100% full as the weather turned cold.
Sultan al-Jaber, the oil executive who is leading the COP28 climate summit in Dubai, has rocked the conference with highly controversial remarks that there is “no science” that phasing out fossil fuels is necessary.
The US ambition is to halve Russia’s revenues from oil and gas by the end of the decade.
TotalEnergies will share its AUSEA methane detection, measurement technology with SOCAR, Sonangol and Petrobras.
Rosneft raised its hydrocarbon production by 10.7% in the first nine months of this year to 5.5mn barrels of oil equivalent per day.
Azerbaijan is actively working to carve out a greater market share for its natural gas in Europe – targeting some countries that once relied heavily on Russian gas.
About half of the world's oil firms, totalling almost 50 companies, have committed to achieving "near zero" methane emissions and discontinuing routine flaring in their operations by 2030, and achieving net zero by 2050.
Petrostates are currently confronted with significant challenges arising from the ongoing energy transition. The diminishing demand for oil and gas is exerting downward pressure on commodity prices, which in turn threatens future revenue streams.
The group failed to agree on an additional cut that would apply to all members, so leading producers have once again decided to cut over and above the OPEC+ quotas
Kazakhstan joins Global Methane Pledge at COP28 and promises reduction in oil output at OPEC+ meeting
Russian state oil pipeline operator Transneft posted 8% year-on-year revenue growth under IFRS to RUB980bn ($11bn) in 9M23. Net income grew 47% y/y to RUB245bn.
Russia’s largest crude oil producer state-controlled Rosneft posted 76% year on year net IFRS profit growth to RUB1.07 trillion ($12bn) in 9M23. In 3Q23 alone net profit jumped 2.6-fold y/y to RUB419bn.