Statoil: Sanctions are not an obstacle for the oilfield agreement with Rosneft

08/09/2017 14:51 Oil Market


Norway’s Statoil declared that the deal with Russia’s Rosneft aiming to develop the onshore North Komsomolskoye oilfield was according to the European Union and U.S. sanctions on Russia over the conflict in Ukraine. 


Under the terms of the agreement signed in 2013, before sanctions were imposed, Statoil announced the plans to get a 33 percent stake in the northwest Siberian field. 

Statoil’s spokesman stated that the company is clear in its activities which are in full compliance with the sanctions. 

Statoil mentioned as well about the plan to seal a contract on the stake in SevKomNefteGaz LLC before getting to the next pilot production project. 

The company’s representative was quite short on the exact period when the full production will start. 

Rosneft asserted that in 2015-2016, drilling and testing led to an increase in the field’s oil and condensing reserves to 111 million metric tonnes from 52 million tonnes.

Daily (20.11.2017): UK gas prices fell on forecasts of warmer weather and an oversupplied system

20/11/2017 10:36:00

Oil prices recovered by over 2% on Friday as a major U.S. crude pipeline was shut, and traders anticipated an OPEC agreement to extend output cuts. Brent crude oil soared by $1.36, or 2.2 percent, to close at $62.72 a barrel, while U.S. West Texas Intermediate crude (WTI) settled at $1.41, or 2.6 percent, at $56.55 a barrel.


UK-Canada instituted an alliance to end up high coal use

17/11/2017 16:06:00

Great Britain and Canada have launched a global coalition to put an end to the high exploitation of coal.


Russia and Philippines will cooperate in nuclear field

17/11/2017 15:43:00

Russia will support Philippines in designing national policies in the nuclear energy field according to a memorandum of cooperation (MoC) inked on 13 November. The collaboration will consist of feasibility studies on the building of small modular reactors.