Gazprom Neft, Shell to create JV to develop license blocks in Yamal

10/06/2019 08:26 Oil Market


Total reserves in place at fields to be owned by the Meretoyakhaneftegaz JV will be nearly 1.1 billion tonnes of oil

Russian oil company Gazprom Neft has agreed to form a joint venture (JV) with Royal Dutch Shell, called Meretoyakhaneftegaz, to exploit 1.1 billion tonnes of oil reserves contained in the Yamal Peninsula in northwest Siberia.


The two companies have signed all required legal documents on a sale and purchase agreement for a 50% interest in Meretoyakhaneftegaz.


Currently, Meretoyakhaneftegaz owns licensing rights to the Meretoyakhinskoye field.


Denmark eyes 10GW offshore wind 'islands' in $45bn plan

11/12/2019 08:38:00

Denmark unveiled plans for one or more ‘energy islands’ each supporting at least 10GW of offshore wind at a cost of up to DKr300bn ($44.5bn), in what could be the world’s most ambitious renewable energy scheme to date.


EU basks in 17GW solar boom

11/12/2019 08:34:00

Almost 17GW of new solar capacity has been added in the EU this year, an increase of 104% on 2018, according to a report from SolarPower Europe.


Daily (10.12.2019): German spot electricity price soars 61% on Monday on lower wind output

10/12/2019 10:43:00

Crude oil prices lost ground on Monday as exports from China shrank for a fourth straight month, escalating concerns about U.S.-China trade war over the global economy. Brent crude eased 14 cents, or 0.2%, to settle at $64.25 per barrel, after a gain of about 3% last week on news that OPEC+ would deepen output cuts. WTI crude oil lost 18 cents, or 0.3% to close at $59.02 a barrel on NYMEX.