Bashneft, Zarubezhneft

Russia's investment in Iraq may grow to $30 billion

The total investment of Russian oil and gas companies (Lukoil, Bashneft and Gazpromneft) in Iraqi projects to date has exceeded $10 billion, deputy chairman of the Federation Council’s Commit

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In June, Rosneft maintains leadership in gas production among independent producers

In January-June 2017, Rosneft increased its gas production by 3.8% compared to the same period last year to 23.776 billion cubic meters, the Central Dispatch Department of the Fuel and Energy Secto

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Oil companies confirm the previous plans on oil production

Vladimir Putin has received the formal consent of the Russian oil companies to freeze the production at the level of January. It will be easy, neither the Ministry of Energy, nor any experts expected the growth in 2016, and new launches are offset by a decrease in the production from older fields. In response, the industry asked the President to retain the current tax burden, and, according to the Minister of Energy Alexander Novak, this request was heard. The agreement of the oil companies on the freezing should give Moscow an additional trump card in negotiations on curbing the production with the largest global manufacturers.
Yesterday, Vladimir Putin held a long-awaited meeting with heads of the Russian oil companies - Rosneft, Lukoil, Gazpromneft, Bashneft, Tatneft, Zarubezhneft, Surgutneftegaz and the Independent Oil and Gas Company. The industry believed that at the meeting the President could put conditions before the oil companies to curb the production. However, the decision to freeze the volumes, supplied to the market, at the level of January this year, was announced by Vladimir Putin before the talk with the oil companies. "As the Minister (of Energy Alexander Novak) reported, all of you (representatives of the oil companies) agree to the proposal, - the President said before the meeting.- Some of you have even more radical proposals". The purpose of the meeting, according to Vladimir Putin, was to hear it from the oil companies themselves.

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Gazprom, Tatneft, Transneft, Lukoil and Novatek included in top five companies in terms of transparency

Gazprom retains the first place in the ranking. Delegation of the gas company, headed by chairman of the Board Alexei Miller, took part in the Forum "Asia-Pacific Economic Cooperation", the APEC business summit in Manila (Philippines).
The second position belongs to Tatneft, which considerably strengthened its results in a rating. The company became the winner of the first All-Russian competition among mass media, press centers of energy companies and regional administrations "MediaTEK". The press centre of "Tatneft" won the first prize in the main category "Open Media Centre" - for creating the most open and efficient service of public relations in the energy sector.
Transneft is also among the three leaders. In November, the company launched its new staff management information system. The system solves the problems of business processes unification and gives the possibility to form legislative, corporate and operational reporting.

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Russia again is the global leader in oil production

Since the beginning of the year, Russia took the assured first place in the world in oil production - and this is contrary to the forecasts of the Government and companies. In January-May, Russian oil companies produced 220.356 million tons (10.697 million barrels per day), which is by 1.2% more than in 2014. Analysis of data on the oil production shows that the main credit in this leadership belongs to small and medium-sized independent oil companies. However, taking into account the state of the resource base and the tax system, it will be difficult to maintain this championship.
Other things being equal
According to the Central Dispatch Department of the Fuel and Energy Sector, the May production figures in Russia grew to 1.6% (in comparison with the May volumes in the previous year) to 10.708 million barrels per day. We are ahead of Saudi Arabia with its 10.25 million barrels per day.
According to the official statistics, the largest share of the record volumes of the produced oil belongs to vertically integrated oil companies. Thus, in the first five months of this year, Rosneft produced 78.513 million tons of oil (in May - 16.112 million tons), Lukoil - 35.787 million tons (in May - 7.327 million tons), Surgutneftegaz - 25.453 million tons (in May - 5.235 million tons), Gazpromneft - 14.084 million tons (in May - 2.910 million tons), Tatneft - 11.041 million tons (in May - 2.276 million tons), Slavneft - 6.472 million tons (in May - 1.317 million tons), Bashneft - 7.921 million tons (in May - 1.630 million tons). The entire volume of oil, which was produced by the vertically integrated oil companies from January to May makes up 182 437.792 thousand tons.

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The largest Russian oil companies look to the President for protection

As the Kommersant has got to know, scandal arose around the new government policy on procurement and import substitution. The seven largest Russian oil and gas companies declaimed against it. They are dissatisfied with a bill, already approved by the State Duma in the first reading, which puts the industry under special control, creating the risk of disclosure of business information and reducing the use of schemes to circumvent sanctions. The document is fraught with problems in other industries too, but not everybody has read it carefully there. The oil companies believe that the Parliament Building incorrectly interpreted the ideas of Vladimir Putin. He will be able to clarify the situation at a special meeting with the Government today.
In mid-April, leaders of Rosneft, Lukoil, Gazpromneft, Zarubezhneft, Bashneft, Surgutneftegaz and Novatek wrote a letter to Vladimir Putin, criticized the amendments to the Federal Law "On Procurements". The latter were developed on the basis of the President's speech to the Federal Assembly in December 2014. He proposed to create "a special coordination centre, task of which will be to link the implementation of major projects with the placement of orders at Russian companies". "We need to remove the critical dependence on foreign technology and industrial products," - said the President. In March, the Prime Minister Dmitry Medvedev reported that he would head the new agency, on April 21, the State Duma approved the corresponding draft law in the first reading.

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On January 30, A.Novak held meeting with head of oil and gas companies on development of the FEC in 2015

The Minister of Energy of the Russian Federation Alexander Novak has held a meeting with the management of oil and gas companies on development of the industry in 2015.
The meeting was attended by representatives of the Ministry of Energy, Surgutneftegaz, Gazprom, Gazpromneft, Russneft, Sibur, Bashneft, Novatek, Transneft, Lukoil, Zarubezhneft, Tatneft and Rosneft. Perhaps, only invitation of NOC was interesting thing.
In 2014, according to A.Novak, it managed to solve the basic problems and get good production results.

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