Archive for the ‘oil’ Category

Russia Increases Oil Production   1 comment

Russia, the world’s largest oil producer, has increased monthly crude output by 0.3 percent in May of 2013, to the highest level of the year,according to preliminary data from the Energy Ministry’s CDU-TEK unit.

Output of crude and condensate was 44.3 million metric tons, or 10.481 million barrels a day.

OAO Gazprom (GAZP), Russia’s gas export monopoly, boosted output by 5.8 percent to 353,000 barrels a day. OAO Rosneft (ROSN), the world’s largest publicly traded oil producer, and its subsidiary OAO TNK-BP produced 3.85 million barrels last month, up 0.3 percent from April, according to the data.

Russia set a post-Soviet-era production record of 10.49 million barrels a day in November. Soviet-era production in Russia peaked in 1987 at 11.48 million barrels a day. President Vladimir Putin has called for production to be maintained at more than 10 million barrels.

For more information on the Russian oil industry, contact RADA LLC, a leading provider of due diligence services in Russia, the Caucasus, and Central Asia.

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2013: The Year of the Snake   Leave a comment

year-of-the-snake

RADA conducts due diligence and business intelligence investigations in Russia, Ukraine, Belarus, Poland, Romania, Moldova, Latvia, Lithuania, Estonia, Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan.

Russian Crude Oil Forecast For 2012   Leave a comment

January 21, 2012: The Russian Energy Ministry expects crude oil production to edge up by 1 percent this year to a new record as a decline in output at traditional fields will be offset by a rise in new deposits, a deputy minister said today.

Last year, oil output in Russia, the world’s top crude producer, edged up 1.2 percent to reach a new post-Soviet high of 10.27 million barrels per day (bpd), or 511 million tonnes.

“Taking into consideration companies plans, this would be around 1 percent. We will add some 5 million tonnes,” said Sergey Kudryashov. The growth would slow further from 2.2 percent in 2010.

 

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RADA conducts due diligence and business intelligence investigations in Russia, Ukraine, Belarus, Poland, Romania, Moldova, Latvia, Lithuania, Estonia, Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan.

RADA LLC: Offering Due Diligence in Azerbaijan   Leave a comment

RADA LLC is well established in Baku, and offers a complete range of investigative, due diligence, and background check services throughout Azerbaijan.

Russia to Boost Oil Exports to China   Leave a comment

Prime Minister Vladimir Putin opened the Russian section of an oil pipeline that will boost oil exports to China from East Siberia.

“This is an important project because we are beginning to diversify the delivery of our energy resources,” Putin said at today’s opening of the pipeline in Skovorodino in Russia’s Far Eastern Amur region, in comments posted on his official website. “Thus far, shipments were made to our European partners.”

Putin said Russia is currently pumping 120 million to 130 million tons of oil to Europe and only “a small amount to Asia Pacific,” according to comments on his site.

“The China-Pacific pipeline is the most important energy project in Russia since the opening of the gas pipeline to Europe,” said Chris Weafer, chief strategist at UralSib Financial Corp., in e-mailed comments today. “It means that Russia’s strategic importance to China has increased considerably.”

Construction of the 64-kilometer (40-mile) pipeline on the Russian side was launched by OAO Transneft, the oil pipeline monopoly, in April 2009, according to Vesti-24 television. From the border, the pipeline will run a further 960 kilometers to the Chinese town of Daqing, located in the country’s northeast. China will begin testing after completion of its section of the pipeline in late September, Vesti added.

Igor Sechin, Putin’s deputy for energy, said Russia would also open 500 gas stations across China, Vesti added.

Max Petroleum to Continue Work in Kazakhstan   1 comment

kazakh_oilOil and gas explorer Max Petroleum Plc announced that Kazakhstan’s energy ministry had extended the exploration period of the company’s Astrakhanskiy block license by two years until Jan. 12, 2012.

The Kazakhstan-focused company said the amendment to the licence also established a three-year project, including a commitment to start drilling the first exploration well on the block by Dec. 31, 2009.

Focus on Azerbaijan   Leave a comment

azerbaijan1Azerbaijan may be the oldest petroleum producing region in the world, going back to the third and fourth centuries. Many Arabic and Persian authors refer to the production of oil on the Apsheron Peninsula.

Marco Polo also saw the oil. He commented that it was not good to eat, but understood that it could be used as a fuel or medicine.

There are also many 18th and 19th century accounts of the Zoroastrian Fire Temple at Surakhany, where the fire was fed by natural gas from a cavern.

Azeri oil “boomed” beginning in the 1870s. The ancient site of Surakhany retained its importance. Even though Russian capital predominated, foreign interests began to participate as well. British firms, in particular, were able to commence operations as a result of their purchase of operations from Hajji Zeynalabdin Taghiyev.

Production increased after the Revolution, and offshore exploration began. During the war, oil fields were staffed largely by women and veterans. The entire Caucasus region, particularly Baku, was of key strategic importance throughout the war.

After gaining its independence, Azerbaijan has sought-and been successful in obtaining-significant foreign investment not only for petroleum but other industries as well.

For example, the Shah Deniz field was discovered in 1999. A gas plant was built at Sangachal Termanal in 2007, and is now a leading gas producer.