News about Oil

$23 billion Tengiz expansion project approved A project of the Tengiz field production facilities expansion worth $23 billion has been approved.

02 October 2013

Crude production at Kashagan to be resumed in a few days Crude production was suspended September 25 due to some faults of the gas pipeline. According to first estimates, the repairs were supposed to take 3-4 days. However, oil production hasn’t been resumed yet.

02 October 2013

Brazil's Petrobras announces new oil find Brazil's oil giant Petrobras announced a new crude find Friday off the country's northeastern coast.

28 September 2013

Parliament ratifies agreement on exploitation of Kazakhstan-China pipeline Kazakhstan Parliament has ratified the agreement between Kazakhstan and Chinese governments on cooperation during development and exploitation of Kazakhstan-China oil pipeline.

26 September 2013

Kashagan accident won't harm commercial production: Kazakhstan Minister A small content of gas was discovered in the air during a check of the ground gas pipeline 2km from Bolashak oil treatment plant in Atyrau oblast.

26 September 2013

Kazakhstan to maintain oil pipeline to China without China's help There will be as few foreign workers at the Kazakhstan-China oil pipeline as possible.

24 September 2013

CU poised to unify duties on oil products The Customs Union countries - Kazakhstan, Russia and Belarus - are working to align duties on oil products to tackle corruption.

23 September 2013

CPC will not delay expansion at Kashagan: expert The Caspian Pipeline Consortium is unlikely to delay expansion at Kashagan, considering the agreements with Kashagan’s operators.

19 September 2013

Chevron wins partial victory in Ecuador pollution case An arbitration panel in the Hague has given US oil firm Chevron an important procedural victory in its battle against a $19 billion fine by Ecuador for polluting the Amazon basin region.

19 September 2013

Concept to expand Karachaganak oil project may be drafted before year end It’s a project that clearly proves that substantial investments into Kazakhstan-based oilfields can and have been recouped: Oil and Gas Minister.

18 September 2013

Greenpeace activists scale oil rig in Russian Arctic Two activists from Greenpeace were on Wednesday scaling an oil platform owned by state energy giant Gazprom in the Russian Arctic in a bid to stop it drilling for oil in a hugely sensitive area.

18 September 2013

Crude production at Kashagan expected at 8 million tons in 2014: Oil and Gas Minister Mr. Karabalin also elaborated that the Caspian Pipeline Consortium (CPC) would be able to handle the increased volume of crude.

18 September 2013

Commercial production of 75 000 barrels a day at Kashagan to start early October The maximum production level at Kashagan is 1.5 million barrels a day if the development plan is approved: Oil and Gas Minister.

17 September 2013

Kazakhstan to minimize oil imports and meet domestic demand by 2020: Oil and Gas Minister In 2014 Kazakhstan is expected to produce 83 million tons, with the figure to be brought up to 110 million tons in 2018.

17 September 2013

Oil prices down after deal on Syrian chemical weapons Oil prices fell in Asian trade Monday after a US-Russia deal on Syria's chemical weapons averted a potential Western military strike on the Assad regime.

16 September 2013

Chevron, Transocean settle over Rio oil spill US energy giant Chevron and Swiss-based rig operator Transocean signed a deal with Brazilian prosecutors on Friday to settle lawsuits over an oil spill off the coast of Rio de Janeiro.

14 September 2013

Transneft ready to ship Kashagan crude However, we need to know the anticipated volume and make sure the supplies are stable: Transneft’s spokesman.

12 September 2013

China to finance Kazakhstan’s share of investments into Kashagan Further increase of the Chinese investors’ stake in the project is not considered: Oil and Gas Minister Bolat Akchulakov.

12 September 2013

Oil prices mixed as Obama seeks to delay Syria vote Oil prices were mixed in Asian trade Wednesday, following big falls in New York and after US President Barack Obama asked Congress to delay a vote on US military action in Syria, analysts.

12 September 2013

NCOC poised to start commercial production at Kashagan in October The operator of Kashagan oilfield in Kazakhstan, NCOC consortium, is interested in starting the commercial production in October 2013.

11 September 2013

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