2019-12-02 14:00:00
RUSSIA'S OIL PRODUCTION 11.244 MBD
REUTERS - Russian oil output rose to 11.244 million barrels per day (bpd) in November, the Energy Ministry data showed on Monday, pumping more than agreed under a deal with OPEC and other producers, a group that meets this week to discuss output policy.
Russia agreed to reduce its output by 228,000 bpd to about 11.18 million bpd in 2019 as part of cuts by the group of producers, known as OPEC+, which agreed to cut their combined output by 1.2 million bpd or 1.2% of global demand.
The Organization of the Petroleum Exporting Countries and non-OPEC producers meet in Vienna on Thursday and Friday. The Monday data showed Moscow was producing on average 64,000 bpd more than it should under the global deal.
OPEC compliance with the cuts has risen to 152% in November, up from 135% in October, according to a Reuters survey, meaning OPEC was producing less than it could under existing quotas.
Russian oil production in October was at 11.229 million bpd and the Energy Minister Alexander Novak has said that Moscow would aim to stick to its commitments in November.
Russia has called for a change to the way its output level is measured to exclude gas condensate, which accounts for about 7%-8% of Russia's total oil production, or to about 800,000 bpd.
In tonnes, oil output reached 46.019 million in November versus 47.49 million in October. Gas production was at 64.04 billion cubic metres (bcm) last month, or 2.13 bcm a day, versus 61.97 bcm in October.
Gas condensate is a high-premium light type of crude oil mainly extracted during gas production.
The Energy Ministry data showed Russia's top private gas producer Novatek had increased liquids production by 0.5% in November, month-on-month, and a growth of over 1% was recorded at fields operated by small producers and under production sharing agreements.
Reuters uses a conversion rate of 7.33 barrels per tonne of oil.
-----
Chronicle:
2023, January, 25, 10:19:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023
Link to the Congress website: https://bit.ly/3tXVmr7
2023, January, 25, 10:18:00
TRANSPORTATION OIL AND GAS CONGRESS 2023 (TOGC 2023)
Transportation Oil and Gas Congress 2023 (TOGC 2023) takes place on February 20-21, 2023. The Congress brings together representatives from the whole pipeline chain and focuses on both strategic and technical issues of the oil and gas pipeline transportation.
2023, January, 25, 10:15:00
U.S. POWER GRID PROBLEMS
The significant changing consumption needs and generation patterns are causing significant concerns that existing ageing infrastructure is becoming a major source of risk to power grid safety, reliability and financial exposure and in failing to deliver power on the expected 24 x 7, we need.
2023, January, 25, 10:10:00
СПГ КОНГРЕСС РОССИЯ 2023
СПГ Конгресс Россия – это международная инвестиционная площадка, где традиционно собираются лидеры индустрии. Ежегодно в мероприятии принимают участие более 250 операторов крупно-, средне- и малотоннажных СПГ-проектов, водородных проектов, правительство и технологические лидеры СПГ-индустрии.
2023, January, 25, 10:05:00
OIL AND GAS AUTOMATION AND DIGITALIZATION 2023
Event Title: Oil and Gas Automation and Digitalization 2023
Conference Date: 03 - 04 May 2023
Event Type: In-Person Event
Event Organizer: PTN Events
2023, January, 23, 12:40:53
OIL PRICE: BRENT BELOW $88, WTI BELOW $82
Brent was down 11 cents, or 0.1%, to $87.52, WTI fell 8 cents, or 0.1%, to $81.56 a barrel.
2023, January, 23, 12:35:00
EUROPEAN GAS PRICES UPDOWN
Dutch front-month futures, were 0.2% lower at €66.80 a megawatt-hour by 8:58 a.m. in Amsterdam, after rising as much as 3.1% earlier.