Oil Sector News

Destruction of the oil industry of Venezuela is beneficial for Russia

The “Rosneft” company is the largest investor in the oil industry of Venezuela. Russian oil company invested about $6 billion in the economy of the Latin American state.

“Ukrnafta” is outraged by the fact that the subsoil became a "bargaining chip" in corruption schemes, and demands to stop the arbitrariness in the Arkon

Employees of “Ukrnafta” report that central executive authorities prevent the extension and obtaining special licenses for the use of subsoil.

Venezuela transferred income from oil sale in Gazprom bank

Due to the US sanctions against Venezuela “PDVSA” oil company started to transfer accounts in Russia Gazprombank.

Turkey detains Russian tankers carrying oil

Turkey changed the maritime rules through the Bosporus and The Dardanelles. It led to delays in the supply of oil from Russia to Europe.

Due to American sanctions, the level of oil production abs supply declined in Venezuela

Oil exports from Venezuela declined sharply after the imposing of US sanctions against the state owned oil producing company Petroleo de Venezuela SA (PDVSA).

Norwegian oil and gas company platforms will run on wind power

The oil and gas company Equinor plans to provide electricity to its platforms in the North Sea using wind generators.

“Ukrtransnafta” increased the volume of oil transit to Europe

In January 2019, the total volume of oil transit through the system of main oil pipelines reached 1.259 million tons, which is 3.2% more than in January 2018.

Ukrainian Energy Exchange accepts applications for electronic auctions on oil and gas sites

The State Service of Geology and Subsoil of Ukraine put out 10 new lots for the sale of permits for the use of subsoil through the electronic platform CE “Ukrainian Energy Exchange”.

7 oil and gas fields in Ukraine for international mining companies were presented in London

Today, January 29, the Ukrainian Forum on Exploration and Production of natural gas is taking place in London.

Oil prices began to decline because of events in Venezuela

According to the stock trading, the cost of North Sea Brent oil on the morning of January 28, 2019 dropped below $61 per barrel.

Ukraine increased oil production by 5.3% in 2018

The Ministry of Energy and Coal Mining reported that Ukraine increased oil production by 5.3% (75.5 thousand tons) in 2018 compared to 2017 up to 1 million 511.2 thousand tons.

What was said about oil at the economic forum in Davos

The most interesting statements about oil, voiced at the annual meeting of the International Economic Forum.