Rosneft
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Russia’s largest oil company is moving quickly to shed underperforming brownfield assets to raise capital and transform itself into a major LNG player this decade. The state-owned giant is making the move as natural gas positions itself for a growing role in the energy transition.
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US sanctions appear to have prompted a change in ownership. It is unclear how the new arrangement will impact Venezuela’s diminishing ability to export crude oil.
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Advancements in extended-reach drilling continue from the ExxonMobil-operated Sakhalin-1 project. The latest “super complex” horizontal well stretches 15,000 m, which partner Rosneft says is a “world record.”