Russia

The new deal will focus on developing Arctic onshore blocks in a region where a successful LNG project already exists.

Saudi energy minister warns speculators not to bet against the OPEC+ alliance.

The meeting with project partners comes less than a month after Mammoet was awarded an unloading, transportation, and installation contract.

The proposed Russian LNG project would sell LNG to Asia by 2025. It is the latest in a handful of LNG projects slated for Russia.

The savings result in part from the depreciation of global currencies against the US dollar, as most operating expenses in oil and gas production are realized in local currencies. Brazil leads in savings.

Shell remains involved in the Salym Petroleum Development JV with Gazprom after dropping out of the planned Meretoyakhaneftegaz JV.

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.

A total of 12.2 billion BOE was discovered worldwide in 2019—the highest volume in 4 years, with offshore regions dominating the list of new deposits.

Separate collaboration agreements between ADNOC and Lukoil, Gazprom Neft, and the Russian Energy Agency cover all segments of the oil and gas industry, including upstream technology and exploration and development of Abu Dhabi concessions.

With a production capacity of nearly 20 mtpa, Wood Mackenzie says the project would be the largest single project to reach FID. Novatek plans to spend more than $21 billion to launch the project at full capacity. Startup is scheduled for 2023.