Russia's Novatek Says Gas Output Down 2.7% In 2016

Source: Reuters 1/13/2017, Location: Asia

Russia's No.2 natural gas producer Novatek said its gas output declined by 2.7 percent in 2016, while gas condensate and oil production jumped by almost 37 percent as it commissioned new fields.

Novatek's natural gas output declined to 66.10 billion cubic metres last year.

Production of gas condensate and crude oil, classified as "liquids", rose to 12.44 million tonnes, helping Russia's overall oil output reach a new post-Soviet high of 10.96 million barrels per day last year.

Novatek, controlled by its CEO Leonid Mikhelson and businessman Gennady Timchenko, a friend of Russian President Vladimir Putin, had planned to keep natural gas production flat in 2016 while targeting a 30 percent rise in output of crude oil and gas condensate.

For 2017, it expects a small decline in gas output.


United States >>  8/4/2022 - ConocoPhillips (COP) reported second-quarter 2022 earnings of $5.1 billion, or $3.96 per share, compared with second-quarter 2021 earnings of $2.1 bil...
Iraq >>  8/2/2022 - Genel Energy has announced its unaudited results for the six months ended 30 June 2022.

Paul Weir, Interim Chief Executive of Genel, said:<...


Brazil >>  8/1/2022 - Petro Rio S.A., informs its shareholders and the market in general of the start of production of the 7-FR-55H-RJS (“MUP3A”) well in the Frade Field (“...
Egypt >>  8/1/2022 - Highlights:
- Increased production guidance: Group 2022 entitlement production guidance is increased to 3,480 - 3,795 boe/d from 3,330 - 3,...


Norway >>  8/1/2022 - - Supporting Europe’s energy supply with additional volumes
- Wintershall Dea’s position as a leading subsea operator in Norway strengthened
United States >>  8/1/2022 - Nostra Terra, the international oil & gas exploration and production company with a portfolio of production and development assets in Texas, USA, is p...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.