Kazakhstan
News
March 11, 2021
Last year BP said it would restructure the company to focus on cleaner energy and shrink its hydrocarbon business by 40% over the coming decade. Since announcing its strategy shift, the major has sold a string of oil and gas assets while making big investments in offshore wind.
News
March 10, 2021
The sustained OPEC+ production curtailment through April suggests that supply will remain constrained in the near term, even as demand continues to increase. As a result, the U.S. Energy Information Administration expects that further inventory withdrawals to meet rising crude oil demand will support crude oil prices through at least the end of April.
News
March 05, 2021
Oil rallied toward $70 a barrel after OPEC+ chose not to relax supply curbs even as the global economy pulls out of its pandemic-driven slump, confounding widespread expectations the group would loosen the taps.
News
March 04, 2021
Oil prices surged to the highest levels in nearly two years after the OPEC+ alliance surprised traders with its decision to keep output unchanged, signaling a tighter crude market in the months ahead.
News
March 04, 2021
Saudi Arabia and its OPEC+ allies stunned the oil market with a decision to keep supply in check, sending prices surging and adding inflationary pressure to the global economy as it emerges from the pandemic.
News
February 03, 2021
OPEC and its allies have taken a two-month pause while restoring some of the millions of barrels of crude output they halted when the coronavirus emerged to crush fuel demand last spring.
News
January 11, 2021
“The market has now reached a price level that potentially doesn’t reflect current fundamentals,” said Ole Hansen, head of commodities strategy at Saxo Bank A/S. “Oil could be next in line” to suffer from a stronger dollar after other commodity prices came under pressure.
News
January 08, 2021
Government-owned Abu Dhabi National Oil Co. set Murban crude at a premium of 75 cents a barrel to the regional benchmark, according to a notice from the producer.
News
January 07, 2021
State producer Saudi Aramco on Wednesday raised its flagship Arab Light oil to Asia, its biggest market, to $1 above the benchmark used by the company.
News
January 06, 2021
“We are the guardian of this industry,” Saudi Energy Minister Prince Abdulaziz bin Salman said as he announced Saudi's production cut on Tuesday, preserving the OPEC+ deal and sending oil prices to 10-month highs. He emphasized that the decision was made unilaterally by Crown Prince Mohammad bin Salman himself.
News
January 05, 2021
The deal, which emerged after two days of talks, sent crude surging to a 10-month high in New York. It appeared to give most members of the group what they wanted -- the additional price support desired by Saudi Arabia and the production boost Russia had been pushing.
News
January 04, 2021
The difference of opinion between Saudi Arabia and Russia, the two de-facto leaders of OPEC+, could make for another tricky meeting. While Russia appeared to be outnumbered, the group typically requires a consensus among all members before concluding talks.
News
December 14, 2020
The deal unlocks plans to boost output from the Karachaganak field and funnels additional revenue to the Kazakh economy, which is heading for its first annual contraction in more than two decades amid oil’s slump.
News
January 14, 2020
Sparrows Group has secured a five-year contract with Tengizchevroil to deliver specialist lifting inspection services for the Tengiz field in Kazakhstan.
News
October 31, 2019
“Our involvement in the early stages of the project means we can work with KPO across a range of work to optimize the Karachaganak field with a focus on achieving an outstanding safety performance and operational excellence,” said Mark Fields, group president of Fluor’s Energy & Chemicals business.
News
October 21, 2019
The retreat from the fields in the Kashagan area reflects an industry-wide push to cut break-even costs as megaprojects give way to smaller endeavors with quicker returns.
News
September 26, 2019
Royal Dutch Shell, Eni and their partners in the Karachaganak oil and gas venture may be required to pay an additional $1 billion to settle a dispute with Kazakhstan over revenue sharing, said people familiar with the matter.
News
July 07, 2019
Total and its partners have approved the launch of Phase 3 development of the onshore Dunga field in the Mangystau Region of western Kazakhstan.
News
June 27, 2019
Russia’s crude-pipeline operator has agreed to pay its Kazakh counterpart a fixed per-bbl compensation rate of $15 for contaminated oil.
News
May 28, 2019
Caspian Sunrise has announced that work has commenced on a third core sample taken from Deep Well A8 on the Airshagyl structure at its flagship BNG Contract Area.
News
April 15, 2019
Caspian Sunrise is pleased to update shareholders with developments at its flagship BNG Contract Area.
