In a significant development for Iraq’s energy sector, PJSC LUKOIL has finalized a supplementary agreement with Basra Oil Company, extending the Russian oil firm’s role in the West Qurna-2 project. Taking place in Baghdad, this agreement introduces advantageous terms for LUKOIL and extends the existing service contract by a decade, setting a new horizon to […]
UK-based energy giant Shell has closed its previously announced sale of retail and lubricants businesses in Russia, that operates as Shell Neft, to Russian oil and gas firm LUKOIL. The transaction, which was announced in March 2022, was approved by Russia’s Federal Antimonopoly Service. The financial terms of the deal were not revealed. It was […]
PJSC Lukoil has wrapped up the previously announced $1.45 billion acquisition of an additional 9.99% stake in the Shah-Deniz gas project, offshore Azerbaijan from Petronas. The Russian oil and gas company has now increased its stake in the Shah-Deniz field in the Caspian Sea from 10% to 19.99%. The deal was announced last October under […]
Lukoil signed a deal worth $2.25 billion with Malaysian oil and gas company Petronas for acquiring an additional stake of 15.5% in the Shah Deniz gas project. The Russian oil and gas company will be able to increase its stake in the offshore gas project from 10% to 25.5% through the deal. Energy giant BP […]
Russian energy giants Lukoil and Gazprom Neft will form a joint venture (JV) to develop a significant oil and gas cluster in the Nadym-Pur-Tazovsky region of the Yamal-Nenets autonomous district in Russia. The JV will be headquartered at Meretoyakhaneftegaz, a subsidiary of Gazprom Neft. The Tazovskoye oil and gas condensate field, which began production in […]
Russian energy company LUKOIL has launched the construction of a catalytic cracking complex at its Perm refinery in Russia. The catalytic cracking project is being executed by the company under an agreement with the Russian Energy Ministry after securing an investment incentive as part of the negative excise tax on refinery feedstock until 1 January […]
Saasken oil discovery : Italian oil and gas giant Eni has pulled off a new oil discovery in the Cuenca Salina basin in Mexican waters through the drilling of the Saasken-1 NFW well. The exploratory well targeted the Saasken prospect contained in Block 10 in the mid-deep water of the basin, which in turn is […]