Tag oil production

A Matter of CapEx

Ronald Smith, also known as Ron Smith, Citigroup’s oil and gas analyst covering Russia and the CIS, argues in the Financial Times (if you cannot access it, try googling the title and reading Google’s cache) that Russia is likely to…

“What falleth, that shall one also push”

Almost two months ago, in October 2016, I wrote that Russian oil companies could reduce their daily oil output by slowing down production growth at newly launched fields and by reinvesting less in mature fields, increasing their decline rate to…

“No more growth” is the message?

OPEC expects Russia to produce at the same average rate in 2017 as in 2016, which means a slight decrease from the current daily output. The IEA acknowledges that, if Russia can continue pumping at the same rate as in October,…

The wisdom of doing nothing

The International Energy Agency’s estimates of global oil demand growth – watch the evolution: May (2016): 1.2 mmbpd y-o-y in 2016. June: 1.3 mmbpd in 2016, 1.3 mmbpd in 2017. July: 1.4 mmbpd in 2016, 1.3 mmbpd in 2017. August:…

A painless cut

Bloomberg cites Putin supporting a universal oil freeze: “Russia is ready to join in joint measures to limit output and calls on other oil exporters to do the same,” Putin said on Monday at the World Energy Congress in Istanbul.…

The August blip/trough explained

OK, here’s the apparent reason for Russia’s daily oil output inching down by 2%+ this month from the average July rate. Actually, the shortfall has lately narrowed a little to about 30,000 tons per day or 220,000 bpd, less than 2%…