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SGTZY Surgutneftegas PJSC (CE)

0.62
0.00 (0.00%)
02 Jul 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Surgutneftegas PJSC (CE) USOTC:SGTZY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.00 0.00% 0.62 0.00 01:00:00

Russia To Switch To International Oil, Gas Reserves Standards By 2012

17/11/2010 3:58pm

Dow Jones News


Surgutneftegas PJSC (CE) (USOTC:SGTZY)
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Russia plans to harmonize its oil and gas reserves classification with international standards by 2012, the Resources Ministry said Wednesday.

"From 2012, Russia should introduce a new classification of hydrocarbon reserves in harmony with international SPE [Society of Petroleum Engineers] PRMS standards," said Grigori Vygon, head of the ministry's economy and finance department.

He said gas reserves of Russia's state-run OAO Gazprom (GAZP.RS) under Russian standards are 25% higher than those under international standards.

Russia had originally planned to introduce the new standards in 2009, but then postponed the introduction.

-By Jacob Gronholt-Pedersen, Dow Jones Newswires; +7 495 232 9197; jacob.pedersen@dowjones.com

 
 

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