A recovery in Lukoil's crude production nudged up oil output in Russia, the world's largest producer, to 10.53 million barrels per day (bpd) in September to match the post-Soviet record high, Reuters reported on October 2, citing Energy Ministry data.
Reuters has reported that Brent futures slipped below $109 a barrel on Thursday, after posting their biggest gain in two weeks in the previous session, on worries a prolonged U.S. government shutdown would hurt demand in the world's biggest oil consumer.
Lukoil, Russia's second-biggest oil producer, wants to sell its stake in a Russian consortium developing a large oil project in Venezuela because it is not a high priority, Reuters reported on October 2, citing Lukoil's head.
Max Petroleum's SAGW-6 appraisal well in the Sagiz West Field has reached a total vertical depth of 1,453 metres, with electric logs indicating 30 metres of net oil pay over a 93 metre interval at depths ranging from 1,194 to 1,287 metres, the company reported in a news
The Siemens gas turbine SGT6-5000F sets a new benchmark in the industry by demonstrating 25 ppm NOx emissions on fuel oil. The current industry standard is 42 ppm for other OEM F-Class gas turbines.
Analysts believe China may cut the price of refined oil on Friday in response to a drop in global crude oil prices.
Brazil’s state-led oil company, Petroleo Brasileiro, and its Indian partners have made a “beautiful” oil discovery off Brazil’s northeast coast and it will produce a minimum 100,000 barrels of petroleum a day starting in 2018, the company’s chief executive officer has sa
Despite rising production and commodity prices, investing at North American oil fields has turned sluggish.
China's state-owned oil firm China National Offshore Oil Corporation (CNOOC) has won a $2bn (£1.3bn) deal to develop an oil field in Uganda oil.
The Kingfisher field is estimated to hold 635 million barrels of oil, of which 196 million are recoverable.