Managing Director of the National Iranian Oil Company (NIOC) Ali Kardor said Iran has so far recovered 1,060 billion cubic meters of natural gas from the supergiant South Pars Gas Field, adding the recovery has fetched Iran over 191 billion dollars in revenue.
Iran plans to strike $80 billion worth of oil contracts over coming two years as the country is set to implement newly-developed IPC contracts, a deputy head of National Iranian Oil Company (NIOC) said
Group results Adjusted operating profit: €1.83 billion, up by 215% or €1.25 billion, vs first quarter of 2016 Adjusted net profit: €0.74 billion (up by €0.74 billion vs the first quarter of 2016) Net profit: €0.97 billion Strong cash generation: €1.93 billion, up by 41% vs the first quarter of 2016; €2.60 billion before changes in working capital at replacement cost, up by 76% Capex: €2.83 billion (€2.42 billion on a pro-forma1 basis), in line with our strategy to bring cashgenerative projects on stream in 2017 Disposals agreed in the first quarter of 2017 of €2.9 billion, approximately 60% of the minimum target planned for the 2017-2020 four-year period Net debt: €14.9 billion, in line with the end of 2016 Leverage at March 31, 2017: stable at 0.28
Construction of the TurkStream gas pipeline was commenced in the Black Sea near the Russian coast.
Russian state oil firm Rosneft is struggling to close its $12.9 billion acquisition of India's Essar Oil Ltd because six of Essar's Indian creditors have yet to approve the deal, sources close to the talks said.
Net income attributable to Rosneft shareholders amounted to RUB 13 bln in 1Q 2017 (+8.3% vs adjusted net income in 1Q 2016) in view of significant negative effect of foreign exchange rates due to RUB appreciation.
TESCO reported a U.S. GAAP net loss of $13.7 million, or $(0.29) per share, in the first quarter of 2017. Adjusted net loss for the quarter was $13.4 million, or $(0.29) per share, excluding special items, consisting primarily of charges related to restructuring costs. This compares to a U.S. GAAP net loss of $20.1 million, or $(0.43) per diluted share, in the fourth quarter of 2016, and a U.S. GAAP net loss of $56.8 million, or $(1.45) per diluted share, in the first quarter of 2016. Adjusted net loss in the fourth quarter of 2016 was $13.3 million, or $(0.28) per diluted share, and in the first quarter of 2016 was $17.9 million, or $(0.46) per diluted share.
Nigeria’s oil production level has recovered to 2 million bopd, Nigerian National Petroleum Corporation (NNPC) Group Managing Director Maikanti Baru said late on Tuesday.
Statoil reports adjusted earnings of USD 3.3 billion and an IFRS net operating income of USD 4.3 billion in the first quarter of 2017. The IFRS net income was USD 1.1 billion.
Compared with the first quarter 2016, CCS earnings attributable to shareholders excluding identified items increased by $2.2 billion, mainly driven by higher contributions from Upstream and Chemicals, partly offset by higher net interest expense.