RUSSIAN OIL OUTPUT: 10.61 MLN BPD
Oil production in Russia increased by almost 0.9 percent month-on-month in September to 10.61 million barrels per day (bpd) largely because of increased output at joint ventures with foreign majors, Energy Ministry data showed on Thursday.
In tonnes, Russian oil output reached 43.411 million in September versus 44.472 million in August, a month which has one more day than September.
Oil output under production sharing agreements (PSA), designed in the 1990s to encourage investment by foreign oil companies, jumped by 24 percent in September to almost 1.23 million tonnes (298,844 bpd).
The ministry does not provide a breakdown of the data for the projects, which include Sakhalin-1 of Rosneft, ExxonMobil , ONGC and Sodeco; Sakhalin-2 involving Gazprom , Shell, Mitsui, and Mitsubishi ; and Kharyaga with Total, Statoil and Zarubezhneft.
Small firms, which the ministry defines as "other producers", increased their oil production by 1.5 percent, while output at Rosneft, the world's top publicly traded oil company, remained flat, at 3.8 million bpd.
Russian daily gas output rose to 1.52 billion cubic metres (bcm) per day last month from 1.38 bcm in August.
Natural gas production at Gazprom, the world's largest gas producer, jumped 14 percent from August to 968 million cubic metres a day on an increase in seasonal demand.
|July, 16, 11:05:00|
|July, 16, 11:00:00|
|July, 16, 10:55:00|
|July, 16, 10:50:00|
|July, 16, 10:45:00|
|July, 16, 10:40:00|
AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.