LUKOIL ESTIMATES SANCTIONS
The chief executive of Russia's top non-state oil company Lukoil said on Friday his firm was evaluating the implications of Western sanctions on its joint venture with France's Total.
The United States has imposed sanctions on leading Russian energy companies including Gazprom, Rosneft and Lukoil, preventing U.S. firms from supporting their activities in exploration or production from deep water, Arctic offshore or shale projects.
Lukoil was planning to drill for tight oil in Siberia with Total. Total is also developing the $27 billion Yamal liquefied natural gas project with Russia's second-largest natural gas producer, Novatek, and China's CNPC.
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BLOOMBERG - Treasury Secretary Steven Mnuchin told a Texas judge that Exxon Mobil Corp. doesn’t have a right to see privileged documents related to a $2 million fine assessed against the energy company for violating sanctions related to Russia’s 2014 invasion of Ukraine.
NPD - Preliminary production figures for June 2018 show an average daily production of 1 747 000 barrels of oil, NGL and condensate, which is an increase of 88 000 barrels per day compared to May.
NOVATEK - In the first half 2018, NOVATEK’s hydrocarbons production totaled 264.3 million barrels of oil equivalent (boe), including 32.93 billion cubic meters (bcm) of natural gas and 5,864 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons production by 6.3 million boe, or by 2.4%, as compared to the first half 2017.
REUTERS - Brent crude futures LCOc1 were down 75 cents, or 1 percent, at $78.11 a barrel by 0308 GMT, having fallen as low as $77.60. U.S. crude CLc1 was down 55 cents, or 0.7 percent, at $73.56.