U.S. OIL PRODUCTION DOWN 8%
According to EIA, US crude oil production during April amounted to 8.933 million b/d, a decline of 2.5% from the March average and 7.9% from the April 2015 average.
Reflecting the drop, oil output in Texas during April was down 1.4% month-over-month and 10% year-over-year to 3.23 million b/d. North Dakota recorded production of 1.04 million b/d, down 6% month-over-month and 10.6% year-over-year.
Output from the federal US Gulf of Mexico fell 3% month-over-month in April to 1.589 million b/d, still 3.5% higher than its year-ago average.
US natural gas production during April was 89.54 bcfd, a loss of 1.7% compared with the March level and 1.8% compared with the April 2015 level.
Texas's gas production averaged 22.663 bcfd, a monthly increase of 0.2% but still down 6.4% year-over-year. Pennsylvania's output fell 1.9% month-over-month but was up 10.7% year-over-year, averaging 14.307 bcfd.
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LUKOIL - The plan is based on the conservative $50 per barrel oil price scenario. Sustainable hydrocarbon production growth is planned in the Upstream business segment along with the growth in the share of high-margin projects in the overall production. In the Downstream business segment, the focus is on the improvement of operating efficiency and selective investment projects targeted at the enhancement of product slate.
BP - BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. The great majority of this investment will fund Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource BP and BP will have two seats on the board of directors.
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ROSATOM - On December 10, 2017, the construction start ceremony took place at the Akkuyu NPP site under a limited construction licence issued by the Turkish Atomic Energy Agency (TAEK). Director General of the ROSATOM Alexey Likhachev, and First Deputy Minister of Energy and Mineral Resources of the Turkish Republic, Fatih Donmez, took part in the ceremony.