IRAN & RUSSIA STRATEGIC COOPERATION
According to SHANA, Deputy Managing Director of National Iranian Oil Company (NIOC) Gholam-Reza Manouchehri said on Tuesday that Russia is now producing 10 million barrels of crude a day.
"Not only willing to cooperate with Zarubezhneft Company as investor in the fields, we are also calling for fully benefiting from their state of art technology," he added.
He then referred to measures taken by the two sides to hold more sessions in the next two months so that the Russian party will provide a roadmap. He said based on talks held, the Russian company will provide strategic methods for raising coefficient of oil recovery from Aban and West Paidar Fields.
The Russian company's envoy then said his company will do its best to benefit from superior technology in EOR to develop fields.
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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.