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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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.
REUTERS - Brent crude was up 69 cents, or 1.1 percent, at $64.03 a barrel by 0743 GMT. It had settled down $1.35, or 2.1 percent, on Tuesday on a wave of profit-taking after news of a key North Sea pipeline shutdown helped send the global benchmark above $65 for the first time since mid-2015. U.S. West Texas Intermediate crude was up 45 cents, or 0.8 percent, at $57.59 a barrel.
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.