U.S. OIL GAS PRODUCTION WILL UP
EIA, OGJ - Crude oil production from the seven major US onshore producing regions is forecast to rise 122,000 b/d month-over-month in June to average 5.401 million b/d. All but 15,000 b/d of the increase is expected to come from the Permian and Eagle Ford.
Gas production from the seven regions is forecast to gain 557 MMcfd month-over-month in June to 51.316 bcfd. All seven regions are expected to show increases, with the Permian up 160 MMcfd to 8.56 bcfd, Haynesville up 130 MMcfd to 6.455 bcfd, Eagle Ford up 112 MMcfd to 6.136 bcfd, Niobrara up 61 MMcfd to 4.678 bcfd, Utica up 49 MMcfd to 4.431 bcfd, Marcellus up 22 MMcfd to 19.258 bcfd, and Bakken up 14 MMcfd to 1.798 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.
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.