Managing Director of Pergas Consortium Colin Rowley says his consortium is ready to invest in Iranian petroleum industry, train workforce and transfer technology.

A particularly important aspect of this consolidation pertains to reforms in PEMEX, the state-owned oil company. Earlier this month, PEMEX released a five-year business plan that aims at turning the company profitable by 2020, through efficiency improvements and a focus on high-return activities.

Iran and Iraq emerged as major stumbling blocks to an OPEC agreement on reducing crude-oil output, as cartel members gathered ahead of their official meeting to tackle the thorny puzzle of how to share the pain of reducing their production

Brent crude oil futures LCOc1 were up 85 cents a barrel at $49.75 by 1000 GMT (5:00 a.m. ET), having earlier risen $1 in a push against the $50 mark for the first time since the end of October. U.S. West Texas Intermediate (WTI) crude futures CLc1 were up 68 cents, or 1.4 percent, at $48.92 a barrel.

Iranian oil and gas sectors are very much attractive to foreign investors because of low cast of production, a senior expert said on Monday.

«Новатэк» ожидает, что капитальные затраты на проект «Арктик СПГ – 2» на Гыданском полуострове превысят $10 млрд. Компания ведет предварительные работы по проектированию, мощность предприятия будет аналогична «Ямал СПГ» (16,5 млн т в год), запасы газа территории могут обеспечить поставки СПГ до 70 млн т в год, ресурсная база проекта – 1,2 трлн куб. м газа и 56,5 млн т жидких углеводородов по категории С1 + С2.

Decisive steps particularly need to be taken to fight corruption, which remains the most frequently mentioned obstacle to doing business in Ukraine.

Nigeria, which was Africa's largest oil producer until a few months ago, slipped into recession after its economy shrank by 2.06% in Q2, as the impact of militant attacks on oil facilities weighed on the country's economy.

Highlights: - Revenue of $743 million - Operating income of $247 million - EBITDA of $441 million - 95% economic utilization - Reported Net Loss of $656 million and diluted loss per share of $1.29, reflecting an $882 million non-cash impairment to investments primarily relating to Seadrill Partners. - Underlying Net Income , excluding non-recurring items and non-cash mark to market movements on derivatives,was $135 million and earnings per share was $0.28. - Cash and cash equivalents of $1.3 billion - Seadrill Limited orderbacklog of approximately $3.0 billion

Tesco reported a U.S. GAAP net loss of $22.1 million, or $(0.48) per share, for the third quarter ended September 30, 2016. Our adjusted net loss for the quarter was $17.3 million, or $(0.37) per share, excluding special items, consisting primarily of several charges related to inventory and restructuring costs. This compares to a U.S. GAAP net loss of $18.9 million, or $(0.47) per diluted share, in the second quarter of 2016, and a U.S. GAAP net loss of $19.9 million, or $(0.51) per diluted share, for the third quarter of 2015. Adjusted net loss in the second quarter of 2016 was $15.8 million, or $(0.39) per diluted share, and in the third quarter of 2015 was $12.5 million, or $(0.32) per diluted share.