Rosneft Finance S.A. (Rosneft subsidiary) has paid off series 2 eurobonds amounting to $1 bln of total nominal value. Those eurobonds were issued by the former TNK-BP Group in 2006, maturing 10 years later, with the coupon rate of 7.5% p.a.

"We recognise that market conditions are currently very difficult but nevertheless we have a shared goal of making the basin as attractive as possible for exploration," Andy Samuel, chief executive of the OGA, said.

Venezuela and state oil company PDVSA face heavy debt payments this year amid weak oil markets and continuing decay of its socialist economic model. Neither have been able to borrow in recent years because the extremely high yields have made such operations too costly.

“We see continued progress on our plan to improve efficiency and make faster and deeper cost reductions. As an additional tool to strengthen the company’s financial flexibility, we have successfully introduced a scrip dividend”, says Sætre.

Golar LNG Limited (“Golar”) and Schlumberger today announced the creation of OneLNG℠, a joint venture to rapidly develop low cost gas reserves to LNG. The combination of Schlumberger reservoir knowledge, wellbore technologies and production management capabilities, with Golar’s low cost FLNG (Floating LNG) solution, will offer gas resource owners a faster and lower cost development thereby increasing the net present value of the resources.

Объёмы добычи нефти за первое полугодие составили 270 миллионов тонн – это на 2,1 процента выше по отношению к прошлому полугодию. «По газу мы увеличили объёмы экспорта в первом полугодии по сравнению с прошлым годом примерно на шесть миллиардов кубических метров, или на 6,8 процента. По нефти прирост составил 6,2 процента, по углю – 8,2 процента. В этом году впервые общий объём экспорта угля на восток превысил западное направление», - доложил Министр.

India's ultimate goal is to have an SPR that provides 90 days of net import coverage. The Indian government unveiled plans to add another 91 million barrels of SPR capacity in a second phase by 2020, although these facilities are still in the planning phase. The Indian Strategic Petroleum Reserves Limited (ISPRL), a special-purpose legal entity owned by the Oil Industry Development Board, would manage all of the SPR facilities.

The Philippines relies overwhelmingly on imports to fuel its fast-growing economy. That reliance will grow further in a few years when the main source of domestic natural gas runs out, so the clock is ticking for it to develop offshore fields that China shows no sign of loosening its grip on.

“Our second quarter results showed resilience in the face of another challenging quarter marked by lower activity levels and continued pricing pressure around the globe,” said Dave Lesar, Chairman and CEO.

Exxon Mobil Corporation (NYSE: XOM) and InterOil Corporation (NYSE: IOC, POMSoX: IOC) announced an agreed transaction worth more than $2.5 billion, under which ExxonMobil will acquire all of the outstanding shares of InterOil (the ExxonMobil Transaction).

Schlumberger Chairman and CEO Paal Kibsgaard commented, “In the second quarter market conditions worsened further in most parts of our global operations, but in spite of the continuing headwinds we now appear to have reached the bottom of the cycle. As we continued to navigate this challenging environment, we again delivered robust pretax operating income, operating margin, and free cash flow. This performance came as a result of our strong execution and, in some cases, at the expense of revenue as we began shifting focus onto recovering our pricing concessions and high-grading our contract portfolio".

Bob Dudley, BP group chief executive said: " BP today is a stronger, more focused and more disciplined company. We continue to actively develop a strong, balanced portfolio and we are managing the business for value over volume. Our relentless group-wide focus on capital and cost discipline is helping BP to become much more efficient while maintaining the investment needed for future growth".

“The industry has got a real problem,” says Chris Pateman-Jones of Ernst & Young. “Projects are becoming larger and more complex and more challenging … Even if they were to hit their targets, they could still be uneconomic.”

International Brent crude oil futures LCOc1 were trading at $44.93 per barrel at 0501 GMT, up 21 cents from their last close. U.S. West Texas Intermediate (WTI) crude CLc1 was at $43.23, up 10 cents per barrel.

The NYMEX crude oil contract for September declined $1/bbl to settle at $44.75/bbl on July 21. The October contract dropped $1/bbl to close at $45.45/bbl. The natural gas contract for August gained 3¢ to $2.69/MMbtu. The Henry Hub gas price declined 2¢ to $2.70/MMbtu on July 21.