The board of India’s Oil & Natural Gas Corp. Ltd. approved a $5-billion offshore oil and natural gas development plan for the Krishna-Godavari basin off the country’s east coast.

Rosneft set a new record, having increased hydrocarbon production up to 254.2 mmtoe (5.16 mmboed). Development drilling meterage increased by 36% and reached 6.9 mln meters. More than 1.8 thousand of new wells were commissioned.

Neil Atkinson, head of the IEA’s Oil Industry and Markets Division, said in Singapore on Wednesday. About $300 billion is needed to sustain the current level of production, and nations including the U.S., Canada, Brazil, and Mexico are facing difficulty in keeping up investments, he said.

Federal lawyers on Tuesday formally asked a judge in New Orleans to approve a record-breaking $20 billion-plus settlement agreement announced last July by the Department of Justice and five Gulf Coast states to resolve years of legal fighting about the 2010 Gulf oil spill.

Revenue during the year fell by 20.9% to $1,668.8 million (2014: $2,110.9 million) reflecting activity reductions as spending by our customers has reduced, pricing pressures, reduced spend on reimbursable type contracts and changes in mix between our business units. EBITDA decreased by 7.9% to $289.8 million over the same period as the impact of these lower revenues was offset by significant reductions made to our cost base.

U.S. Rig Count is down 12 rigs from last week to 464, with oil rigs down 15 to 372, and gas rigs up 3 to 92. Canadian Rig Count is down 14 rigs from last week to 55, with oil rigs down 1 to 11, and gas rigs down 13 to 44.

The total US rig count, which on Friday stood at 476, is now at its lowest point ever in the 67-year history of the Baker Hughes numbers, according to data released by the oilfield service company.

U.S. Rig Count is down 4 rigs from last week to 476, with oil rigs up 1 to 387, and gas rigs down 5 to 89. Canadian Rig Count is down 29 rigs from last week to 69, with oil rigs down 16 to 12, and gas rigs down 13 to 57.

Иран приглашает российские нефтяные компании в проекты по повышению эффективности действующих месторождений и в разработке новых проектов. В настоящее время российская сторона ожидает предоставления условий нового контракта.

This is American energy security, American jobs, U.S. government revenue and American GDP tied up by political red tape. This is a once in a generation opportunity, stuck, off limits to future generations as it waits for forward-looking energy policy.

U.S. Rig Count is down 9 rigs from last week to 480, with oil rigs down 6 to 386, and gas rigs down 3 to 94. Canadian Rig Count is down 31 rigs from last week to 98, with oil rigs down 22 to 28, and gas rigs down 9 to 70.

“We need contracts, tenders and technology,” he said, describing Iran as a “garden” in need of nourishment. “Money for the Iranian economy is like water.”

Government said on Thursday it hoped to unlock gas and oil resources worth almost $40 billion by simplifying licensing rules and offering price incentives to recover gas from difficult offshore fields.

U.S. monthly crude oil production in December 2015 continued to decline, as oil production reached its lowest level since November 2014. Production also declined from year-ago levels for the first time in more than four years. This continued production decline is the result of lower crude prices, which have declined more than 70% since the summer of 2014.

Production drilling has commenced on the first of a total of 35 wells to be drilled during Phase 1 of the Johan Sverdrup field development offshore Norway in the North Sea, operator Statoil ASA reported.