The meeting participants reviewed issues related to cooperation between the companies. Particular attention was paid to joint actions for hydrocarbon production in Russia, namely at the Urengoyskoye and Yuzhno-Russkoye fields.

Russia's Gazprom Neft said Thursday it and Shell have agreed to create a joint venture to develop fields in West Siberia with combined estimated reserves of 1.1 billion mt of oil.

«Россия лидирует по поставкам нефти в Китай: в прошлом году отгружено 67 миллионов тонн сырья. В декабре будет введен в эксплуатацию трубопровод для транспортировки в КНР газа по так называемому "восточному" маршруту. Ведутся переговоры о возможном экспорте топлива по западному направлению, а также с российского Дальнего Востока», - перечислил глава Российского государства.

Cyprus will earn an estimated $9.3 bln over 18 years from exploiting its Aphrodite gas field under a renegotiated contract with Shell, US-based Noble and Israel?s Delek, the energy minister said

Venezuela's exports of crude oil and refined products fell 17% in May from the previous month to 874,500 barrels per day

Total world crude oil production increased sharply in 2018 by 1.213 million barrels/day (mb/d), or 1.6%, as compared to 2017, to reach 75.78 mb/d, marking a historical high and the highest annual growth since 2015.

Saudi Arabia produced 9.65 million barrels per day (bpd) of oil in May, a Saudi industry source said, a deeper cut than its target set by the Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+.

The production fall resulted mainly from the closure due to oil contamination of Russia’s Druzhba pipeline, which usually ships 1 million bpd, or 1 percent of global oil demand.

Aramco hiked the July price differential for its flagship Arab Light grade by 60 cents/b to a premium of $2.70/b to the average of Oman/Dubai, the highest since January 2014, when it was a premium of $3.75/b to Oman/Dubai.

In March 2019, for the 23rd consecutive month, dry natural gas production increased year to year for the month. The preliminary level for dry natural gas production in March 2019 was 2,771 billion cubic feet (Bcf), or 89.4 Bcf/d. This level was 9.2 Bcf/d (11.5%) higher than the March 2018 level of 80.2 Bcf/d.

The transaction, among other things, will give Total control over 2.2 million mt/year of LNG to be produced by the third train at the Freeport LNG export terminal in Texas. The facility is currently preparing to begin production from its first train, after several construction- and weather-related delays hampered the project.

BHGE - U.S. Rig Count is up 1 rig from last week to 984, with oil rigs up 3 to 800, gas rigs down 2 to 184, and miscellaneous rigs unchanged at 0. Canada Rig Count is up 7 rigs from last week to 85, with oil rigs up 6 to 44 and gas rigs up 1 to 41.

Profit attributable to owners of PJSC Gazprom amounted to RUB 535,908 million for the three months ended March 31, 2019 which is by RUB 164,285 million, or 44%, more than for the same period of the prior year.

UK oil production rose by nearly 9% on the year in the first quarter of 2019 to 1.18 million b/d, continuing a half-decade revival and beating industry expectations, government statistics released Thursday showed.

Russia’s recent oil output is below the 11.18 billion bpd target Moscow has pledged as part of an international deal among producers to curb production to support prices.