LUKOIL - In 2018, profit attributable to shareholders amounted to RUB 619.2 bln, 47.8% higher year-on-year. The growth was constrained by higher DD&A due to the launch of new production facilities.

Oil prices rose on Monday, buoyed by output cuts by producer club OPEC and reports that the United States and China are close to a deal to end a bitter tariff row that has slowed global economic growth.

Oil prices climbed on Friday as markets tightened amid output cuts by producer club OPEC, but surging U.S. supply and concerns of global economic slowdown kept a lid on further gains.

The next 10-15 years will be a period of stable development for the oil industry and prices will remain relatively high at $60-$70/b, the CEO of Lukoil, Russia's second-largest crude producer, said Wednesday.

Brent crude oil spot prices averaged $59 per barrel (b) in January, up $2/b from December 2018 but $10/b lower than the average in January of last year.

MEOG - Saudi Aramco CEO Amin Nasser gave a speech at London Petroleum Week about the oil and gas industry's future--or, rather its perceived lack of a future. He addressed what he called a "worrying and growing belief among policy makers and regulators, investment houses, NGOs, and many others that we are an industry with little or no future."

Repsol posted net income of 2.341 billion euros in 2018, a 10% increase from the 2.121 billion earned in 2017 and the highest in eight years. This was achieved with average Brent oil prices at 71 dollars per barrel last year, compared with more than 111 dollars in 2011.

Oil prices rose on Wednesday after a report of declining U.S. crude inventories and as producer club OPEC seemed to stick to its supply cuts despite pressure from U.S. President Donald Trump.

Abu Dhabi: Energy Minister Suhail Al Mazroui said the oil market is on the “right track” and that the market will quickly return to balance in the first quarter of this year.

REUTERS - Based on current market data, the so-called OPEC+ group is “likely to continue with the production cuts until the end of the year”, the source told Reuters.

“Our industry has made a pivotal and sustained contribution to the global economy and people’s lives, around the world, day after day for over a century. Two billion more people today have access to ample, affordable, and reliable sources of energy than even just a generation ago,”

EXXONMOBIL - Exxon Mobil Corporation added 4.5 billion oil-equivalent barrels of proved oil and gas reserves in 2018, replacing 313 percent of the year’s production.

PLATTS - China's crude imports from Venezuela surged 50.7% month on month to 411,000 b/d or 1.74 million mt in January, posting the fifth month in a row of increase after hitting a four-year low last September, data released by the General Administration of Customs showed

PLATTS - The US is set to impose "even stronger sanctions" on Venezuela President Nicolas Maduro's financial networks, likely further hindering crude oil production and exports as US sanctions on state-owned oil company PDVSA entered their fifth week, US Vice President Mike Pence said Monday.

GAZPROM - The corresponding decisions on the termination of membership in the Gazprom Management Committee will be adopted by the Company’s Board of Directors.