India wants to keep buying Iranian oil at its current level of about 300,000 barrels per day (bpd), as it negotiates with Washington about extending a sanctions waiver past early May, two sources with knowledge of the matter said. New Delhi is asking to be allowed to still buy Iranian oil at current levels of around 1.25 million tonnes per month, or about 300,000 barrels per day, the sources said.

British oil and gas production rose 4 percent to 1.7 million barrels of oil equivalent per day in 2018 compared with the previous year, according to the Oil and Gas Authority, an industry regulator.

Net income in 2018 was US$ 7,173 million, equivalent to US$ 0.55 EPS, reflecting higher operating income and improved financial results, due to lower interest expenses as a result of lower indebtedness and gains due to the renegotiation of debts of the electric sector.

PETRONAS’ Profit after Tax (PAT) rose by 22 per cent in 2018, to RM55.3 billion, compared to RM45.5 billion in 2017, on the back of higher revenue and supported by net write-back of impairment on assets. These were partially offset by higher net product and production costs, depreciation and amortisation as well as tax expenses.

Oil prices edged up on Monday after Saudi oil minister Khalid al-Falih said an end to OPEC-led supply cuts was unlikely before June, while a report showed U.S. drilling activity fell for a third straight week.

Saudi Arabia produced 10.1 million b/d of crude oil in February, well below its quota under an OPEC/non-OPEC supply accord of 10.31 million b/d,

The United Arab Emirates (UAE) will continue to deliver on crude oil supply cuts under a producer agreement until the global market is re-balanced, Minister of Energy and Industry Suhail al-Mazrouei said on Sunday.

Libya’s biggest oil field resumed production, adding another complication to OPEC’s effort to trim a global supply glut.

Oil prices crept up on Thursday amid ongoing OPEC-led supply cuts and U.S. sanctions against exporters Venezuela and Iran, but gains were capped by record U.S. crude output and rising commercial fuel inventories.

Oil prices fell on Wednesday as bullish output forecasts by two big U.S. producers and a build in weekly U.S. crude stockpiles outweighed OPEC-led production cuts.

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.