Latest news
Lukoil starts operations of two wells at D41 field in Baltic Sea
LUKOIL has announced the commencement of commercial operation of two wells at D41 offshore field in the Baltic Sea.
read more... 17/05/2019
Lukoil reaches 100 MMt of oil at West Qurna-2 field
Cumulative production at the West Qurna-2 field has reached 100 MMt of oil as part of successful implementation of Phase 1 of the project. With 184 wells drilled at the field, the average daily production rate is 400,000 bbl.
read more... 24/04/2019
Daily (23.04.2019): Oil prices surged by 2.9% on Monday after U.S. commitment to cancel waivers on Iranian crude imports
Crude oil prices jumped to a 2019 high on Monday, on prospects of a tighter supply raised by U.S. commitment to end all sanction waivers as of May 1 for the eight countries that import Iranian oil. Ongoing U.S. sanctions against Iran and Venezuela, as well as OPEC’s production cuts also supported prices. Brent crude soared by 2.9% to $74.04 a barrel, while WTI futures surged by 2.4% to $65.55 a barrel.
read more... 23/04/2019
Daily (10.04.2019): NBP spot soared by over 10% on Tuesday amid system undersupply
Crude oil prices pared earlier gains on Tuesday, following an unexpected increase in U.S. crude inventories and Russia’s comments on a potential rise in its oil production after OPEC’s meeting in June. However, OPEC-led supply cuts as well as U.S. sanctions against Iran and Venezuela capped losses. Brent crude price edged down by 0.7% to $70.61 a barrel. The same decline was noticed in WTI futures, which ended at $63.98 a barrel.
read more... 10/04/2019
Daily (09.04.2019): WTI crude at its 5-month high on Monday due to conflict in Libya
Crude oil prices increased on Monday, bolstered by concerns that civil unrest in Libya could lead to a tighter crude supply. OPEC’s production cuts as well as U.S. sanctions against Iran and Venezuela also supported prices. Brent crude price rose by 1.1% to $71.10 a barrel. Meanwhile, WTI futures hiked by 2.1% to $64.40 a barrel, after data showed a drop in the crude inventories at the WTI delivery point in Cushing, Oklahoma.
read more... 09/04/2019