Companies

Royal Dutch Shell said last month it had agreed with Iraq’s oil ministry to relinquish operations at the Majnoon field to the government after unfavorable changes to fiscal terms.

The development of Gazprom Neft’s offshore assets remains a strategic priority for the company.

Several other foreign companies have been invited for South Pars oil venture but none have given a decisive answer.

Russian oil production has been steady. at around 10.9 million bpd due to a global pact to reduce total production by around 1.8 million bpd to support weak oil prices.

For the purposes of the memorandum. LUKOIL-Engineering and NIOC will set up exchange of data necessary to study the areas. and establish a joint working group.

Given PCG’s strength in the region’s petrochemicals sector. Saudi Aramco is proud to be entering into a deeper. mutually beneficial partnership in PIC.

The company'.s management is prepared for any situation. Gazprom Neft Middle East CEO says.

CEO Amin Nasser also says the outlook for oil supplies is '.increasingly worrying'..

Absheron’s reserves are estimated at 350 billion cubic meters of gas and 45 million tons of condensate.

The letter of intent covers the Blythe Hub and Vulcan Satellites Hub developments in the southern North Sea.