Companies

The move comes as BP re-evaluates its portfolio in the wake of a dramatic slump in oil prices three years ago.

Joint project company will be named TurkAkim Gaz Tasima AS. says Russian daily.

Sechin’s oil price forecast is basically in line with Russia’s economic estimates from earlier this year.

Petronet will buy the LNG on delivered basis with a price equivalent to about 12.5 percent of Brent oil prices.

Exxon has been in talks with Russian gas giant Gazprom for years over gas sales from Sakhalin-1.

Gazprom'.s 2018 plan for gas production is expected to exceed 430 billion cubic meters. which were initially planned for 2017.

As well as accelerating the transition to gas. Van Beurden has advocated a price on carbon and worked to promote hydrogen as a transport fuel.

Total had announced earlier in August that it would acquire Maersk Oil for $5 billion. bolstering its position among the world'.s largest oil companies.

Petrobras is the world’s most indebted oil producer and has been forced to sell assets and slash spending.

The company said it began initial restart of the 560.500 barrel per day (bpd) Baytown refinery on Friday night.