Companies

Petronas will continue to focus on growing its crude oil business which now contributes to 80% of its $1.5 billion revenue from India.

The complex is in line with the kingdom’s economic diversification objectives.

Rosneft also plans to close the deal to buy a stake in India'.s refiner Essar Oil in the coming days.

In recent months. onshore U.S. oil producers have seen oil field service costs rise with the increase in drilling activity in places like West Texas and Oklahoma.

Statoil is cutting its exploration guidance for this year from US$1.5 billion to US$1.3 billion related to efficiency gains and stricter prioritization.

This project is made possible by Air BP and Essendon Fields sharing a vision that growth in aviation requires a competitive fuel service.

The new US sanctions are supposed to limit the financing period for sanctioned Russian banks to 14 days. and for sanctioned oil and gas sector companies to 60 days.

Novatek is one of Russia’s largest independent producers of natural gas.

The document was signed by First Deputy CEO. Gazprom Neft. Vadim Yakovlev and OIEC CEO Behzad Mohammadi.

Other stakeholders in the Stabroek Block are Hess Guyana Exploration which has a stake of 30% and CNOOC Nexen Petroleum Guyana which holds the remaining stake of 25%.