Oil

Non-shale non-OPEC production. which has been resilient so far. is likely to require material reinvestment in new and existing projects over the coming years.

SOMO and Russia'.s Litasco have set up a joint trading company in Dubai to market crude.

South Azadegan is believed to hold an in-place oil reserve of about 33.2 billion barrels.

Trading was light after Thursday'.s heavy sell-off and ahead of the long weekend break in the United States and Britain.

The decision by oil producing countries to extend production cuts agreement by nine months gives the market much needed visibility.

Russia maintains its oil-price outlook at $50 to $60 on average for this year.

Eurasia project involves the exploration of deep laying horizons of the Caspian Basin.

Russia’s Industry and Trade Ministry plans to sell 365 cutting-edge Ka-62 helicopters by 2030.

Uganda estimates overall crude reserves at 6.5 billion barrels. while recoverable reserves are seen at between 1.4billion and 1.7 billion barrels.

Total said earlier in February that a final decision on the deal hinged on the new U.S. administration renewing the waivers.