Tag Archives: Lukoil

Moscow agreed to contribute around 0.3 million bpd to the cuts and Russian state and private companies are sharing the burden on a pro-rata basis.

Saudi Arabia and Russia have been the drivers of the production agreement.

OPEC and allied oil producers should extend their production cuts beyond March to help rebalance the market.

At least US$10bn of deals signed at flagship industry event. including Adnoc partnership with China’s state oil company.

The massive size of the agreements is a very important data point for western oil and gas firms. which have been jockeying for a position in Iran’s high-potential petroleum sector.

France'.s Total signed a $4.8-billion contract in July to develop the South Pars Gas Field.

Total has a 50.1 percent share in the 20-year deal. The state-owned China National Petroleum Corp. has a 30 percent stake and Iran’s Petropars has 19.9 percent.

Technical negotiations with Lukoil on Mansouri and Abteymour oilfields had already been finalized.

Russia’s state-owned Rosgeologia is in talks with Zarubezhneft. Gazprom Neft and Lukoil on joint implementation of projects in Iran.

Tehran aims to sign 10 new oil and gas deals by the end of the current fiscal year (March 20. 2018).