Oil will stabilise around $55 to $65 a barrel as Opec (Organization of Petroleum Exporting Countries) fulfills its agreement to cut output, with stockpiles and shale production keeping prices from rising much more, said the Middle East head of R
Over the next year, the price of $60 per barrel will be dominant, reported Russian News Agency TASS, citing a top official of Lukoil, Russia's leading oil company.
"If we analyze the history of such operations, within six
National Iranian Oil Company (NIOC) has signed agreements with three leading Russian oil companies for bilateral cooperation, a report said.
Memorandums of Understanding (MoUs) were inked between Iran and the Lukoil, Tatneft and Z
Lukoil has expressed interest in re-entering the Iran market with the terms of the International Petroleum Contracts (IPCs), likely to be unveiled by October, the company’s CEO was quoted as saying by Iran Daily.
Russia's Lukoil is continuing talks with the Iraqi government over increasing investment and oil output at its West Qurna-2 project there, the company's first vice president Ravil Maganov told reporters on Tuesday.
Iran's participation is not essential for the oil market to move closer to balance if a global agreement on freezing production is signed in Doha next month, Leonid Fedun, one of Russia's most prominent oil bosses, said.
Iran is planning several projects to expand its oil production and export capabilities, reports said, highlighting a new oil terminal to export one million barrels per day (bpd), and a $1.7 billion development of South Pars Gas Field.
Eriell, a leading Russian oilfield services group, has signed a contract with Lukoil Middle East to drill 25 production wells at the West Qurna-2 oilfield, a report said.
The contract provides for the project implementation within
Saudi state oil company Saudi Aramco wants to raise its share in Luksar, a joint venture with Russia's Lukoil, to 50 per cent, the chief executive of the Russian company said on Wednesday.
"They are interested in taking t
Lukoil will likely pull out from Saudi Arabia where the economics of its search for gas have been crushed by the collapse of the oil price, three industry sources said.
Lukoil is Russia's largest private oil company. The Russi