Brazilian state-controlled oil company Petrobras produced an average of 2.74 million barrels of oil equivalent per day (MMBOE/d) in July — a 2.5% decline over total oil and gas production in June due to a scheduled stoppage, Kallanish Energy learns.
Russia’s largest independent oil producer Lukoil reported on Tuesday an increase of 7.6% in its natural gas production during the second quarter of 2017 thanks the start-up of new developments earlier this year, Kallanish Energy learns.
Libya’s National Oil Corporation (NOC) said on Tuesday production at the country’s largest oilfield, Sharara, was gradually returning to normal rates after hours of interruption due to an armed protest, Kallanish Energy learns.
Not different from its European peers Shell and Total, Norwegian oil major Statoil also reported solid financial results and strong cash flow on Thursday, thanks to high production efficiency, higher realised prices and continued cost improvements.
Anglo-Dutch oil supermajor Shell reported Thursday a cash generation resiliency over four consecutive quarters, at an average oil price of under $50 a barrel, as its “financial transformation” helps the company to become “completely fit for the future.”