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07.10.2013 Kashagan Oil Field Resumes Output

A consortium developing Kazakhstan's giant Kashagan oilfield has resumed production after an industrial accident halted work last month, Reuters reported on October 7, citing the Kazakh Oil and Gas Ministry and the consortium.

07.10.2013 Gazprom Neft Wary of New Taxes

New proposals to tweak taxes for oil extraction and exports will have a negative impact on oil production, the head of Russia's fourth-largest crude producer said on Friday, adding that the company will struggle to keep up its output next year, Reuters reported on Octobe

07.10.2013 Brazil Readies Major Oil Auction

After almost six years of waiting, Brazil's energy giant Petrobras is readying a major auction this month of its deep-water "pre-salt" oil reserves, despite fears of excessive state meddling, AFP reported on October 4.

07.10.2013 Rosneft Has Enough Resources to Export Oil to the East – Igor Sechin

Rosneft’s resources exceed the oil pipeline capacities in the eastern direction by 15%, Rosneft head Igor Sechin has said.

04.10.2013 Gazprom on Track for Launch of Arctic Field

Gazprom has announced that it is on track to begin oil production this year at the Prirazlomnoye Arctic oil project that has ignited protests from environmental groups over the dangers of possible oil spills, Reuters reported on October 3.

04.10.2013 Shelton Petroleum Posts Record Flow Rate from New Oil Well

The fourth well on the Rustamovskoye oil field in Russia has been taken into production with an initial flow rate exceeding 300 barrels per day, which is significantly higher than the field’s previous wells, Shelton Petroleum said in a press release on October 3.

04.10.2013 China May Raise Price Bid for Kazakh Oil

China may offer a higher price for oil from Kazakhstan’s Kashagan project as it competes for the crude with other countries surrounding the Central Asian state, Bloomberg reported on October 3.

03.10.2013 Lukoil Helps Russian Oil Output Match Post-Soviet High

A recovery in Lukoil's crude production nudged up oil output in Russia, the world's largest producer, to 10.53 million barrels per day (bpd) in September to match the post-Soviet record high, Reuters reported on October 2, citing Energy Ministry data.

03.10.2013 Brent Slips Below $109 as US Shutdown Drags on, Stocks Build

Reuters has reported that Brent futures slipped below $109 a barrel on Thursday, after posting their biggest gain in two weeks in the previous session, on worries a prolonged U.S. government shutdown would hurt demand in the world's biggest oil consumer.

03.10.2013 Russia's Lukoil Seeks Exit from Venezuelan Oil Project

Lukoil, Russia's second-biggest oil producer, wants to sell its stake in a Russian consortium developing a large oil project in Venezuela because it is not a high priority, Reuters reported on October 2, citing Lukoil's head.