Kazakh court fines Kashagan oilfield operator $6.6 mln fine, media says

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• The biggest oil and gas deals since the turn of the century

  Chevron, the U.S. oil major, completed its acquisition of Hess for $53 billion on Friday after it had been negotiating with Hess. The triumphant In a landmark court battle, Exxon Mobil's larger rival won access to the largest oil discovery of recent decades. Chevron’s acquisition of Hess gives the company a 30 percent stake in Guyana’s Stabroek Block. This is one of the largest deals in the oil industry. The U.S. Federal Trade Commission has increased its scrutiny of mergers and acquisitions, especially in the shale oil industry. This includes deals involving Exxon Mobil, Diamondback Energy Occidental Petroleum, and Expand Energy, formerly called Chesapeake Energy. Here are some of the biggest deals that have taken place in the oil and gas industry since 2000: Chevron acquires Texaco for $39.5 billion and becomes one of the world's largest energy companies. ConocoPhillips is the third largest oil company in the United States. The merger of Conoco with Phillips Petroleum and the Federal Trade Commission was approved for $18 billion. Chevron has agreed to purchase California rival Unocal, for approximately $16.4 billion. This is after fighting off Italian oil company Eni and Chinese CNOOC as well as other rumored bidders. ConocoPhillips acquired Burlington Resources for $35.6 billion and gained access to lucrative positions within North American basins rich in gas. Statoil, a Norwegian energy company, buys Norsk Hydro's oil and gas assets for $30 billion. This creates a new firm called Equinor. Exxon Mobil buys XTO Energy in exchange for approximately $30 billion worth of stock. This acquisition will help to strengthen its position as a major U.S. producer of natural gas. Rosneft, the state-owned oil company of Russia, buys TNK BP from UK-based BP for $55 billion. Kinder Morgan has finalized a deal worth $21 billion to purchase El Paso Corp. This merger of the two biggest natural gas pipeline operators will result in a combined company. Kinder Morgan purchases all publicly-traded units (Kinder Morgan Energy Partners LP and Kinder Morgan Inc. with Kinder Morgan Management, El Paso Pipeline Partners), in a $70 Billion deal. Shell, then known as Royal Dutch Shell, acquires British rival BG in a $70 Billion deal. Marathon Petroleum acquires rival Andeavor at a price of $23 billion. Occidental Petroleum has acquired Anadarko Petroleum for $38 billion. ConocoPhillips acquires Concho Resources in the top 2020 shale oil deal for $9.7 Billion. Saudi Aramco has completed its purchase of 70% of the petrochemicals firm Saudi Basic Industries, for a total price tag $69.1 billion. PipeChina acquires oil and gas storage facilities and pipelines from PetroChina in a $55.9 billion deal. Aker BP, a Norwegian oil company, buys Lundin Energy from Sweden for $13.9 billion in cash and shares. This will create Norway's 2nd largest publicly listed oil company. BHP Group has agreed to sell its petroleum division to Woodside Petroleum as part of a $28 billion merger. This will create a new oil and gas company with assets for growth in Australia and America, now called Woodside Energy. Magellan Midstream Partners unitholders vote to sell the company to ONEOK, a larger competitor, for $18.8 Billion. This will create one of the largest U.S. pipeline companies. Exxon Mobil has agreed to purchase Pioneer Natural Resources for $59.5 billion in all-stock transaction. This would make Exxon Mobil the largest producer in the U.S.'s largest oilfield, and ensure a decade of low cost production. Chevron has agreed to purchase smaller rival Hess Corp for $53 billion in an all-stock transaction. This puts the company in direct competition with Exxon Mobil, in two of the fastest-growing oil basins in the world - shale gas and Guyana. Occidental Petroleum has agreed to purchase privately-held CrownRock for $12 billion in cash and stock. This is the largest deal since Anadarko Petroleum's debt-ridden acquisition in 2019. Diamondback Energy has signed an agreement with Endeavor Energy Partners to buy the privately-held rival in a cash-and stock deal worth $26 billion. The acquisition will boost Diamondback's presence in the Permian Basin. Reporting by Seher D. Dareen in Bengaluru and Sourasis B. Bose and Roshia S. Sabu. Editing by Shinjini Ganguli and Jamie Freed. Arun Koyyur, Anil D'Silva and Arun K. Koyyur.

• Sources say that the Caspian Pipeline increased oil exports in June by 8% from May.

  CASPIAN PIPELINE CONSORTIUM RAISED OIL EXPORTS IN JUNE BY 8% FROM MAY TO 6.177 MILLION TONS - TWO SOURCES Two industry sources said on Monday that the Caspian Pipeline Consortium (CPC), which transports oil via Russia's Black Sea Terminal from Kazakhstan, increased its exports in June by 8% compared to May. Last month, the oil exports via CPC's pipeline increased to 6.177 millions metric tons or 1.63million barrels per day. The consortium that handles over 80% of Kazakhstan's oil exports does not comment on the production activity. Sources said that only oil exported from Kazakhstan via this route increased to 5.580 millions tons last month from 5.386 in May as the country ramped production up to match a record monthly high. CPC, which includes Chevron, ExxonMobil and other shareholders, expects oil exports this year to be down by 2.6% compared to the initial plan of 74 million tonnes. Reporting by

• Sources say that the restart of Iraqi Kurdish oil exports is not imminent.

  Sources close to the issue said that, despite Iraq’s federal government stating on Thursday that oil shipments would be resumed immediately, there is no imminent restart. Baghdad has been in talks with Erbil since February to resolve a standoff that has stopped oil flows from the northern part of Iraq to Turkey's Mediterranean Port of Ceyhan. Before the pipeline's closure in March 2023, the KRG produced about 435,000 barrels of oil per day. The federal government announced on Thursday that Iraqi Kurdistan will resume oil exports through the pipeline into Turkey immediately despite drone strikes that have closed down half the region's production. A source from APIKUR - a grouping of oil companies operating in Kurdistan - said on Friday that the restart of production was dependent on receiving written agreements. A second source at KAR Group which operates the pipeline said that no plans had been made to restart. Reporting by Ahmed Rasheed and Anna Hirtenstein Writing by Alex Lawler Editing David Goodman

• Analyst: Ukraine has stored 9 billion cubic meters of gas.

  ExPro, an analysis firm, said that Ukraine had over 9 billion cubic meters (bcm), or around 29% of its total storage capacity in underground storage as of Friday July 17. It said that the reserves were 13.9% lower than the same period in last year and at their lowest level for the past 12 years. After Russian missiles damaged the production facilities to the east of Ukraine, Ukraine was forced to increase gas imports and withdraw more gas from storage this winter and in the spring. ExPro reported that gas injection volumes were higher than the previous year. Since July 1, more than 940 mcm has been pumped in to storage facilities. Last month, the energy minister stated that Ukraine would need to import at least 4,6 bcm (billion cubic meters) of gas in order to heat its homes during winter 2025/26. (Reporting and editing by PhilippaFletcher; YuliiaDysa)

• What were the names of the two pilots that flew the Air India jet which crashed?

  Sources briefed by U.S. officials on their early assessment of the evidence said that a cockpit recording of dialogue between two pilots of an Air India flight which crashed last month confirms that the captain stopped the fuel flow to the plane's engine. Here is a short profile of both pilots, based on media reports and the preliminary investigation report: CAPTAIN SUMEET SABHARWAL The 56-year old pilot had a valid airline transport pilot's license until May 14, 2026. He was cleared to fly in the role of pilot-in command on several aircraft, including the Boeing 787, 777 and Airbus A310. He has accumulated a total of 15,638 flying hours. Of these, 8,596 were spent on a Boeing 7. According to a report in the Times of India, Sabharwal called his family at the airport and assured them that he would call again once he landed in London. He was described as a gentleman by a pilot who briefly spoke with him. FIRST OFFICER CLIVE KUNDER The 32-year old had a commercial license that was issued in the year 2020 and was valid until 26 September 2025. He was cleared to fly the Cessna 172, Piper PA-34 Seneca and Airbus A320 as well as Boeing 787 as a co-pilot. His total flying time was 3,403 hrs. One-hundred and twenty eight hours were spent as a copilot on a 787. Indian media, citing his family, reported that Kunder has been a passionate flyer since his school days. In 2012, he began working as a pilot. He joined Air India as a pilot in 2017. Reporting by Abhijith and Adityakalra, editing by Jamie Freed

• Baghdad claims KRG agreed to resume oil exports to a state-owned oil marketer despite drone attacks

  Iraqi Kurdistan's oil exports will resume through a pipeline in Turkey following a two-year stop, the Iraqi federal government announced on Thursday. This was despite drone attacks which have resulted in a shutdown of half of region's production for a fourth consecutive day. Baghdad, Erbil and the semi-autonomous region have been in talks since late February about ending a standoff that had stopped the flow of goods from the north to Turkey's Mediterranean Port of Ceyhan. Baghdad announced that the Kurdistan Regional Government will begin immediately supplying at least 230,000 barrels of oil per day to the state oil marketer SOMO, for export. This is in accordance with a new contract approved by the federal Cabinet. On Thursday, drone attacks continued against Iraqi Kurdistan’s oilfields. Officials pointed to Iran-backed militias for the attacks. The attacks are the first of their kind in the area and coincide with the first attack in seven months by Houthi militants, who are aligned to Iran, on ships in the Red Sea. The region's anti-terrorism service reported that the strike on Thursday was against an oilfield operated in Tawke by Norway's DNO. This was the second strike of the week on a DNO site, which operates Tawke and Peshkabour in the Zakho region bordering Turkey. Security officials said that the drones were coming from areas controlled Iran-backed militias, but no group has claimed responsibility. Two energy officials reported that no casualties were reported but the oil production in the region was reduced by 140,000 to 150,000 barrels per day. Awaiting financial details In a statement, KRG Prime Minster Masrour Bazani stated that the government has approved a joint agreement with the federal government. It is awaiting the financial details. In the past, similar agreements failed to bring about a revival of exports. It is unclear whether this agreement will be successful. Requests for comments from oil producers in Kurdistan including DNO Energy, Gulf Keystone Petroleum, Shamaran Petroleum and Genel Energy did not receive a response immediately. The previous demand was that the production-sharing contract should be left unchanged, and the debt of almost $1 billion settled. Before the pipeline's closure in March 2023, the KRG produced about 435,000 bpd. Both sides have been under pressure from the United States to come to an agreement to resume exports. Iran supports militant groups in Iraq that are a part of the Islamic Resistance, which is a group of ten hardline Shi'ite armed militias with about 50,000 fighters. Since the Gaza War erupted, they have claimed responsibility of dozens missile and drone strikes on Israel and U.S. troops in Iraq and Syria. Hunt Oil, a US-based company, operates the Ain Sifni Oilfield in Dohuk Region. It was attacked Wednesday. Hunt Oil reported that no employees were injured, but the company had to close down its facilities in order to assess damage.

• The Arctic LNG 2 facility in Russia is the second LNG vessel sanctioned this year.

  Shiptracking data from LSEG/Kpler revealed that a liquefied gas (LNG), vessel subject to U.S. sanction, docked this week at Russia's Arctic LNG 2 facility, marking the second vessel sanctioned in this year to visit the plant. It could be a sign that Arctic LNG 2 has resumed loading, which is also under the same Western sanctions due to Russia's conflict in Ukraine. Kpler data shows that the tanker Voskhod unloaded itself as it approached the Arctic LNG 2 facility on Wednesday. Arctic LNG 2's first vessel of the year was the Iris. It loaded a cargo on the 26th of June. The vessel, which is near the island of Kolguyev in western Russia, has loaded its ninth cargo. The U.S. Department of State imposed sanctions in October on owners and managers of LNG vessels, including Voskhod (formerly North Mountain). According to the shipping database Equasis, while Voskhod is still owned by LNG Beta Shipping as its registered owner, Igarka OOO has taken over the role of commercial manager or ship on May 23, with a registered office in Moscow. I was unable to locate contact information for LNG Beta Shipping and Igarka. The Arctic LNG 2 Project, owned by Russia's Novatek at 60%, was set up to be one of the largest LNG plants in the country, with a final output of 19,8 million metric tonnes per year. The sanctions have hampered its prospects and it has had difficulty selling LNG from the project. (Reporting and editing by Christian Schmollinger; Emily Chow)

• What were the names of the two pilots that flew the Air India jet which crashed?

  The Wall Street Journal reported Wednesday that a cockpit recording of the dialogue between two pilots on the Air India flight which crashed last month shows the captain cut off the fuel flow to the Boeing 787's jet engines. Here is a short profile of both pilots, based on media reports and the preliminary investigation report: CAPTAIN SUMEET SABHARWAL The 56-year old pilot had a valid airline transport pilot's license until May 14, 2026. He was cleared to fly in the role of pilot-in command on several aircraft, including the Boeing 787, 777 and Airbus A310. He has a total of 15,638 flying hours. Of these, 8,596 were spent on a Boeing 7. According to a report in the Times of India, Sabharwal called his family at the airport and assured them that he would call again once he landed in London. He was described as a gentleman by a pilot who briefly spoke with him. FIRST OFFICER CLIVE KUNDER The 32-year old had a commercial license that was issued in the year 2020 and was valid until 26 September 2025. He was cleared to fly the Cessna 172, Piper PA-34 Seneca and Airbus A320 as well as Boeing 787 as pilot-in-command. His total flying time was 3,403 hours. One-hundred and twenty eight hours were spent as a copilot on a 787. Indian media, citing his family, reported that Kunder has been a passionate flyer since his school days. In 2012, he began working as a pilot. He joined Air India as a pilot in 2017. Reporting by Abhijith and Adityakalra, editing by Jamie Freed

• Armenpress reports that the US has informed Armenia that it is prepared to manage a transport corridor with Azerbaijan.

  The Armenpress reported that Nikol Pashinyan, Armenia's Prime Minister, said on Wednesday that the U.S. offered to manage an upcoming transport corridor connecting the majority of Azerbaijan with an Azerbaijani enclave through Armenian territory. Baku wants to secure the potential corridor that would run approximately 32 km (20 miles), through Armenia's southern Syunik Province, connecting Azerbaijan's majority to Nakhchivan (an Azerbaijani enclave bordering Baku's Turkish ally). Azerbaijan is concerned that Yerevan may revoke the access to the corridor too easily. When asked at a press conference if Armenia received a specific offer from Washington in relation to the corridor proposal, Pashinyan replied: "Yes, the United States has made proposals," Armenpress reported. The transit link is just one of many obstacles to a deal for peace between Azerbaijan, a neighbour in the South Caucasus who has fought wars with Armenia since the 1980s. In March, the countries announced that they had finalised their a draft peace deal The timetable for signing the agreement is still uncertain. Pashinyan made his comments just days after Tom Barrack, the U.S. Ambassador to Turkey, stated that Washington had proposed taking over the planned Transit Corridor. It's not a joke that they are arguing about 32 kilometers of road. Barrack, according to the State Department's readout, told reporters last Friday in New York that this dispute has been ongoing for over a decade. What happens then is that America says, "Okay, let's take it over." You can share the road if you give us 32 km of road for a 100-year lease. (Reporting and Writing by Lucy Papachristou, Editing by Andrew Osborn.)

• Trade agreement between US and Indonesian firms

  Donald Trump, the President of the United States, announced that Washington would lower its tariffs to 19% instead of threatening 32%. Increased Indonesian purchases of U.S. aircraft, energy and agricultural products will help Jakarta offset its nearly $18 billion positive trade balance. What we know so far about the deal: ENERGY Trump stated that Indonesia will purchase $15 billion of U.S. Energy Products, but did not give specific details. Pertamina, the Indonesian state-owned energy company, announced on Wednesday that it had signed Memorandums Of Understanding with several U.S. firms to optimize feedstock and crude purchases. These agreements included a collaboration in the refinery industry. The deal was reported last week to include Exxon Mobil Corp. and Chevron. AGRICULTURE Trump said that the agreement included Indonesian purchases worth $4.5 billion of American agricultural products. Last week, Indonesian wheat flour mills signed a $1.25 billion agreement with U.S. counterparts for the purchase of at least 1,000,000 metric tons U.S. Wheat per year between 2026 and 2030. reported exclusively that the deal would include purchases by instant-noodle giant Indofood while U.S. counterparts include Cargill, Bunge Global SA, Pacificor, Archer-Daniels-Midland, Columbia Grain International, and United Grain Corporation. Data from a local trade association revealed that the U.S. exported almost 700,000 tonnes of wheat to Indonesia by 2024. This made it Indonesia's third largest export destination, after Australia and Canada. Details on the quantity of soybeans, corn and cotton are not yet available. AVIATION Trump stated that Indonesia had committed to buying 50 Boeing jets. Trump did not give any details about the timeline for the purchase. Garuda Indonesia was said to be involved in the agreements for aircraft purchases. Garuda CEO announced last week that the company was in discussions with U.S. Boeing about buying up to 75 aircraft, including 737 MAX 8, 787 jets and other models.

• Middle East flights suspended by airlines

  After the 12-day war between Iran and Israel, which ended in a ceasefire brokered by the United States at the end June, many airline services are still disrupted throughout the Middle East. The main Imam Khomeini Airport in Tehran reopened on 4 July after a suspension of flights of 20 days due to Israeli attacks against Iran. However, airspace closures and safety concerns are still affecting airline traffic. Here are some airlines that have cancelled flights from and to the region. AEGEAN AIRLINES From July 10, the Greek airline will resume a part of its flight schedule from and to Beirut, and also from and to Tel Aviv. AIRBALTIC AirBaltic, a Latvian airline, has announced that it will cancel all flights from and to Tel Aviv up until 30 September. AIR CANADA The Canadian carrier suspends its flights between Toronto and Dubai until August 3rd. The Canadian carrier had already delayed the resumption to service between Canada and Israel until September 8. AIR EUROPA From July 14 until July 31, the Spanish airline will fly to and from Tel Aviv every day except Saturdays. AIR FRANCE-KLM KLM, the Dutch subsidiary of the group, has suspended its flights from and to Tel Aviv until further notice. DELTA AIR LINES Travel to, from, or through Tel Aviv could be affected between June 12 and July 31. EMIRATES Emirates has cancelled all flights from and to Tehran until July 17. FINNAIR Finnish Airlines announced that between July 10th and September 2nd, all Doha flights would be rescheduled so they depart 25-30 minutes sooner. The airline added that it does not fly through the airspaces of Iraq, Iran or Syria at this time. British Airways, owned by IAG, has suspended its flights to Tel Aviv until July 31. Iberia Express is IAG's low cost airline. It has cancelled all flights to Tel Aviv up until October 25. ITA AIRWAYS Italian Airlines announced that it will extend the suspension of Tel Aviv flight until August 31. This includes two flights scheduled for September 1. LUFTHANSA GROUP Lufthansa has suspended all flights from and to Tel Aviv, including the 31st of July and from and to Tehran, until the 31st of August. PEGASUS Turkish Airlines has announced that they have cancelled all flights from Turkey to Iran through the end of July. QATAR AIRWAYS Qatar Airways has announced that flights to Iran are temporarily suspended. RYANAIR Ryanair has cancelled all flights from and to Tel Aviv, and Amman, until October 25. UNITED AIRLINES The U.S. airline said it will resume its daily flights to Tel Aviv starting July 21. A second flight is expected to resume on July 22. WIZZ AIR The Hungarian carrier announced that its flights between Tel Aviv and Budapest will resume on August 8, 2008. Amman flights are suspended until 15 September. Reporting by Bureaus, compiled by Agnieszka Olesnka, Elviira Loma, and Tiago Brancao; Editing by Matt Scuffham Alison Williams, and Milla Nissi Prussak

• Urals oil differentials hold firm despite softer freight rates

  On Monday, the difference between Brent and Urals crudes increased as freight rates for Russian oils fell due to higher vessel availability. However, traders expect that this trend will change in light of new sanctions. Donald Trump, the U.S. president, threatened on Monday to impose sanctions on buyers of Russian goods if Russia does not reach a peace agreement within 50 days. This was a significant shift in policy prompted by frustrations with Moscow. Costs for shipping Urals oil to India from the Russian Baltic Sea port of Primorsk or Ust-Luga dropped to $5 to $5.3 million, per one-way shipment, using an Aframax oil tanker. This tanker can carry up to 730,000 barrels in average, in August. In June, it was between $5.5 and $5.7 millions. PLATTS WINDOW SOCAR tried to sell 650,000 barrels Azeri BTC from Ceyhan between July 24 and 28 at Brent plus $3.20 a barrel but failed to find a buyer. On Monday, there were no bids or offers made on Urals or CPC Blend. * Oil prices fell on Monday as investors considered new threats by Trump to impose sanctions on Russian oil buyers that could affect global supply. (Reporting and Editing by Matthew Lewis).