Russia's Lukoil oil company Wednesday announced the finding of an oil reserve off the coast of Tabasco in Mexico believed to be worth 250 million barrels of crude. ”The reservoir was discovered when drilling the Yoti West-1EXP well from the semi-submersible platform Valaris 8505,” according to a company statement.
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, Lukoil's head said on Wednesday.