WorldOil Caspian Sea breakthrough treaty set to boost oil, pipeline plans Five Caspian Sea states reached a breakthrough agreement on sovereign rights to the sea, paving the way for new oil and gas extraction -- and pipelines -- after more than two decades of disputes. New products and services Plenty-brand screw and vane pumps from SPX Flow are engineered to pump heavy viscous fluids, and are ideal for forced lubrication of rotating machinery and fuel transfer processes. Yamal LNG begins gas exports from second LNG train Total announces that the first shipment of Liquefied Natural Gas (LNG) from the second train of the Yamal LNG project in Northern Russia is ready to leave Sabetta. U.S. sanctions may put Russian oil production at risk The new U.S. sanctions placed on Russia may put the country’s longer-term crude production potential at risk. Rosneft sets cash-flow record as Russian oil hits sweet spot Rosneft PJSC posted record cash flow in the second quarter as Russian oil companies hit a sweet spot of rising crude prices and a weakening ruble. Lukoil installs wellhead platform substructure at Vladimir Filanovsky field Lukoil completed transportation and started installation of the substructure for the wellhead platform (mini offshore ice-resistant fixed platform) at Vladimir Filanovsky field, in the Caspian Sea. Novatek spuds first well at North-Obskiy license area, in Ob Bay PAO NOVATEK announced that its subsidiary OOO Arctic LNG 3 commenced drilling of the first well at the North-Obskiy license area, in the shallow waters of the Ob Bay. The initial well is drilled using a jackup floating drilling rig, Amazon, leased from Gazprom flot. Lukoil takes FID on Rakushechnoye project, in the Caspian Sea Lukoil took the final investment decision on the Rakushechnoye field development project in the Caspian Sea. Trump says U.S. will compete with Russia for European gas market U.S. President Donald Trump eased his tone about a Russian natural gas pipeline to Germany after a one-on-one meeting with President Vladimir Putin, shifting from the harsh criticism he’d levied in Europe last week. Iran touts Russia's plan to invest in its oil with sanctions looming Iran said Russia is ready to invest as much as $50 billion in its oil industry even as Western majors are pulling out of deals with the republic amid the threat of U.S. sanctions.