Former CIA official David Lash pleaded guilty to telecommunications fraud, admitting he used his position to fabricate classified projects for personal profit and caused about $194m in losses to the U.S. federal government. He agreed to forfeiture of proceeds including 298 gold bars, two BMWs, 35 luxury watches and four Florida residences. Sentencing is scheduled for January 28 next year.

Reserve Bank of India policy rate set at 5.50% on Oct. 7; market expected 5.50%; prior 5.25%.

China National Petroleum Corp (CNPC) said the Bayan oilfield in the Hetao Basin, Inner Mongolia, reached 5,080 t/d of crude — the first time above 5,000 t/d and a record high — marking a step-up in reserves and output in CNPC’s Huabei oilfield new area. CNPC engineer Liu Jing said technology-led exploration, including a late-stage rapid-subsidence basin theory and breakthroughs in deep continental clastic reservoirs, delivered western Inner Mongolia’s first million-tonne-per-year oilfield. Huabei’s crude output has held at the c.5 mln tonnes level for two consecutive years and remained stable; through end-September Huabei produced 3.86 mln tonnes YTD, with Bayan up 14% YoY and accounting for nearly one-third of Huabei’s daily output. CNPC said the reserve additions and output gains provide replicable experience for boosting production in mature onshore oilfield new areas.