Oil production

Crude Oil

Sudan, South Sudan Reach Deal to Ramp up Oil Production to 300,000 BPD

South Sudan and Sudan have reached a deal to increase oil production from the current 170,000 barrels per day to 300,000 BPD within the next three years from 20…

Crude Oil

Iran Signs 8 more Oil Projects as Part of plan to Boost Output by 355,000 b/d

The National Iranian Oil Co. on Jan. 11 signed eight more oil projects as part of a $6.2 billion national program started in January 2019 to boost oil productio…

Crude Oil

OPEC Crude Output Cuts Should Help U.S. Shale Profits in 2021

U.S. crude oil production has fallen 2 million barrels per day in the last year as low prices and demand forced shale producers to cut their losses

Crude Oil

Petrobras Sets Oil Production Record in 2020

Robust Chinese demand for pre-salt crude buoyed Brazil' state-controlled Petobras in 2020, helping spur record output of 2.28mn b/d of oil.

Crude Oil

IRAQ DATA: Dec Oil Production up 4.7%, Breaching OPEC+ Quota

OPEC's second-largest producer had a 3.804 million b/d quota for December under the OPEC+ deal.

Oil & Gas Trade

OPEC+ Allows Kazakhstan to Increase Oil Production in February and March

OPEC+ countries reached agreement on the terms of the deal for February and March.

Crude Oil

Russia: Annual Oil Production at Lowest Level Since 2011

Russia’s oil production declined last year for the first time since 2008 and reached its lowest level since 2011 following a global deal to cut output and low …

Crude Oil

OPEC+ Meeting Ends With Major Surprise Cut From Saudi Arabia

After another round of drama and a stalling of the talks on Monday, the Tuesday extension of the OPEC+ meeting concluded at long last with a solution upon which…

Crude Oil

Cambodia Prepares To Produce Its First Oil

As Asian oil demand looks set to increase over the next decade, Cambodia is taking advantage of the opportunity with its first crude oil production.

Oil & Gas Trade

New Year OPEC+ Meeting to Decide Oil Production Levels

The OPEC+ ministerial meeting comes after oil consumption tanked in 2020 due to the Covid-19 pandemic and a price war between Saudi Arabia and Russia.

Crude Oil

Cambodia Starts First Crude Oil Production After Years of Delays

Cambodia has begun extracting its first crude oil from fields in the Gulf of Thailand, in a venture between Singapore’s KrisEnergy Ltd and the government, both…

Crude Oil

Novak Says Russia Backs OPEC+ 500,000 bpd Oil Output Hike from February

Russia expects to support an increase in oil production by the group, known as OPEC+, of another 500,000 barrels per day from February at next month’s summit o…

Crude Oil

India's Crude Oil Production Slips 5 pc in November

Crude oil production in November at 2.48 million tonnes was lower than 2.61 million tonnes produced in the same month a year back

Crude Oil

ONGC Opens Eighth Hydrocarbon Producing Basin of India

State-owned Oil and Natural Gas Corporation on Sunday opened India's eighth hydrocarbon producing basin when it started oil flow from a well in the Bengal basin…

Crude Oil

OPEC President: OPEC+ Shouldn’t Hurry To Ease Oil Output Cuts

The OPEC+ group of producers must continue to calibrate the easing of its collective oil production cuts to the still fragile global oil demand in the pandemic.