Tag: barrels
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A report reveals a decline in Russian oil production by 300,000 barrels per day
Participants in global markets seek to verify Moscow’s commitment to reducing Russian oil production to 9.5 million barrels per day, in the period from March 2023 until the end of the year, as part of a group of voluntary production cuts for several member states of the OPEC + alliance, with the aim of achieving…
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Equinor aims to increase its production outside Norway to 400,000 barrels of oil equivalent per day
The Norwegian company Equinor is diversifying its portfolio of oil and gas projects outside Norway as part of plans to increase production by 2030. The global leader in the oil and gas sector has made the final decision to invest in a new $9 billion project in Brazil, after years of consideration and appreciation. The…
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Agency: Iraqi oil exports will not exceed 3.3 million barrels per day in May
Iraqi oil exports in May 2023 are expected to remain close to last month’s levels, given the continued suspension of production in the Kurdistan Region of Iraq and exports via Turkey. Additional Iraqi oil export capacity from the southern export ports in the Persian Gulf is “limited,” a senior Iraqi oil official told S&P Global…
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Canadian oil prices rose after 320,000 barrels per day of production stopped
Canadian oil prices witnessed a significant increase, after the production of about 320 thousand barrels per day, or 3.7% of the country’s production, was halted due to the ongoing forest fires in Alberta 5 days ago. The fires also restricted natural gas processing operations to approximately 450,000 cubic feet per day, according to information seen…
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The Sultanate of Oman’s production of oil and condensate exceeds one million barrels per day in February
The Sultanate of Oman’s production of crude oil and condensate exceeded the barrier of one million barrels per day, during last February. Recent data showed that the Sultanate of Oman’s production of crude oil and condensate, during the month of February, amounted to 29.7 million barrels, at a rate of 1.06 million barrels per day.…
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25 million barrels of Nigerian oil are looking for buyers…and these are the most prominent alternatives
Nigerian oil sales fell in March, due to strikes at French refineries, as well as seasonal maintenance elsewhere in Europe. Between 20 and 25 shipments of Nigerian oil for loading in April are still looking for buyers, and each shipment amounts to about 1 million barrels of crude oil, according to information seen by the…
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Oil storage in Fujairah records record levels with the flow of Russian barrels
The demand for oil storage in Fujairah increased, in conjunction with the change in the movement of crude trade after Western sanctions against Moscow, which diverted the path of Russian barrels towards the Middle East and Asia. It is expected that the demand for oil storage and transit volumes in the port of Fujairah –…
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Oil production in Nigeria is threatened with a loss of 4 million barrels
Oil production in Nigeria is set to drop dramatically in March 2023 and beyond, due to the recent bombings of a major pipeline in the Niger Delta region. A major export pipeline exploded in the oil-rich Niger Delta region, Thursday evening, March 2, 2023, killing 12 people and injuring others, according to the specialized energy…
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Al-Zour refinery in Kuwait raises its capacity to 410,000 barrels per day
Today, Tuesday, March 7 (2023), Kuwait started operating the second phase of the Al-Zour refinery, raising its production capacity to 410,000 barrels. The CEO of the Kuwait Integrated Petroleum Industries Company (KIPIC), Walid Al-Badr, said that the refinery is one of the most important strategic national projects for the State of Kuwait. Kuwait is counting…
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The Iranian Yadavaran field is close to a Chinese deal… 30 billion barrels of oil reserves
The Yadavaran field is preparing to revive the Iranian oil sector with more production, amid ongoing negotiations with the Chinese company Sinopec, the developer of the first phase of the project 15 years ago. The Iranian oil company entered into negotiations with its Chinese counterpart, Sinopec, to revive the agreement to develop the second phase…