Tag: production
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Malaysia’s Petronas signs production sharing agreements in 9 exploration sites
The Malaysian company Petronas, which specializes in oil exploration and production, is looking forward to strengthening its local investment portfolio. What drives it to enter into new partnerships from time to time to carry out exploratory activities, and then raise its production, and eventually revive its treasury. Malaysia aims to put its oil and gas…
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Launching a plan to develop the Libyan oil sector to increase production to two million barrels per day (video and photos)
The head of the Libyan Oil Corporation, Farhat bin Qadara, announced the start of developing the strategic plan for the oil and gas sector in the country. Today, Wednesday, the KPC, in cooperation with the American Kearney Company, launched the development of the strategic plan for the sector, which includes the KPC and its subsidiaries.…
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The Kremlin reveals the position of OPEC + on the decision to reduce Russian oil production
Today, Friday, February 10 (2023), Kremlin spokesman Dmitry Peskov revealed that Russia held consultations with several countries in the OPEC + coalition regarding the decision to reduce Russian oil production. This denies previous statements, issued today, Friday, February 10 (2023) – also – that Moscow decided to cut production without consulting with the coalition countries.…
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Fuel supplies in France stop again. Electricity production drops 4%
Fuel shipments were halted in France on the third day of a national strike against pension reform, reigniting fears of a supply shortage, as the strike at refineries continued for 48 hours. The French energy company, Total Energy, said that shipments of oil products from French sites were halted due to the strike today, Tuesday…
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A new escalation threatens to stop Libyan oil production
The Italian Eni deal threatens to return the Libyan oil sector to the square it has suffered from for years due to the closure of ports and fields in light of the lack of political consensus in the country. A state of confusion and skepticism has not stopped since the head of the National Oil…
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An expected jump in Iranian oil production from 750 wells
Iranian oil received a new impetus as part of government efforts to boost production, in order to reach the target of 5.7 million barrels per day. Iran’s state oil company has awarded contracts worth $500 million to local companies to revive low-production oil wells in the country, according to the Iranian news agency Mehr. This…
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Oil production in Syria awaits the return of a British company
The British Gulf Sands Company denounced the “illegal” production of oil in Syria from its fields subject to force majeure 6 years ago, stressing that it has a plan to return again to the country. The company owns a 50% stake in Block 26, as its interests go back to before the war in Syria,…
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Plans to increase oil production in Guyana to tap 25 billion barrels of reserves
US ExxonMobil continues to focus on boosting oil production in Guyana; The company is preparing to approve its fifth project, which is scheduled to start production in 2027 for a period of 20 years, according to estimates by the Government of Guyana. ExxonMobil’s proposed fifth development at the Oro oil field would pump about 250,000…
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Two agreements to share oil production at two promising sites in Uganda
Oil production projects in Uganda are in full swing, as part of the relentless efforts made by the government in the East African country. In order to enhance the productivity of the sector to keep pace with domestic demand, and to achieve a surplus for export. In light of these efforts, Kampala gave the green…
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The oil and gas sector in Algeria is awaiting the pumping of $40 billion in investments to increase production
The oil and gas sector in Algeria is expected to pump $40 billion over the next 5 years, as part of a strategic plan aimed at increasing production to secure growing domestic demand and increase exports. In this context, the Algerian Minister of Energy and Mines, Mohamed Arkab, said that his country is planning a…