Tag: production
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Oil and gas in America… disappointment in exploration and production activity (article)
Read in this article The US activity is far from the expectations announced by many specialists Great discipline of oilfield services capital leads to higher costs The federal government shows no signs of cutting spending to ease inflationary pressures The availability of labor affects the ability of employers to expand the activity All uncertain economic…
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A plan to increase oil production in the Congo before reviewing the OPEC+ baselines
Oil production in the Congo is expected to increase significantly by next year (2024), before a review of baselines for OPEC+ countries in November, which may see an increase in quotas. It was agreed to cut the alliance’s total production by 1.4 million barrels per day in 2024, after hours of tense negotiations at the…
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OPEC + production increases marginally in June .. and Russia cuts 440 thousand barrels per day (survey)
OPEC + oil production rose marginally last June, despite the decline in Russian production as part of Moscow’s pledges to cut production. A recent survey showed that the OPEC + alliance kept its crude oil production almost unchanged in June, amid anticipation of production levels in July, with the implementation of large additional cuts by…
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Oil and gas production in Norway increases thanks to 7 discoveries during 2023
Oil and gas production in Norway has increased significantly since the beginning of this year (2023); This enhances the country’s role as a safe and stable supplier of energy to Europe, in light of the old continent’s endeavor to secure supplies away from Russia. After Russia’s invasion of Ukraine, Norway became Europe’s largest natural gas…
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SOCAR of Azerbaijan: Oil prices are currently suitable for planning.. and this is our actual production volume
Read in this article Prices are currently significantly lower than the peak in 2022 Some members of the OPEC+ coalition agreement extended voluntary production cuts until the end of 2024 Saudi Arabia proposed extending the latest cut of 1 million barrels per day beyond July The Caspian Pipeline Alliance accounts for 80% of Kazakhstan’s exports…
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Energy sources: Saudi Arabia extends oil production cuts by one million barrels per day
Sources revealed that the Kingdom of Saudi Arabia is ready to announce, within a few days, the extension of the voluntary oil production cut by one million barrels per day, in the month of August (2023). And the sources indicated, in exclusive statements to the specialized energy platform, that the step of extending the production…
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Oil production from plastic is at the top of South Korea’s circular economy strategy
The South Korean government has put oil production from plastic at the top of a strategic plan to implement a circular economy that benefits the country, reduces the volume of its imports and contributes to reducing emissions. Today, Wednesday, June 21 (2023), the government said that South Korea will push for a “circular economy” for…
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Baleen field in Ivory Coast wins an important contract paving the way for the start of production
The Baleen field in Ivory Coast is steadily progressing towards the start of oil and gas production, ensuring the country’s energy supplies and enhancing the potential of the African continent. Baker Hughes Energy Technology announced that it had obtained a contract from the Italian company Eni and its partner, the National Oil Operations Company in…
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10 tenders to support oil production in Kuwait to 3 million barrels per day
Aiming to boost Kuwait’s oil production to 3 million barrels per day by 2025, up from 2.8 million barrels per day now, the Gulf state’s oil sector is preparing bids worth more than $700 million. Today, Sunday, June 18 (2023), the CEO of the Kuwait Oil Company, Ahmed Jaber Al-Aidan, announced his country’s commitment to…
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OPEC + production declines in May .. and Russia cuts 410 thousand barrels per day (survey)
OPEC + oil production declined, during May (2023), by about 670 thousand barrels per day on a monthly basis, supported by the voluntary cuts announced by Saudi Arabia, Russia and a number of coalition countries last April, which raised production cuts to 3.6 million barrels per day. A recent survey showed that OPEC and its…
