Tag: production
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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…
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OPEC+ oil production rises by 140,000 barrels per day in December (survey)
The production of the OPEC + coalition of crude oil increased by 140 thousand barrels per day in December of the past year (2022), to record 42.71 million barrels per day, with increased production from Saudi Arabia and Nigeria in particular. The 13 members of the Organization of the Petroleum Exporting Countries pumped about 28.98…
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China’s Sinooc reveals production and capital spending plans for 2023
The Chinese company Sinooc announced its strategy for 2023 on Wednesday, January 11 (2023), through which it aims to raise the goal of oil and gas production and capital spending, amid expectations that 9 new projects will start operating during the current year. The company said total capital expenditure for the current year will range…
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OPEC President calls for “caution” before adjusting oil production quotas
The head of the OPEC Conference, Gabriel Mbaga Obiang Lima, called for caution before making any change to the production quotas of the OPEC+ alliance. Obiang Lima – who chairs the 2023 OPEC conference – confirmed that it would be “wise” for the OPEC + alliance to wait until there is more clarity about the…
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Oil and gas production in Norway may rise to record levels in 2023
Oil and gas production in Norway is expected to rise to record levels in 2023, serving Europe’s aspirations to rely on the country to compensate for the lack of Russian supplies. And the Norwegian Oil Directorate revealed – today, Monday, January 9 (2023) – that Norwegian oil production is expected to increase by 6.9% this…
