Algerian oil production in April averaged some 1.2 million b/d, in line with the country's obligations under OPEC's current production ceiling, a senior official at state-owned Sonatrach said Wednesday. Speaking on the sidelines of an ...
Tags: Oil Production, OPEC
With US refineries expanding their capacity to process more domestic light oil in the coming years, the US Energy Information Administration on Tuesday said it expects refinery crude inputs to reach 15.52 million b/d this year and 15.61 ...
Tags: US Refinery, Domestic Production, light oil
The front-month Brent-WTI spread settled at a fresh five-month low of $6.48/barrel Friday, as steady drawdowns in crude stocks at the Cushing, Oklahoma, delivery hub have lent upside support to WTI, while Brent remains subdued. NYMEX ...
Tags: crude, Brent futures
Iraq aims to boost its oil exports by nearly 26% to 3.4 million b/d in 2014, a senior official said Wednesday. "Exports reached more than 2.7 million b/d this month, and the rate [that] is planned for 2014, including exports from the ...
NYMEX February crude settled $1.48 lower at $93.96/barrel Friday, as a large draw in stockpiles was overshadowed by a sharp drop off in product demand and rising distillate stocks. ICE February Brent settled 89 cents lower at $106.89/b. ...
Tags: stockpiles, crude, Mineral
An average 2014 oil price of $81/b for Saudi export crude, or about $85/b for Brent, is likely to be needed for Saudi Arabia to balance state revenues with government spending in the coming year as oil production declines to 9.3 million ...
Tags: Balance Budget, Oil Output
Platts – Oil production from the Organization of the Petroleum Exporting Countries (OPEC) fell to 29.7 million barrels per day (b/d) in November, the lowest volume since mid-2011 when the uprising in Libya significantly reduced the ...
Tags: Platts, OPEC, oil production, Platts survey of OPEC
Mott MacDonald oil & gas was awarded a contract for the provision of technical support services by CPE (China Petroleum Engineering) for Phase 2 and 3 of Halfaya oilfield in Iraq. The field is located near Amarah in south east Iraq and is ...
Tags: Oil and Gas News, CPE, Mott Macdonald, Technical Support
OPEC crude production continued its downward trend in November as a new series of output disruptions took hold in Libya and lower volumes from other member countries outpaced an increase of 192,000 b/d in Iraq, monthly estimates from the ...
Tags: Crude Output, Metallurgy
OPEC should realize the reality that higher oil prices are unnatural and the result of geopolitical issues including imposing sanctions on Iran, a situation that will not be helpful to the organization. Former Iran’s governor for ...
The international energy agency predicts that in 2016 the United States will become the largest oil producer before Russia and Saudi Arabia. The United States will basically realize energy self-sufficient and reduce its dependence on OPEC ...
Tags: Oil Producer, Oil, Metallurgy, Mineral, Energy
OPEC should realize the reality that higher oil prices are unnatural and the result of geopolitical issues including imposing sanctions on Iran, a situation that will not be helpful to the organization. Former Iran’s governor for ...
Tags: OPEC, benefit, high price
The global oil market is currently well supplied but growing demand pressures and ongoing disruptions in some OPEC producing countries could soon reverse a recent spate of softer oil prices, the International Energy Agency said Thursday. ...
Tags: Oil Prices, oil market
Malaysia-based international offshore oilfield services provider, Bumi Armada Berhad announced today that EnQuest Heather Limited together with EnQuest ENS Limited, First Oil and Gas Limited, Nautical Petroleum Limited and Nautical ...
Crude oil production from the Organization of the Petroleum Exporting Countries (OPEC) remained broadly unchanged at 29.93 million barrels per day (b/d) in October following production of 29.91 million b/d in September, a just-released ...