Russia and Venezuela Want to Restore Daily Oil Production Levels
Russia and Venezuela want to restore the previous level of oil production per day, Foreign Minister of the Republic Ivan Gil Pinto said in an interview with RIA Novosti. “Joint oil production in Venezuela in recent years has reached 120-150 thousand barrels per day. Of course, the sanctions regime has …
Washington Allowed the Oil Service Company to Work with Caracas to Close Contracts
US authorities have allowed Halliburton, Schlumberger, Baker Hughes and Weatherford to carry out transactions in Venezuela until May 16, 2024 The US Treasury has extended until May 16, 2024 the licenses of four international oil service companies that must complete their work in Venezuela. This also applies to working with …
Kazakhstan Plans to Produce up to 94 Million Tons of Oil in 2024 – Head of the Ministry of Energy
Kazakhstan expects to produce up to 94 million tons of oil next year, said the Minister of Energy of Kazakhstan Almasadam Satkaliev. “From 90 to 94 million tons, in this range,” Satkaliev told reporters on the sidelines of parliament, answering a question about oil production plans for 2024. Previously, he …
Oil Production at ACG in 2023 was Carried Out from 136 Wells
Oil production from the Azeri-Chirag-Gunashli (ACG) block in January-September 2023 was carried out from 136 production wells, the press service of the bp company (operator for the development of the Azeri-Chirag-Gunashli, ACG) block of fields told Interfax-Azerbaijan. ). “In January-September 2023, six oil production, five water injection and one gas …
Oil Production in Azerbaijan in 2023 will Amount to 30.5 Million Tons
Oil production with condensate in Azerbaijan in 2023 compared to 2022 will decrease by 6.7% – to 30.5 million tons. This assessment is indicated in the conclusion of the Accounting Chamber on the draft state budget for 2024, which is available to the Interfax-Azerbaijan agency. In 2024, as the Chamber …
OMV will Begin Exploration Drilling on Libyan Assets in February 2024
Austrian OMV intends to begin exploratory drilling in Libya in February 2024. Company representatives announced this at a meeting at the headquarters of the National Oil Corporation of Libya (NOC) in Tripoli. The meeting was attended by the director of the exploration department of NOC, the deputy general director of …
Venezuela is Looking for Drillers
Caracas is actively working with oil service companies to increase oil production in Venezuela. After the easing of American sanctions, Venezuela began to revive its own oil production, starting with drilling new wells. International oilfield service companies with unused equipment in Venezuela include SLB, Evertson International and Nabors Industries. However, …
The US Department of Energy has Changed the Forecast for Oil Production in the Country for 2023-2024
The US Department of Energy slightly lowered the forecast for average oil production in the country for the current year and increased it for 2024, as follows from the monthly short-term forecast of the ministry’s Energy Information Administration (EIA). The Ministry of Energy lowered the forecast for oil production in …
The US Department of Energy Raised the Forecast for Oil and Liquid Hydrocarbons Production in the Russian Federation in 2023 by 100 Thousand b/d
The United States has adjusted the forecast for oil and liquid hydrocarbons (LPH) production in Russia for 2023, increasing it by 100 thousand bpd, to 10.73 million bpd, according to the monthly forecast of the US Department of Energy Information Administration (EIA). A month earlier, department analysts predicted this figure …
Lukoil Signed an Additional Agreement with Iraq to Increase Oil Production
Lukoil has entered into an additional agreement on the West Qurna 2 project in Iraq, which provides for the extension of the service contract for ten years, until 2045, and a gradual doubling of the field’s capacity with a production plateau of 800 thousand barrels per day, the company reported. …