Norway Cut Gas Production by 10% in August, Worse Than Forecast
Norway in August reduced natural gas production by 9.8% year on year, to 311.3 million cubic meters per day from 345 million cubic meters per day a year earlier, according to preliminary data from the Norwegian Petroleum Directorate (NPD). The figure turned out to be worse than the NPD forecast, …
Saudi Arabia in July Reduced Oil Production by 9.5%, Exports by 11.6%
In July, Saudi Arabia reduced oil production compared to the previous month by 9.5%, and exports by 11.6%, according to data on the website of the Joint Organization Data Initiative (JODI). Export volumes amounted to 6.012 million barrels per day (b/d), compared with 6.804 million b/d in June. However, it …
The Government of the Russian Federation and Gazprom Neft Signed an Agreement on the Joint Development of Russian Equipment for Oil Production
The Russian government and Gazprom Neft will join forces in the development of domestic equipment for drilling and hydrocarbon production on land. The corresponding agreement of intent was concluded within the framework of the TNF industrial and energy forum and is aimed at ensuring the technological sovereignty of the Russian …
Russia Kept Oil Production in August at July Levels
It amounted to 9.48 million b/d Russia maintained oil production in August 2023 at the level of the previous month – 9.48 million barrels per day (b/d), according to a report by the International Energy Agency (IEA). At the same time, the Russian Federation’s revenues from oil exports, according to …
Plans for Oil Production Volumes in Kazakhstan This Year May Not be Fulfilled
Vice Minister of Energy of the Republic of Kazakhstan Askhat Khasenov noted that this year oil production volumes in Kazakhstan may decrease slightly, a Kazinform correspondent reports. According to him, even if the target of 90 million tons is not fulfilled, about 89 million tons of oil can be produced …
Rising Oil Production in September will Pose a Dilemma for Oil Workers
In September, oil workers will be forced to choose: continue to reduce oil exports or reduce production. Since the beginning of September, Russia has been increasing oil exports by sea. According to the Kommersant newspaper, in the first days of this month, sea exports amounted to 3.3 million bpd. These …
The US Department of Energy Predicts that Oil Production in Russia will Decrease in 2023
The US Department of Energy predicts that oil production in Russia in 2023 will decrease by an average of 300 thousand barrels per day, and will not change in 2024, follows from the monthly short-term forecast of the Energy Information Administration (EIA) of the department. “We expect oil production in …
Azerbaijan Lagged Behind the OPEC+ Quota by 184 Thousand b/d in August
Oil production in Azerbaijan in August 2023 amounted to 500 thousand bpd. This is stated in the Platts review conducted by S&P Global Commodity Insights, which is available to the Interfax-Azerbaijan agency. As of August, Azerbaijan’s oil production quota under the OPEC+ deal was 684 thousand bpd. Thus, according to …
Kazakhstan in August Lagged Behind the OPEC+ Quota by 100 Thousand b/d
Oil production in Kazakhstan in August 2023 amounted to 1.45 million bpd, according to a review by S&P Global Commodity Insights, citing Platts data. As of August, Kazakhstan’s oil production quota under the OPEC+ deal was 1.55 million bpd. Thus, according to S&P Global Commodity Insights, Kazakhstan in August lagged …
Production Potential of Kashagan Can Reach 75 Million Tons of Oil per Year – Prime Minister of the Republic of Kazakhstan
Prime Minister of Kazakhstan Alikhan Smailov spoke at a solemn event in honor of the 30th anniversary of the start of the development of the Kazakh shelf of the Caspian Sea with the participation of veterans of the oil and gas industry of the republic, Kazinform reports with reference to …