Iran’s Daily Oil Production to Rise to 3.5 Million by End of Summer
Iran’s crude oil production will rise to 3.5 million barrels per day by September 22, 2023, the managing director of the National Iranian Oil Company (NIOC) said on Wednesday. Mohsen Hojastemer made the announcement while speaking to reporters on the occasion of National Journalists’ Day. Saying that Iran was producing …
Oil Production in Russia in June Fell by 100,000 Barrels Per Day
Oil production in Russia in June decreased by 100 thousand barrels per day compared to May, to 9.5 million barrels per day, follows from the data of the August report of OPEC. “The production of liquid hydrocarbons in Russia in June decreased by 100 thousand barrels per day compared to …
How to “Ennoble” Heavy Oil in the Reservoir
…And extract rare earth metals from it. New catalysts for the underground upgrading of extra-viscous oil have made it possible to increase production at the Tatneft well. With the help of Kazan Federal University technology, great success was also achieved at the Cuban Boca de Jaruco field. Its development is …
US Oil Production Up by 400,000 Barrels a Day
U.S. oil production rose by 400,000 bpd in the week ending August 4 to 12.6 million bpd, according to a weekly review by the Energy Information Administration of the country’s Department of Energy. On average, over the past four weeks, oil production in the United States amounted to 12.325 million …
Daily Oil Production in Kazakhstan Fell to the Lowest Level Since July 24
Daily oil production in Kazakhstan on Monday fell to 228,600 tons, the lowest since July 24, against 234,700 tons on Sunday. This is evidenced by the data of the Ministry of Energy of the country. Source
The US Department of Energy Raised the Forecast for Oil Production in the Country for 2023-2024
The US Department of Energy has raised its forecast for average oil production in the country for 2023-2024, follows from the data of the monthly short-term forecast of the energy information administration of the ministry (EIA). The US Department of Energy raised its forecast for average oil production for the …
Russia is Threatened With a Decline in Oil Production Due to the Refusal to Develop “Difficult” Fields
A pause in stimulating the development of hard-to-recover oil reserves (HRR) could lead to a failure of production in a few years. Now Russia is reducing production under the influence of external factors and under the terms of agreements with OPEC+. But the investment cycle in the industry is long …
LUKOIL-Komi Will be Abolished After Joining LUKOIL-Perm
LUKOIL decided to reorganize 2 of its production subsidiaries by merging LUKOIL-Komi with LUKOIL-Perm. The corresponding decision was made on July 24, 2023, according to the Fedresurs portal. As the message notes: after completion of the reorganization in the form of a merger, LUKOIL-Perm will continue to operate, LUKOIL-Komi will …
SOCAR Slightly Reduced Oil Production in the First Half of 2023, Increased Gas Production by 14.6%
SOCAR (State Oil Company of Azerbaijan) produced 3 million 851.465 thousand tons of oil in January-June 2023, the company’s press service told Interfax-Azerbaijan. According to SOCAR, in the first half of 2022, the company produced 3 million 864,839 thousand tons of oil. Thus, the decline in oil production in January-June …
Experts Called the Reason for the Growth in the Rate of Drilling of Oil Wells in Russia
The increase in the rate of drilling by Russian oil companies is due, among other things, to the depletion of existing wells – oil companies are forced to drill more in order to maintain production at the current level; the increase in horizontal drilling and the completion of work since …