Algeria Voluntarily Cut Oil Production in August
Algeria decided in August to voluntarily cut its oil production by another 20,000 bpd, on top of a 48,000 bpd cut that began in May, the country’s energy ministry said. “As part of the joint efforts of the OPEC+ countries and in support of additional cuts envisaged by the Kingdom …
World Energy Report Confirms Rise in Iranian Oil Production
Data from the Statistical Review of World Energy confirmed that there was a significant increase in Iran’s crude oil production in 2022, despite the continued pressure of US sanctions on the Iranian oil sector. The annual report published by the Energy Institute (EI) showed that Iran’s oil production, including the …
IEA Forecasts Oil Production Growth in Azerbaijan in 2024-25
The International Energy Agency (IEA) predicts an increase in oil production in Azerbaijan in 2024-2025 to 570,000 barrels per day (bpd). The IEA told Interfax-Azerbaijan that according to the agency’s estimates, in 2023 oil production in the country will amount to 520,000 barrels per day. In 2024, production will increase …
“Trust” Bought Shares of Ruspetro Enterprises in Khanty-Mansi Autonomous Okrug
The bank announced a settlement agreement for 24 billion Bank of non-core assets “Trust” acquired the shares of the companies “Inga” and “Trans-Oil”. Both organizations were part of the Ruspetro group and became bankrupt in 2020. The press service of the bank announces the signing of a settlement agreement and …
BP Revised Volumes of Oil and Gas Production Cuts
British BP has decided to increase investment in oil and gas projects and, as a result, reduce oil and gas production less than in 2019 – by 25% instead of 40%, planned earlier, by 2030, the company says. “BP expects oil and gas production to be around 2.3 million barrels …
The US Department of Energy raised the forecast for oil production in the Russian Federation for 2023 to 9.9 million bpd
The US Department of Energy has adjusted the forecast for oil production in the Russian Federation for 2023, increasing it by 380 thousand b / d, to 9.87 million b / d, according to the monthly forecast of the Energy Information Administration (EIA). The forecast figure is 1.07 million b/d …
Oil Price Has Risen Sharply after Novak’s Words About the Reduction in Production in Russia
Commodity prices resumed growth after Deputy Prime Minister Alexander Novak said that Russia plans to cut oil production by 500 thousand barrels per day in March The cost of April futures for Brent crude on the London ICE Futures exchange rose by 2.78% and rose to $86.85 per barrel, according …
Russia Will Reduce Oil Production by 500 Thousand Barrels Per Day
According to Deputy Prime Minister Alexander Novak, Russia will carry out a reduction in production voluntarily, which will help “restore market relations.” At the same time, he confirmed the refusal of supplies to those who introduced the price ceiling for oil. Russia in March will reduce oil production by 500 …
Russian Oil Companies in February 2023 Increased Production by Almost 1% Compared to the Average Level in January
In the first week of February 2023, Russian oil companies increased crude oil production by 0.7% compared to the January average, to 1,491 t/d. Kommersant reported this on February 9, 2023. In February 2022, oil companies in Russia produced an average of 1.508 million tons per day. Thus, the volume …
Kazakhstan Plans to Boost Oil Production to 100 mln tonnes in 2024
Oil output will grow by roughly ten million tonnes from 2020 The government of Kazakhstan plans to scale up oil production from 90 mln tonnes in 2020 to 100 mln tonnes in 2024, Minister of National Economy Ruslan Dalenov said on Tuesday at the Cabinet meeting. “Oil production will grow …