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 …
Novak: Voluntary Decision to Reduce Oil Production will be Reviewed Monthly
The voluntary cut in oil exports from Russia by 300,000 barrels per day will be extended until the end of December 2023. This was stated by Deputy Prime Minister Alexander Novak. Thus, our country minimizes the risks of lower oil prices. According to the Deputy Prime Minister, the additional voluntary …
Samara Subsidiary of Rosneft Replenished Reserves by 246%
Samaraneftegaz discovered 20 new hydrocarbon deposits in the fields under development in 2022. The rate of production replenishment by the growth of oil reserves reached 246%. The Devon news agency learned about this from a message from the press service of Rosneft Oil Company. Last year, Samaraneftegaz drilled about 200,000 …
Saudi Arabia Extends Oil Production Cut by 1 Million b/d Until the End of the Year
Prior to this, the voluntary reduction was calculated first for July, and then extended to August and September Saudi Arabia has decided to extend the voluntary cut in oil production by 1 million barrels per day (b / d) until the end of 2023. This was reported by the Saudi …
Brazilian Petrobras Announces New Upstream Policy
Brazil’s state oil company Petrobras said Monday it has decided to suspend the sale of some key assets. The oil giant said it would no longer sell the Uruk and Bahia Terra clusters, as well as the Manati oil field and its subsidiary Petrobras Operaciones in Argentina. The asset sale …
Cumulative Oil Production of Samaraneftegaz Exceeded 1.3 Billion Tons
Samaraneftegaz (part of the Rosneft oil and gas production complex) has produced 1.3 billion tons of oil since the start of production in 1936. High production performance was achieved through the creation of a developed infrastructure for oil and gas production, the use of modern technologies, and the development of …
New Records. “Belorusneft” Will Increase about 2.3 Million Tons of Recoverable Oil Reserves by the End of the Year
Belorusneft intends to increase approximately 2.3 million tons of recoverable oil reserves by the end of 2023. These forecasts were shared with journalists by the Deputy General Director of Belorusneft for Geology Petr Povzhik on the eve of the Day of Oil, Gas and Fuel Industry Workers, BelTA has learned. …