Eni: Full Year 2017 and Fourth Quarter Results
Exploration & Production Hydrocarbon production at record level: – reached 1.92 million boe/d in December 2017, marking an all-time high for Eni; – produced an average of 1.89 million boe/d in the fourth quarter, the highest quarterly production in the last seven years (up by 1.9%); FY production averaged 1.82 …
Kazakhstan Overtakes Iraq as OPEC Pact’s Biggest Over-Producer
Kazakhstan has overtaken Iraq to become the biggest over-producer in the pact between OPEC and its allies to curb oil output. The Caspian Sea nation’s output has been rising over the past year as the giant Kashagan field ramps up production. That’s in spite of Kazakhstan’s pledge to pump 20,000 …
GlobalData: Russian Cuts In Concert with OPEC
”At the November Organization of the Petroleum Exporting Countries (OPEC) meeting in Vienna, Russia delivered many surprises. Not only did the country broker an agreement between rival Saudi Arabia and Iran, but Russia also committed itself to substantial production cuts. For almost a year, Russia signaled that it would only …
Oil Jumps Over 10 Percent as OPEC Finalizes Output Cut Deal
By Jessica Resnick-Ault | NEW YORK Oil soared more than 10 percent on Wednesday to over $50 a barrel and its highest in a month as some of the world’s largest producers agreed to curb production for the first time since 2008 in a bid to support prices. Crude prices rose nearly 5 percent …
OPEC: Russia Offering To Freeze Not Cut Production
Facing pressure from OPEC to make a significant output reduction, Russia reiterated its readiness to freeze oil production at current levels, arguing that the offer amounted to a cut compared with next year’s plans. Freeze means 2017 Russian output would be less than planned OPEC asked non-members to cut 500,000 …
OPEC and Russia: Agree to Freeze Production at January Levels
Oil prices slipped off session highs on Tuesday after four of the world’s largest producers agreed to freeze output at January levels if other major exporters joined the pact, dashing hopes among the price bulls for an outright cut to supply. Qatari energy minister Mohammad bin Saleh al-Sada told a …
Platts Survey: OPEC Pumps 31.08 Million Barrels of Crude Oil Per Day in October
Down 120,000 Barrels Per Day from September – Lowest Level Since May, Led by Production Declines in Saudi Arabia and Iraq Oil production from the Organization of the Petroleum Exporting Countries (OPEC) totaled 31.08 million barrels per day (b/d) in October, down 120,000 b/d from September, and the lowest level …
OPEC: Indonesia Officially Asks For Membership Reactivation
Indonesia has submitted an official request to the Organization of the Petroleum Exporting Countries to reactivate its full membership in the Organization. The request has been circulated to all OPEC Member Countries for their consideration and approval. Considering the feedback, the Indonesian Minister of Energy and Mineral Resources, His Excellency …
Fourth Meeting of the OPEC-Russia Energy Dialogue
The fourth High Level Meeting of the OPEC-Russia Energy Dialogue was held on 30 July 2015 in Moscow. The Meeting was chaired by the Minister of Energy of the Russian Federation, Alexander Novak, and the Secretary General of OPEC, Abdalla Salem El-Badri. The meeting was attended by senior executives of …
OPEC-Russian Energy Dialog: Underscores the Importance of Stable and Predictable Markets
The third high-level meeting of the OPEC-Russia Energy Dialogue took place in Vienna today. The meeting was chaired by HE Abdalla Salem El-Badri, OPEC Secretary General, and HE Alexander Novak, Minister of Energy of the Russian Federation. The meeting was also attended by a senior delegation from the Russian Federation …