USA Expects OPEC to Increase Oil Production Next Year
The US Department of Energy expects OPEC oil production to fall by 300 thousand barrels per day in 2023, however, if the current production cut in OPEC + ends, in 2024 the organization will be able to increase liquid hydrocarbon production by 600 thousand barrels per day, follows from the …
Saudi Aramco 1Q 2023 Profit Down 19% To $31.9 Billion
Saudi Aramco’s average hydrocarbon production was 12.8 mmboe/d (-1% YoY). Net profit of Saudi Aramco in the 1st quarter of 2023 amounted to 31.9 billion US dollars against 39.5 billion for the same period in 2022, down 19% (YoY). The information follows from the company’s reporting. In the reporting period, …
The United States Slightly Lowered the Forecast of Oil Production in the Country in 2023 – by 10 Thousand b/d, to 12.53 Million b/d
The US Department of Energy has lowered the forecast for oil production in the country (excluding other liquid hydrocarbons) for 2023 from 12.54 million b / d to 12.53 million b / d, according to the monthly forecast of the Energy Information Administration (EIA) of the Department of Energy. At …
BP Increased Gas Production From the Shah Deniz Field by 17% In the First Quarter
In the first quarter of 2023, BP-Azerbaijan produced 7 billion cubic meters of gas from the Shah Deniz field in the Azerbaijani sector of the Caspian Sea, which is 16.7% more than in January-March 2022, Interfax-Azerbaijan was told in a press release. company service. The Shah Deniz field also produced …
Russia Reaffirms Commitment to Voluntary Cuts in Oil Production
Russia reaffirms its full commitment to and implementation of its voluntary cut in oil production, Russian Deputy Prime Minister Alexander Novak told reporters. “Given the unfounded speculation in the press regarding oil production levels, Russia reaffirms its full commitment to and implementation of voluntary oil production cut levels,” he said. …
NOVATEK is Implementing an Oil Program at the Harbeyskoye Field
NOVATEK-Tarkosaleneftegaz, a subsidiary of NOVATEK, is building an oil treatment unit (OTF) at the Harbeyskoye oil and gas condensate field (NGKM) in the Yamalo-Nenets Autonomous Okrug (YaNAO). NOVATEK announced this on May 3, 2023 in its Telegram channel. The OTU is being built on a neighboring site with an operating …
LUKOIL Produced 9 Million Tons of Oil at the A. Usoltsev Field
Cumulative oil production of LLC LUKOIL-Western Siberia (100% subsidiary of PJSC LUKOIL) at the field im. A. Usoltseva in the Khanty-Mansiysk Autonomous Okrug exceeded 9 million tons. There are 44 well pads at the field. The operating fund consists of 864 wells, 29 of them have been drilled since the …
US Oil Production Rose by 100,000 Barrels a Day in a Week
US oil production for the week ended April 28 increased by 100,000 barrels per day to 12.3 million barrels per day, according to a weekly review by the Energy Information Administration of the country’s Energy Department. On average, over the past four weeks, US oil production amounted to 12.275 million …
Kommersant Reported a 10% Decrease in Gas Production in the First Quarter
In the first quarter of this year, gas production in Russia fell by 10% compared to the same period last year, to 180 billion cubic meters. m. This was reported by the Kommersant newspaper, citing sources familiar with the statistics. In March, production also decreased by about 10% and amounted …
Erdogan: Oilfield Found in Turkey, Which Will Bring the Country 100,000 Barrels Per Day
A new oil field has been discovered in Turkey, from which about 100,000 barrels per day can be produced, Turkish President Recep Tayyip Erdogan said on Tuesday. “We found oil in the Gabar region at a depth of 2.6 km. The production capacity of the field is 100,000 barrels per …