Russia might cut oil production
Lukoil Vice President Leonid Fedun believes that Russia needs to reduce oil production by a third. According to him, oil companies bear the costs of…
OPEC+ countries increase oil output in October
OPEC+ countries participating in the oil production cut agreement in October 2021 increased their output by 490,000 barrels per day, to 36.82 million barrels, mainly at the expense of…
China increases production of crude oil
China’s crude oil production rose 3.2% year on year to 16.61 million tons in September, according to the National Bureau of Statistics (NBS), Report informs referring to Xinhua. The growth rate…
OPEC+ refuses to comply with US request to increase oil production
The countries of the OPEC+ group decided not to increase oil production beyond the previously planned levels, despite request from the administration of US President…
OPEC announces forecast on Azerbaijan’s oil production in 2022
Azerbaijan’s daily production of oil and another liquid hydrocarbon will make up 750,000 barrels this year, down 20,000 barrels from the previous forecast, Report informs, citing OPEC….
OPEC raises forecast on Azerbaijan’s oil production
The Organization of the Petroleum Exporting Countries (OPEC) has increased its forecast for the average daily production of oil and other liquid hydrocarbons in Azerbaijan…
IMF: SGC pipeline to boost exports of natural gas, mitigating decline in oil production
Risks to the outlook of the Azerbaijani economy are broadly balanced, although uncertainty about the future of the pandemic remains high, Report informs referring to a report…
EIA downgrades forecast for Azerbaijan’s oil production in Q2
The US Energy Information Agency (EIA) has cut its forecast on Azerbaijan’s daily oil production for the second quarter, Report informs, citing “Short-Term Energy Outlook – June…
Oil production in Kazakhstan in January-April decreased by 11%
In January-April 2021, Kazakhstan reduced oil production by 11% compared to the same period in 2020 – to 23.959 million tons, reported the Bureau of…
EIA changes Azerbaijan’s Q2 oil production volume forecast
The US Energy Information Administration (EIA) has changed its forecast for Azerbaijan’s average daily oil production for the second quarter of 2021, Report informs, referring to Short-Term…
Oil production in Libya falls by 1M bpd
Oil production in Libya over the past few days has fallen by almost 1 million barrels per day from 1.3 million barrels per day, according to the Libyan National…
Volumes of oil and condensate exports from ACG and Shah Deniz fields revealed
As of March 1, a total of 558.7 million tons of oil (including condensate) have been produced at the Azeri-Chirag-Guneshli (ACG) block of fields and…
Egypt Boasts Record Crude Oil Production
Egypt has recently announced its crude oil production has exceeded 65,000 barrels per day (bpd) for the first time since the late 1950s, Al-Monitor reports, quoting…
ConocoPhillips To Restart Part Of Curtailed Oil Production
ConocoPhillips expects to start bringing back in July part of the oil production it had curtailed in the second quarter in response to the low…
Oil Jumps After API Reports Largest Crude Draw This Year
The American Petroleum Institute (API) estimated on Tuesday a major draw in crude oil inventories of 8.156 million barrels for the week ending June 26….
Azerbaijan to Reduce Oil Production by 20,000 Barrels per Day
Azerbaijan will reduce oil production by 20,000 barrels per day relative to the figure for October 2018 – to 763,000 barrels, the Ministry of Energy…
Samruk-Kazyna netted KZT 825.3bn in Jan-Sep 2018
Following the first 9 months of 2018, Samruk-Kazyna Group of Companies has beaten the planned financial indicators. This was announced at the meeting of of…
SOCAR unveils data on drilling, production and export for Q3
The State Oil Company of Azerbaijan managed to stabilize oil production and dramatically increase natural gas extraction through raising the volume of drilling works in…
Lukoil 1H2018 production up
In the first half of 2018 LUKOIL Group’s hydrocarbon production excluding West Qurna-2 project was 2,287 thousand boe per day, which is 3.2% higher year-on-year….
Rosneft reports financial results for 1H2018
Consolidated IFRS financial results for 2Q 2018 and 1H 2018: 2Q 2018 1Q 2018 Change, % 1H 2018 1H 2017 Change, % Financial results…
Kazakhstan expects growth of oil production in Kashagan by 2024
The annual volume of oil production in Kashagan by 2024 is planned to increase to 13-16 million tons, Kazakhstan’s energy minister Kanat Bozumbayev said. “In…
KazMunayGas reports Q1 financial and operating results
SC National Company KazMunayGas, Kazakhstan’s vertically integrated oil and gas company, announced its IFRS financial results and operating highlights for the three-month period ended 31…
LUKOIL reports 1Q2018 financial results under IFRS
PJSC “LUKOIL” today released its condensed interim consolidated financial statements for the three-month period ended 31 March 2018 prepared in accordance with International Financial Reporting…
LUKOIL reports operating data for the first quarter
The LUKOIL Group’s average daily hydrocarbon production excluding West Qurna-2 project in the first quarter of 2018 was 2,286 thousand boe per day, which was…
Russia’s Rosneft Q1 profit jumps as oil market starts to rebalance
Russia’s Rosneft, the world’s biggest listed oil company by output, saw its net profit rise seven-fold in the first quarter, lifted by higher oil prices…
Oil production in Azerbaijan grows, gas production decreases
Oil production in Azerbaijan in Q1 2018 amounted to 9 million 662.4 thousand tons, which is 2.2% higher than the index for the same period…
SOCAR published drilling, production and export figures for the first quarter of 2018
The Azerbaijan oil and gas production increased by 2.4% and 5.2% respectively in the first three months of the year. Positive dynamics in SOCAR’s production…
Azerbaijan produced 794,000 barrels/day oil in March
Ministry of Energy has submitted reports on daily oil production in Azerbaijan during March 2018, to the Joint Technical Commission of Joint Monitoring Committee of OPEC, in…
Azerbaijan reduced oil production by 1% in February
Azerbaijan presented to the joint technical commission of the OPEC monitoring committee data on daily oil production in the country in February 2018. According to…
Kazakhstan increased oil production by 9% in January-February
Kazakhstan produced 12.464 million tons of oil in January-February of 2018, which is 8.9% more compared to the same period last year, the statistical committee…
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