Tag Archives: Asia

Moscow said last month it had discussed with Riyadh extending the deal but no specific decisions had been made ahead of a Nov. 30 producers’ meeting in Vienna.

The OPEC Joint Technical Committee was created to monitor the implementation of countries’ commitments to cut oil production.

Over the 8 months of the agreement in force. surplus of global oil reserves decreased by 168 mln barrels and now stocks exceed the five-year standard by only 170 mln barrels.

The region was retaken from Islamic State militants in August 2016. two months before the launch of an offensive on the city of Mosul itself.

The region was retaken from Islamic State militants in August 2016. two months before the launch of an offensive on the city of Mosul itself.

Given PCG’s strength in the region’s petrochemicals sector. Saudi Aramco is proud to be entering into a deeper. mutually beneficial partnership in PIC.

For the first quarter of 2017. according to OPEC figures. ADNOC pumped an average 2.935 million bpd and in the second quarter. it produced 2.91 million bpd of crude.

Chinese companies have moved into Venezuelan upstream activities as well. However. here the primary play has been to control oil export revenues.

In this context. the IPO of Aramco becomes even more essential for Prince Mohammed’s diversification plans.

The country is aiming to raise oil output to around 4 million bpd by the end of the year and 4.5 million bpd within five years from around 3.8 million bpd in recent months.