Tag Archives: Oil Production

The last time Moscow surpassed Riyadh in crude production was in December 2016 when Russia extracted 10.49 million against 10.465 by Saudi Arabia.

China may indeed join the ranks of countries banning fossil fuel vehicles.

There are still not enough signs of investment beginning to return. and that raises the risk of tightening of the market in the next five years and a risk to the stability of oil prices.

Azar holds 2.5 billion barrels of crude oil and is one of the joint fields with Iraq.

NIOC plans to employ enhanced oil recovery methods to boost the extraction rate in fields by 35%.

Iran has been producing around 3.8 million bpd of oil in recent months.

Oil exports are expected to reach up to 2.5 million bpd within five years.

In the first half of 2017. the ACG field production averaged 585000 bpd from the six platforms.

The cut deal is very likely to be extended through to mid-2018 and even maybe end-2018.

Under the agreement OPEC is curbing its collective oil production by about 1.2 million bpd.