Tag Archives: Production

OPEC and its allies agreed to reduce oil production by 1.2 million barrels per day (bpd) for the first six months of 2019.

Gas production operations at the field are to continue at the facility for more than 100 years – until 2128.

Energy Minister Alexander Novak said it would take Russia ``months`` to get down to its requested level.

Libya has been given a pass due to its chronic production outages.

The measure. which was spearheaded by Russia. will come into effect on January 1.

Oil prices jumped just over four percent as news of the deal broke.

OPEC resumes discussions in Vienna on Friday before heading into a meeting with non-OPEC oil producers led by Russia later in the day.

OPEC tentatively agreed to an oil output cut on Thursday.

The 50 km2 energy city will be constructed at between Dammam and Al-Hasa in the heart of the Saudi energy business.

Last month. Iraq’s oil exports dropped to their lowest level in seven months due to bad weather at its southern ports.