Tag Archives: Production

The field is operated by Mellitah Oil and Gas. a joint venture between the NOC and Eni.

Vitol has now revised down its oil demand growth forecast for next year to 1.3 million bpd.

Saudi Arabia is the only producer with significant spare capacity around 2 million bpd.

The most crucial difference between Goldman and some other forecasters is the confidence in emerging market demand.

The oil market ran higher in anticipation of this week’s formal re-imposition of sanctions against Iran by the United States.

The United Arab Emirates (UAE) is seeking to increase its oil output by 5 million barrels per day by 2030.

Iran exported the equivalent of 2.5 million barrels a day in April.

Unlike traditional oil. shale oil is more capital-intensive.

Russian oil output peaked during the Soviet era. averaging 11.416 million bpd in 1987. according to BP data.

Washington will reapply far-reaching sanctions on Iran’s petroleum and banking sectors starting on Monday.