Tag Archives: Production

Libya agreed its oil production would not exceed 1 mln bpd. and Libya said it would bring its output in line with the target next year.

Russia has three oil export terminals on its Arctic coast.

Under the current deal the producers are cutting supply by about 1.8 million barrels per day (bpd).

Eni Norge holds a 65-percent stake and acts as operator of the Goliat field.

Iraq has asked BP to help increase output from Kirkuk oilfield to more than 700.000 barrels per day.

Producers in the Middle East. most of which are OPEC members. have supplies that are relatively less expensive to produce.

GE shares were up 0.5 percent in premarket trade. However. the company’s shares have sunk 44 percent this year.

Venezuelan crude exports to the U.S. fell last month to their lowest levels since January 2003.

International trading firms Petredec and Glencore lifted cargoes from Iranian ports in December.

The Yamal project is an important step in Moscow’s efforts to build ties to China.