Tag Archives: Production

Rising U.S. production helped fuel a slump in prices.

Moscow agreed to contribute around 0.3 million bpd to the cuts and Russian state and private companies are sharing the burden on a pro-rata basis.

Last week. news emerged about preliminary plans to build a $20 billion complex to convert crude oil to chemicals.

OPEC was discussing ‘soft targets’ of around 1.8 million bpd for Nigeria and 1 million bpd for Libya.

Nigeria would support an output cap for itself at 1.8 million b d and would continue to be responsible with its production.

Libya and Nigeria. both OPEC member states are exempted from the obligation to cut production within the deal.

".Whatever the agreement will be. we will support it.". the minister said.

Russia is the producer everyone is watching ahead of the OPEC meeting.

Over 800 tankers and vessels of all sizes berthed at the terminal in the last fiscal. up from 540 in the previous year. or around 33%.

Total. now expects the production from the Martin Linge field to begin in the first half of 2019.