Tag Archives: Production

Alekperov is Lukoil'.s largest shareholder and owns about a quarter of the firm.

With oil demand at about 1.2 million bpd and production at about 800.000 bpd. investors in Indonesia’s oil and gas sector will have a big supply gap to fill.

Iran is growing its production. as it was allowed to pump an additional 90.000 bpd based on its October production level under the OPEC cut deal.

Under the production agreement. OPEC committed to 32.5 million bpd.

Tehran has signed a raft of agreements with the likes of Eni. Shell. Schlumberger. Lukoil. Wintershall and OMV to study and potentially develop its massive oil and gas deposits.

SOCAR specialists will provide detailed information about the implementation of current and further development projects as part of the technical session in Sumgait on November 30.

OPEC realized the importance of working with Russia two decades ago. but the Russians did not understand the importance of working with OPEC until lately.

Russia and China are growing their partnership and investment links as Moscow scrambles to find ways to fund oil and gas projects that are made difficult under Western sanctions.

OPEC is to meet in November to discuss a possible extension of the deal beyond March.

Crude oil in floating storage is declining. showing that the market is rebalancing.