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Lukoil reaches 100 MMt of oil at West Qurna-2 field

IRAQ -- Cumulative production at the West Qurna-2 field has reached 100 MMt of oil as part of successful implementation of Phase 1 of the project. With 184 wells drilled at the field, the average daily production rate is 400,000 bbl. To man......【More】

2019-04-24

OPEC+ oil cuts jeoperdized by Iran waiver termination

CAIRO (Bloomberg) -- As the U.S. ends waivers that let countries buy Iranian crude, this threatens to squeeze oil supplies in an already tight market. The decision may also jeopardize the deal that OPEC and allied suppliers including Russia......【More】

2019-04-23

CNPC overseas equity oil, gas output up 10% in first-quarter 2019

BEIJING (Xinhua) -- Overseas equity of oil and gas production of China National Petroleum Corporation (CNPC) rose 10% year over year in the first-quarter 2019. Production came in at 26.09 million metric tonnes of oil equivalent in first qua......【More】

2019-04-22

Oil retreats after longest run of weekly gains in three years

LONDON (Bloomberg) -- Oil retreated in New York after its longest run of weekly gains in three years, as traders and investors awaited more clarity on the strength of the global economy and demand. West Texas Intermediate futures slid about......【More】

2019-04-16

Iran offers up 6 MMbbl of oil with dismal results

DUBAI (Bloomberg) -- As Iran struggles to sell 6 MMbbl of oil, only one deal has closed for 35,000 bbls, so far. Irans oil production and exports have slumped after the U.S. reinstated sanctions last year, and new curbs are set to further r......【More】

2019-04-15

As conflict escalates in Libya, so do global oil prices

WASHINGTON (Bloomberg Opinion) -- Libya is heading towards mass chaos that puts oil output and exports at risk, just as its oil sector looked set to stage a recovery. A disruption to supplies from the North African country would hit Europea......【More】

2019-04-09

Jordan to negotiate $1 billion debt-reduction loan, oil from Iraq to help boost economy

AMMAN (Bloomberg) -- Jordan and the World bank are in $1-billion loan discussions to cut the cost of the Middle East countrys debt repayments and revive an economy strained by more than a million Syrian refugees. The governments moving on s......【More】

2019-04-08

Canadian Wildcatters see boost from oil cuts

CALGARY (Bloomberg) -- Local wildcatters that pump light crude far from the giant oil-sands mines of northern Alberta are getting a big price boost from the curtailments announced at the start of December, without the headaches. Many of the......【More】

2019-04-03

Lukoil appoints Sergey Kochkurov as V.P. , names additional leaders

MOSCOW -- Lukoil has made changes in its leadership team. Sergey Kochkurov is appointed V.P. of PJSC Lukoil for technical services. He previously held the position of V.P. of PJSC Lukoil and general director of OOO Lukoil West-Siberia (whol......【More】

2019-04-02

Pemex could receive $7 billion to pay ballooning debt

MEXICO CITY (Bloomberg) -- Bankers in Guayaberas huddled in Acapulco to roll out a new online payment system and to pledge financial inclusion. But all anyone could talk about in the corridors was the nations ailing oil company, Pemex, and......【More】

2019-03-25