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Wednesday, Nov 20, 2019

Oil production

Oct 31, 2019 18:06
The index was dragged down by coal mining which came in at minus 20.5 per cent. The figures for the same month last year stood at 4.3 per cent. read more
Sep 24, 2019 06:13
The September 14 attacks on the two giant oil facilities in Saudi Arabia caused raging fires and damage that halved the crude output of the world’s top oil exporter, by shutting down 5.7 million barrels per day of production. read more
Sep 18, 2019 07:35
Energy Minister Prince Abdulaziz bin Salman, who was only appointed to the role earlier this month, said that the world’s top energy exporter had dipped into its strategic reserves to maintain supply to clients. read more
Sep 15, 2019 06:37
About 50% of Saudi Arabia’s oil production, representing about 5.7 million barrels per day, has been halted for now due, SPA news agency said, citing the kingdom’s Energy Minister Abdulaziz bin Salman read more
Apr 03, 2019 08:54
Ghawar in Saudi Arabia, the world’s largest conventional oil field, can produce a lot less than almost anyone believed. read more
Jan 28, 2019 15:22
Oil prices fell 1 percent on Monday after US companies added rigs for the first time this year, a signal that crude output may rise further, and as China, the world’s second-largest oil user, reported additional signs of an economic slowdown. read more
Dec 07, 2018 22:15
In November 2016, OPEC countries, along with Russia, decided to reduce their crude oil production by around 1.5 million barrels per day (mbd). read more
Dec 06, 2018 16:51
OPEC members are meeting to agree on their response to recent declines in oil prices, with analysts predicting a cut in production of at least 1 million barrels per day. read more
Dec 02, 2018 13:37
At the meeting, the Oil Ministry made a presentation showing that 149 smaller fields of Oil and Natural Gas Corp (ONGC), Oil India Ltd (OIL) and other explorers accounted for just 5 per cent of the domestic crude oil production. read more
Nov 23, 2018 19:31
Oil production has surged this year. The International Energy Agency expects non-OPEC output alone to rise by 2.3 million bpd this year. Oil demand next year, meanwhile, is expected to grow by 1.3 million bpd. read more
Oct 15, 2018 17:03
Though there is enough oil production, the unique features of marketing in the oil sector have pushed up the oil prices, says Prime Minister Narendra Modi. read more
Jul 03, 2018 21:08
Saudi Arabia, which has been pumping around 10 million barrels per day, holds the largest spare capacity in the world and is the only country that can add substantial supply to the market. read more
Jul 03, 2018 19:17
Washington has said it wants to pressure Iran to change its behaviour by taking away all revenue Tehran generates from crude sales, part of the confrontational approach adopted by President Donald Trump, who pulled out of the historic nuclear pact in... read more
Jul 03, 2018 17:57
The US pulled out of the Iran nuclear deal in May and initially said it wanted allies to stop buying Iranian crude entirely. The State Department said Monday it would examine waivers on a “case-by-case basis” as it re-imposes sanctions. read more
Jun 22, 2018 18:23
The preliminary accord allows for an additional 600,000 barrels a day of oil to flow onto the market, about 0.5% of global supply, according to a delegate at the OPEC meet in Vienna. That reflects a 1 million barrel-a-day adjustment on paper to the production... read more