Saudi Arabia hopes production curbs to relax in 2019
03/03/2018 by Richard
Khalid al-Falih, the oil minister for Saudi Arabia, has commented that he hopes to see OPEC production curbs relaxed in 2019 after the current deal expires, although he stressed the need for a more permanent…
ExxonMobil announces increased oil and gas reserves
27/02/2018 by Mark
Oil giant ExxonMobil has announced that it boosted its oil and gas reserves by 2.7 billion BOE (barrels of oil equivalent) in 2017. Its total reserves now stand
IEA warns that US shale producers may ruin OPEC’s plans
24/02/2018 by Mark
The Paris-based International Energy Agency (IEA) has warned in its latest monthly report that US shale producers may thwart OPEC’s goal of
Venezuela’s oil output drops dramatically as it imports Russian crude
21/02/2018 by Richard
A recent report published by OPEC discloses that Venezuela pumped 1.6 million barrels per day (bpd) in January, 20% less than the
Libya’s oil production tops a million barrels a day
18/02/2018 by Mark
For the first since July 2013, Libya’s oil production has averaged over a million bpd (barrels per day) over a full month. The
ExxonMobil publishes business report into climate change
12/02/2018 by Mark
In response to a shareholder resolution at its 2017 annual general meeting, ExxonMobil has published a report detailing how it
US production passes 10 million bpd threshold
06/02/2018 by Mark
New data from the US government shows that the US produced 10.038 million bpd (barrels per day) in November last year, exceeding the symbolic 10 million threshold for the first time since 1970. Much of…
Saudi oil minister dismisses US shale concerns
03/02/2018 by Richard
Speaking in Davos at the World Economic Forum, Saudi Energy Minister Khalid Al-Falih hit back at claims that increasing US shale production will
Saudi Arabia calls for oil producers to continue cooperation after 2018
27/01/2018 by Mark
Talking to reporters before the January 21 meeting of the joint ministerial committee, Saudi Energy Minister Khalid al-Falih urged oil-producing countries to
ExxonMobil and MagnaBond form new partnership to develop well integrity evaluation technology
24/01/2018 by Richard
ExxonMobil, the oil major that supplies Mobil UK stockists, has announced a new three-year partnership with MagnaBond to develop new technologies to
Iraq’s oil production capacity approaches five million bpd
21/01/2018 by Mark
Jabar al-Luaibi, Iraq’s Oil Minister, has announced that the country’s production capacity is nearing five million bpd (barrels per day), but he also stated that Iraq would stand by its commitments as an OPEC member…
EIA expects US oil output to reach 11 million bpd before 2020
18/01/2018 by Mark
In its first short-term forecast for 2019, the US Energy Information Administration painted a picture of US oil output averaging 10.85 million barrels per day (bpd) over the year, with daily output hitting the