Oil Rig Count Falls As WTI Hits $60
The number of active oil and gas rigs fell for the second week in a row in the United States this week according to a source, while actual US production was stagnate for the week. The total number of active oil and gas drilling rigs fell by 10 rigs according…
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AprOPEC’s Oil Production Drops to Lowest Since 2015.
OPEC’s oil production in March 2019 fell to its lowest level since February 2015, as Saudi Arabia cut more than it had pledged under the output cut deal and Venezuela continued to struggle amid U.S. sanctions and a major blackout. The combined production of all 14 OPEC members stood at…
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AprLibya NOC and Eni sign agreement to boost gas production.
Libya’s National Oil Corporation (NOC) and Italian oil major Eni signed on March 25 two memoranda of understanding (MoU), at NOC’s Tripoli headquarters. The first concerned the establishment of a steering committee to expedite gas production at structures ‘A’ and ‘E’ within maritime concession MN 41 in the Sabratha marine…
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AprRefinery Investments In Low-Sulfur Crude Production Hit $1B.
Investments in the production of lower-sulfur fuels at refineries across the world have reached US$1 billion to date. “There’s been a huge amount of investment in refineries since 2015 and (it) will continue beyond 2020, BP’s global head of marine fuels. Refiners have been preparing for the entry into effect…
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MarLibyan oil output could reach 1.4 million b/d.
Libya’s crude oil production has recovered to 1.2 million b/d but the OPEC producer has the ability to increase output to 1.4 million b/d this year “if the security situation remains stable” the chairman of state-owned National Oil Corporation said so.Libyan oil output has recovered sharply over the past few…
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