Tag Archives: oil production

New York, U.S. | Xinhua | Oil prices eked out modest gains on Monday as market participants weighed Russia’s plan to cut its oil production. The West Texas Intermediate (WTI) for March delivery rose 42 cents, or 0.53 percent, to settle at 80.14 U.S. dollars a barrel on the New York …

Moscow, Russia | Xinhua | Russian President Vladimir Putin said Tuesday that the country’s oil production increased by 2 percent over the past year despite Western sanctions, according to the Kremlin. “I would especially like to talk about the oil and gas sector. Despite the previously mentioned sanctions pressure, oil production …

Overall oil production to reduce by two million barrels per day starting November Lagos, Nigeria | Xinhua | The African Petroleum Producers’ Organization (APPO) announced Thursday it supports the recent decision by the Organization of Petroleum Exporting Countries (OPEC) and some non-OPEC oil-producing countries to cut overall oil production by two …

Moscow, Russia | Xinhua | Russia’s oil production increased by 3.4 percent year on year in the first six months of 2022, Russian Energy Minister Nikolai Shulginov said on Thursday. At a meeting with Russian President Vladimir Putin, Shulginov said the country’s oil production in the first half of 2022 rose …

Brazzaville, Congo | Xinhua | Republic of Congo’s Minister of Hydrocarbons Bruno Jean Richard Itoua, current chairman of the ministerial conference of the Organization of the Petroleum Exporting Countries (OPEC), announced Wednesday that OPEC will increase oil production to 400,000 barrels per day. According to Itoua, this decision is aimed at …

Tripoli, Libya | Xinhua | Libya’s state-owned National Oil Corporation (NOC) is considering its plans for 2022, including the increase of oil production and reserves, NOC Chairman Mustafa Sanalla said on Wednesday. Sanalla made the remarks during a speech following a series of the meetings of its 28 subsidiary or related …

Riyadh, Saudi Arabia | Xinhua | The Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries decided at a meeting on Thursday to increase oil production by 500,000 barrels per day (bpd) in January 2021. In light of the current oil market fundamentals and the outlook for 2021, OPEC+ agreed …

Kampala, Uganda | THE INDEPENDENT  | Residents and local leaders from Hoima and Kikuube districts are demanding for better services before the actualization of the commercial oil production. They argue that although the government has tried to upgrade some schools and health facilities, the rural areas remain under served and seriously …

Kampala, Uganda | THE INDEPENDENT | Government has pushed the Final Investment Decision (FID) for commercial oil production to September 2019. Speaking during the budget presentation on Thursday, Finance and Economics Development Minister, Matia Kasaija said, “Preparation for commercialization of oil and gas resources continued this year. The lead investor for …

Kampala, Uganda | THE INDEPENDENT | The National Planning Authority (NPA) is positive that the delay in Uganda’s oil production is a blessing in disguise. The authority says that the delay will give the country time to prepare and organize its industry. National Planning Authority Executive Director Dr Joseph Muvawala …