Oil production
- Middle East
South Sudan to resume oil production, export
Juba: South Sudan said that it would resume the production and export of crude oil to the international market through Port Sudan starting Wednesday. Minister for Petroleum Puot Kang Chol on Tuesday…
- Middle East
Saudi oil revenue hits 3-year low, impacts mega-projects: Report
The Kingdom of Saudi Arabia’s oil export revenues fell to their lowest level in three years, due to the decline in oil prices and the Kingdom’s decision to reduce production. Citing government…
- Middle East
Saudi Arabia plans to boost oil production capacity to 12.3 million BPD by 2028
Saudi Arabia’s Minister of Energy, Prince Abdulaziz bin Salman has announced the Kingdom’s ambitious plan to increase its oil production capacity to 12.3 million barrels per day (bpd) by 2028. This significant…
- Middle East
Saudi Arabia to continue voluntary oil cuts till year-end
Riyadh: The Kingdom of Saudi Arabia (KSA) will continue with one million barrel per day voluntary crude oil production cut until the end of the year, the Saudi Press Agency reported on…
- Middle East
Saudi to extend one million bpd oil production cut until Sept
Riyadh: The Kingdom of Saudi Arabia (KSA) announced on Thursday, August 3, that it will extend its voluntary oil production cut of one million barrels per day (bpd) for another month to include September,…
- Middle East
Oil production cut decision is ‘precautionary’, says Saudi minister
Riyadh: The Kingdom of Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said the decision to cut oil production is a precautionary one aimed at ensuring market stability. “We will continue to…
- Middle East
OPEC: Saudi Arabia announces further oil cut of 1M bpd
Riyadh: The group of oil-producing countries resolved on Sunday to extend oil production curbs through 2024 as petrol prices remained stable, according to The Hill. The Organisation of the Petroleum Exporting Countries (OPEC) and…
- Middle East
UAE to voluntarily cut oil output by 144,000 bpd from May to end of 2023
Abu Dhabi: Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, announced that the UAE will voluntarily cut its oil output by 144,000 bpd, effective May through the end of 2023,…
- Middle East
Saudi Arabia announces voluntary oil production cut
Riyadh: Saudi Arabia’s Energy Ministry has announced a voluntary oil cut of 500,000 barrels per day from May till the end of 2023. The production cut is in coordination with some other…
- Middle East
Saudi Arabia to cut oil production by 573,000 barrels/day from Nov
Riyadh: Abiding by the decision of the Organisation of Petroleum Exporting Countries (OPEC), Saudi Arabia has decided to reduce oil production by 573,000 barrels per day. OPEC+ recently decided to cut down…
- Middle East
Saudi: ‘Working to stabilize and balance oil markets,’ says King Salman
Riyadh: Saudi Arabia’s King Salman bin Abdulaziz on Sunday said that his country is working hard to support the stability and balance of global oil markets, in the latest response to US…
- Middle East
Biden re-evaluating relations with Saudi Arabia after OPEC+ decision
The White House on Tuesday announced that US President Joe Biden is re-evaluating his country’s relations with Saudi Arabia. This comes after the OPEC+ group of oil producers announced on October 5,…
- Middle East
White House fails to prevent OPEC+ decision to cut oil production
The administration of US President Joe Biden launched a large-scale campaign in a last attempt to distract US allies in the Middle East from the decision to significantly reduce oil production, the Cable News…
- World
OPEC+ boosts oil output by slower pace than previous months
Vienna: The OPEC oil cartel and its allies decided on Wednesday to boost production in September at a much slower pace than in previous months at a time of high oil prices…
- Middle East
Iraq’s oil production to rise 4.580 million barrels per day
Baghdad: Iraq said that its oil production would reach 4.58 million barrels per day (bpd) in July and August. The latest increase came after the Organization of the Petroleum Exporting Countries (OPEC)…
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