Sunday 22 April 2018
 
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oil production

Mideast to remain largest oil exporting region: study

By 2040, the Middle East will remain a large net energy exporter and the world’s largest oil exporting region, but it will lose share as an LNG exporter, according to the 2018 BP Energy Outlook.  “The Middle East

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Oil prices to average $50-$70 till 2023: BofAML

Brent crude oil prices are expected to average $50 to $70 per barrel (/bbl) in a medium-term horizon to 2023, said the Bank of America Merrill Lynch (BofAML) in its latest Global Energy Paper.  This forecast range co

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Oil prices to average $50-$70 till 2023: BofAML

Brent crude oil prices are expected to average $50 to $70 per barrel (/bbl) in a medium-term horizon to 2023, said the Bank of America Merrill Lynch (BofAML) in its latest Global Energy Paper.  This forecast range co

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Russia ready to extend Opec deal, says minister

The international deal between Opec and other countries to cut oil output could be extended beyond March 2018 if needed, said a report citing Russian Energy Minister Alexander Novak. Novak's comments came after his meeting wit

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UAE to cut oil production by 139,000 bpd in November

The Abu Dhabi National Oil Company (Adnoc) will lower its production of oil in November, reflecting the country’s commitment to reduce its share of production by 139,000 barrels per day, which was decided by the Organisation of the Petrole

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Kuwait to maintain oil output rate till March

Kuwait will continue to implement the current oil production rate until March of 2018, Emirates news agency Wam reported, citing Kuwait News Agency. The Joint Opec-Non-Opec Ministerial Monitoring Committee (JMMC)

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Opec commends UAE compliance with output goals

Opec has commended the UAE’s commitment to adhere to its production adjustments for "the remaining period of the Declaration of Cooperation”, a report said. The Declaration was made at the joint Opec-Non-Opec Prod

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More oil cuts possible in future, says Saudi minister

Saudi Energy Minister Khalid Al Falih said further oil output cuts could be needed in the future and Organization of the Petroleum Exporting Countries (Opec) and other leading producers would assess the market situation in July, reported R

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Opec raises forecast on 2017 global demand for oil

Opec has raised the forecast on growth of global demand for oil in 2017 by 10,000 barrels a day to 96.32 million barrels a day, the organization said in its monthly oil market report for April. According to the renewed forecast, i

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Is exploration and production about to be ‘uber-ized’?

Digital disruption is changing everything. Think about the taxi industry. Compare the old way to the new way, and consider the future, such as the move to autonomous vehicles. Accenture, a global management consulting and professi

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