Latest news
Statoil delayed its planned output increase by 2012.
Norway's Statoil decreased its 2010 oil and gas production target on Wednesday, after heavy maintenance work in the third quarter that affected its earnings and casted doubt on its plans to increase the output to 14% by 2012.
read more... 04/11/2010
Angola seeks greater oil output quota as India looks into additional crude imports
As declared by Angolan Oil Minister, Jose Botelho de Vasconcelos, the country wants OPEC to grant them a bigger output quota as India shows interest in additional crude imports.
read more... 02/11/2010
Hydropower output has declined in Spain
Spanish water reserves, needed to reduce the country's dependence on gas imports, had notice a decrease, according to official data showed on Tuesday, however the levels are above the average, being helped by very heavy rainfall in winter and spring time.
read more... 27/10/2010
Exxon to double or triple number of wells in Iraq's West Qurna.
With a current output production of 200,000 to 250,000 barrels per day, Exxon Mobil and its partner Royal Dutch Shell’s plan to drill new wells in Iraq's West Qurna to boost production to 2.325 mln barrels per day.
read more... 28/09/2010
Angola – surpassing its OPEC quota.
Oil minister Jose Botelho de Vasconcelos was quoted by local news agency declaring that Angola is extracting more than its OPEC quota. The Angolan official said that they’re producing 1.9 million barrels of oil per day even though they admit the output target set by OPEC is 1.656 million bpd, and still, industry sources say that it is even lower, at 1.52 million bpd.
read more... 27/09/2010