Latest news
Exxon started extracting Russian oil.
Oil production has begun from the Odoptu field at the Sakhalin-1 project in offshore northeastern Russia, on schedule and within the projected costs. It is expected to add up to 11 million barrels to oil production in 2011
read more... 01/10/2010
Equatorial Guinea signs five oil concession deals.
One of Africa’s largest oil producers, Equatorial Guinea, signed five concession deals, two of which were with Russia's Gazprom Neft that declared in June that they were hoping to sign a production-sharing agreement with the African nation for two oil offshore blocks.
read more... 29/09/2010
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
United Arab Emirates to increase production capacity.
The United Arab Emirates declared that, they currently have a production capacity of 2.7 million barrels per day and are planning to increase the capacity to 3.5 million bpd. As a lot of multinational companies have large stakes in concessions in this country, the UAE relies on these to make it possible.
read more... 23/09/2010
Total anticipates stable production in 2011
The major oil company in France, Total, stated on Wednesday that it anticipated stable oil and gas production in 2011, though the target remained of 2% average annual growth between 2010-2014.
read more... 16/09/2010