Mexico’s Oil Output Hits Record Low in July
Mexico’s oil output hit a record low in July at 1.605 million barrels per day (mmbbl/d), with both national oil company Pemex and private oil producer’s production down on June’s figures.
News / International
Schlumberger, Liberty Oilfield Strike Merge Deal
International oilfield services company, Schlumberger, has entered into an agreement with hydraulic fracturing services company, Liberty Oilfield, for the contribution of Schlumberger’s onshore hydraulic fracturing business in the United States and Canada in return for a 37% equity interest in in the combined company.
Nigeria Pays $14 MM for Fuel in June, Despite Subsidy Removal
Nigeria’s state-owned oil company, Nigerian National Petroleum Corporation (NNPC), recorded a $14 million cost for fuel in June, months after it changed its pricing method in an effort to eliminate subsidies.
Gazprom Supplies 1 BCM of Gas to China
Alexander Ivannikov, Head of Gazprom's Financial and Economic Department, announced that Gazprom was the sole supplier of 1 billion cubic meters of gas to China in Q2 2020 via the Siberia pipeline.
Iraq to Proceed with Nebras Petrochemical Project
Iraq’s oil minister, Ahsan Ismail, reiterated the country’s willingness to progress with the implementation of the Nebras project to strengthen Iraq as a global player in the petrochemicals market.
US Oil Production Rises 4% in June
US oil production showed signs of recovery after June saw an increase of 4.1%, however, production levels have not fully recovered from the dramatic plunge in May.
Daily Production at South Pars Reaches 700 mcm
Pars Oil and Gas Company (POGC) has announced that Iran’s largest gas field, South Pars, has recorded a daily production of 700 million cubic meters (mcm).
Aramco Discovers New Oil, Gas Fields
The world’s largest oil company, Saudi Aramco, has discovered two new oil and gas fields in the north of Saudi near Arar.
Gazprom’s Q2 Profits Halved YoY
Russia’s state-run gas giant Gazprom has announced a Q2 decline in net income in excess of 50% year on year (YoY).
IOC to Expand Barauni Refinery
State-owned Indian Oil Corporation (IOC) is set to invest nearly $2.024 billion into expanding the capacity of its Barauni refinery in Bihar.
