Iraq Cuts Crude Supplies to Asia in July
Iraq’s Oil Marketing Company (SOMO) has made significant cuts in Basra crude supplies to Asia for the upcoming July as Iraq steps up efforts to comply with OPEC+ cuts.
News / International
UAE Oil Output Capacity Reaches 4.2 mmbbl/d in April
The UAE, OPEC’s third largest producer, recorded a daily production of 4.2 million barrels of oil per day (bbl/d) in April before the record OPEC+ agreement.
PDVSA Halts Operations at Crude Upgrader Due to High Inventories
Venezuela’s state-run oil company Petroleos de Venezuela (PDVSA) has put a halt to operations at the Petropiar crude upgrader and has stopped crude transport from the company’s Petrosinovensa and Petromonagas projects.
Morocco Enters Into Exploration Contract with Conocophillips
Morocco has signed a two-year reconnaissance contract with Conocophillips for onshore exploration in Mesorif, Northern Morocco.
Sakhalin Energy Commences Maintenance at Offshore Russia
Sakhalin Energy has confirmed that maintenance activities will take place at the Lunskoye-A offshore platform, the onshore processing facility (OPF), booster station No. 2 and the LNG plant.
China’s Refinery Output Rises 8.2% YoY in May
China’s crude oil throughput in May rose 8.2% YoY following independent refiners increasing production in response to the growing fuel demand as coronavirus lockdown restrictions ease.
Iraq Requests BP to Cut Production by 10%
Iraq has requested that supermajor BP cut its crude production by 10% at the southern field of Rumaila as Iraq ramps up efforts to comply with OPEC+ cuts.
Iran’s Natural Gas Production Rises 3.5% YOY
Mohammad Asgari, a spokesman at National Iranian Gas Company (NIGC), announced that Iran’s natural gas production currently stands at 674 million cubic metres (mcm), a 3.5% increase compared with this time last year.
Yemen Has Plans to Raise Production by 25%
Yemen’s energy minister of the country’s internationally-recognised government, Aws Abdullah al-Awd, announced that Yemen has plans to ramp up production by 25% to 75,000 barrels of oil per day (bbl/d).
Qatar Petroleum Announces Strategic Integration of Muntajat
Qatar Petroleum (QP) has announced its integration of Qatari chemical and petrochemical marketing and distribution company, Muntajat, as part of its efforts to strengthen its global competitive position in the downstream sector.
