UAE’s Minister of Energy, Suhail bin Mohammed Faraj Faris Al-Mazrouei, announced that the UAE will voluntarily cut its oil output by 2.5% (100,000 barrels per day (bpd)) in June to rebalance the global oil market.
A Saudi Ministry of Energy Official stated that Saudi Aramco will reduce its crude oil production in June by a voluntary amount of 1 million barrels of oil per day (mmbbl/d) or 1% of daily global oil supply.
The Omani government has ratified Sweedish energy firm Tethys Oil’s farm-in into the onshore concession Block 56.
Saudi Aramco has announced on May 10 new reduced prices for fuel in the Kingdom of Saudi Arabia.
Ecuador’s Petroamazonas EP has restarted operations in oil fields Sacha, Drago, Libertador and Lago Agrio, after the operation of the Trans-Ecuadorian Pipeline System (SOTE) and the Heavy Crude Pipeline (OCP).
Ghana has directed Eni SpA to start talks on combining its deposit at an offshore field with a neighboring explorer.
Genel Energy plc (Genel) announces the completion of five development wells at Tawke PSC in the licence during the quarter, three drilling rigs were released, but the Company-operated workover rig continues to service production wells.
Tethy Oil’s share of the production from Blocks 3&4 onshore the Sultanate of Oman amounted to 378,132 barrels in April, working out as 12,604 barrels of oil per day (bpd).
Libya's National Oil Corporation (NOC) and Repsol Consortium have reached the final stages of a project to recover LPG contained in flare gas in the Sharara oil field.
Petropars Group and the National Iranian Drilling Company (NIDC) have signed a memorandum of understanding on May 5 for future cooperation on oil and gas projects.
