OPEC Nears Extending Production Cuts
More talks are still needed with non-OPEC producers that were part of the output deal.
News / International
Russian Oil Production Hits 11-Month Low in May
Russian crude oil production has declined to its lowest level since June 2018, reaching 11.11 million barrels per (mb/d) in May.
Hyundai E&C to Build Iraq’s Seawater Injection Facility
Iraq has selected Hyundai Engineering and Construction Company to construct a seawater injection facility.
Bahrain to Allow Foreign Ownership of Extraction Projects
Bahrain plans to allow international companies to own 100% of oil and natural gas extraction projects.
Algeria to Decide on Total’s Anadarko Deal in Months
It could take the Algerian government months to take its final decision on whether it will allow Total to take over Anadarko assets in the country.
UAE’s Crescent to Double Gas Production in KRI
Crescent Petroleum is setting a strategy to double natural gas production capacity in the Kurdistan Region of Iraq (KRI) over the next two or three years.
Iraq Ends Emergency State in Majnoon Oilfield
Iraqi oil minister Thamer Ghadhban announced the end of the emergency state applied in the Majnoon oilfield because of floods.
KNPC Prepares 25 Projects for Bidding in FY 2019/20
Kuwait National Petroleum Company (KNPC) is planning 25 projects for its bidding plan.
Iranian Oil Exports Decline to 400,000 b/d
Iranian crude oil exports have decreased to around 400,000 barrels per day (b/d) in May due to sanctions by the US.
Qatar Petroleum Awards FEED Contract to McDermott
Qatar Petroleum has awarded a Front-End Engineering Design (FEED) contract to McDermott Middle East in the North Field Expansion Project
