Eni Plans to Reduce Oil Output from Libya
Eni’s oil production in Libya will be reduced from 320,000 b/d to 200,000 b/d, Eni CEO, Claudio Descalzi stated.
News / International
Iran not to Increase Crude Output in Coming FY
Iran has no plans to increase its annual crude oil output in the next fiscal year (FY) starting March 21.
Saudi Crude Exports to Remain Below 7 mb/d
The Saudi Arabian Ministry of Energy has announced that crude exports will remain below 7 million barrels per day (mb/d) and crude production will stay under 10 mb/d during April 2018.
Iran, Azerbaijan Edge Closer to Oil Agreement
There have been positive developments in ongoing oil talks between Iran and Azerbaijan and a deal may be signed in March 2018.
SDX Announces New Discovery in Morocco
SDX Energy Corporation has announced a new natural gas discovery in its SAH-2 well, located on the Sebou permit in Morocco.
ADNOC Grants Eni Stakes in UAE Offshore Fields
The Abu Dhabi National Oil Company has granted Eni two stakes in the UAE’s offshore concession areas in a $875 million, 40-year deal.
Iraq to Decrease Fuel Imports by 25%
The Iraqi Ministry of Oil announced plans to decrease imports of petroleum products by 25%.
Libyan Refinery Hit by Explosion
Libya’s Marsa El-Brega refinery was hit by an explosion and fire during the early hours of March 10th after a gas leak at its methanol plant.
Adnoc Offers Blocks for Bidding, Moves Toward Downstream
Abu Dhabi National Oil Company (ADNOC) will offer new oil and gas blocks for bidding to help the country hit new untapped resources, announced ADNOC CEO, Sultan al-Jaber, during CERAWeek in Houston, US.
Aramco: $20 Trillion Needed for Global Petroleum Sector
The global oil and gas sector needs over $20 trillion investments through the coming 25 years in order to achieve the forecasted demand growth and to compensate for the developed fields’ natural decline, said Amin Nasser, Saudi Aramco’s CEO.
