The Omani Oil Ministry announced that the country's oil production in 2016 will target the level of 990,000b/d. The ministry added that its plan to halve economy’s dependence on oil in five years, which was recently ...
Iraq has recorded a rise in exports from its southern oil fields to an average of 3.285mb/d in January, up from 3.215mb/d in the previous month, seeing a drop in oil revenues of up to $650m.
Iran is to boost its crude oil production capacity by 160,000b/d following the completion of expansion projects at its North Azadegan and Yadavaran oilfields in south-western Iran.
Oman’s production of crude oil and condensates in December 2015 rose in total by 1.12%, compared to November 2015, based on figures released in the Ministry of Oil and Gas’s monthly report.
OPEC announced that global crude oil prices, currently at the seven-year low, could rise in under a year time amid cuts in oil output from some producers.
Nigerian National Petroleum Corporation announced planned investments of around $20b in its operations next year, with the aim of ensuring that Nigeria’s crude oil production capacity hits 3m bpd by the end of 2016.
Libya's oil production has dropped to 300,000 b/d, less than a quarter of what it produced before the 2011 fall of Muammar Gaddafi, mostly because of insecurity and closed pipelines.
Port Harcourt Refining Company (PHRC) managing director Bafred Enjugu told AFP that Nigeria was finally "domesticating" the refining of crude into products