Iran started pumping oil from the oil layer of South Pars gas field (in the Persian Gulf). Production from seven oil wells in the complex began and should reach a net peak capacity of 35,000b/d in about a week.
Qatargas will double the supply of liquefied natural gas (LNG) to Poland's gas firm PGNiG to 2m tons/y. The deal will come into effect in January 2018 and run until June 2034.
Qatar’s onshore oil price in February marginally increased above its price in January to reach $55.11 per barrel - $10.11 above the $45-per-barrel rate previously approved in the state budget.
Qatar has officially inaugurated its $1.5b Laffan Refinery 2 (LR2) in Ras Laffan, which has a capacity to refine 146,000b/d of condensate from the North Field.
Russian oil major Rosneft has concluded a deal with a company linked to Qatar and commodities trader Glencore to supply up to 55m tons of crude in total over a 5-year period.
The Qatari Minister of Energy and Industry, Mohammed bin Saleh Al Sada, has declared that the rate of growth of demand for natural gas doubled in 2015 compared to the 2014.