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Oil and Gas

03/06/2016 at 18:08h

Pre-salt output a record

On May 8, the Brazilian state-run oil company Petrobras surpassed 1 million oil barrels of oil equivalent (oil and natural gas) per day extracted in the pre-salt layer.

24/05/2016 at 18:51h

Sonatrach to invest USD 73 billion by 2020

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Algeria’s state-run oil company plans to increase production despite slumping oil prices.

10/05/2016 at 18:55h

Arabs need to enhance private investment

The advice comes from the International Monetary Fund to the Arab countries. According to the fund, the need is urgent due to oil’s low prices.

06/05/2016 at 18:30h

Algeria will increase fuel production in 50%

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Currently, the country produces 30 million tons of oil by-products per year, but with new refineries going into operation, the expectation is to reach 45 million tons in 2024.

29/04/2016 at 13:43h

Petrobras could save as much as USD 511 million

Such is the amount the Brazilian state-run oil company could save each year as a result of restructuring measures. Shareholders approved the plan last Thursday (28th).

26/04/2016 at 19:21h

World Bank raises oil price forecast

The institution has revised up from USD 37 to USD 41 its projected average for the price of a barrel this year. Even so, commodity prices as a whole are seen to fall short of 2015 levels.

13/04/2016 at 15:35h

Opec: demand for oil slides

The Organization of Petroleum Exporting Countries asserts that ‘concern’ regarding the economies of Latin America and China is one of the reasons that led to forecasts being revised down.

24/03/2016 at 14:55h

Kuwait announces new oil discovery

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The new field is located in the western part of the Gulf country. The state-run company is making tests and believes in high economic viability.

29/02/2016 at 14:57h

Petrobras output dropped in January

The company’s production averaged at 2.65 million barrels of oil equivalent per day, which ws less than in December, due to scheduled rig maintenance shutdowns.

16/02/2016 at 18:25h

Oil product imports down

Brazil’s National Petroleum, Natural Gas and Biofuels Agency said importation slid 74.5% in January 2016 from January 2015.

16/02/2016 at 13:57h

Saudi Arabia, Qatar freeze oil output

In a concerted effort with Russia and Venezuela, the two Arab countries have pledged to keep production at January levels to prevent prices from diving further. The goal, however, is not to drive prices up.

15/01/2016 at 19:27h

Petrobras had record production in 2015

State-owned company produced, on average, 2.6 million barrels of oil equivalent of oil and gas in Brazil, an increase of 5.5% in comparison to 2014.