A new report by Wood Mackenzine indicates that the low price of oil is unlikely to dramatically reduce production levels in the near to mid term future.
The increased production will come from Iran's North Azadegan and Yadaravan fields, which will be inaugurated on the 26th February 2016.
Total has announced that it and partners have brought the Moho Phase 1b project, located 75 km off the coast of Pointe-Noire in the Republic of Congo, on stream.
EIA says lack of enough infrastructure means one-fifth of state's natural gas production is flared rather than marketed.
Additional production of around 400,000 bpd from Iraq's southern fields will boost the country's total crude oil production levels.
Saudi oil production reached 10.225 million bpd in September say industry sources.
Production levels declined in the UAE, Libya, Nigeria, and Venezuela in March, but this was counterbalanced by a dramatic increase in Iranian production levels.
The UAE has ambitious growth targets for 2020 and the country’s crude output hit a record high last year. The Gulf State is also seen as one of the few reliable sources of incremental crude supplies in the region, writes Richard Mallinson Geopolitical Ana......
Kuwait has increased its crude oil production levels by 220,000 bpd in 2015, an increase of 7.6 per cent compared to 2014.
Iraq increased its annual oil production by 750,000 barrels per day in 2015, while Saudi Arabia pumped an additional 510,000 bpd.
Production levels of 33.21 million bpd represent a year on year increase of 510,000 bpd for OPEC, which will raise eyebrows in some quarters as the cartel continues its strategy of keeping supply levels high, even during the current era of low oil prices.
Russia is expecting to pump around 10.78 million barrels per day in 2016
BP has started oil production from its new facilities at the Valhall field in the southern part of the Norwegian North Sea. Production started on January 26.
Iran finds itself in a difficult position, as it looks to ramp up production levels after the removal of international sanctions this year. With the market already heavily oversupplied, OPEC is struggling to accommodate an increase in the number of Irania......
Oman's oil and gas minister says that the country would cut between 90-100,000 bpd of crude and condensate, provided that other key producers also agree to limit their own production.