ConocoPhillips announced that it would separate its upstream and downstream business arms that will see the US oil firm focus firmly on exploration and production.
Exploration & Production
PDO aims to produce 1.1mn BOE per day for 2011
Petroleum Development Oman (PDO) has stated that the firm aims to produce 1.1 million barrels of oil equivalent (BOE) per day this year.
Enka wins US$60mn Majnoon facility deal in Iraq
Royal Dutch Shell and Petronas have awarded a contract worth more than US$60mn to Turkish firm Enka to install and operate two production facilities at the Majnoon oilfield.
Regional refineries boost production
Arab refineries have boosted production by nearly 633,000 barrels per day (bpd) over the past four years as they are pushing ahead with projects to expand capacity to meet growing domestic consumption and external demand.
Statoil aims for 2.5 million boepd production by 2020
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