OPEC will need to make deeper supply cuts to keep oil prices above US$60 per bbl, according to 69 per cent of those surveyed in the Gulf Intelligence (GIQ) monthly Energy Market Survey in August
Exploration & Production
Eni’s zohr gas production reaches 2.7 bcfd
The production from Zohr field has reached more than 2.7 bcfd, about five months ahead of the plan of development (PoD), oil and gas company Eni said
Abu Dhabi’s TAQA exceeds one mmbbl of oil per month in Iraq oil field
Abu Dhabi National Energy Company (TAQA) stated that its subsidiary TAQA Atrush B.V. has set a new production record from the Atrush oil field in the Kurdistan Region of Iraq
ADNOC awards US3.6bn contracts to support upstream growth
The Abu Dhabi National Oil Company (ADNOC) has announced the award of multi-billion-dollar contracts for the procurement of casing and tubing as it drives value through its smart approach to procurement
McKinsey forecasts near-term upside but a challenging long-term outlook for refining
McKinsey Energy Insights states that new refinery capacity led by greenfield projects in Asia and the Middle East is expected to have a negative impact on global hub refining utilisation as early as 2022
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