OPEC’s oil output has risen to 32.82mn bpd in June 2016, highest in recent history as Nigeria’s oil industry partially recovered from militant attacks and Iran and Gulf state members boosted supplies
OPEC oil output hits highest in June 2016
Exploration & Production
PDO raises US$4bn in debut visit to international financial markets
Petroleum Development Oman (PDO), acting on behalf of the Government of the Sultanate of Oman, has successfully raised US$4bn from a group of international financial institutions, to support activities including the construction of major new oil and gas facilities
‘Iraq’s oil exports will remain steady in 2016’
Oil exports from Iraq’s southern ports have averaged 3.162mn bpd in June 2016, down slightly from May due to maintenance work and rising demand for fuel oil used in power generation, according to state-owned South Oil Company (SOC) official
Total acquires 30 per cent stake in Qatar’s Al-Shaheen field
Total has been granted a 30 per cent interest by Qatar Petroleum (QP) in the concession covering the offshore Al-Shaheen oilfield for a period of 25 years beginning 14 July 2017
Algeria oil and gas output ‘moving back to growth’
State-owned energy company Sonatrach has stated that Algeria’s oil and gas output is moving back to growth after years of stagnation, helped in part by increased production at existing fields
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