Libya’s oil production rises by 85,000 bpd on Day One of 2017
Libya produced 685,000 bpd on Sunday, up from around 600,000 bpd in December 2016, an official from the National Oil Corporation (NOC) has announced
E&P
Egypt signs three offshore exploration deals worth US$220mn
Egypt has signed three offshore oil and gas exploration and production deals worth a total of at least US$220mn with France’s Total, Britain’s BP, and Italian oil major ENI’s Egyptian subsidiary IEOC, according to the Oil Ministry
ADNOC to cut crude supplies as part of OPEC deal
Abu Dhabi National Oil Company (ADNOC) has revealed that it would cut crude supplies by up to five per cent across its three export grades to meet commitments under an OPEC deal to curb production
Production cuts spell bad news for Middle East exports with knock on effects
Middle East oil exports are lower than they were 40 years ago due to increased internal consumption, and a slowing of production may affect the sector further than first thought
Russia and Kazakhstan to join OPEC at talks
As OPEC countries are to meet with non-OPEC countries in order to discuss a production output cut in order to bring the oil price back above the US$55 per barrel mark
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