Following the start of production of the Nidoco North 1X exploration well and the Nidoco North West 4 development well, Eni has brought the production of the Nooros field, located in Egypt’s Abu Madi West Concession, to around 65,000 boepd
Oil prices are expected to return to the range of US$80/bbl within the next decade, predicts the US Energy Information Administration (EIA) in its recently-released International Energy Outlook 2016 (IEO2016), with investment likely to continue slowing to a point at which producers will be unable to respond quickly to future growth in demand for liquids
Austria’s integrated oil and gas company OMV has signed an MOU with National Iranian Oil Company (NIOC) to revive activities in Iran
Monthly data compiled by Bloomberg showed that Iran’s oil production rose by 300,000 bpd in April, according to a report by Kallanish Energy. This was the sharpest increase recorded amongst OPEC producers, whose combined output grew by 484,000 bpd in that month, the report says
Continued supply growth will become "unsustainable", leading to a supply shortfall of 4.5mn bpd by 2035 unless exploration results start to "significantly" improve, oil supply research firm Wood Mackenzie has warned
