OPEC oil supply reaches three-year high
Record or near-record oil output from Iraq and Saudi Arabia has resulted in OPEC’s oil supply reaching a three-year high, stated a Reuters survey
E&P
Gulf Keystone Petroleum signs purchase contract with KRI buyer
Gulf Keystone Petroleum has signed a six-month contract with a crude oil buyer in the Kurdistan Region of Iraq (KRI) to export up to 40,000 boepd from the Shaikan development
Production doubled, gas facility completed at Iraq’s Badra field
Russia’s Gazprom Neft has announced that it has doubled oil production at its Badra oilfield in Iraq with 27,000-28,000 bpd
New survey highlights Lebanon’s onshore oil potential
NEOS GeoSolutions, Inc. has completed a study to map regional hydrocarbon prospectivity over a 6,000 sq km area in Lebanon
OPEC oil production in May highest since end 2012
Oil production from Organization of the Petroleum Exporting Countries (OPEC) totalled 31.11mn bpd in May 2015, up 180,000 bpd from April and is the group’s highest monthly volume since October 2012, according to latest Platts survey
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