As Saudi Arabia, Iraq and Libya increased their oil output amid a stronger global demand for the commodity, OPEC production climbed the highest ever in almost four years, said the International Energy Agency (IEA)
Wood MacKenzie report has announced that a sustained period of low oil prices could trigger large-scale mergers and acquisitions (M&A)
Saudi Arabia’s oil production has reached a record high of 10.3mn bpd in March 2015, surpassing its previous peak of 10.2mn bpd in August 2013
Russia’s Bashneft International, operator of Bashneft’s overseas upstream projects, has announced the completion of seismic surveys over Iraq’s Block 12
While oil prices have dropped below US$50 per barrel, Saudi Arabia is ramping up the number of machines drilling for oil and gas in the country, say industry experts
