Tag: oil production

• Friday, October 22nd 2021 - 08:40 UTC

  Argentine province of Neuquén produces highest amounts of oil in 17 years

  

  Thanks to the increasing output from Vaca Muerta, the Argentine province of Neuquén Thursday announced it had extracted an average of 213,808 barrels per day (BPD) during September of 2021, which represented a 40.19% increase against last year's figures.

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• Monday, January 4th 2021 - 04:55 UTC

  Opec meeting via videoconference to decide on February production level

  

  Members of the Opec group of oil producers and their partners will meet via videoconference next Monday to decide on production levels for February, hoping to turn the corner on a difficult year. The Opec+ ministerial meeting comes after oil consumption tanked in 2020 due to the Covid-19 pandemic and a price war between Saudi Arabia and Russia.

• Wednesday, May 13th 2020 - 07:46 UTC

  Guyana's second offshore facility FPSO on schedule for first oil in 2022

  

  Liza Unity, an under-construction FPSO that will be Guyana's second offshore facility in production, remains on schedule for first oil in 2022, Hess Corp. announced. Guyana became an oil-producing nation in December 2019, when Exxon brought online the Liza Destiny FPSO.

• Tuesday, May 12th 2020 - 07:46 UTC

  Saudi Arabia to cut oil production to a decade record low of 7,5 million bpd

  

  Saudi Arabia said on Monday it had asked oil giant Aramco to cut an additional one million barrels per day from June, to support prices that have crashed during the coronavirus crisis.

• Saturday, April 11th 2020 - 10:18 UTC

  YPF slashes oil production 50% as consumption slumps and depots are overflowing

  

  Argentina’s state-held energy firm YPF slashed by 50% the oil production from its key development area in the vast Vaca Muerta shale play this week due to tumbling fuel demand in Argentina’s lockdown, local news outlet Rio Negro reports.

• Friday, January 24th 2020 - 08:44 UTC

  Record oil production in Brazil during 2019

  

  By Irina Slav for Oilprice.com – Brazil produced more than 1 billion barrels last year, the first time it has breached the 1-billion-barrel mark, according to reports from the country’s oil regulator, ANP. The daily average stood at 3.106 million bpd, up 7.78% on 2018, ANP also said.

• Thursday, December 26th 2019 - 11:49 UTC

  Saudi Arabia and Kuwait agree to resume oil production in the shared Neutral Zone

  

  Saudi ARAMCO said on Wednesday a new agreement between Saudi Arabia and Kuwait paves the way for the resumption of oil production in the Neutral (partitioned) Zone shared by the two countries.

• Thursday, November 7th 2019 - 09:43 UTC

  Brazil's oil fields auction falls well short of expectations: US$ 17bn instead of US$ 26bn targeted

  

  Brazil's auction of drilling rights to four deep-sea oil fields raised a disappointing US$17 billion on Wednesday, officials said, well short of expectations for the highly-anticipated mega sale.

• Saturday, May 11th 2019 - 08:31 UTC

  YPF focusing on shale oil to increase production growth

  

  YPF, the largest oil and natural gas producer in Argentina, is focusing on shale oil for production growth as a glut slows natural gas output, managers at the state-backed company said Friday.

• Monday, May 6th 2019 - 09:30 UTC

  Petrobras oil production fell 3.5% during the first quarter compared to a year ago

  

  Petrobras oil production fell 3.5% in the first quarter from the same period a year before, according to Brazil’s oil regulator ANP, which attributed the fall to a number of scheduled and unscheduled stoppages.