Production News for Middle East


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Iraq Aims To Double Kirkuk Oil Output Capacity To More Than 1 MMbpd
Tuesday, October 17, 2017 Iraq plans to contract a foreign oil company to almost double the oil production capacity of the northern Kirkuk fields.

Iraqi Forces Seize Oil City Kirkuk From Kurds In Bold Advance
Monday, October 16, 2017 Iraqi government forces captured the major Kurdish-held oil city of Kirkuk, responding to a Kurdish referendum on independence.

OPEC Is Said to See Oil Inventory Glut Finally Gone in One Year
Thursday, October 12, 2017 OPEC expects its efforts to clear the surplus in oil inventories to finally succeed by the end of the third quarter of next year, say people familiar with the group's internal forecasts.

OPEC Again Raises Demand Forecast For Its Oil, Points To 2018 Deficit
Wednesday, October 11, 2017 OPEC forecast higher demand for its oil in 2018 and said its production-cutting deal with rival producers was getting rid of a glut.

How Deep Will Saudi Cut Its Oil Output? To the Lowest Since 2015
Tuesday, October 10, 2017 Saudi Arabia has promised to do 'whatever it takes' to end the global oil gut.

Iraq's Talks with Exxon on Southern Oilfields in Final Stages-Minister
Monday, October 09, 2017 Iraq's talks with Exxon Mobil to develop a multi-billion-dollar project to boost output from several southern oilfields are nearing completion, oil minister Jabar al-Luaibi said on Monday.

Iraq Hopes To Resume Production From Nineveh Oil Fields In Coming Months
Tuesday, October 03, 2017 Iraq Hopes To Resume Production From Nineveh Oil Fields In Coming Months

Fault at Israel's Tamar Gas Field Prompts Use of Dirtier Fuels
Friday, September 22, 2017 A fault in the supply of natural gas from Israel's only commercial field has forced Energy Minister Yuval Steinitz to authorize the use of alternative fuel sources to produce electricity.

Iraq's Kurds Seek Independence: What Impact for Oil Markets?
Thursday, September 21, 2017 At stake are the petrodollars that have helped sustain the Kurdish Regional Government's semi-autonomous rule after a budgetary deal with the federal government fell apart.

Shell Set To Draw Line Under A Century Of Iraqi Oil
Wednesday, September 13, 2017 Shell is set to end a century of oil production in Iraq by withdrawing from two of the Arab state's flagship fields to focus on more profitable gas development.

OPEC Expects Laggards To Comply More Fully With Oil Cut Pact
Tuesday, August 08, 2017 OPEC expects greater adherence to its pact with non-OPEC producers to cut oil output after two days of meetings in Abu Dhabi aimed at boosting compliance with the accord.

Iraq's Kirkuk Province Spurns Plan to Ship Its Oil to Iran
Thursday, August 03, 2017 Kirkuk refuses to cooperate with any plans to ship its oil to neighboring Iran because the central government didn't consult with it on the matter, Kirkuk provincial officials said.

Fars News Agency: Maersk Sees Up To 140,000 Bpd Potential For Iran Field
Tuesday, August 01, 2017 Maersk Oil has estimated potential output for the second phase of Iran's South Pars oil deposit at 120,000-140,000 barrels of oil per day, Fars News Agency reports.

OPEC Oil Output Jumps To 2017 High On Further Libya Recovery
Monday, July 31, 2017 OPEC oil output has risen this month by 90,000 barrels per day to a 2017 high, a Reuters survey finds.

UAE Pledges Further Oil Output Cuts Starting in September
Tuesday, July 25, 2017 The United Arab Emirates reiterated its commitment to the OPEC agreement on production cuts and said it would deepen its own curbs.

Saudi's Manifa Oilfield Producing, Not Affected By Technical Issue
Thursday, July 20, 2017 Saudi Aramco's Manifa oilfield, one of its largest, is producing and has not been affected by any technical issue, an industry source told Reuters.

OPEC Just Lost a Kitten From Its Unruly Herd of Cats: Gadfly
Tuesday, July 18, 2017 Saudi Arabia is having problems herding cats.

Libya's Humanitarian Situation Must Be Factor In Talk Of Curbing Oil Output
Monday, July 10, 2017 Libya's political, humanitarian and economic problems must be considered in any discussions about capping the country's rising oil production.

Saudi Aramco Says Oil Reserves Steady, Output At Record Ahead Of IPO
Thursday, July 06, 2017 Saudi Aramco says its crude oil and condensate reserves held steady last year despite record production.

Qatar Plans To Boost Gas Output Capacity Amid Gulf Rift
Tuesday, July 04, 2017 Qatar Petroleum plans to boost gas production from its giant North Field, which it shares with Iran, by 20% after new gas development.

UAE Energy Minister Says No Talk About Further OPEC Supply Cuts
Thursday, June 29, 2017 There is no talk of further oil output cuts by the Organization of the Petroleum Exporting Countries and its allies.

Iraq's Oil Exports In June Near May Level, Oil Minister Says
Thursday, June 22, 2017 Iraq's oil exports from fields owned by the central government in Baghdad are at around the same level as in May.

Libya's Oil Output Rises To 885,000 Bpd Following Wintershall Deal
Monday, June 19, 2017 Libya's oil production has risen by over 50,000 barrels per day (bpd) to 885,000 bpd after the state oil firm settled a dispute with Germany's Wintershall.

WoodMac: Iraq's 2017 Target for Oil Expansion Within Reach
Thursday, June 15, 2017 Iraq's ambition to boost oil-output capacity to a record is "not unrealistic" as the country prepares for the end of OPEC-mandated supply limits, consultants Wood Mackenzie say.

Genel Says Taq Taq Field Output Fall Is Slowing
Tuesday, June 06, 2017 Genel Energy's main Taq Taq oil field in Iraqi Kurdistan has seen falling output in 2017 but the rate of decline has slowed recently.

Report: Technical, Political, Security Factors Subdue Iraq Output Growth
Wednesday, May 31, 2017 Why has Iraq's oil production growth under-performed?

OPEC, Non-OPEC Committed To Cutting Inventories To 5-Year Average
Wednesday, May 31, 2017 OPEC and non-OPEC countries are committed to bringing global oil inventories down to the industry's 5-year average.

Total CEO Says OPEC Cut Decision Gives Visibility Until At Least 2018
Friday, May 26, 2017 The decision by oil producing countries to extend the production cut agreement by 9 months gives the market much needed visibility until at least 2018.

GE's Saudi Joint Venture To Start Gas Turbine Production This Year
Thursday, May 25, 2017 General Electric's joint venture to manufacture gas turbines in Saudi Arabia will start production by the end of the year.

Iran Has Potential To Increase Oil Production By 3 MMbpd
Monday, May 22, 2017 Iran has the potential to increase oil production by 3 million barrels per day, according to an Iranian oil official.

OPEC Panel Looking At Deepening, Extending Oil Cuts
Friday, May 19, 2017 An OPEC panel reviewing scenarios for the oil producer group's meeting next week is looking at the option of deepening and extending a deal to reduce crude output.

Oil Producers in Consensus to Extend Cuts, OPEC Members Say
Thursday, May 11, 2017 OPEC and other oil producers taking part in output cuts have reached a consensus to extend the limits until the end of the year, oil ministers for two of the group's members said.

OPEC Wants Further Drop In Oil Stocks, Is Working For Consensus
Thursday, April 27, 2017 OPEC wants oil inventories to decline further and is working to ensure a policy-setting meeting in May.

OPEC Ministers to Meet Russia Amid Push to Extend Cuts
Wednesday, April 26, 2017 The energy ministers of OPEC members Saudi Arabia and Venezuela plan to meet their Russian counterpart to discuss extending oil-output cuts.

Iraq Begins Final Expansion Phase At Halfaya Aiming To Double Output
Tuesday, April 25, 2017 Iraq launches the 3rd and final phase of work to expand its southern Halfaya oil field, aiming to double its output capacity in 2018 to 400,000 barrels per day.

Azeri, Saudi Energy Ministers To Discuss Extension Of Oil Output Cuts
Tuesday, April 25, 2017 Azerbaijan's energy minister, Natig Aliyev, says he will discuss a possible extension of the global oil output cut deal at a meeting with his Saudi counterpart on Wednesday.

Iran Boosts Gas-Output Capacity With New Projects at Giant Field
Monday, April 17, 2017 Iran boosts output by inaugurating six projects at the giant South Pars offshore field.

Saudi Retains Top Oil Supplier To China Despite YOY Drop
Thursday, March 23, 2017 Saudi Arabia maintains its spot as China's top oil supplier in February, 2 months into the first OPEC output cuts in almost a decade.

Saudi Says Oil-Supply Cuts May Be Extended If Necessary
Thursday, March 16, 2017 OPEC and its allies may prolong production cuts after they expire in June if the world's crude inventories remain excessive, Saudi Arabia's Energy Minister said.

Iraq Plans to Boost Crude Oil Production and Exports This Year
Wednesday, March 15, 2017 Iraq pumped 4.57 million barrels a day of oil in February and plans to boost output later in the year.

UAE Says To Cut Oil Output By More Than 139,000 Bpd In March/April
Thursday, March 09, 2017 The UAE will comply fully with its OPEC commitment to reduce oil production by more than 139,000 bpd in March and April.

Oil Ministry: Iraq Exports 3.32 MMbpd Oil In Jan, 3.269 MMbpd In Feb.
Thursday, March 09, 2017 Iraq's daily oil exports stood at 3.269 million barrels per day in February and 3.320 million bpd in January, the oil ministry says.

Russia's Gazprom Neft Says Launches 3 New Oil Wells In Iraq
Thursday, March 09, 2017 Russian oil firm Gazprom Neft launches 3 new wells at the Badra oil field in Iraq.

Iraq Announces Increase In Kirkuk Oil Refinery Capacity
Wednesday, March 08, 2017 Iraq adds a processing unit to the Kirkuk oil refinery, increasing the plant's capacity by 10,000 barrels per day.

OPEC Crude Export Average Rises in February
Tuesday, March 07, 2017 OPEC crude exports average 25.32 million barrels per day (bpd) in February, 1.72 million bpd higher compared to January levels, according to the latest research and forecasts report from Reuters.

Oil Pumping From Iraq's Kirkuk Fields Stops Amid Search For Explosives
Thursday, March 02, 2017 Oil pumping from Iraq's northern Kirkuk fields stops after Kurdish forces were deployed to search for explosives said to have been planted by Islamic State.

Russia's Rosneft, Libya's NOC Sign Oil Offtake Deal
Tuesday, February 21, 2017 Libya's National Oil Corporation (NOC) signs a crude oil offtake agreement with Russia's Rosneft as it looks to encourage foreign investment and bolster Libyan output.

Iraq's Oil Reserves Increase To 153 Billion Barrels, Oil Minister Says
Monday, February 20, 2017 Iraq's oil reserves increase to 153 billion barrels, from a previous estimate of 143 billion barrels, Oil Minister Jabar al-Luaibi says.

Iraq Plans To Acquire 'Large Fleet' Of Oil Tankers
Friday, February 17, 2017 Iraq plans to acquire a "large fleet" of oil tankers to transport the OPEC nation's crude to global markets, Oil Minister Jabar al-Luaibi says.

Egypt Hopes To Reach Gas Market Balance In 2018, To Export By 2020
Wednesday, February 15, 2017 Egypt hopes its gas market will be balanced in 2018 and expects to begin exporting gas by 2020.

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