Production News for Europe & Russia


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Spirit Energy Brings Oda Online
Tuesday, March 19, 2019 Spirit Energy has started oil production on the Oda field almost 5 months earlier than originally planned.

US to Drive Oil Supply Growth to 2024
Monday, March 11, 2019 The United States will drive global oil supply growth over the next 5 years, according to the IEA.

OPEC Output Slides Again
Friday, March 01, 2019 OPEC's crude production slumped again last month as the cartel implemented planned cutbacks in full and some members were hit by U.S. sanctions.

Exxon Boosts Reserves by 4.5B Barrels
Wednesday, February 27, 2019 Exxon Mobil Corporation added 4.5 billion oil-equivalent barrels of proved oil and gas reserves in 2018, replacing 313 percent of the year's production.

Norwegian Production Decreases
Wednesday, February 20, 2019 Norwegian output decreased from December to January, according to the Norwegian Petroleum Directorate's latest preliminary figures.

Shell's GHG Targets Reflect Key Realization
Monday, February 18, 2019 Shell has set targets to reduce greenhouse-gas emissions from its operations and the products it sells.

OPEC Chief Urges Producers to Meet Cut Pledges
Wednesday, February 13, 2019 OPEC's top official urged countries in the group and its allies to follow through on their pledges to cut oil production and keep global markets balanced.

US Oil and Gas Production to Outpace Russia and Saudi Arabia by 2025
Friday, January 25, 2019 Recent analysis by Rystad Energy forecasts the US to exceed Russia and Saudi Arabia's combined liquid production in six years.

Norway Cuts Production Forecast to Lowest in 30 Years
Thursday, January 10, 2019 Norway's oil regulator reduced its forecast for production this year.

OPEC Output Falls Most in Almost 2 Years
Wednesday, January 02, 2019 Before its agreement to cut oil supplies even started, OPEC's production plunged by the most in almost two years last month.

Russia's Oil Output Reaches Record Levels in 2018
Wednesday, January 02, 2019 Russia's oil production reached a post-Soviet high last year even as it coordinated supply with the Organization of Petroleum Exporting Countries.

NCS Field Comes Online
Monday, December 17, 2018 Production has started from the Aasta Hansteen gas field in the Norwegian Sea.

OPEC Expected to Cut Oil Output
Wednesday, November 28, 2018 OPEC and its allies will announce production cuts to check a slump in oil prices when they meet next week, according to a Bloomberg survey.

OPEC+ Said to Weigh Bigger Production Cut
Thursday, November 15, 2018 OPEC+ is considering cutting oil output by more than the 1 million barrels a day Saudi Arabia proposed earlier this week, according to people familiar with the matter.

NOPEC to Take Gloves Off, Production Cuts In 2019?
Wednesday, November 14, 2018 OPEC, in cooperation with Russia, are currently discussing the option to put another production cut in place.

Saudis See Need for Producers to Cut 1MM Barrels
Monday, November 12, 2018 Saudi Arabia expresses the need for oil producers to cut 1 million barrels a day from October levels.

Total Gets Nod to Extend Skirne and Byggve Lifespan
Tuesday, October 30, 2018 Total E&P Norge gets consent to extend the operational life of Skirne and Byggve to March 2024.

OPEC Could Cut Production in 2019
Thursday, October 25, 2018 OPEC signaled it could cut output in 2019 due to concerns about rising oil inventories and economic uncertainty.

OPEC in Maximum Production Mode
Tuesday, October 23, 2018 Saudi Arabia says OPEC and allies are in a 'produce as much as you can mode'.

IEA Urges OPEC to Open Taps as Oil Markets Enter 'Red Zone'
Tuesday, October 09, 2018 The International Energy Agency made a direct appeal to OPEC and other major oil producers to boost output.

OPEC Output Edges Higher
Tuesday, October 02, 2018 OPEC production rose last month as deepening losses in Iran due to looming US sanctions were countered by other members.

PDO for $1.2B Nova Project Gets Green Light
Monday, October 01, 2018 Wintershall Norge reveals that the plan for development and operation for the Nova project has been approved by Norway's Ministry of Petroleum and Energy.

Russia Oil Output Is Said to Hit New Highs Before OPEC Talks
Thursday, September 20, 2018 Russia's crude production has jumped to a new post-Soviet record, boosting the nation's budget revenue as it prepares for talks with OPEC+ on further cooperation, according to a government official.

Gazprom Neft Joins Forces with CNPC to Develop EOR Tech
Thursday, September 13, 2018 Gazprom Neft announces that it has joined forces with China National Petroleum Corporation to develop enhanced oil recovery technologies.

Neptune Field in Russia Sees 1.6-Fold Reserves Increase
Tuesday, September 11, 2018 Russia's Federal Agency for Mineral Resources has confirmed hydrocarbon reserves at Gazprom Neft's Neptune field at 415.8 million tons of oil, the company announces Tuesday.

OPEC's Barkindo: Oil Demand To Hit 100 MMbpd Sooner Than Projected
Wednesday, September 05, 2018 World oil consumption will reach 100 million barrels per day later this year, hitting that level much sooner than previously forecast, OPEC's Barkindo says.

Reuters Survey: OPEC August Oil Output Hits 2018 High Despite Iran Losses
Friday, August 31, 2018 OPEC oil output has risen this month to a 2018 high as Libyan production recovered and Iraq's southern exports hit a record, a Reuters survey found.

OPEC+ Committee: Oil Producers Cut July Output By 9% More Than Agreed
Monday, August 27, 2018 An OPEC and non-OPEC monitoring committee found that oil producers participating in a supply-reduction agreement cut output in July by 9% more than called for in their pact, sources say.

Saudi Cuts Oil Output As OPEC Points To 2019 Surplus
Monday, August 13, 2018 OPEC forecast lower demand for its crude next year as rivals pump more and said top oil exporter Saudi Arabia, eager to avoid a return of oversupply, had cut production.

OPEC Oil Output Climbs as Saudi Arabia Pumps Near Record
Thursday, August 02, 2018 OPEC's crude output increased last month as Saudi Arabia pumped near-record volumes.

Reuters Survey: OPEC July Oil Output Hits 2018 Peak, But Outages Weigh
Monday, July 30, 2018 OPEC oil output has risen this month to a 2018 high as Gulf members pumped more after a deal to ease supply curbs and Congo Republic joined the group, a Reuters survey found.

Aker BP Says Norway Strike Would Have To Last Month To Hit Output
Friday, July 13, 2018 A 4-day oil workers strike in Norway that may escalate on Monday would have to last a month to impact Aker BP's production from the Valhall field in the North Sea, the Norwegian energy company says.

NPD: Troll Production Expected to Continue until 'Around 2060'
Tuesday, July 03, 2018 Production from the Troll field is expected to continue until around 2060, the Norwegian Petroleum Directorate (NPD) says.

Norway's Equinor Submits $955 Mln Phase 3 Development Plan For Troll Field
Tuesday, July 03, 2018 Norwegian oil and gas firm Equinor submits a $954.46 million plan to develop gas reserves in the western part of its Troll field.

Groningen Gas Output Falling Faster Than Planned
Wednesday, June 27, 2018 Production at the Groningen natural gas field will be lower than originally envisaged this year.

Saudi Aramco CEO Says Has 2 Million Barrels Per Day Of Spare Capacity
Monday, June 25, 2018 Oil giant Saudi Aramco says it has a spare capacity of 2 million barrels per day and can meet additional oil demand in case of any interruption in supplies.

Norway's Oil Production Falls To Six-Year Low In May
Tuesday, June 19, 2018 Norway's monthly oil output fell to a six-year low in May.

Russia Is Said to Seek Oil-Cuts Rollback for Most OPEC Nations
Tuesday, June 12, 2018 Russia plans to propose that OPEC and its allies be allowed to return production to October 2016 levels.

Russia Said to Boost Oil Output as Commitment to OPEC Cuts Wanes
Monday, June 11, 2018 Russia is showing signs of weakening its commitment to oil-supply cuts as production rises before crucial talks with OPEC about the future of the agreement.

Possible To Reduce Groningen Gas Output Faster - Dutch Minister
Thursday, June 07, 2018 Production at the Groningen natural gas field could be reduced faster than planned.

Spain's Repsol To Boost Production, Hike Dividend In 2020
Wednesday, June 06, 2018 Spanish oil major Repsol expects to increase production to 750,000 barrels per day in 2020 and raise its dividend to $1.2 per share over the next two years.

Sources: US Asks OPEC Producers To Pump More Oil, No Specific Figure
Tuesday, June 05, 2018 The US government has unofficially asked Saudi Arabia and some other OPEC producers to raise oil output.

Rosneft Seen Quickly Recovering Output Once OPEC Deal Curbs Eased - Analyst
Friday, June 01, 2018 Russia's largest oil producer Rosneft has been able to recover its oil production of 70,000 barrels per day in just two days, Renaissance Capital wrote in a client note.

Equinor's Troll C Gas Module Expected To Start In Q3 2019
Thursday, May 24, 2018 A new gas module on the Equinor-operated Troll C platform is expected to start production in the third quarter of 2019.

Premier Oil Says Debt Reduction On Track As Output Grows
Wednesday, May 16, 2018 Premier Oil says it is heading for a 'material' reduction of its $2.7 billion debt pile, with its Catcher field ramp-up reaching a promised 60,000 barrels per day.

Norwegian Production Drops in April
Wednesday, May 16, 2018 Norwegian production drops month-on-month in April, according to preliminary output figures released by the Norwegian Petroleum Directorate.

OPEC's Reason for Sticking With Cuts Rests on Shaky Ground
Wednesday, May 02, 2018 OPEC and Russia seem determined to keep on cutting production even after their campaign to rebalance world oil markets achieved its main target.

Total Output Hits Record High As Prices Buoy Profits
Thursday, April 26, 2018 Total reports record high quarterly oil and gas output while beating profit forecasts helped by higher prices.

Shell Writes Off Groningen Gas Field On Dutch Phase-Out
Thursday, April 26, 2018 Shell says it would write down its reserves in the Groningen gas field.

Trump's Revenge: US Oil Floods Europe, Hurting OPEC and Russia
Monday, April 23, 2018 U.S. oil is even edging out North Sea Forties, which is produced in the backyard of the continent's refineries.

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