Crude oil output from the Organization of the Petroleum Exporting Countries (OPEC) rose to 30.87 million barrels per day (bpd) in January from 30.83 million bpd in December. This leaves the organization overproducing its brand new production ceiling…
Iraq’s Majnoon oilfield, operated with Royal Dutch Shell, should be ready to produce 175,000 barrels per day (bpd) by the end of 2012, an output level that triggers cost recovery and service fee payments, a senior company official said on Tuesday.
Iraq aims to boost oil exports by up to 400,000 barrels per day over the next two months as it opens the taps at a new Gulf outlet, a senior Iraqi oil industry source said on Tuesday, signaling the world’s biggest capacity expansion this year.
Iraq’s oil exports averaged 2.165 million barrels per day last year at an average price of $104.90 per barrel, the head of the State Oil Marketing Organisation said on Sunday.
Iraq is planning to increase production by around 10 percent or about 130,000 barrels per day (bpd) at the giant Rumaila oilfield in 2012, its general manager told a London conference on Thursday.