Monday 28 May 2018
 
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crude production

Kuwait oil output to hit 3.2 mbpd by March

Kuwait's oil production capacity will reach 3.255 million bpd by the end of next March, Kuwait's Oil Minister and Minister of Electricity and Water Bakheet Al-Rashidi was quoted as saying in a media report. The volume of K

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Iraq approves $843m Weatherford oil deal

Iraq's cabinet has approved an $843 million service contract with US oilfield services company Weatherford to build crude production units in the Zubair oilfield. Italy’s Eni, US-based Occidental Petroleum Corporation and South Korea’s

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RAK Petroleum posts $15m net profit

RAK Petroleum, the oil and gas exploration and production company, recorded net earnings of Dh56.3 million ($15.3 million) for the year 2010, compared to Dh29.5 million in 2009. “During 2010, the company again posted record production and

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Kuwait sees $90 as new oil price floor

Kuwait would like to see world oil prices decline but does not expect them to fall below $90 a barrel, Farouk al-Zanki, chief executive of state oil company Kuwait Petroleum Corp (KPC), said on Monday. Oil traded above $119 a barrel for Br

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OMV Libya oil output tumbles, shares follow

Austrian oil and gas group OMV said it could be heading for a full production shutdown in Libya as it pulled staff out of the turmoil-hit country and its shares tumbled nearly 8 per cent. The flagship of OMV's growing North Africa busi

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CNPC, Qatar Petroleum planning JV in China

China and Qatar will  strengthen cooperation in the oil and gas industries and the top oil companies of the two countries plan joint venture projects in China, the government said on Thursday. During a meeting between visiting Qatar O

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Iraq's Rumaila 'exceeds production goal'

Production at Iraq's supergiant Rumaila oilfield has exceeded its 10 per cent improved production target, British firm BP, which is developing the field, said on Tuesday. Oil major BP said production had been increased by more than 10

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RAK Petroleum posts Q3 profit of $5m

RAK Petroleum, the oil and gas exploration and production company, has posted a net profit of Dh20 million ($5.44 million) for the third quarter ended September 30, 2010. For the first nine months of 2010, the coompany has recorded a net p

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