IRANIAN OIL: 3 MBD
SHANA - Iran said that it has plans to increase its crude oil production capacity by 3 million barrels per day.
Deputy Head of the National Iranian Oil Company (NIOC) for Engineering and Development Affairs Gholam-Reza Manouchehri said the boost is aimed at promoting and stabilizing the country's footing in the Organization of Petroleum Exporting Countries (OPEC) and the global market.
Speaking on the sidelines of the 22nd Iran International Oil, Gas, Refining and Petrochemical Exhibition (Iran Oil Show-2017), the official said NIOC has so far inked 24 memoranda of understanding (MoU's) with domestic and international companies for developing oil and gas projects in Iran since January 2016.
In January 2016, the landmark nuclear deal between Iran and the P5+1 group of countries over the former's nuclear program was implemented. Also known as the Joint Comprehensive Plan of Action (JCPOA), the deal opened up Iran to avid international companies seeking to win a share in the country's massive market.
NIOC signed an MoU with the Philippines' PNOC EC for carrying out studies over Iran's Pazanan and phase III of Darkhowin oilfields.
Manouchehri also said NIOC is mulling signature of contracts with a total value of $80b within the next two years with domestic and international contractors.
|October, 23, 11:45:00|
|October, 23, 11:40:00|
|October, 23, 11:35:00|
|October, 23, 11:30:00|
|October, 23, 11:25:00|
|October, 23, 11:20:00|
Libya’s oil production increased steeply to the current level of 850,000 b/d from a low point in August 2016 of below 300,000 b/d. Production surpassed 1 million b/d in July.
- Revenue of $7.9 billion increased 6% sequentially - Pretax operating income of $1.1 billion increased 11% sequentially - GAAP EPS, including Cameron integration-related charges of $0.03 per share, was $0.39 - EPS, excluding Cameron integration-related charges, was $0.42 - Cash flow from operations was $1.9 billion; free cash flow was $1.1 billion
“The combination of GE Oil & Gas and Baker Hughes closed on July 3, and we are pleased with our progress during our first operating quarter. Despite the continuing challenging environment, we delivered solid orders growth and secured important wins from customers, advanced existing projects and enhanced our technology offerings in the quarter. We also achieved key integration milestones and made significant progress working as a combined company. I am now more convinced than ever that we combined the right companies at the right time,” said Lorenzo Simonelli, BHGE chairman and chief executive officer.
U.S. Rig Count is up 360 rigs from last year's count of 553, with oil rigs up 293, gas rigs up 69, and miscellaneous rigs down 2 to 2. Canada Rig Count is up 59 rigs from last year's count of 143, with oil rigs up 38 and gas rigs up 21.