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2017-09-11 12:30:00

IRANIAN OIL WILL UP

IRANIAN OIL WILL UP

SHANA - Iran says its crude oil production will reach 4.5 million barrels per day in a matter of a few years, end of the 6th five-year development plan to 2022.

Ali Kardor, managing director of National Iranian Oil Company (NIOC), said Iran will reach an oil production rate of 4.5 million barrels per day (bpd) within five years.

Currently, Iran's output stands at around 3.8 mbd.

Iranian gas production will reach 1.3 billion cubic meters per day and production of gas condensate will reach 864,000 bpd in the next five years, Kardor said.

The boost in oil production will come from an increase of 420,000 bpd from the West Karoun oil field and an additional 280,000 bps from oil fields in central and southern Iran as well as the Iranian Offshore Oil Company (IOOC), Mr. Kardor said.

Oil exports are expected to reach up to 2.5 million bpd within five years, Kardor added.

The increase in gas production is expected to come from South Pars, the world's largest gas field, according to Kardor.

The official also said that production of liquefied petroleum gas (LPG) will increase to 10.5 million tons/year and ethane output of the country will grow to 8.8 mt/y.

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Earlier:

 

IRANIAN OIL EXPORT: 2.6 MBD

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2017-08-29
 

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2017-05-31
 

IRANIAN REVENUE: $191 BLN

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2017-05-12
 

IRANIAN OIL: $80 BLN

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Tags: IRAN, OIL, PRODUCTION

Chronicle:

IRANIAN OIL WILL UP
October, 23, 11:15:00

LIBYAN OIL PRODUCTION 1 MBD

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.

IRANIAN OIL WILL UP
October, 23, 11:10:00

SCHLUMBERGER NET INCOME $545 MLN

- 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

IRANIAN OIL WILL UP
October, 23, 11:05:00

BAKER HUGHES NET LOSS $104 BLN

“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.

IRANIAN OIL WILL UP
October, 23, 11:00:00

U.S. RIGS DOWN 15 TO 913

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.

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