Iraq reaped $3.744 billion from oil exports in July, Oil Ministry spokesman Asim Jihad said in a statement. He said average production for the month was over 3.202 million bpd.
The Bangka project, majority owned by Chevron, will start operation in August, Wiratmaja Puja, the director general of oil and gas at Indonesia's Energy Ministry, told Reuters in an interview. Italian oil firm Eni's Jangkrik project is 80 percent complete and is expected to commence operation in July 2017, he said.
U.S. Rig Count is up 1 rig from last week to 463, with oil rigs up 3 to 374, gas rigs down 2 to 86, and miscellaneous rigs unchanged at 3. Canadian Rig Count is up 17 rigs from last week to 119, with oil rigs up 12 to 60, gas rigs up 5 to 58, and miscellaneous rigs unchanged at 1.
Statoil ASA (OSE:STL, NYSE:STO) and Petróleo Brasileiro S.A. - Petrobras (“Petrobras”) (BVMF: PETR4, NYSE:PBR) have agreed that Statoil will acquire Petrobras’ 66% operated interest of the BM-S-8 offshore licence in Brazil’s highly prolific Santos basin. The acquisition includes a substantial part of the Carcará oil discovery, one of the largest discoveries in the world in recent years.
“Advances like the Bay of Bengal discovery will help unlock the global energy resource potential of gas hydrates as well help define the technology needed to safely produce them,” said Walter Guidroz, USGS Energy Resources Program coordinator.
"We recognise that market conditions are currently very difficult but nevertheless we have a shared goal of making the basin as attractive as possible for exploration," Andy Samuel, chief executive of the OGA, said.
Объёмы добычи нефти за первое полугодие составили 270 миллионов тонн – это на 2,1 процента выше по отношению к прошлому полугодию. «По газу мы увеличили объёмы экспорта в первом полугодии по сравнению с прошлым годом примерно на шесть миллиардов кубических метров, или на 6,8 процента. По нефти прирост составил 6,2 процента, по углю – 8,2 процента. В этом году впервые общий объём экспорта угля на восток превысил западное направление», - доложил Министр.
The Philippines relies overwhelmingly on imports to fuel its fast-growing economy. That reliance will grow further in a few years when the main source of domestic natural gas runs out, so the clock is ticking for it to develop offshore fields that China shows no sign of loosening its grip on.
U.S. Rig Count is up 15 rigs from last week to 462, with oil rigs up 14 to 371, gas rigs down 1 to 88, and miscellaneous rigs up 2 to 3. Canadian Rig Count is up 7 rigs from last week to 102, with oil rigs up 4 to 48, gas rigs up 3 to 53, and miscellaneous rigs unchanged at 1.
Higher and more stable crude oil prices are contributing to increased drilling in the United States, which may slow the pace of production declines. Benchmark West Texas Intermediate (WTI) crude oil prices averaged $46.59 per barrel (b) over the last three weeks, a 40% increase over the average price in the first quarter.