Oil Prices Extend Losses After Saudi Pledge
Oil prices retreated about 2% on Wednesday, extending the previous day's declines after Saudi Arabia said it would quickly restore full production following last weekend's attacks on its facilities and as U.S. crude stockpiles rose unexpectedly.Tension in the Middle East remained elevated, however, after the Saudi Defence Ministry held a news conference, displaying drone and missile debris it said was "undeniable" evidence of Iranian aggression. U.S. President Donald Trump on Wednesday said he ordered a major increase in sanctions on Iran in the latest U.S.
Petrobras March Production Dips
Petrobras reports that, in March its total production of oil and gas, including natural gas liquids (NGL), was 2.66 million barrels of oil equivalent per day (boed), with 2.56 million boed produced in Brazil and 99 thousand boed produced abroad. Total production operated by the company (Petrobras and partners’ share) was 3.31 million boed, with 3.17 million boed in Brazil. The average oil production in the country was 2.07 million barrels per day (bpd), 0.8% lower than the volume produced in February.
Venezuela's Crude Sales to U.S. Falls to 15-year Low in February
Venezuela's crude exports to the United States declined in February to a 15-year low as oil production continues falling and President Donald Trump's administration weighs new sanctions on the OPEC country, according to Thomson Reuters data. Financial sanctions imposed by the United States in August on Venezuela and state-run oil firm PDVSA have created obstacles for selling crude cargoes to U.S. refiners, shrinking the number of customers PDVSA has in the U.S.
Oil Falls on Production Cut Skepticism, OPEC and Russia Output Rise
Oil prices on Tuesday fell for the first session since OPEC agreed to cut output last week after data showed crude production rose in most major export regions and on growing skepticism that the cartel would be able to reduce production. After rising over 15 percent over the four sessions since the Nov. 30 OPEC meeting, Brent futures were down $1.25, or 2.3 percent, to $53.69 a barrel at 10:13 a.m. EST (1513 GMT). U.S. crude fell $1.36, or 2.6 percent, to $50.43 a barrel. The Brent front-month has outperformed the U.S.
Petrobras' October Production Down
Petrobras announces that its total oil and natural gas production in October was 2.81 million barrels of oil equivalent per day (boed), of which 2.68 million boed produced in Brazil and 0.12 million boed abroad. Average oil production in the country was 2.19 million barrels per day (bpd), a 2% drop in the company's production compared to September, when there was a production record. This output was mainly due to maintenance shutdowns on FPSOs Cidade Anchieta and Capixaba, both at Parque das Baleias, and FPSO Cidade Angra dos Reis, in Lula.
Chesapeake Energy Expects Higher Output in 2017, 2018
U.S. natural gas producer Chesapeake Energy Corp reported a surprise adjusted profit, helped by lower expenses, and said it expects to exit the next two years at higher production rates. Shares of Chesapeake, which also kept its 2017 budget nearly unchanged, rose as much as 9 percent to $5.80 on Thursday. Decreased costs for oilfield services and more efficient drilling processes are helping oil producers extract more barrels of oil, without having to spend more.
Petrobras July Output Flat
Petrobras announces that its total production of oil and natural gas in July was of 2.89 million barrels of equivalent oil per day (boed), at the same level as the previous month, which was of 2.90 million boed. Of this total, 2.70 million boed were produced in Brazil and 0.19 million boed were produced abroad. The average oil production in July was of 2.29 million barrels per day (bpd), in line with the previous month, which was of 2.30 million bpd. Of this total, 2.20 million bpd were produced in Brazil and 0.09 million bpd were produced abroad.
New Refinery Capacity to Cut Oman Crude Oil Exports
Oman's crude oil exports will drop by about 50,000 barrels per day when new refining capacity comes onstream in the northern city of Sohar by early 2017, Minister of Oil and Gas Mohammad bin Hamad al-Rumhy said on Wednesday. Rumhy said the refinery project had been due to be commissioned by the end of 2016, but there had been a delay so the commissioning date would be in the first quarter of next year. The project would increase the Sohar refinery's capacity by between 65 and 70 percent. "It will take an additional 70 to 90,000 bpd.
Petrobras' Oil Production Up
Petrobras informs that its total production of oil and natural gas in April was 2.69 million barrels of oil equivalent per day (boed), of which 2.50 million boed were produced in Brazil and 190,000 boed in Foreign coutries. The average oil production in April was 2.12 million barrels per day (bpd), 5% above the volume produced in the previous month, which was 2.02 million bpd. In this production, 2.03 million bpd were produced in Brazil and 89,000 bpd abroad. The…
Petrobras Maintains 1 mln bpd Production
The production of oil and natural gas operated by Petrobras in the pre-salt layer remained above 1 million barrels of oil equivalent per day (boed) in September, with an average production of 1.028 million boed, having reached the time high of 1.12 million boed the 15th of this month. The same day, 15 September, the new daily record of operated oil production in the pre-salt is also set, with 901,000 barrels per day (bpd). Throughout the month of September, the average oil production operated in the pre-salt stood at 828,000 bpd.
Higher Production by Petrobras in March
Petrobras production of oil and natural gas in Brazil and abroad, in March 2015, was 2 million 764 thousand barrels of oil equivalent per day (boe). Of these, 2 million 574 thousand boe were produced in Brazil and 189,900 boe abroad. The production of 2 million 764 thousand barrels of oil equivalent per day (boe) is 8.3% higher than the volume produced in March 2014 2,000,000 551,000 boed. Total production of oil and natural gas in Brazil, in March, was 2 million 574 thousand boed…
Petrobras Reports Record Production
Total production of oil and natural gas from Petrobras, in December 2014, in Brazil and abroad, reached the average of 2 million 863 thousand barrels of oil equivalent per day, the best result reached in the history of the company, Petrobras reported. This volume is 4.4% higher than in November, which was 2 million 741 thousand boe. The company beat, too, in December, its record oil and liquid natural gas in Brazil, reaching a monthly average of 2 million 212 thousand barrels of oil per day (bpd).
