British energy company BP has given the green light to its sixth oilfield, Kaskida, in the Gulf of Mexico, in the United States, with oil production set to begin in 2029. The new facility will feature a floating production platform capable of producing 80,000 barrels of crude oil a day from six wells in the … Read more
Washington. U.S. oil manufacturing and world demand for crude oil will develop this yr to data larger than anticipated, the Vitality Info Administration (EIA) introduced Tuesday. The company now expects U.S. oil manufacturing to extend by about 310,000 barrels per day (bpd) to 13.24 million bpd this yr, about 40,000 bpd greater than its Could … Read more
Jakarta – Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif asked the public to save energy such as the use of fuel oil (BBM). This is because the availability of petroleum reserves is limited and the global situation is not yet stable. “In order to maintain supply stability, we need to encourage the public … Read more
Bisnis.comJAKARTA — Market oil The world is facing tight supplies towards the end of the year which usually sees a surge in demand. The world’s oil refineries have proven powerless to produce fuel in sufficient quantities, thus opening up opportunities for new inflation and depriving the economy of the fuel that can power industry and … Read more
Jakarta – Saudi Arabia’s decision to extend its 1 million bpd oil production cut through August 2023 could trigger an economic contraction. The economy is expected to shrink by 0.1% to 1% if the policies persist for the rest of 2023. “Saudi cuts can be costly,” said Jean-Michel Lilina, Middle East and North Africa economist … Read more
Last month, OPEC expected growth in global oil demand as a result of easing Chinese restrictions on the zero Covid policy, so that the energy sector would witness an increase in production, in line with the increase in demand, supported by Nigerian supplies. OPEC oil production increased for most of 2022, as global demand levels … Read more
Production of the 19 OPEC members bound by quotas under the oil agreement is down by 50,000 barrels per day — to 38.33 million bpd last month, leaving an estimated 1.77 million bpd gap between alliance supply and its official targets. OPEC production fell by 1.77 million barrels per day below the agreement level A … Read more
04 dec 2022 om 15:39Update: een uur geleden Cartel members of oil-producing OPEC countries are not adjusting their oil production, they announced after a brief meeting on Sunday. It was feared that lower production would lead to higher prices, but that is not the case. However, the price of oil remains difficult to predict. Production … Read more
Jakarta – Relations between the United States (USA) and Saudi Arabia are heating up. This is in the aftermath of the OPEC + oil-exporting country’s reduction plan oil production up to 2 million barrels per day. What are the implications for RI? SKK Migas chief Dwi Soetjipto said the impact of OPEC + production cuts … Read more
Jakarta – Petroleum it is a single of the commodities that play an crucial role in the survival of human lifestyle. In point, processed petroleum goods are used as vehicle gasoline to aid each day human activities. Because of to the preciousness of oil, this commodity is nicknamed “black gold”. Most petroleum is loaded with … Read more