Posts Tagged ‘output’

Iran’s daily gas output from South Pars to hit 750mcm in months: Minister

Tasnim – Iranian Oil Minister Bijan Namdar Zanganeh said the country’s extraction of gas from the South Pars gas field would reach 750 million cubic meters per day by the end of the current Iranian calendar year (March 2020). Speaking to reporters on the sidelines of a cabinet session in Tehran on Wednesday, Zanganeh said […]

Oil Prices Plunge On Reports Saudi Output Levels Normalized With 2-3 Weeks

WTI and Brent oil prices are plunging after Reuters headlines, quoting sources briefed on the matter, that Saudi oil output will return to normal quicker than initially thought. WTI  is back down to a $59 handle for now – so not entirely convinced… Brent is down 5% on the news as a “top Saudi source” […]

Iran says it will adopt maximum crude output policy if US lifts sanctions

India Today – Iran will adopt a policy of maximum crude production if the United States lifts sanctions on the country’s oil industry, Iranian Oil Minister Bijan Zanganeh said on Saturday. “Maximum production would be the Iranian Ministry of Petroleum’s policy in case (US) sanctions are eased on Iran’s oil industry,” the ministry’s official news […]

Half Of Saudi Oil Output Shut After Drone Strikes Cripple World’s Largest Oil Processing Facility

update: This via the WSJ in a precursor signalling just how much the price of oil is set to soar when trading reopens late on Sunday: Saudi Arabia is shutting down about half of its oil output after apparently coordinated drone strikes hit Saudi production facilities, people familiar with the matter said, in what Yemen’s Houthi rebels […]

Iran says renewable power output hits over 3.5 TWh

Iran’s Ministry of Energy says production of renewable electricity has hit a record of more than 3.5 terawatt hours (TWh), updating previous reports on the output and detailing the share of various renewable resources. A Wednesday report by the Ministry’s news service Paven said current output generated from renewables across Iran had topped 3.566 […]

Iran eyes three-fold increase in propylene output

Iranian authorities say the output of propylene, a key hydrocarbon derived from oil and gas refining, would increase by more than three times in the new near future. Head of Iran’s National Petrochemical Company said on Monday that production of propylene in the country will hit a record of nearly four million tons a […]

Saudi oil output failed to offset Iran, Venezuela losses in June: Report

A new report has shown that Saudi Arabia’s increased supply to the international oil market has failed to compensate for losses caused by US sanctions on crude export like Iran and Venezuela. Results of a survey by Reuters news agency published Friday showed that a rise in Saudi supply in June came as output […]

Iran exempted from OPEC output cut deal again

MNA – Iranian Minister of Petroleum Bijan Zangeneh said the country was exempted from an agreement among OPEC members to continue capping the producer body’s crude oil output by 0.8 mbd. “Fortunately, amendments were made to the OPEC and Non-OPEC Cooperation Charter, and decisions of this charter are not binding and will not create an […]

Iran oil minister has no problem with output cut, slams ‘unilateralism’

   Iranian Oil Minister Bijan Zanganeh said on Monday he has no problem with output cuts by OPEC, but poured scorn on what he called “unilateralism” among some members of the producer group. “I have no problem with a production cut. The main challenge to OPEC is unilateralism. The members need to discuss and decide […]

Cutting output by even 1 barrel is ‘a red line’ for Iran, oil minister says

CNBC – Iran is refusing to cut its oil production at the latest OPEC meeting, saying it is a “red line” for the Islamic Republic. “It’s a red line for Iran to reduce its production, to contribute to a new cut in production. Iran hasn’t produced any more oil in the previous months and it’s […]

‘Wait and see’: Russia isn’t interested in joining new OPEC-led oil output cuts

     Russia prefers to stay out of any fresh oil production cuts led by OPEC’s leader Saudi Arabia, Reuters reported, quoting two high-ranking Russian sources. Russia – which together with Saudi Arabia and some Arab Gulf producers has been raising production since June to offset Iranian losses – saw its oil production set a new […]

Iraq to increase oil output and exports, waits on Iran sanctions – minister

Reuters – Iraq plans to increase its oil output and export capacity in 2019, with a focus on its southern oilfields, and is close to reaching a deal with international companies, Oil Minister Thamer Ghadhban said on Tuesday. The new minister also said the shortfall in oil supply caused by new U.S. sanctions on Iran […]

Saudi Arabia, Russia agreed in September to lift oil output, told U.S.

Reuters – Russia and Saudi Arabia struck a private deal in September to raise oil output to cool rising prices and informed the United States before a meeting in Algiers with other producers, four sources familiar with the plan said. U.S. President Donald Trump has blamed the Organization of the Petroleum Exporting Countries (OPEC) for […]

Talks before main OPEC meeting to debate 1 mln bpd output hike – sources

Reuters – Oil ministers will debate on Thursday whether to raise supplies by 1 million barrels per day as the main proposal for the upcoming meetings of OPEC and non-OPEC allies, OPEC sources said. Three OPEC sources said that if the proposal was approved, all OPEC members and their non-OPEC allies could raise supplies pro-rata, […]

Iran says OPEC won’t pursue US instructions on oil output hike

Press TV-Iran has lashed out at the United States for asking Saudi Arabia to pump more oil to cover a drop in Iranian exports, saying the Organization of the Petroleum Exporting Countries (OPEC) would dismiss the appeal. “It’s crazy and astonishing to see instruction coming from Washington to Saudi to act and replace a shortfall […]

Iran says can raise oil output to 4.5mb/d

SHANA– Iran has potential to increase its oil production to 4.5 million barrels a day (mb/d), the head of the country’s state-run oil firm said on Sunday. “By rebuilding some installations, we can easily bring [our oil production] to 4.5 mb/d,” said Ali Kardor, CEO of National Iranian Oil Company (NIOC). He said Iran’s oil […]

World Wine Output Falls to 60-Year Low

World Wine Output Falls to 60-Year Low April 24th, 2018 DOOOOOOOM! Via: Reuters: Global wine output fell to its lowest level in 60 years in 2017 due to poor weather conditions in the European Union that slashed production in the bloc, international wine organization […]

Iran can boost output fast if OPEC ends cuts, oil minister says

Bloomberg | Golnar Motevalli and Arsalan Shahla: Iran can swiftly increase production of crude if OPEC decides to scrap limits on global output when the group meets next in June, Oil Minister Bijan Namdar Zanganeh said. The Persian Gulf nation can raise daily production by at least 100,000 barrels within “five or six days” if […]

Solar sector still growing: Solar power output rose 47% in the first three quarters of 2017, highlighting Trump’s support for clean power

(Natural News) Two major solar power plants – Switch Station 1 and Switch Station 2 – which generate a total of 179 megawatts of solar power, recently began commercial operations on Bureau of Land Management (BLM) property in southern Nevada. This development brings home the fact that solar power is still booming in the United […]

Int’l ties can boost Iran petchem output: Official

SHANA — An official with the National Petrochemical Company (NPC) says international relations has promoted Iran’s petrochemical industry, adding such ties can guarantee enhanced productivity of the country’s plants. Ali Mohammad Bossaqzadeh, director of production control at NPC, said given the promising atmosphere created in the wake of the Joint Comprehensive Plan of Action (JCPOA), […]

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