Oil
Kuwait’s KPC committed to OPEC oil output cut

State-owned Kuwait Petroleum Corp (KPC) said this week it was committed to an oil output cut agreed by the Organization of Petroleum Exporting Countries at a meeting in Vienna in November,...

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Libya – Oil production to rise to 700 thousand barrels per day

After a blackout in power in areas of Libya caused a dip in the country’s oil production, flows rebounded allowing Libya to see production rates of 700,000 barrels per day. The blackout occurred...

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Better times ahead for UK offshore, report finds

There are signs for greater optimism on the UK continental shelf, according to Offshore staff quoting from consultant Wood Mackenzie. The British sector may experience a modest recovery in 2017 after...

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Good News: New upstream projects to double globally in 2017

Final investment decisions (FID) are expected to double globally in 2017 while exploration and production spending will increase for the first time since 2014, according OGJ and Wood Mackenzie...

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Russian Energy Minister Alexander Novak: We’re ready to discuss cutting oil output volumes

In an interview with Bloomberg, Russian Energy Minister Alexander Novak said, “We’re ready to discuss the issue of cutting oil output volumes and ready to consider the possibility. “This...

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