In March, production would be cut by 80,000
bpd compared to November levels, bringing output down to 1.82 million
bpd, the minister said, speaking on the sidelines of a meeting of OPEC members and other major oil exporters in Baku, Azerbaijan.
Iraq exported 3.649 million
bpd of crude oil in January.
Giving a breakup, they said Pakistan Petroleum Limited (PPL) made a discovery in August in Sanghar district of Sindh, having flow of 23 mmcfd gas and 91
bpd oil.
Last month, Indian buyers lifted purchases of Iranian crude to 502,000
bpd, up 111,000
bpd over August, in "a last gasp" of purchases "before sanctions actually hit," a U.S.-based trader said, adding that those additional barrels displaced US crude.
For 2019, Opec forecasts world oil demand to grow by 1.43mn
bpd, but some 20,000
bpd lower than the Vienna-based organisation's July assessment.
"The projects involve the establishment of a new refinery in Kuwait with a refining capacity of 615,000
bpd, the Jazan refinery in Saudi Arabia with a capacity of 400,000 barrels per day, and the Duqm refinery in Oman with a capacity of 230,000
bpd," said Abbas Ali Al-Naqi, secretary general of the Organisation of Arab Petroleum Exporting Countries (OAPEC).
Exports reached 22 different countries in the month, including top destinations of Canada (279,000
bpd), China (448,000
bpd) and the Netherlands (181,000
bpd).
Sales increased from Venezuela, Nigeria, Angola, Algeria, Ecuador and Qatar, with the African producers adding 340,000
bpd m-o-m, while Latin American members exported 280,000
bpd more m-o-m with Venezuela accounting for 69 per cent of the increase.
"This is (for) facilities needed to develop heavy oil, to be able to produce up to 60,000 (
bpd)," he said of the planned first phase of the project at Kuwait's northern Ratqa field.
TEHRAN (FNA)- Latest data showed that the four top importers of Iran's crude have bought over 1mln
bpd of oil from the Middle-Eastern country since November, when Tehran and the world powers struck a deal.