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
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.
Crude distillation has been cut back by 15,000 bpd
due to the shutdown of a 51,000-bpd vacuum distillation unit (CDU) for cleaning and inspection and coker intake reduced by 25,000 bpd
due to the outage of a hydrogen purification unit, the sources said.
"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.