The report says that oil consumption in Azerbaijan amounted to 97,000 barrels per day
in 2018 compared to 96,000 per day in 2017.
Refinery throughput averaged 344,000 barrels per day
, compared to 363,000 barrels per day
in the second quarter of 2018.
It will push up production to 8.52m barrels per day
, the Energy Information Administration (EIA) said in its monthly report.
The bulk of the revenue of N3.73 trillion is, however, from oil revenue production of 2.3 million barrels per day
at $60 per barrel.
Officials said Saudi Arabia and the UAE had announced the same packages for Pakistan and Riyadh was likely to set up a refinery with a capacity of 250,000 barrels per day
. At present, the total refining capacity of Pakistan is around 300,000 barrels per day
Oil-producing countries are cutting production by 1.2 million barrels per day
from January 2019 for six months to rebalance oil markets and support oil prices.
In December 2018, PPL made two discoveries in Sindh province that include gas of 18.6 mmcfd and 160 barrels per day
of oil in Sanghar and another discovery of 9mmcfd of gas was made in Sajawal.
By press time, this surplus will most likely have disappeared all together as the glut has been contracting at a rate of around 800 thousand barrels per day
. Not coincidentally, oil production from the "OPEC 14" is down by approximately 750,000 barrels per day
over this period.
The United Arab Emirates (UAE) could most likely add another 100,000 barrels per day
to OPEC production, but increasing to this level would bring them to a production level above which they were only able to maintain for a brief period once before.
Cactus II pipeline capacity is fully committed with long- term third-party shipper contracts totaling 525,000 barrels per day
, composed of 425,000 barrels per day
of long-term minimum volume commitments and an additional 100,000 barrels per day
of commitments associated with long-term acreage dedications.
IEA expects that world demand for oil in 2017 will increase by 1.6 million barrels per day
year-on-year, Russian news agency Tass reported, citing the agency's September report.
TEHRAN (FNA)- Operator of the Project for Development of Yadavaran Field Hadi Nazarpour says oil production from Yadavaran joint field has exceeded 115,000 barrels per day