EghtesadOnline: A month before OPEC and allies are set to discuss the future of their production cut deal, the leader of the non-OPEC group, Russia, appears to have finally fallen in line with its share of the cuts, producing below its OPEC+ quota for the month of May.
EghtesadOnline: Oil production from Azar Oilfield is projected to reach 65,000 barrels per day in the second half of current fiscal that started in March, said the director of projects at the Oil Industries Commissioning and Operation Company.
EghtesadOnline: Oil production at joint oil fields in West Karoun region bordering Iraq has been reduced by 6% as a precautionary measure to prevent environmental damage in the area, the managing director of the Petroleum Engineering and Development Company said.
EghtesadOnline: Flash floods during the past three weeks in the west and southwest are taking a toll on oil production in oil-rich Khuzestan Province, the National Iranian Oil Company's deputy managing director for planning said.
EghtesadOnline: Flooding during the past three weeks in the west and southwest of the country has not disrupted crude oil production in joint oilfields with Iraq, managing director of Petroleum Engineering and Development Company said Saturday.
EghtesadOnline: Operations are underway to increase oil production at North Yaran Oilfield in the southern Khuzestan Province.
EghtesadOnline: Iran says Venezuela and Iraq will join it in blocking a proposal to increase oil production, which is backed by Saudi Arabia and Russia when OPEC and its allies meet in Vienna this week.
EghtesadOnline: As the impact of the previous year’s boost in oil production and exports dissipates, Iran's overall growth rate is expected to stabilize at around 4.2%, with a larger contribution from the non-oil sector.
EghtesadOnline: Representatives of some OPEC and non-OPEC nations will meet in Abu Dhabi as soon as next week to discuss why some of them are falling behind in their pledges to cut production, people familiar with the matter said.
EghtesadOnline: Oil prices dipped on Monday, weighed down by a continuing expansion in U.S. drilling that has helped to maintain high global supplies despite an OPEC-led initiative to cut production to tighten the market.