bpd

Reserves to rise through 2030: Ecuador state oil firm


September 6th, 2012 - 11:32 am ICT by IANS
Quito, Sep 6 (IANS/EFE) Ecuadorian state oil firm Petroamazonas expects crude reserves at its fields in the Amazon region to climb by around 7 percent through 2030 thanks to a ... Read more...

Posted in Business |

Ecuador expects China to fully finance refinery


April 23rd, 2012 - 11:30 am ICT by IANS
Quito, April 23 (IANS/EFE) Ecuador expects China to provide all of the financing for the Refineria del Pacifico, a mega-refinery for processing crude and the largest public works project in ... Read more...

Posted in Business |

Brazilian oil firm says refining shortfall to last until 2013


March 15th, 2012 - 11:21 am ICT by IANS
Sao Paulo, March 15 (IANS/EFE) Brazilian state-controlled energy giant Petrobras said it will experience fuel deficits until new domestic refineries come online in 2013 and therefore expects to import 80,000 ... Read more...

Posted in Business |

Chinese-Spanish venture makes oil find in Brazil


February 28th, 2012 - 11:25 am ICT by IANS
Madrid, Feb 28 (IANS/EFE) Chinese-Spanish oil venture Repsol Sinopec Brasil has made a new oil find in Brazil's deepwater Campos Basin, with the discovery offering one of the heaviest accumulations ... Read more...

Posted in Business |

Mexican oil firm posts nearly $25 bn surplus in 2011


February 1st, 2012 - 12:57 pm ICT by IANS
Mexico City, Feb 1 (IANS/EFE) Petroleos Mexicanos, or Pemex, said Tuesday it posted a trade surplus of $24.99 billion in 2011, up 28 percent from the prior year.Exports totaled $55.79 ... Read more...

Posted in Business |

Iran oil exports to South Korea up 48 percent


January 10th, 2012 - 7:48 am ICT by IANS
Moscow, Jan 10 (IANS/RIA Novosti) Iran's oil exports to South Korea rose by 48 percent in November 2011, making the Islamic Republic the second largest crude supplier to the South ... Read more...

Posted in Business |

Venezuela will become world’s top oil exporter: Chavez


December 29th, 2011 - 11:32 am ICT by IANS
Caracas, Dec 29 (IANS/EFE) Venezuela, which has the world's largest certified reserves of petroleum, will become the top oil exporter within the next 10 years, President Hugo Chavez said."We will ... Read more...

Posted in Business |

Venezuela aims to boost oil output


December 21st, 2011 - 11:16 am ICT by IANS
Caracas, Dec 21 (IANS/EFE) Oil-rich Venezuela will boost its production of crude to 3.5 million barrels per day in 2012, President Hugo Chavez said."We are at 3 million, fluctuating there ... Read more...

Posted in Business |

Vedanta meets all conditions for stake buy out: Cairn


December 7th, 2011 - 9:35 pm ICT by IANS
Mumbai, Dec 7 (IANS) Oil explorer Cairn Energy Wednesday said it will go ahead with the sale of 40 percent of its stake in the India subsidiary to Anil Agarwal-promoted ... Read more...

Posted in Business |

Colombian oil company to invest $8.48 bn in 2012


November 23rd, 2011 - 11:18 am ICT by IANS
Bogota, Nov 23 (IANS/EFE) Colombian state oil company Ecopetrol S.A. plans to invest $8.48 billion next year and has set a goal of boosting production to 750,000 barrels of oil ... Read more...

Posted in Business |

ONGC approves Cairn-Vedanta deal


September 28th, 2011 - 7:01 pm ICT by IANS
Mumbai, Sep 28 (IANS) In a relief to Anil Agarwal-promoted Vedanta Group, state-run Oil and Natural Gas Corp has agreed to it buying the India assets of Britain-based Cairn Energy, ... Read more...

Posted in Business |

Pakistan spuds 21 new oil wells


August 21st, 2011 - 8:39 pm ICT by IANS
Islamabad, Aug 21 (IANS) Pakistan's state-run OGDCL oil company has spudded 21 new oil wells with net crude production of 37,370 bpd during the fiscal ending June 30, a media ... Read more...

Posted in South Asia |

Venezuela provides $2 bn for fund with China


July 11th, 2011 - 11:33 am ICT by IANS
Caracas, July 11 (IANS) President Hugo Chavez has signed a $2 billion contribution from Venezuela to a binational fund with China.The approval of "this new tranche" of funding is "another ... Read more...

Posted in Business |

Colombia has record oil output in February


March 10th, 2011 - 11:17 am ICT by IANS
Bogota, March 10 (IANS/EFE) Colombia's oil output reached a record high of 861,000 barrels per day (bpd) in February, up 13.4 percent from the same month of 2010, authorities said.Average ... Read more...

Posted in Business |

India’s crude oil production continues to rise


June 29th, 2010 - 11:00 pm ICT by IANS
New Delhi, June 29 (IANS) India has seen a substantial rise in crude oil production in the last six months, buoyed by the production increase in the private sector. The latest figure for ... Read more...

Posted in Business |

Colombia’s oil exports total over $10 bn in 2009


March 4th, 2010 - 11:58 am ICT by IANS
Bogota, March 4 (IANS/EFE) Colombia's oil exports rose to $10.27 billion last year, accounting for just over one-third of total foreign trade, the energy and mines ministry said in a report. Foreign direct ... Read more...

Posted in Business |

Colombia expects $10 bn in energy, mining investment this year


January 20th, 2010 - 1:15 pm ICT by IANS
Bogota, Jan 20 (IANS/EFE) Investment in Colombia's mining and energy industries should come in at more than $10 billion this year, a minister said. The mining and energy sector has been "gathering a ... Read more...

Posted in Business |

Venezuela, China sign oil, mining agreements


December 24th, 2009 - 1:02 pm ICT by IANS
Caracas, Dec 24 (IANS/EFE) Venezuela and China have signed several new accords, one of which calls for Caracas to sell 500,000 barrels of oil per day to the Asian country and another ... Read more...

Posted in Business |

Shell and Petronas win rights to massive Iraqi oil field


December 11th, 2009 - 10:14 pm ICT by IANS
Baghdad, Dec 11 (DPA) A consortium led by Britain's Shell and Malaysia's Petronas energy companies Friday won rights to develop Iraq's massive Majnoon oil field, the Oil Ministry announced. The field, with 12.8 ... Read more...

Posted in Business |

Iraq signs first oil contract with foreign consortium in 36 years


November 4th, 2009 - 12:08 am ICT by IANS
Baghdad, Nov 3 (DPA) The government of Iraq Tuesday signed a contract with a Chinese-British consortium to develop southern Iraq's massive Rumaila oil field, a spokesman said. Iraqi oil ministry spokesman Assim Jihad ... Read more...

Posted in Business |

Mexico’s oil output falls in 2009


October 25th, 2009 - 3:41 pm ICT by IANS
Mexico City, Oct 25 (EFE) Oil output in Mexico has continued to decline in 2009, coming in at an average of 2.6 million barrels per day (bpd) for the first nine months ... Read more...

Posted in Business |

ONGC Videsh to increase production in Brazil


September 23rd, 2009 - 10:36 pm ICT by IANS
New Delhi, Sep 23 (IANS) ONGC Videsh Ltd (OVL), the overseas exploration arm of state-run Oil and Natural Gas Corp, Wednesday said it will increase production from its Brazilian oil fields to ... Read more...

Posted in Business |

Mexican government to raise taxes, cut spending


September 10th, 2009 - 12:15 pm ICT by IANS
Mexico City, Sep 10 (EFE) The Mexican government has proposed a 2010 budget that includes deep cuts in public spending and increased taxes on income and consumption to cover an expected revenue ... Read more...

Posted in Business |

Barmer oil output will bring prosperity: PM


August 29th, 2009 - 3:21 pm ICT by IANS
Barmer (Rajasthan), Aug 29 (IANS) Prime Minister Manmohan Singh said Saturday that the inauguration of Cairn India's Mangala oil fields here is bound to bring enormous prosperity to Rajasthan. Speaking after inaugurating ... Read more...

Posted in Business |

PM launches Cairn India’s oil fields in Barmer


August 29th, 2009 - 2:23 pm ICT by IANS
Barmer (Rajasthan), Aug 29 (IANS) Prime Minister Manmohan Singh Saturday formally inaugurated Cairn India's Mangala oil fields in Rajasthan, site of the country's largest oil discovery in two decades. At a function ... Read more...

Posted in Business |

Mexico forecasts 4 percent drop in oil output in 2010


August 29th, 2009 - 11:34 am ICT by IANS
Mexico City, Aug 29 (EFE) Mexican authorities said they expect average daily crude output to fall in 2010 to 2.5 million barrels per day, which would represent a four percent drop compared ... Read more...

Posted in Business |

PM to launch Cairn’s Mangala production Saturday


August 26th, 2009 - 9:00 pm ICT by IANS
New Delhi, Aug 26 (IANS) In a major boost to India's quest for energy security, Prime Minister Manmohan Singh will Saturday kick off Cairn India's oil production from Rajasthan's Mangala fields, ... Read more...

Posted in Business |

Cairn sees cost for Rajasthan crude prod at $5/bbl


August 20th, 2009 - 6:57 pm ICT by IBNS
Jaipur/Kolkata, Aug 20 (IBNS) Cairn India Ltd expects to hold costs at about $5 per barrel for crude oil produced from its Rajasthan fields, a top official said, helping the energy explorer ... Read more...

Posted in Business |

Repsol YPF announces first oil find in Libyan waters


April 22nd, 2009 - 7:05 pm ICT by IANS
Madrid, April 22 (EFE) Spain's Repsol YPF and its Austrian partner OMV have discovered hydrocarbons in Libyan waters, the Spanish company told securities regulators in Madrid. The well, with a depth of 4,820 ... Read more...

Posted in Business |

Petrobras expects to be world oil major by 2020: Official


March 25th, 2009 - 3:21 pm ICT by IANS
Rio de Janeiro, March 25 (EFE) The CEO of Brazil's Petrobras has said that the state-controlled firm will be one of the world's largest oil companies by 2020. It intends to produce 5.7 ... Read more...

Posted in Business |

Crude prices jump after US House approves stimulus plan


February 14th, 2009 - 4:49 am ICT by IANS
New York, Feb 13 (Xinhua) Crude prices jumped Friday after the US House of Representatives approved the $787-billion economic stimulus package. The package, which was approved without Republican support, includes more than $37.5 ... Read more...

Posted in World |

Gulf crude output to inrease by 10 mn bpd by 2015


September 8th, 2008 - 3:13 pm ICT by IANS
Abu Dhabi, Sep 8 (Xinhua) The combined oil production capacity in the oil-rich Gulf region is expected to increase by about 10 million barrels per day (bpd) by 2015 as a result ... Read more...

Posted in Uncategorized |

Petrobras announces discovery of new oil field


July 16th, 2008 - 1:05 pm ICT by IANS
Rio de Janeiro, July 16 (IANS) Brazil's state-owned energy major Petrobras has announced discovery of a new oilfield in the Atlantic with an estimated reserve of 150 million barrels, EFE news agency ... Read more...

Posted in Uncategorized |

UAE’s oil reserves to last 92 years: report


July 12th, 2008 - 2:08 pm ICT by IANS
Xinhua Abu Dhabi, July 12 (Xinhua) Oil reserves of the United Arab Emirates (UAE) will last for 92 years at the current production level, Gulf News daily reported Saturday quoting the latest report. ... Read more...

Posted in Uncategorized |

Saudi Arabia proposes ‘energy for poor’ initiative (Third Lead, changing dateline)


June 22nd, 2008 - 10:04 pm ICT by IANS
Jeddah, June 22 (IANS) Saudi Arabia has proposed a five-pronged approach to check the spiralling oil prices across the world, including an 'energy for poor' initiative. Welcoming delegates at the Jeddah energy ... Read more...

Posted in Uncategorized |

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