According to media Doha August 17 reported that the Qatar News Agency today quoted the country's oil sector, a senior official as saying that oil and gas capacity in Qatar in 2014 will reach 5 million barrels of oil equivalent, Qatar, the planned expansion of a number of energy projects will be completed in 2014.
Reuters quoted Qatar Petroleum oil and gas project manager as saying that the world's largest liquefied natural gas (LNG) exporter in 2014 in the Nissan prior to 23 billion cubic feet of natural gas. He said that Qatar is expected to be 2014 before the annual production capacity of 12 million tons of propane and butane, the country's total output of petrochemical products by 2015 will reach 4.3 million tons.
According to a Reuters survey, the smallest OPEC oil-producing countries in July the average daily output 710,000 barrels of oil. At present annual output of 45 million tons of LNG, Qatar intends to achieve in 2010 an annual output of 77 million tons LNG can.
Aug. 19, 2009
Libya: The world oil demand so far no signs of recovery
Tripoli August 15 news, Organization of Petroleum Exporting Countries (OPEC) members of senior officials of the Libyan oil sector on August 14 said here today that world oil demand so far no signs of recovery in the current market is still over-supply. Libyan Oil Minister and Chairman of the Libyan National Oil Company Shukri Ghanem said: "Let us look at the market supply and demand figures, the current market is still too much supply."
Ghanem said that the world demand for oil has not yet any signs of recovery. Ghanem said OPEC should cut production targets to increase the percentage of completion. OPEC production is being done and the proportion of the target from 80 percent earlier this year dropped to about 70%. OPEC is to predict in the September 9 meeting to cut oil production is still too early.
Institutions of the International Energy Agency in Paris on August 12 have claimed that the department recently increased this year and next year's world oil demand forecast, the International Energy Agency expects global oil demand this year will fall 2.7%.
Aug. 17, 2009
Ghanem said that the world demand for oil has not yet any signs of recovery. Ghanem said OPEC should cut production targets to increase the percentage of completion. OPEC production is being done and the proportion of the target from 80 percent earlier this year dropped to about 70%. OPEC is to predict in the September 9 meeting to cut oil production is still too early.
Institutions of the International Energy Agency in Paris on August 12 have claimed that the department recently increased this year and next year's world oil demand forecast, the International Energy Agency expects global oil demand this year will fall 2.7%.
Aug. 17, 2009
Iraq oil exports in July hit a record high
Iraq's State Oil Marketing Organization Farah has announced that in July this year on Iraq's oil export volume has increased to 2.037 million barrels a day, for the war in Iraq since 2003, the highest on record.
Reports indicate that this year, Iraq's energy production to increase oil production enterprises and a substantial increase in the volume of crude oil exports to Japan, in addition to the international crude oil market continues to rise in oil prices. These factors make the Iraqi government revenue continues to grow. This has provided the Iraqi government more funds to promote economic plan to rebuild the country. According to the Iraqi Oil Ministry to develop ten-year development plan, Iraq's crude oil output in 2013 from the current 2.4 million barrels to 450 million barrels per day.
Aug. 11, 2009
Reports indicate that this year, Iraq's energy production to increase oil production enterprises and a substantial increase in the volume of crude oil exports to Japan, in addition to the international crude oil market continues to rise in oil prices. These factors make the Iraqi government revenue continues to grow. This has provided the Iraqi government more funds to promote economic plan to rebuild the country. According to the Iraqi Oil Ministry to develop ten-year development plan, Iraq's crude oil output in 2013 from the current 2.4 million barrels to 450 million barrels per day.
Aug. 11, 2009
U.S. oil and gas companies have published optimistic forecasts
Houston, August 6 news, as a result of rising oil prices and the declining cost of oil field services, the U.S. oil and gas companies have recently enhanced awareness of the remainder of the year the performance of the company's forecasts. As a result of oil prices from a quarter of the 43 U.S. dollars a barrel to 60 dollars, such as the United States and Bill Barret as Denbury Resources Inc. Oil and Gas companies have forecast the company's performance will be improved in the second half of this year.
Decline in the cost of services has also helped companies such as Exco and Berry Petroleum oil and gas companies as better than expected quarterly results. Analyst Amir Arif company Stifel Nicolaus, told reporters that the cost of services is expected to continue to decline 5-10 percent, a decline in service fees will be increased drilling activity.
However, BMO Capital Markets said the analyst, he considered that a further decline in the cost of services will reduce their impact on company bottom line.
Aug. 7, 2009
Decline in the cost of services has also helped companies such as Exco and Berry Petroleum oil and gas companies as better than expected quarterly results. Analyst Amir Arif company Stifel Nicolaus, told reporters that the cost of services is expected to continue to decline 5-10 percent, a decline in service fees will be increased drilling activity.
However, BMO Capital Markets said the analyst, he considered that a further decline in the cost of services will reduce their impact on company bottom line.
Aug. 7, 2009
Junin-7 block of Venezuela has 6 billion barrels of recoverable oil reserves
August 1, Caracas, Venezuela, government officials said in recent days by the Venezuelan national oil company (PDVSA) and the Spanish oil giant Repsol joint research of an oil block in Venezuela have more than 6 billion barrels of recoverable oil reserves the oil block likely to begin in 2011 oil production.
Venezuelan President Hugo Chavez in Venezuela to attend the Spanish energy companies and energy companies, signed in Caracas between the number of agreements on the media after the ceremony said: "This will be a great project." Chavez added that, Junin-7 block of Venezuela and Spain will be a joint venture formed to develop the oil block will be on more than 20 million barrels per day. The construction of the project to upgrade facilities to handle tar-like crude oil.
Venezuela and Spain agreed to start in 2005 at the Orinoco oil belt in eastern Venezuela's Junin-7 block the exploration and development cooperation. Orinoco region is considered the world's oil reserves and one of the major oil overweight.
Venezuelan Oil Minister Rafael Ramirez said that the oil block Junin-7 may be in the research end of this year. Once the joint venture sometime next year is approved, oil production may have been approved the day after the beginning of two years.
Aug. 3, 2009
Venezuelan President Hugo Chavez in Venezuela to attend the Spanish energy companies and energy companies, signed in Caracas between the number of agreements on the media after the ceremony said: "This will be a great project." Chavez added that, Junin-7 block of Venezuela and Spain will be a joint venture formed to develop the oil block will be on more than 20 million barrels per day. The construction of the project to upgrade facilities to handle tar-like crude oil.
Venezuela and Spain agreed to start in 2005 at the Orinoco oil belt in eastern Venezuela's Junin-7 block the exploration and development cooperation. Orinoco region is considered the world's oil reserves and one of the major oil overweight.
Venezuelan Oil Minister Rafael Ramirez said that the oil block Junin-7 may be in the research end of this year. Once the joint venture sometime next year is approved, oil production may have been approved the day after the beginning of two years.
Aug. 3, 2009
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