By Mirsaid Ibrahimzade Azerbaijan will produce an average of 0.78 million barrels of oil and condensate per day in 2019. This is stated in the March edition of the Short-Term Energy Forecast of the U.S. Energy Information Administration (EIA), Report informs. According to the forecast, in the first quarter of 2019, the level of production will be 0.79 million barrels per day. In the second quarter, production will remain unchanged - 0.79 million barrels. In the third and fourth quarters of the current year, oil and condensate production is projected at 0.78 million barrels and 0.76 million barrels per day, respectively. The average daily production in 2020, as predicted by the EIA, will be 0.76 million barrels of oil and condensate. Note that the March forecast for 2019 and 2020 remained unchanged compared with the data from the February edition. According to the information of the Ministry of Energy of Azerbaijan, daily oil production in the country in February amounted to 0.806 … [Read more...] about EIA keeps its forecast on oil production unchanged
Oil
India’s Reliance caps Venezuelan oil purchases
Date created : 14/03/2019 - 09:05 Mumbai (AFP) India's biggest private oil refiner Reliance Industries has stopped crude imports from sanction-hit Venezuela, the company said Thursday, following pressure from the United States.The energy-to-telecoms conglomerate has also stopped exporting diluents to the crisis-hit South American country, it told AFP.The announcements come after US Secretary of State Mike Pompeo asked India to halt all crude imports from Nicolas Maduro's regime, which the United States does not recognise."Our US subsidiary has completely stopped all business with Venezuela's state-owned oil company, PdVSA, and its global parent has not increased crude purchases," Reliance said in an emailed statement."Reliance has halted all supply of diluent to PdVSA and will not resume such sales until sanctions are lifted," added the company, which is owned by India's richest man Mukesh Ambani.Venezuela -- a once-rich oil-producing nation -- is in the grip of an economic and … [Read more...] about India’s Reliance caps Venezuelan oil purchases
Exxon said considering gas, oil exploration in Israel
American energy giant Exxon Mobil is considering entering the Israeli arena to explore for oil and gas, according to a report Wednesday, Trend reports referring to The Times of Israel. Companies officials met this week with Energy Minister Yuval Steinitz in Houston, Texas to discuss bidding for exploration rights, Reuters said, ahead of a June auction. In recent years large natural gas reserves have been discovered off Israel’s shores. Another US-based energy company, Noble Energy, is currently completing its rig in the Leviathan gas field, the largest reserve discovered in the country so far. It is estimated to contain 18 trillion cubic feet of gas. Natural gas from the field is supposed to pump into Israel and its neighboring countries by the end of the year. Israel already has export deals signed with Jordan and Egypt, and it aims to build a pipeline with Greece and Cyprus to carry the gas to Europe. Reuters noted that Exxon and other major energy companies have so far avoided … [Read more...] about Exxon said considering gas, oil exploration in Israel
Oil spill heading to Brittany coast after cargo ship sinks
The sheet of oil, 10 kilometres long and one km wide, could hit parts of the country's southwest region near the port city of Bordeaux this weekend. "According to our forecasts, fragments could reach some areas of the coast in Nouvelle-Aquitaine by Sunday or Monday owing to bad weather, which also risks making the anti-pollution operation more difficult," environment minister Francois de Rugy said Wednesday. France will deploy four ships to help battle the oil slick at sea and will prepare for a clean-up operation on land, he added. The Italian-registerd Grande America was en route from Hamburg in Germany to Casablanca in Morocco when a fire broke out late on Sunday. All 27 people on board were evacuated the following day as the fire worsened, before the ship sank some 300 km west of the town of La Rochelle on Tuesday. The 26 crew members and single passenger were rescued by Britain's Royal Navy. Pollution risk "very localised" Jean-Louis Lozier, head of the regional maritime … [Read more...] about Oil spill heading to Brittany coast after cargo ship sinks
Oil slick threatens French coast after cargo ship sinks
Date created : 14/03/2019 - 05:43 An oil slick was heading towards the French coastline on Thursday after an Italian cargo ship sank in the Atlantic carrying 45 containers of "dangerous materials", authorities said. The sheet of oil, 10 kilometres (six miles) long and one km wide, could hit parts of the country's southwest region near the port city of Bordeaux this weekend."According to our forecasts, fragments could reach some areas of the coast in Nouvelle-Aquitaine by Sunday or Monday owing to bad weather, which also risks making the anti-pollution operation more difficult," environment minister Francois de Rugy said Wednesday.France will deploy four ships to help battle the oil slick at sea and will prepare for a clean-up operation on land, he added.The Grande America was en route from Hamburg in Germany to Casablanca in Morocco when a fire broke out late on Sunday.All 27 people on board were evacuated the following day as the fire worsened, before the ship sank some 300 km … [Read more...] about Oil slick threatens French coast after cargo ship sinks