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...Last year, Bluebell called on BP to increase its production target to 2.5mn b/d of oil equivalent by 2030, arguing that it was destroying shareholder value by moving away from hydrocarbons faster than society...
...Last year, Aramco acquired a 10 per cent stake in Shenzhen-listed Rongsheng Petrochemical for $3.6bn and entered a venture with two other Chinese companies to build a 300,000 b/d refinery and petrochemicals...
Policymakers try to revive IPOs and trading volumes but plans are fragmented and progress has been slow
...US production rose by roughly 1.5mn b/d to a record 13.5mn b/d in 2023 while that of Iran increased to an average of roughly 3.9mn b/d from about 3mn b/d a year earlier, said Claudio Galimberti, North America...
...The IEA predicts oil demand will grow by 1.2mn b/d, about half the pace of 2023, while Opec believes demand growth will be higher at 2.2mn b/d....
...d to 13mn b/d by 2027....
...“They have 3mn b/d of spare capacity now so what is the rush of increasing production capacity to 13mn b/d.”...
...responsible for 10 per cent of global supply, said it had been asked by the energy ministry to abandon a plan to increase the Kingdom’s maximum sustainable production capacity from 12mn barrels per day to 13mn b/...
...“R&B” features on their invigorating debut album, This Could Be Texas. Joined by bassist Nicholas Eden, drummer Douglas Frost and guitarist Lewis Whiting, Fontaine’s lyrics are witty and unobvious....
...The country pumped 13.3mn b/d of oil in November, the last month for which data is available from the Energy Information Administration, more than any country in history....
...Exhibit B: Norway’s parliament last month voted to open up for deep-sea mining in and close to the Arctic....
...This irked Harold Wilson, the then leader of the Labour party.” The first sentence is misleading....
...It had previously forecast demand to grow by 1mn b/d in 2024....
...Harbour’s oil and gas production will rise from about 190,000 barrels a day to more than 500,000 b/d when the deal completes....
...The family will also hold the majority of the voting rights, as only B shares were offered to external investors....
...These have picked up markedly in recent years, from a low of about 400,000 b/d in the pandemic year of 2020 to about 1.4mn b/d recently, according to Richard Bronze at Energy Aspects....
...In 2023, however, oil demand is on track to average 102.2mn b/d — its highest ever annual level, according to the IEA....
...At full capacity, the refinery will process 650,000 b/d, which could transform the country into a net exporter of refined fuels....
...and 360,000 b/d in 2025....
...Saudi Arabia’s oil output is likely to remain at 9mn b/d until the end of December, 25 per cent lower than its maximum capacity of 12mn b/d. Read more on oil here...
...Shares in German beauty retailer Douglas fell as much as 9 per cent in their Frankfurt debut last month....
...Nasser expected global oil demand to average as much as 104mn b/d in the third quarter of 2023, 2.4mn b/d higher than in the same period last year, driven largely by increased demand in China....
...Its output has been reduced from about 10.5mn b/d in April to about 9mn b/d, through a combination of Opec+ mandated production targets and its voluntary cuts....
...This is a company that can’t deliver the basic ask of an aeroplane manufacturer that its planes get from A to B in one piece....
...The reduction in output is in addition to a voluntary 500,000 b/d cut announced by the kingdom in April, when its output was around 10.5mn b/d....
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