Houston. More than a quarter of US oil production and 16 percent of natural gas production in the Gulf of Mexico remained paralyzed after Storm Rafael, the US offshore energy regulator reported on Sunday. The Bureau of Safety and Environmental Enforcement (BSEE) reported that 482,790 barrels of oil and 310 million cubic feet of natural … Read more
Jakarta – Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia said that Indonesia currently imports 1 million barrels of oil per day to meet domestic consumption needs. Even though Indonesia in the past could export 1 million barrels of oil per day. “If we look back, almost 30 years ago, 96, 97, our oil … Read more
British energy company BP has given the green light to its sixth oilfield, Kaskida, in the Gulf of Mexico, in the United States, with oil production set to begin in 2029. The new facility will feature a floating production platform capable of producing 80,000 barrels of crude oil a day from six wells in the … Read more
Washington. U.S. oil manufacturing and world demand for crude oil will develop this yr to data larger than anticipated, the Vitality Info Administration (EIA) introduced Tuesday. The company now expects U.S. oil manufacturing to extend by about 310,000 barrels per day (bpd) to 13.24 million bpd this yr, about 40,000 bpd greater than its Could … Read more
Jakarta – Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif asked the public to save energy such as the use of fuel oil (BBM). This is because the availability of petroleum reserves is limited and the global situation is not yet stable. “In order to maintain supply stability, we need to encourage the public … Read more
Bisnis.comJAKARTA — Market oil The world is facing tight supplies towards the end of the year which usually sees a surge in demand. The world’s oil refineries have proven powerless to produce fuel in sufficient quantities, thus opening up opportunities for new inflation and depriving the economy of the fuel that can power industry and … Read more
Jakarta – Saudi Arabia’s decision to extend its 1 million bpd oil production cut through August 2023 could trigger an economic contraction. The economy is expected to shrink by 0.1% to 1% if the policies persist for the rest of 2023. “Saudi cuts can be costly,” said Jean-Michel Lilina, Middle East and North Africa economist … Read more
Last month, OPEC expected growth in global oil demand as a result of easing Chinese restrictions on the zero Covid policy, so that the energy sector would witness an increase in production, in line with the increase in demand, supported by Nigerian supplies. OPEC oil production increased for most of 2022, as global demand levels … Read more
Production of the 19 OPEC members bound by quotas under the oil agreement is down by 50,000 barrels per day — to 38.33 million bpd last month, leaving an estimated 1.77 million bpd gap between alliance supply and its official targets. OPEC production fell by 1.77 million barrels per day below the agreement level A … Read more