The Iranian Offshore Oil Company (IOOC) is currently implementing US$2.6 billion worth of projects expected to boost Iran’s offshore oil production by 85,000 barrels per day (bpd), Iranian media reported on Monday. The Iranian state-held offshore oil firm has awarded various projects to Iranian service contractors, Alireza Salman-Zadeh, the head of IOOC, said. The contracts …
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The US has attacked an Iranian-backed militia inside Syria and Iraq in retaliation for a rocket attack on a base that killed an American contractor. Pro-Iranian militia and the Iraqi government condemned the US action. The US carried out airstrikes in Iraq and Syria targeting an Iran-backed Iraqi militia blamed for a rocket attack that …
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Brazil’s crude oil production in November topped 3 million barrels per day for the first time ever, the National Petroleum Agency reported, adding that total oil and gas production rose to 3.95 million barrels of oil equivalent daily – also a record-breaking figure. The strong output result came on the back of ongoing ramp-up of …
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Watch: Russia tests missile system in the Arctic Moscow (CNN)Russia’s new hypersonic missile system known as Avangard has entered service, the country’s state media has reported. Russia’s Defense Minister Sergei Shoigu confirmed the nuclear-capable missiles had been added to service during a conference call with President Vladimir Putin on Friday.Shoigu gave his congratulations to “everyone …
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The Long March 5 is 57 metres tall and weighs 867,000 kg; the massive, heavy lift rocket was manufactured by the China Academy of Launch Vehicle Technology and is viewed as one of the most powerful launch vehicles in the world. China has successfully launched its Long March 5 rocket from a launch site on the …
(CNN)US forces conducted strikes in Iraq and Syria against five facilities tied to an Iranian-backed militia blamed for a series of attacks on joint US-Iraq military facilities housing American forces. The strikes, announced Sunday, are the first significant military response in retaliation for those attacks, which have injured numerous American military personnel. The group is …
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The request came after Turkey’s President Erdogan said Ankara will send troops to Libya after Tripoli asked for it, and he will present legislation to parliament in January for deployment to the north African country. Libya’s internationally recognised government has formally requested from Turkey “air, ground and sea” military support to fend off an offensive …
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U.S. equity funds saw retail inflows for the second time in two months in latest week As U.S. stocks enjoy a year-end rally that has pushed the S&P 500 index SPX, +0.06% year-to-date gains above 29%, there are signs that individual investors are finally getting in on the action, and have been convinced equities are …
Oil prices tilted higher on Friday, trading around a three-month peak, after a report showed a bigger-than-expected decline in weekly U.S. stores of crude and its byproducts. The Energy Information Administration showed that U.S. crude supplies fell by 5.467 million barrels for the week ended Dec. 20. Analysts polled by S&P Global Platts had forecast …
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 5.5 million barrels from the previous week. At 441.4 million barrels, U.S. crude oil inventories are about 2% above the five year average for this time of year. U.S. crude oil refinery inputs averaged 17.0 million barrels per day during the week …
Continue reading “EIA Weekly Petroleum Data for the week ending December 20, 2019”