Solar Energy News  
OIL AND GAS
Russia plans to cut oil output by 300,000 barrels per day
by Daniel J. Graeber
Washington (UPI) Apr 12, 2017


According to state media in Russia, the country's oil minister has upped the ante on how much the country will cut out of its production levels through June.

"Our plans have not changed -- by the end of the month we will reduce daily reduction of oil output of 300,000 barrels," Russian Energy Minister Alexander Novak was quoted as saying by state news agency Tass. "We will maintain this level in May-June."

Tass reported Tuesday that total crude oil production from Russia last month was 11.04 million barrels per day, about 67 percent toward a quota outlined in a deal with OPEC, but also cited the minister as saying cuts by the end of April would be 250,000 barrels per day.

Russia is the largest non-member contributor to an arrangement by the Organization of Petroleum Exporting Countries to balance the global market for oil through production cuts. Parties to the deal meet to consider the terms next month and it's widely expected the arrangement will be extended for another six months.

Figures posted on Twitter by pricing group S&P Global Platts note official data from Russia show March oil production at 10.3 million barrels per day, about 60,000 barrels per day less than the first two months of the year. The average production for the first quarter of the year stands at around 11.2 million barrels per day, 130,000 barrels per day lower than the fourth quarter, but 120,000 barrels per day higher year-over-year.

"Most Russian producers have reduced production month-over-month since January," the report from Platts read.

Novak's most recent comments align with Russia's pledge to OPEC to cut 300,000 barrels per day by May. Coordinated production declines from all contributing non-member states would be 558,000 barrels per day if all parties are in total compliance.

Participating OPEC members are touting compliance amid a sustained rally in crude oil prices, fueled in part by geopolitical tensions. In its monthly market report for April, secondary sources told OPEC economists that member-state production declined in March by 152,000 barrels per day to 31.9 million barrels per day.

Despite bullish calls from Riyadh on compliance, the price of oil and the terms of the arrangement, secondary sources reported total Saudi oil production last month was just shy of 10 million barrels per day for a gain of about a half percent from February.

OIL AND GAS
China, Myanmar ink oil pipeline deal
Beijing (AFP) April 10, 2017
China and Myanmar agreed a deal on a crude oil pipeline between the neighbouring countries as part of a raft of agreements signed when their leaders met Monday in Beijing. Chinese President Xi Jinping met with Myanmar President U Htin Kyaw at the end of the Burmese statesman's first visit to China since taking office last spring. The countries signed an agreement on a partially-completed ... read more

Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
Gripen fighter completes test flights using 100 percent biofuel

Scientists engineer sugarcane to produce biodiesel, more sugar for ethanol

Ridding the oceans of plastics by turning the waste into valuable fuel

Shell unveils giant new high-tech research lab in India

OIL AND GAS
Facebook launches digital assistant 'M' in US

NASA Tests Robotic Ice Tools for Use on Ocean Worlds

Robot epigenetics: Adding complexity to embodied robot evolution

NASA Robotic Refueling Mission Departs Station

OIL AND GAS
Canada sees emerging role for wind energy

U.N. says low-carbon economy not a "pipe dream"

Mega-wind farm offshore Denmark clears hurdle

Japan scientist eyes energy burst from 'typhoon turbine'

OIL AND GAS
Renewable energy needed to drive uptake of electric vehicles

When distracted drivers slow down, danger ensues, study shows

Ford boosts research in Canada for connected cars

Tesla tops quarterly sales forecast

OIL AND GAS
Group works toward devising topological superconductor

Controlling electron spin for efficient water splitting

How does oxygen get into a fuel cell

Clarifying how lithium ions ferry around in rechargeable batteries

OIL AND GAS
S.Africa to re-think nuclear deal after junk status : ANC

France enshrines decision to close oldest nuclear plant

Toshiba to buy Engie's stake in NuGen for $139 mn

Toshiba execs under fire as loss forecast balloons

OIL AND GAS
U.S. emissions generally lower last year

World Bank urges more investment for developing global electricity

US states begin legal action on Trump energy delay

Program to be axed saves energy in LA buildings

OIL AND GAS
Stanford study explores risk of deforestation as agriculture expands in Africa

First world survey finds 9,600 tree species risk extinction

Emissions from the edge of the forest

Methane emissions from trees









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.