Gulf Oil and Gas accountACCOUNT

Caspian Oil Supply - May 2017

Source: OPEC 5/23/2017, Location: Asia

Azerbaijan’s oil supply forecast for 2017 remained unchanged with a contraction of 70 tb/d to average 0.78 mb/d, while oil production in 2016 declined by only 10 tb/d. Azeri oil output in April was reported higher by 32 tb/d m-o-m at 725 tb/d, but output of NGLs was flat at 69 tb/d. Therefore, total liquids output in April increased by 30 tb/d to average 0.79 mb/d. This led to an upward revision in oil supply by 10 tb/d in 2017, reaching 0.78 mb/d, indicating a contraction of 60 tb/d.

Kazakhstan’s oil output averaged 1.72 mb/d in 1Q17, some 40 tb/d higher y-o-y. Preliminary production data in April showed a steady output of 1.76 mb/d compared to March, which 260 tb/d higher y-o-y. The Kashagan ramp-up was steeper than expected in March, reaching 190 tb/d at the end of the month, while output was around 130 tb/d in February, five months after its re-start. However, the government hopes to reduce oil production at other fields in the coming months when the weather becomes warmer. Oil supply in 2016 declined by 40 tb/d y-o-y to average 1.56 mb/d.

Oil News in Azerbaijan >>

Russia >>  6/22/2020 - LUKOIL started drilling of an exploration well at the Shirotno-Rakushechnaya prospect structure, located to the north of the V.I. Grayfer field. As th...
India >>  6/19/2020 - KBR (KBR) has signed a memorandum of understanding with L&T Hydrocarbon Engineering Ltd (LTHE) for refinery and petrochemical projects. ...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 

Azerbaijan Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.