oil production

Tullow Oil Plc Expects a Revenue of $1.6 Bln for 2015, 28% lower than 2014

Oil explorer Tullow expects to report revenue of $1.6 billion for the year 2015. The company also anticipates its impairment charges to be $0.9 billion for the full year.

Oil Price is Slightly Rising Amidst Tension Between Saudi and Iran

Oil price is rising amidst tension between Saudi Arabia and Iran. The oil price started the first day of trading in 2016 at the price of $38 a barrel before reduced to $37 in the afternoon trading.

Mexico's Pemex to slash down jobs in 2016

Mexico state-run oil major Petroleos Mexicanos (Pemex) may reduce jobs in 2016 as part of its restructuring plan. The company is keen on making partnerships along the production chain. Pemex may tap private capital for funding the business strengthening operations.

Saudi Arabia's crude Oil Export Rose to 7.111 M bpd in September

Saudi Arabia’s crude oil export in September rose to 7.111 million barrels per day from August’s 6.998 million bpd. The country continues to produce a lot of oil despite its slow price growth.

The reason Saudi Arabia won't hold off oil production

Oil industry has been suffering too much from the price crash and worse is some have gone bankrupt. Still Saudi Arabia won't lessen it's oil production eventhough they are already affected but more affected are its rivals. In the end, Saudi Arabia will have more to gain.

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