Trends - oil output - Business Recorder

oil output

Indian Oil plans $4.5bn Panipat refinery expansion by Sept 2024

Along with expanding capacity, IOC will install catalytic dewaxing and polypropylene units at its Panipat refinery in northern Punjab state.
IOC said expansion of the refinery would raise production of petrochemicals and value-added specialty products to improve its margins and help "de-risk the conventional fuel business of the company".

Published 26 Feb, 2021 06:02pm

Markets

Oil extends losses as Texas prepares to ramp up output

Texas oil firms prepare for production restart.
Oil demand outlook weakened by US refinery deep freeze outages.
US-Iran relations thaw but 'long road' ahead.

Published 19 Feb, 2021 08:17pm

Markets

Saudi Arabia set to raise oil output amid recovery in prices: WSJ

Saudi Arabia is expected to announce its plans when a coalition of oil producers meets next month, according to the WSJ report, adding that the output rise won't kick in until April.

Published 17 Feb, 2021 07:49pm

Markets

IEA says oil market fragile, cites virus restrictions

The IEA said it had left its 2021 global oil demand forecast unchanged, at 96.4 million barrels per day (mbd), which represents a gain of 5.4 mbd over 2020.

Published 11 Feb, 2021 05:50pm

Business & Finance

Shell unveils green strategy after oil output peak

The group said it anticipates a "gradual reduction" in oil output of 1.0-2.0 percent each year, including divestments.

Published 11 Feb, 2021 04:44pm

Markets

Oil hits 13-month highs on supply cuts, weak dollar

Brent, WTI futures hit highest since January 2020.
Both contracts had risen for 6 straight sessions.
US crude, gasoline stockpiles up last week -Reuters poll.

Published 09 Feb, 2021 08:37pm

Markets

Oil hits highest in a year on growth hopes, OPEC+ cuts

Brent hits highest since Feb 2020.
OPEC+ maintains policy aimed at tightening supply.
US crude stockpiles fall to lowest since March.

Published 05 Feb, 2021 08:40pm

Markets

Lundin says drilling at Arctic Bask prospect resulted in dry well

Lundin had previously estimated Bask to hold up to 250 million barrels of oil equivalent.
The targeted formation contained poorly developed reservoir, and although traces of hydrocarbons were found.

Published 26 Jan, 2021 09:08pm

World

Iran's Zarif open to oil, Gulf security contacts with US, not on Israel

Iran called for action and "not just words" shortly after Joe Biden was sworn in as president on Wednesday. Biden has said Washington will rejoin the nuclear deal if Iran resumes strict compliance.
In my personal opinion, we should define our relationship with the United States.

Published 23 Jan, 2021 07:48pm

Markets

Even without Keystone XL, US set for record Canadian oil imports

Canada exports about 3.8 million bpd to the United States, according to US Energy Department data.
Whatever limited benefit that Keystone was projected to provide now has to be obviously reconsidered with the economy of today.

Published 22 Jan, 2021 08:19pm

World

Brazil government postpones to November plans to license 'transfer of rights' oil blocks

The blocks at Brazil's most productive oil region known as the pre-salt received no bids when first tendered by the government at the so-called "transfer of rights" auction in 2019.

Updated 19 Jan, 2021 11:13pm

Markets

Oil prices rise as investors look to higher demand seen in second half

IEA cuts 2021 demand outlook, but sees demand rise in H2.
Chinese refining, economic data bullish.
API data on US crude inventories due on Wednesday.

Published 19 Jan, 2021 06:31pm

Markets

Oil mixed as Chinese data offsets coronavirus fears

China's economy picked up in fourth quarter.
Libyan oil output cut by 200,000 bpd.
Stronger dollar weighs on prices.

Published 18 Jan, 2021 04:44pm

Markets

Oil prices ease as pandemic outweighs Chinese and US data

US crude stockpiles drop, fuel inventories build –EIA.
Oil market outlook clouded by vaccine rollout variables –IEA.
China reports most new COVID-19 cases in more than 10 months.

Published 14 Jan, 2021 07:10pm

Markets

Russia's OPEC+ deal compliance at 95-96pc in Dec

Novak said Russia would produce more oil this year than in 2020, TASS cited him as saying.

Published 14 Jan, 2021 06:51pm

Markets

Oil steadies as US inventory fall tempers demand woes

Brent crude prices were down 4 cents at $56.54 a barrel.
The next milestone for Brent prices is a rise above $60, a level not seen since late January 2020.

Published 13 Jan, 2021 06:43pm

Markets

IEA says oil market outlook clouded by vaccine roll-out variables

Producers are grappling with huge uncertainty about where this goes from here.
"That's not just in terms of economic recovery but indicators we wouldn't necessarily normally be looking at: (such as the) levels of trust in different countries about vaccines."

Published 13 Jan, 2021 06:28pm

Markets

Oil hits 11-month high towards $57 as Saudi cut supports

Saudi plans to cut extra 1 million bpd in Feb and March.
US crude stockpiles expected to drop for fifth week.
Coming up: API oil supply report, 2130 GMT.

Published 12 Jan, 2021 05:50pm

Markets

Kazakhstan's daily oil output down by 11pc on Jan. 11 amid power outages

Oil output at Kazakhstan's major Tengiz oilfield was down by 26% on Monday compared with Sunday's level at 437,792 barrels.
Chevron-led Tengizchevroil, the operator of the Tengiz field, said that it experienced "temporary outage at one of its units.

Published 12 Jan, 2021 05:40pm

Markets

OPEC December oil output rises for sixth month led by Libya: survey

OPEC December output rises 280,000 bpd from November.
Compliance to OPEC+ cut pledges weakens to 99%, lowest since Aug.
UAE posts largest output rise among quota-bound members.

Published 06 Jan, 2021 08:53pm

Markets

Oil prices up $1 on OPEC output cut talks, Iran tension

OPEC+ to resume talks on February output on Tuesday.
Iran seizes S. Korean-flagged chemical tanker.
UK to begin tougher lockdowns, chilling demand.

Published 05 Jan, 2021 07:18pm

Markets

Azerbaijan plans to increase oil output in 2021

The country also plans to produce 35.96 million tonnes of oil in 2022, 37.01 million tonnes in 2023 and 37.52 million tonnes in 2024.

Published 05 Jan, 2021 07:00pm

Business & Finance

OPEC+ resumes talks amid divide on February oil output levels

Russia favours output rise, some members want a cut.
New virus variants, lockdowns threaten demand.
Oil recovery hopes supported by vaccine rollouts.

Published 05 Jan, 2021 06:38pm

Business & Finance

OPEC+ resumes talks after February split on oil output

Russia favours output rise, some members want a cut.
New virus variants, lockdowns threaten demand.
Oil recovery hopes supported by vaccine rollouts.

Published 05 Jan, 2021 05:36pm

Markets

Most OPEC+ producers oppose Feb output increase

OPEC+ to debate need to increase output.
New virus variant, lockdowns threaten demand.

Published 04 Jan, 2021 07:05pm

Markets

OPEC ready to adjust oil output increases: Barkindo

OPEC+ first cut output by 9.7 million bpd, then eased cuts to 7.7 million and ultimately to 7.2 million from January.

Published 03 Jan, 2021 08:57pm

Gainers
Losers
Leaders

Stock	Price
786 Investments / Mar 1 786 Investments Limited(786)	10.14 ▼ 0.00 (0.00%)
AL- Abbas / Mar 1 Al-Abbas Sugar Mills Limited(AABS)	355.00 ▼ 0.00 (0.00%)
Agro Allianz / Mar 1 Agro Allianz limited(AAL)	11.10 ▼ 0.00 (0.00%)
AL-Abid Silk / Mar 1 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Mar 1 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Mar 1 Allied Bank Limited(ABL)	80.52 ▼ 0.00 (0.00%)
Abbott Lab. / Mar 1 Abbott Laboratories (Pakistan) Limited(ABOT)	759.20 ▼ 0.00 (0.00%)
Abson Ind. / Mar 1 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Attock Cement / Mar 1 Attock Cement Pakistan Limited(ACPL)	189.73 ▼ 0.00 (0.00%)
Adam Sugar / Mar 1 Adam Sugar Mills Limited(ADAMS)	30.06 ▼ 0.00 (0.00%)

Stock	Price
786 Investments / Mar 1 786 Investments Limited(786)	10.14 ▼ 0.00 (0.00%)
AL- Abbas / Mar 1 Al-Abbas Sugar Mills Limited(AABS)	355.00 ▼ 0.00 (0.00%)
Agro Allianz / Mar 1 Agro Allianz limited(AAL)	11.10 ▼ 0.00 (0.00%)
AL-Abid Silk / Mar 1 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Mar 1 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Mar 1 Allied Bank Limited(ABL)	80.52 ▼ 0.00 (0.00%)
Abbott Lab. / Mar 1 Abbott Laboratories (Pakistan) Limited(ABOT)	759.20 ▼ 0.00 (0.00%)
Abson Ind. / Mar 1 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Attock Cement / Mar 1 Attock Cement Pakistan Limited(ACPL)	189.73 ▼ 0.00 (0.00%)
Adam Sugar / Mar 1 Adam Sugar Mills Limited(ADAMS)	30.06 ▼ 0.00 (0.00%)

Stock	Volume

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Feb 27	158.10
USD PKR Interbank Buying / Feb 27	158.00
USD to Japanese Yen / Feb 27	106.57
USD to Swiss Franc / Feb 27	0.91
Pound Sterling to USD / Feb 27	1.39
Euro to USD / Feb 27	1.21
UK LIBOR % / Feb 27	0.08

Stock	Volume
S&P 500 / Feb 27	3811.15
India Sensex / Feb 27	49099.99
Tokyo Nikkei / Feb 27	28966.01
Nasdaq / Feb 27	13192.35
Hang Seng / Feb 27	28980.21
FTSE 100 / Feb 27	6483.43
Dow Jones / Feb 27	30932.37
Germany DAX 30 / Feb 27	13786.29
France CAC40 / Feb 27	5703.22

Item	Value
Crude Oil / Feb 27	61.50
Karachi Cotton Assoc. / Feb 27	12200.00
Gold 10 Grams / Feb 27	94564.00
Gold Spot / Feb 27	1728.80
Cotton / Feb 27	88.83

oil output

Indian Oil plans $4.5bn Panipat refinery expansion by Sept 2024

Oil extends losses as Texas prepares to ramp up output

Saudi Arabia set to raise oil output amid recovery in prices: WSJ

IEA says oil market fragile, cites virus restrictions

Shell unveils green strategy after oil output peak

Oil hits 13-month highs on supply cuts, weak dollar

Oil hits highest in a year on growth hopes, OPEC+ cuts

Lundin says drilling at Arctic Bask prospect resulted in dry well

Iran's Zarif open to oil, Gulf security contacts with US, not on Israel

Even without Keystone XL, US set for record Canadian oil imports

Brazil government postpones to November plans to license 'transfer of rights' oil blocks

Oil prices rise as investors look to higher demand seen in second half

Oil mixed as Chinese data offsets coronavirus fears

Oil prices ease as pandemic outweighs Chinese and US data

Russia's OPEC+ deal compliance at 95-96pc in Dec

Oil steadies as US inventory fall tempers demand woes

IEA says oil market outlook clouded by vaccine roll-out variables

Oil hits 11-month high towards $57 as Saudi cut supports

Kazakhstan's daily oil output down by 11pc on Jan. 11 amid power outages

OPEC December oil output rises for sixth month led by Libya: survey

Oil prices up $1 on OPEC output cut talks, Iran tension

Azerbaijan plans to increase oil output in 2021

OPEC+ resumes talks amid divide on February oil output levels

OPEC+ resumes talks after February split on oil output

Most OPEC+ producers oppose Feb output increase

OPEC ready to adjust oil output increases: Barkindo

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