OPEC Production Up 773K/bpd

Wednesday, April 26, 2000
OPEC oil production looks likely to rise by 773,000 barrels a day in April including 225,000 bpd from Iraq, a leading tanker tracker told clients on Wednesday. Petrologistics said preliminary expectations for OPEC supply in April were 27.555 million bpd compared to 26.782 million bpd in March. It said the 10 OPEC members that eased supply restraints in April were likely to pump 25.005 million bpd from 24.457 million in March -- a rise of 548,000 bpd. Under OPEC's old deal that expired in March the Petrologistics figures put leakage at 1.481 million bpd and compliance with 4.316 million bpd of supply curbs at 66 percent. Under the new higher output target, and including Iran, leakage is 313,000 bpd and compliance with the remaining 2.6 million bpd of supply restraint is 88 percent, according to the Petrologistics data.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Transocean Posts Quarterly Profit on Cost Cutting

Offshore rig contractor Transocean Ltd posted a quarterly profit, compared with a year-earlier loss, as cost cutting helped counter a slump in crude oil prices.

Skandi Paraty Delivered and On-hire

Skandi Paraty, owned by Norskan Offshore Ltda, has been delivered from the yard and went on-hire on a four years contract with Petrobras.   Skandi Paraty is an AHTS,

ABB Transformers for the Most Powerful Wind Turbines

ABB will deploy 40 special transformers to equip wind turbines for an offshore wind farm in the Irish Sea. The MHI Vestas Offshore Wind turbines are 195 m (640

Ports

Port of Oakland Boosts Night, Weekend Work

Subsidy extended, largest marine terminal adds functions to night gates   A $1.5 million subsidy program to stimulate night and weekend business at the Port of Oakland has been extended.

FMC Chairman Applauds USCG Statement on Container Weights

Federal Maritime Commission (FMC) Chairman Mario Cordero commended the Coast Guard for issuing a bulletin last week regarding container weights that he hopes allows

Port of Vancouver CEO Coleman to Step Down

Todd Coleman, CEO of Port of Vancouver USA, step down from his position May 19, after 15 years with the port.   Coleman, a Professional Engineer, began his career with the port in 2001,

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0586 sec (17 req/sec)