Iran oil exports above 2 mbpd

DUBAI: Iran’s oil exports have risen above 2 million barrels a day, the official news agency IRNA reported, citing Mohsen Ghamsari, director for international affairs at National Iranian Oil Company (NIOC). In March, NIOC said exports had reached 1.8 mbpd. Iran pledged to increase its oil production after sanctions were lifted in January and it has steadily increased its oil exports too. According to IRNA, Iran’s production is now running at 3.8 mbpd.

Libyan crude output at risk

BENGHAZI/LONDON: Libya’s crippled oil production appeared at risk of further decline after an escalating stand-off between rival eastern and western political factions prevented a cargo belonging to trading giant Glencore from loading. A Tripoli oil official warned the country’s oil output could fall by 120,000 barrels-per-day (bpd) if the Benghazi-based National Oil Corporation (NOC), set up by the eastern government, continues to block tankers loading for Tripoli from the eastern Marsa El-Hariga port.

Maersk risks losing Qatar field

LONDON: Denmark’s AP Moller-Maersk said for the first time there was a risk it could lose its largest oil producer, a 300,000 barrel per day Qatari field, and may not replace the production by buying other assets. Chief executive Nils Smedegaard Andersen’s comments give some insight into Maersk’s view of how the oil industry will evolve, after oil prices more than halved in the past two years. The recently-streamlined conglomerate still considers Maersk Oil as core to its business and for years the expectation was that the Qatar field would be part of this as Maersk would renew a 25-year production agreement when its licence ran out in 2017.

OMV signs MoU in Iran

VIENNA: Austria’s OMV signed a memorandum of understanding (MoU) with the National Iranian Oil Company (NIOC) as it looks to revive its activities in Iran. OMV chief executive Rainer Seele, who took the helm at Austria’s biggest company last July, has singled out Iran, Russia and the UAE in a push away from expensive North Sea field exploration. The deal signed in Tehran covers several areas from oil and gas field evaluation to crude oil and petroleum product swaps.