Eni raises oil price forecast to $105 per barrel in 2022
11:39 15.09.2022 4388
Eni management raised the forecast for the base price of Brent in 2022 from $80 to $105 per barrel and worsened the forecast for its own oil and gas production for the year, Interfax reports.
In the first half of 2022, Eni's oil and gas production averaged 1.6 million barrels of oil equivalent per day, down 2% from the same period last year, the company said in a report.
The decline was due to unplanned events such as force majeure on the Caspian Pipeline Consortium (CPC) export pipeline affecting production in Kazakhstan, plant shutdowns in Libya due to renewed internal clashes, and increased sabotage and theft of oil in Nigeria.
The company's oil production was 760,000 b/d, down 5% compared to the first half of 2021. Production cuts in Kazakhstan, Nigeria and Libya were partially offset by increases in Angola, Algeria and Italy, as well as a gradual relaxation of OPEC+ production quotas.
According to the updated plans, Eni's hydrocarbon production for the year is expected to reach 1.67 million boe/d compared to the previous forecast of 1.7 million boe/d.
New OPEC Secretary General to take office on August 1
OPEC's new Secretary General, Kuwait representative Haitham al-Ghais, will take office on August 1.
The work of the Interdepartmental Commission on the Caspian Sea was discussed at the Ministry of Foreign Affairs of Turkmenistan
The 63rd meeting of the Interdepartmental Commission of Turkmenistan on the Caspian Sea was held at the Ministry of Foreign Affairs on February 23. The meeting was attended by the relevant Vice-Chairmen of the Cabinet of Ministers of the country, the Director of the Caspian Sea Institute, heads of a number of ministries and specialized departments.
Turkmenistan started exporting gasoline A-98 of EURO-5 and EURO-6 standards
Turkmenistan has started exporting A-98 gasoline of EURO-5 and EURO-6 standards, the first batches were sold to entrepreneurs from the United Arab Emirates and Afghanistan.
The President of Turkmenistan and the Vice President of the UAE noted the active dynamics of cooperation in the energy, oil and gas and other spheres
The development of bilateral cooperation was discussed at a meeting on February 21 between the President of Turkmenistan Serdar Berdimuhamedov and the Vice President, Deputy Prime Minister, Minister of the Presidential Administration of the United Arab Emirates Sheikh Mansour bin Zayed Al Nahyan, who arrived in our country on a visit, TDH reports.
Liquefied gas and jet fuel were sold abroad at the auctions, and polypropylene and base oil were sold to the domestic market
27 transactions were registered at the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan last week.