BP expects 10.0 percent annual rise in daily oil output
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British oil giant BP said its average daily production for 2004 was expected to be around 3.995 million barrels of oil equivalent, an increase of more than 10 percent compared with a year earlier.
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OPEC will increase oil production by 500,000 barrels a day to meet an expected surge in winter consumption.
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BP Plc expects to restart on Monday 10,000 barrels per day of Alaskan oil production at its giant Prudhoe Bay oil field, halted June 18 for a pipe leak, a BP spokesman said.
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A refinery on the Thames Estuary which produces 10 million tonnes of fuel a year is sold by owners BP.
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Oil and gas deep under the Gulf of Mexico should boost Gulf production considerably over the next decade, the government says. New deep-water wells poised to start production
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LONDON  - British energy giant BP PLC said Wednesday that oil and gas production rose four per cent in the fourth quarter of 2004, largely due to higher output from Russia, but added that higher taxes there would take a chunk out of earnings.
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British energy giant BP said that it expected to resume full production by the end of October of 400,000 barrels of oil a day from Prudhoe Bay, the biggest US oil field.
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Oil giant BP reports a 15% rise in annual profits, buoyed by high crude prices in the first half of the year.
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BP Plc BP.L will be able to restart   105,000 barrels per day of oil production from the eastern side   of Prudhoe Bay within "a few weeks" after Alaska regulators   approved on Friday the oil major's plan to connect the field to   the nearby Endicott pipeline.
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Chevron Corp.  said on Tuesday its new oil and natural gas projects will produce about 1.1 million barrels of oil equivalent per day by 2011, and it will keep exploration spending high in the coming years.
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OPEC, which pumps more than a third of the world&#39;s oil, is considering raising its oil-output targets at a meeting this week in Vienna, although that wouldn&#39;t necessarily mean more oil production, the Wall Street Journal
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The U.S. government's top energy forecaster on Tuesday said it raised its estimate for world crude prices in 2010 by about 20 percent to near $60 a barrel due to delays bringing new oil fields on line.
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OPEC will increase its official oil production target by one million barrels a day later this year in a move widely viewed as more symbolic than significant, given that the cartel has been exceeding the new output limit all year.
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Energy giant BP said that overall production of its oil products during the third quarter was expected to rise by 11 percent from the equivalent figure last year, helped by its Russian operations.
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OPEC agreed today to increase its crude output by 500,000 barrels a day in an effort to calm jittery markets.
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OPEC members were expected to increase the cartel's production during a meeting Wednesday by 1 million barrels a day to meet the global demand for oil. But analysts contended that any decision by the group would likely have little effect on high oil prices.
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Oil held firm above $96 a barrel on Monday, heading for its biggest annual gain this decade as growing geopolitical concerns and dwindling consumer nation stockpiles outweighed the risk of a softening U.S. economy.