BP estimates 11-percent quarterly rise in oil production
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British 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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Crude oil futures rose above $42 a barrel Wednesday after government data showed an increase in US fuel supplies. Traders were also focused on an upcoming OPEC meeting at which the group could
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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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Record oil prices lifted Exxonâs fourth-quarter earnings to $11.66 billion, the highest ever operating profit by a U.S. company.
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LONDON (CBS.MW) - British oil major BP Monday said third quarter production rose 11 percent on the year-ago quarter to 3.88 million barrels of oil equivalent a day, missing some analyst expectations for a rise of as much as 14 percent.
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JEDDAH, 30 November 2004 - Saudi Arabia plans to raise its oil production capacity to 12.5 million barrels per day from the current 11 million bpd over the next few years, Petroleum and Mineral Resources Minister Ali Al-Naimi said yesterday.
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Saudi Arabia will increase oil production capacity to 11 million barrels per day (bpd) in a bid to curb soaring prices, Oil Minister Ali al-Nuaimi has said.
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The French oil giant said fourth-quarter profit rose 62% to 3.6 billion euros ($5.23 billion) as oil prices rose and and new projects in Angola and Qatar raised production.
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Exxon Mobil Corp. XOM.N, the world's  largest publicly traded oil company, on Thursday reported a  rise in quarterly profit, driven by soaring oil and gas prices  in the quarter.
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Corning Inc., the specialty glass maker, said that its fourth-quarter profit rose 11 percent, topping expectations.
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BP PLC reported an 11 percent increase in production for the third quarter on Monday, which may help its profit results over the same period.
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U.S. crude surged $2 to above $76 a  barrel on Monday as BP began shutting an Alaskan field that  pumps 8 percent of U.S. oil and anxiety over the Middle East,  supplier of almost a third of the world's oil, ran high.
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World oil prices climbed on Monday as  companies operating in the U.S. Gulf of Mexico braced for  output disruptions from powerful Hurricane Ivan.
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Crude oil futures rose on concern Hurricane Ivan may disrupt production, refining and the arrival of shipments as it moves into the Gulf of Mexico, where a quarter of US oil and natural gas is pumped.
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Oil prices headed up toward $45 a  barrel on Wednesday as Hurricane Ivan shut 60 percent of crude  output in the Gulf of Mexico and at least five refiners along  the U.S. coast planned to close as a precaution.
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That&#39;s according to the Lundberg Survey. It cites an increase in crude oil supplies combined with the recovery of US offshore oil production after Hurricane Ivan.
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Independent oil and gas producer Devon Energy Corp.  said on Friday it expects fourth-quarter production to rise 7 percent from the year-ago level to about 57 million barrels of oil equivalent (boe).