BP estimates 11-percent quarterly rise in oil production
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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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JEDDAH, 29 September 2004 - With oil prices soaring to record highs, Saudi Arabia announced yesterday it would increase its production capacity to 11 million barrels per day (bpd) within weeks in a bid to curb the prices.
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BP, the worldâs second-biggest oil company, said production over the third quarter would be about 3.88 million barrels a day. That was an 11 per cent rise on the same period the year before and was helped
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The No. 2 U.S. oil company reported a rise in quarterly profit pumped up by record oil and gas prices and gains on asset sales.
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THE UAE and Kuwait plan to increase oil production capacity by nearly 3,00,000 bpd and 2,00,000 bpd respectively in the short term in a bid to stabilise the market, which has been rocked by high oil prices touching $53 per barrel prior to the week end.
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BP Plc, the world&#39;s second-largest publicly traded oil company, said oil and gas production rose 11 percent in the third quarter, less than analysts expected, as storms in the US Gulf of Mexico restrained growth.
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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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Crude oil rose for a second day on concern about the loss of production and possible damage from Hurricane Ivan, which passed just east of most Gulf of Mexico production platforms.
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NEW YORK - Oil and gas futures rose yesterday on expectations the hurricane season will intensify and OPEC won't raise output when it meets next week.
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Oil prices rose to near $63 a barrel   on Friday, after BP Plc shut in output at an oil field in   Alaska and OPEC members Nigeria and Venezuela pledged to cut   production.
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BP Plc, the world's second largest oil  company, reported bumper third-quarter profits on Tuesday  thanks to high oil prices, but analysts said higher capital  expenditure plans raised some concerns about the extent of  future share buybacks.
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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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ChevronTexaco Corp.CVX.N, the No. 2  U.S. oil company, on Friday reported a rise in quarterly  profit, pumped up by record oil and gas prices and gains on  asset sales.
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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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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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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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Anheuser-Busch Cos Inc  reported a greater-than-expected 11 percent increase in quarterly profit on Wednesday, as the nation's largest brewer sold more beer at higher prices.