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OPEC Production vs Capacity Chart

Spare Capacity (mln b/d) - Crude Production (mln b/d) -
Country Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017
1 4.8 4.5 4.5 4.9 4.9 4.1 3.6 3.8 4.0 3.0 3.1 3.2 3.0 2.8 2.2 2.4 1.4 1.2 0.7 1.0 30.45 30.80 30.47 29.77 30.00 30.10 30.53 30.52 30.48 31.79 31.74 32.35 32.56 32.99 33.54 33.94 31.88 32.22 32.71 32.53

OPEC Production by Country

Crude Production (mln b/d) -
Country Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017
Algeria 1.08 1.14 1.15 1.13 1.11 1.11 1.12 1.11 1.10 1.09 1.12 1.12 1.05 1.06 1.06 1.00
Angola 1.58 1.63 1.72 1.72 1.77 1.76 1.77 1.78 1.77 1.74 1.73 1.61 1.64 1.64 1.67 1.68
Ecuador 0.53 0.56 0.56 0.55 0.55 0.55 0.53 0.53 0.54 0.55 0.55 0.54 0.53 0.53 0.54 0.54
Equatorial Guinea2 - - - - - - - - - - - - - 0.083 0.124 0.135
Gabon - - - - - - - - - 0.22 0.22 0.22 0.20 0.20 0.20 0.20
Indonesia6 - - - - - - - 0.67 0.71 0.74 0.74 0.747 -8 -9 -10 -11
Iran 2.81 2.83 2.78 2.80 2.82 2.85 2.87 2.88 3.15 3.59 3.67 3.77 3.79 3.77 3.83 3.81
Iraq 3.26 3.33 3.22 3.48 3.49 4.22 4.24 4.17 4.28 4.29 4.41 4.62 4.43 4.47 4.50 4.44
Kuwait12 2.77 2.80 2.84 2.78 2.80 2.77 2.78 2.73 2.83 2.82 2.89 2.86 2.70 2.71 2.70 2.70
Libya13 0.37 0.23 0.58 0.67 0.37 0.46 0.38 0.43 0.36 0.32 0.31 0.57 0.66 0.71 0.94 0.99
Nigeria14 1.95 1.91 1.87 1.88 1.81 1.78 1.80 1.90 1.76 1.52 1.39 1.44 1.40 1.49 1.64 1.56
Qatar 0.71 0.71 0.72 0.68 0.67 0.66 0.64 0.67 0.66 0.66 0.64 0.64 0.61 0.62 0.60 0.60
Saudi Arabia15 9.73 9.72 9.81 9.64 9.86 10.33 10.29 10.21 10.21 10.32 10.62 10.55 9.90 9.98 9.99 10.05
UAE 2.76 2.77 2.81 2.76 2.84 2.87 2.92 2.89 2.81 2.91 3.09 3.13 2.93 2.93 2.93 2.92
Venezuela 2.45 2.48 2.48 2.44 2.39 2.43 2.40 2.38 2.36 2.22 2.15 2.13 2.04 2.02 1.99 1.91
Total16 30.00 30.10 30.53 30.52 30.48 31.79 31.74 32.35 32.56 32.99 33.54 33.94 31.88 32.22 32.71 32.53

OPEC Country News

Trading and Operations Update
Premier Oil (January 11, 2018)
Shell Sells Stake in Iraq Oilfield to Japan's Itochu
Royal Dutch Shell (January 10, 2018)
ADNOC’s Sour Gas Hail, Ghasha and Dalma Project
ADNOC (January 09, 2018)
ShaMaran Petroleum Corp.: Atrush Production Update
ShaMaran Petroleum Corp (January 08, 2018)
Response to Announcement from Soco International Plc
Kuwait Energy (January 08, 2018)
Increase in Oil Reserves at Tortue Field, Dussafu PSC
Panoro Energy ASA (January 08, 2018)
Otakikpo Update: Contract Signed to Acquire 3d Seismic for Phase Two
Lekoil Limited (January 04, 2018)
Qatar Petroleum Announces Successful Merger of Qatargas and Rasgas for LNG Operations
Qatar Petroleum (January 03, 2018)
Paus Biru-1 Exploration Well Approval
Cue Energy Resources Limited (December 27, 2017)
Kuwait Signs LNG Supply Deal with Royal Dutch Shell
Kuwait Petroleum Corporation (December 24, 2017)
Recommended Acquisition of Awe by Mineral Resources
AWE Limited (December 21, 2017)
Velcan: Sale of the Sukarama Hydropower Project in Indonesia
Velcan SA (December 21, 2017)
Acquisition of AWE Limited
Mineral Resources Limited (December 21, 2017)
Qatargas Signs Deal to Deliver LNG to Austria's OMV via the Netherlands
Qatar Petroleum (December 20, 2017)
ADES Signs PSA for Three Operational Offshore Jack-up Rigs in the Arabian Gulf
ADES Group (December 20, 2017)
Algeria's Sonatrach Signs $500mm Deal with Bp, Statoil
Sonatrach (December 20, 2017)
Canacol Energy Ltd. Sells Interest in Ecuador Oil Consortium for Cash Proceeds of Us$ 36.4 Million
Canacol Energy Ltd. (December 19, 2017)
Sonangol and Cobalt Announce US$500 Million Settlement
Sonangol (December 19, 2017)
Gazprom Inks Documents for LNG Cooperation in Iran
Gazprom (December 13, 2017)
BASF and Letterone Sign Letter of Intent to Merge Their Oil and Gas Subsidiaries Wintershall and DEA
Wintershall (December 07, 2017)
Letterone and BASF Sign Letter of Intent to Merge Their Oil and Gas Businesses to Create Wintershall DEA
LetterOne Group (December 07, 2017)
Erin Energy Announces the Spud of Oyo-NW Well
Erin Energy Corporation (December 06, 2017)
DEA Signs Memorandum of Understanding in Algeria
DEA Deutsche Erdoel AG (December 06, 2017)
Definitive Arrangement Agreement Executed for Petrolia Energy's Acquisition of Bow Energy
Petrolia Energy Corporation (December 05, 2017)
New PGS 3D Seismic in North Madura Supports MIGAS Licensing Plan
PGS Overseas AS (December 05, 2017)
Vivo Energy and Engen Holdings Enter Into Share Transaction
Vivo Energy (December 04, 2017)
Angola: Total Paves the Way for New Projects in the Country
Total (December 04, 2017)
Otakikpo Update: Production Now at 7,600 Bopd; Focus Shifts to Phase Two Programme
Lekoil Limited (December 01, 2017)
Iraq Aims to Up Rumaila Oilfield Output to 1.5 Mln Bpd in 2018
CNPC (November 29, 2017)
Hess Completes Sale of Interests in Equatorial Guinea
Hess Corp (November 28, 2017)
Increased Interest in the Onshore Cabinda North Block
Soco International (November 28, 2017)
ENI Becomes Operator of Cabinda North and Strengthens its Presence in the Upstream, Downstream, Trading and Renewable Sectors in Angola
ENI (November 27, 2017)
The Following is an Update on the Status of the Fortuna FLNG Project, Equatorial Guinea.
Ophir Energy plc (November 23, 2017)
McDermott Awarded Next Phase of Safaniya EPCI Contract for Saudi Aramco
McDermott International, Inc. (November 21, 2017)
Venezuela Chooses Dutch-based Firm for Orinoco Oil JV
PDVSA (November 16, 2017)
Opuama Operations Update
Eland Oil & Gas PLC (November 15, 2017)
Seven Energy Transaction Update
Savannah Petroleum Plc (November 15, 2017)
Seven Energy Announces Terms of Capital Restructuring
Seven Energy (November 15, 2017)
Sonoro begins drill stem testing on Indonesia’s LG-1 Updip well
Sonoro Energy (November 14, 2017)
National Energy Services Reunited Corp. to Acquire Gulf Energy SAOC and National Petroleum Services
National Energy Services Reunited Corp. (November 12, 2017)
DNO Flows Peshkabir-3 Well - Reports Strong Third Quarter Results
DNO ASA (November 09, 2017)
Sale of 100% Equity Interest in Petrobras Oil & Gas B.v.: Opportunity Disclosure - Teaser
Petrobras (IFRS US$ Current) (November 07, 2017)
Eland Oil & Gas Provides Update on Opuama-7 and Opuama-8 Wells
Eland Energy Inc. (November 07, 2017)
Acquisitions and Dispositions
Marathon Oil Corp. (November 02, 2017)
Shell Completes Sale of Gabon Onshore Interests for USD $628 Million
Royal Dutch Shell (November 01, 2017)
Carlyle-backed Assala Energy Completes Acquisition of Shell Gabon Onshore Assets
The Carlyle Group LP (November 01, 2017)
Russia's Rosneft, Iran's NIOC Agree to Team Up on Oil and Gas Projects Worth $30 Billion
Rosneft (November 01, 2017)
Algonquin Power & Utilities Corp. to Form Global Clean Energy and Water Infrastructure Joint Venture and to Purchase 25% Interest in Atlantica Yield plc for US $608 Million
Algonquin Power & Utilities Corp. (November 01, 2017)
Range Resources Completes the Acquisition of Indonesian Oil Block
Range Resources Limited (October 30, 2017)
Global Infrastructure Partners Acquires Equis Energy for USD5.0 Billion in Record Renewable Energy Generation Acquisition
Global Infrastructure Partners (October 25, 2017)

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