• 35 mins Iraq’s Giant Majnoon Oilfield Attracts Attention Of Supermajors
  • 3 hours South Iraq Oil Exports Close To Record High To Offset Kirkuk Drop
  • 6 hours Iraqi Forces Find Mass Graves In Oil Wells Near Kirkuk
  • 6 hours Chevron Joint Venture Signs $1.7B Oil, Gas Deal In Nigeria
  • 7 hours Iraq Steps In To Offset Falling Venezuela Oil Production
  • 9 hours ConocoPhillips Sets Price Ceiling For New Projects
  • 3 days Shell Oil Trading Head Steps Down After 29 Years
  • 3 days Higher Oil Prices Reduce North American Oil Bankruptcies
  • 3 days Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 3 days $1.6 Billion Canadian-US Hydropower Project Approved
  • 3 days Venezuela Officially In Default
  • 3 days Iran Prepares To Export LNG To Boost Trade Relations
  • 3 days Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 4 days Saudi Oil Minister: Markets Will Not Rebalance By March
  • 4 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 4 days Rosneft Announces Completion Of World’s Longest Well
  • 4 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 4 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 4 days Ecuador Seeks To Clear Schlumberger Debt By End-November
  • 4 days Santos Admits It Rejected $7.2B Takeover Bid
  • 5 days U.S. Senate Panel Votes To Open Alaskan Refuge To Drilling
  • 5 days Africa’s Richest Woman Fired From Sonangol
  • 5 days Oil And Gas M&A Deal Appetite Highest Since 2013
  • 5 days Russian Hackers Target British Energy Industry
  • 5 days Venezuela Signs $3.15B Debt Restructuring Deal With Russia
  • 5 days DOJ: Protestors Interfering With Pipeline Construction Will Be Prosecuted
  • 5 days Lower Oil Prices Benefit European Refiners
  • 5 days World’s Biggest Private Equity Firm Raises $1 Billion To Invest In Oil
  • 6 days Oil Prices Tank After API Reports Strong Build In Crude Inventories
  • 6 days Iraq Oil Revenue Not Enough For Sustainable Development
  • 6 days Sudan In Talks With Foreign Oil Firms To Boost Crude Production
  • 6 days Shell: Four Oil Platforms Shut In Gulf Of Mexico After Fire
  • 6 days OPEC To Recruit New Members To Fight Market Imbalance
  • 6 days Green Groups Want Norway’s Arctic Oil Drilling Licenses Canceled
  • 7 days Venezuelan Oil Output Drops To Lowest In 28 Years
  • 7 days Shale Production Rises By 80,000 BPD In Latest EIA Forecasts
  • 7 days GE Considers Selling Baker Hughes Assets
  • 7 days Eni To Address Barents Sea Regulatory Breaches By Dec 11
  • 7 days Saudi Aramco To Invest $300 Billion In Upstream Projects
  • 7 days Aramco To List Shares In Hong Kong ‘For Sure’
Alt Text

Gold Prices Could Spike As India Resumes Imports

Gold purchases in India imploded…

Alt Text

Will Ecuador’s Mining Sector Return To Its Golden Days?

Despite the recent political problems…

Oil Output Here Just Hit An All-Time High

Oil Output Here Just Hit An All-Time High

It's rare these days to find a non-U.S. oil region that's actually upping production.

But news this week suggests that's the case in one far-afield locale: Pakistan.

Local media report that Pakistan's national oil output hit 92,905 barrels per day during March. Representing record output for the country.

This trend has been in motion for some time. With production for the nine months from July 2013 to March 2014 up 11%. To an average of 83,000 barrels per day.

All of those figures suggest Pakistan's petroleum output is continuing to surge. And perhaps even accelerating its growth.

The question is: why now?

The recent production numbers are striking when considered against the figures for the last decade. Which saw national oil output stuck between about 60,000 and 70,000 barrels per day since 2003.

It's only the last few years that E&Ps have begun to make headway in adding new production.

It may be that improving security and access are allowing drillers to finally get some scale in their exploration efforts here. It's also possible that import of oil field services technology has reached a tipping point, allowing the industry to modernize its drilling.

Whatever the reason, the rise in production is a notable data point. Suggesting that something has changed for the better here--at long last.

This could signal significant opportunities at hand. Especially for junior companies. While Pakistan holds some giant natural gas fields, the oil fields tend to be below the threshold size needed to attract big oil players.

But these pools are certainly large enough to have an impact for smaller companies. Perhaps we'll see more such firms looking here over the coming months and years.

Here's to finally making progress,

By Dave Forest




Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News