Business | Oil & Gas
UAE's crude output increases 0.38% in May
The UAE's crude output rose 0.38 per cent on the month to 2.66 million barrels per day (bpd) in May, the International Energy Agency (IEA) said in its latest report yesterday.
- By Himendra Mohan Kumar, Staff Reporter
- Published: 00:03 June 12, 2008
Abu Dhabi: The UAE's crude output rose 0.38 per cent on the month to 2.66 million barrels per day (bpd) in May, the International Energy Agency (IEA) said in its latest report yesterday.
The UAE pumped an average 2.65 million bpd in April and 2.54 million bpd of crude oil in March this year.
The report said the UAE has a sustainable oil production capacity of 2.85 million bpd and its production capacity at the end of 2008 is seen at 2.87 million bpd.
Officials at the Ministry of Energy and executives of the Abu Dhabi National Oil Company (Adnoc), the country's flagship oil and gas producer, were not immediately available for comment.
The combined oil production by all 13 Opec member countries averaged 32.30 million bpd in May, 1.22 per cent higher than the group's April output of 31.91 million bpd, said the agency, which advises 27 industrialised countries on energy policy.
Share this article
Popular in Business
-
Budget travel
Airlines in the region
Take a pictorial look at some of the budget airlines in GCC
Business Editor's choice
-
It costs a million to raise a child
Generation Z doesn't leave home at 18, but stay with the parents until mid-20s
-
Investing in funds doesn't come cheap
Many people are unaware of the effect of different expenses on their returns
-
Firm turns televised events into marketing dream
Drops anchor in Dubai to sell world's richest yachting races
