Production from giant South Pars natural gas field offshore Iran will increase to 730 million cu m/day next March from 575 million cu m/day at present following the recent or imminent start-ups of five development phases, according to Iranian Minister of Petroleum Bijan Zangeneh. Source: News

The International Energy Agency and other global organizations that were created in response to crude-oil supply disruptions in the 1970s may need to be refocused and reformed, a recent Atlantic Council report suggested. Source: News

Commercial potential for the Galoc Mid Area on Block C1 offshore the Philippines remains inconclusive according to Galoc Production Co. WLL, a subsidiary of Nido Petroleum Ltd., Perth. Source: News

The Texas Alliance of Energy Producers’ Texas Petro Index (TPI), a composite index based on a comprehensive group of upstream economic indicators, recorded its fourth consecutive monthly increase in March, indicating the Texas upstream economy “has embarked upon a new cycle of expansion.” Source: News

Wintershall Noordzee BV, Rijswijk, has started oil production from its first own-operated Danish oil field. Ravn field, on Block 5/06, produces oil from 4,000 m via a newly constructed production platform in the Danish North Sea, some 300 km north of the Dutch town of Den Helder. Source: News

McKinsey Energy Insights (MEI), an energy data and analytics specialist in London, has released its latest Global Oil Supply and Demand Outlook to 2030, which identifies five potential supply and demand scenarios. Source: News

Benchmark crude oil prices continued modest declines on the New York and London markets Apr. 18 as concerns persisted about oversupply from the US. The losses continued into early Apr. 19 after weekly inventory data released by the US Energy Information Administration failed to change market sentiment. Source: News