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Venezuela said on Tuesday that it would reduce its oil production by 95,000 bpd to support the producers deal to cut global output and strengthen crude prices. Jan. 1 marks the start of the pact by the OPEC and non-OPEC producers to reduce production by almost 1.8 mil bpd.
Libya has managed to boost its oil production to 622,000 bpd after armed factions agreed to lift a 2 year blockade on major western pipelines on 14 December, a report from the National Oil Corporation (NOC) said. Prior to the agreement, Libya’s output was at 600,000 bpd, having doubled since September. The NOC said that it could add a further 175,000 bpd to production within 1 month and 270,000 bpd within 3 months, after the pipelines from the Sharara and El Feel fields were reopened. Libya is one of two members of the OPEC exempted from a recent pledge to cut output.
Mexico's finance ministry said on Tuesday local gasoline prices will increase by as much as 20.1 pct from Jan. 1. as part of a fuel-sector-liberalization program that seeks to end years of government-set pump prices. In a statement, the ministry said the widely used Magna gasoline brand will rise 14.2 pct and will sell at retail at an average of 15.99 pesos a liter at, while Premium fuel will go up 20.1 pct to an average of 17.79 pesos a liter. Diesel is set to rise by 16.5 pct, with an average price of 17.05 pesos a liter. The ministry said it would set a maximum gasoline price through Feb. 3.

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For safety before traveling over the holidays.


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Photo Caption : PTT follows the King’s footstep on education by granting more than 2,500 Thai youth scholarships

With support education through scholarships PTT continuously since 2539 onwards