Production
News
May 28, 2021
For the first time in decades, oil companies aren’t rushing to increase production to chase rising oil prices as Brent crude approaches $70. Even in the Permian, the prolific shale basin at the center of the U.S. energy boom, drillers are resisting their traditional boom-and-bust cycle of spending.
News
May 25, 2021
The award, which marks Sparrows first large contract in the Pilbara region of Western Australia, will see the company hire local personnel including lifting engineers, mechanical and electrical technicians, rope access, inspectors and crane supervisors.
News
May 24, 2021
Shell Oil Company has reached an agreement for the sale of its interest in Deer Park Refining Limited Partnership, a 50-50 joint venture between Shell Oil Company and P.M.I. Norteamerica, S.A. De C.V., a subsidiary of Pemex, for a total consideration of $596 million.
News
May 21, 2021
The pipeline at the center of a years-long battle between oil companies and the Standing Rock Sioux tribe may remain in service even though it lacks a valid federal easement for a water crossing in North Dakota, the U.S. District Court for the District of Columbia said Friday.
News
May 18, 2021
“The so-called CLEAN Future Act is nothing more than the Green New Deal in lipstick,” said Texas Railroad Commissioner Wayne Christian. “This legislation would effectively federalize regulation of oil and gas, increasing costs to consumers and our national debt, while harming our energy independence and national security.”
News
May 18, 2021
“The balance of risks and rewards associated with our onshore portfolio is no longer compatible with our strategic ambitions,” Shell CEO Ben van Beurden told investors at Shell’s annual general meeting on Tuesday.
News
May 16, 2021
The Environmental Protection Agency ordered the shutdown of a U.S. Virgin Island refinery that historically was positioned as a key fuel source for the East Coast due to public health concerns.
News
May 02, 2021
An Arctic cold blast that swept through the U.S. South in February caused a much bigger loss in oil supply than previously estimated, with output falling to a three-year low, according to U.S. government data.
News
April 26, 2021
Hedging remains a mainstay activity for many oil and gas producers, and some crude producers are hedging their crude production farther out into the future than they have in recent history.
News
April 22, 2021
Kayrros has released measurements quantifying the total methane emissions across the Appalachian Basin. The findings, derived from satellite data and proprietary algorithms, place the Appalachian Basin ahead of the Permian as the biggest source of methane in the US and identify the primary sources behind its emissions.
News
April 20, 2021
Libya’s oil production has fallen below 1 million barrels a day for the first time in months as a budgetary dispute hinders the OPEC member’s ability to fix war-damaged infrastructure.
News
April 16, 2021
BP will spend about $1.3 billion to build a network of pipelines and other infrastructure to collect and capture natural gas produced as a byproduct from oil wells in the Permian Basin of Texas and New Mexico, the Wall Street Journal reported.
News
April 16, 2021
Shale, and not the pandemic, was responsible for the initial oil-market crash of 2020, Pioneer Natural Resources CEO Scott Sheffield said at an industry summit. He added that the cartel, frustrated at U.S. producers’ success in taking market share from OPEC, allowed prices to tumble.
News
April 15, 2021
Iraq’s oil ministry took the unusual step of saying it’s in talks with U.S. companies about the possibility of them buying Exxon’s 32.7% stake in the field in southern Iraq, near the city of Basra.
News
April 10, 2021
Saudi Arabia will supply all the crude oil that was requested by India’s state-owned refiners and at least five other Asian customers next month as the linchpin producer starts to ramp up output.
News
April 10, 2021
Total CEO Patrick Pouyanne called the pacts a historic milestone for the production work and export pipeline that will draw more than $10 billion of investment. “It’s a very large development, one of the largest that will be developed on this continent,” though just the beginning of a process that will see oil flow in early 2025, he said.
News
April 09, 2021
Argentina believes a price ceiling would prevent bull runs in oil markets from triggering a surge in fuel prices, while a price floor would discourage oil companies from pulling out of a marginal asset like Vaca Muerta if markets collapse.
News
April 09, 2021
The Biden administration’s decision to allow the line to keep operating is a victory for pipeline owner Energy Transfer LP and drillers such as Continental Resources Inc. that use it transport crude from North Dakota’s Bakken oil field.
News
April 09, 2021
The final investment decision on a key pipeline will see Total tap more than a billion barrels of crude from Uganda and ship it across East Africa to the coast. A decision on the development of the oil fields feeding the pipe is likely at the same time.
News
March 24, 2021
Equinor has awarded Tenaris the supply of tubulars for the Northern Lights CO2 transport and storage facilities in Norway. From its Dalmine mill in Italy, Tenaris will produce 105km 12” Carbon Manganese (C-Mn) seamless line pipe for the milestone project.
News
March 12, 2021
A round-up of data on shale drillers shows they’re sticking to their pledge to cut costs, return money to shareholders and reduce debt. If they stay the course, it would validate the OPEC+ alliance’s high-stakes wager that it can curb output and drive crude prices higher without unleashing an onslaught of supply from U.S. rivals.
