Production
News
January 05, 2024
The African nation’s December exit from OPEC came after the group imposed a much lower production limit. The tighter cap was too much for Angola, which is making efforts to boost investment after many years of underinvestment and production decline.
News
January 04, 2024
OPEC pumped an average of 28.05 MMbpd in December as it persevered with supply restraints agreed earlier in the year, according to a Bloomberg survey. Reductions by the United Arab Emirates and Angola were offset by other countries such as Nigeria.
News
January 03, 2024
OPEC+ agreed at its last meeting in November to deepen existing production cuts this quarter by around 900,000 bpd.
Article
December 2023
The persistent challenges of well control, spanning from drilling to production, highlight the critical need for enhanced preparedness and proactive measures. The integral role of Well Control System Surveys is critical in preventing catastrophic incidents and fostering a culture of safety and efficiency within the industry.
News
January 02, 2024
Chevron Corp. will book fourth-quarter charges of $3.5 billion to $4 billion, citing assets it sold in the Gulf of Mexico and policies in California prompting the company to slash investments in the state.
News
December 31, 2023
In total, Duvernay Energy will have exposure to about 200,000 gross acres in the liquids rich and oil windows with roughly 500 gross future well locations.
News
December 23, 2023
OPEC nations Iraq, Nigeria and the Republic of Congo affirmed their commitment to the oil-producer group following the exit of Angola last week.
News
December 22, 2023
Equinor and SOCAR (State Oil Company of Azerbaijan Republic) have signed an agreement whereby Equinor will divest all its remaining assets in Azerbaijan to SOCAR.
News
December 22, 2023
The company’s four-part project strategy is evolving to accelerate the significant commercial opportunity offered by Project III, focused on the multi-Tcf undeveloped gas resource within the Lower Eocene and Upper Cretaceous reservoirs of Blocks XIB and XIF.
News
December 21, 2023
Harbour Energy has agreed to acquire Wintershall Dea's exploration and production business, including its producing and development assets, exploration rights, and carbon capture and storage licenses in various countries, for $11.2 billion.
News
December 21, 2023
Angola announced it’s leaving OPEC following 16 years of membership amid a dispute over oil production quotas, while the cartel tries to buoy global prices.
Article
December 2023
To increase efficiency and reach HSE goals, a manufacturer streamlined the connection of the pressure control tool string to the wellhead, using a hydraulically controlled latching system. This innovation eliminates the need for human intervention during connection, thereby minimizing risk of injury, while increasing operational efficiency and reducing rig-up/rig-down costs.
News
December 16, 2023
Tokyo Gas Co. said its subsidiary Tokyo Gas America Ltd. will purchase Rockcliff Energy II LLC for about $2.7 billion in a move to expand its U.S. shale gas operations.
News
December 14, 2023
Oil and gas will play an instrumental role in Africa’s economy for decades to come, and as such, African producers will not agree to any phase-out of these resources.
News
December 13, 2023
Africa still needs time – time that the Western world has already had and, frankly continues to milk – to resolve energy poverty and industrialize.
News
December 13, 2023
Non-OPEC supplies will increase by 700,000 bpd each year to 2030 — rather than the declines the consultant previously forecast — thanks to growth in the U.S., Guyana and Brazil.
News
December 12, 2023
OPEC+ will need to maintain its latest oil production cuts throughout next year in order to keep the global market in balance, according to Citigroup Inc.
News
December 10, 2023
Traders are more jittery than ever about the outcome of Chevron Corp.’s proposed $53-billion takeover of Hess Corp. as Venezuela threatens to seize mineral-rich regions in neighboring Guyana.
News
December 08, 2023
WesternZagros, a privately held American company with offices in Calgary, Canada, and Erbil and Sulaymaniyah in the Kurdistan region of Iraq, has officially become a member of APIKUR.
News
December 08, 2023
The American Petroleum Institute (API) has called on the Biden administration to recognize the important role that Alaska plays in U.S. energy security and support the continued development of energy resources in the National Petroleum Reserve.
News
December 07, 2023
Chevron Corp. followed competitor Exxon Mobil Corp. in raising planned capital spending as the biggest U.S. oil operators seek to increase long-term crude production.
