Production
Article
September 2023
OPEC’s 1-MMbopd production cut, coupled with increased global demand, pushed crude prices to a nine-month high in September. Yet, U.S. operators have shown restraint, and according to World Oil’s mid-year forecast, this trend will continue, as activity is projected to decline slightly during second-half 2023.
Article
September 2023
Caution leads the way as Canada’s oil industry seeks to find the balance between burgeoning global needs for its ethically and sustainably produced energy and increasingly punitive policies from Ottawa that threaten industry’s ability to meet demand.
News
October 02, 2023
Angola, Africa’s third-biggest oil producer, pumped 3.27 MMboe in the second quarter, compared with 3.23 MMbbl in the three months through March, according to data compiled by Bloomberg.
News
September 29, 2023
The legislation guarantees access to oil and gas resources both on and offshore and ensures that the rights to domestic resource development are kept from being interrupted or administratively slowed down.
News
September 28, 2023
Traders are underestimating “that the Saudis will take their foot off the break sooner,” Bob McNally, the consultant’s president and a former White House official, told Bloomberg television on Thursday.
News
September 27, 2023
PetroVisor has already effectively integrated multi-source production and well testing data from fifty wells, resulting in enhanced production estimates, streamlined back allocation processes, and predictive insights powered by automated Decline Curve Analysis.
News
September 26, 2023
CEO Vicki Hollub said she hadn’t seen evidence of demand destruction yet. Even if oil prices do top $100 a barrel, she doesn’t expect them to stay there long enough to start eroding demand.
News
September 26, 2023
Energy policy needs to balance environmental concerns with affordability and reliability, and remain stable, Chevron CEO Mike Wirth said.
News
September 20, 2023
The Republican presidential candidate’s plan would encourage more domestic oil development, expand exports and make fossil fuel production central to national security and foreign policy priorities.
News
September 20, 2023
API urged EPA to align its complex methane regulations that apply to U.S. natural gas and oil operations and adopt a timeline for the final methane rule that accounts for the reality of supply chain delays for critical equipment needed in thousands of facilities in producing basins across the country.
News
September 19, 2023
The U.S. Energy Information Administration (EIA) expects U.S. crude oil production to surpass 12.9 MMbpd for the first time in late 2023 and to exceed 13 MMbpd in early 2024.
News
September 19, 2023
Both chief executive officers touted capturing and storing carbon as one of the best way to significantly reduce emissions from burning fossil fuels. They also stated that cutting oil usage too quickly would be dangerous, given the growing global demand for energy.
News
September 19, 2023
Alberta Premier Danielle Smith said the agency’s projection that the world must cut oil production by 75% in the next 30 years to achieve net-zero global carbon emissions was “ludicrous.”
Article
September 2023
A novel approach to engineering for upstream projects is producing significantly better outcomes. The innovative techniques are focusing more attention on the design and effective control of engineering workflows to reduce NPT and lower costs.
News
September 15, 2023
Libya had shut export ports in the east during the storm last weekend and had reopened them by Tuesday. NOC said then that oil production was running at 1.2 MMbpd.
News
September 14, 2023
DeSantis will promise to roll back President Joe Biden’s green policies, many of which are embedded in the Inflation Reduction Act, the people familiar said.
News
September 14, 2023
Cutting out fossil fuels “would lead to energy chaos on a potentially unprecedented scale, with dire consequences for economies and billions of people across the world,” Secretary-General Haitham Al-Ghais said Thursday in a statement.
News
September 13, 2023
The country, which vies with Qatar as the top shipper of super-chilled liquefied natural gas (LNG), is facing looming pressures on domestic energy supply amid coal-fired power station closures and a lack of developments to offset declining output.
News
September 13, 2023
Weeks before the overthrow of the president, Tullow gained approval to extend some of its licenses to 2046. It conducted a cashless asset swap earlier in the year with Perenco SA’s Gabon unit.
News
September 13, 2023
Even if the two producers were to relax their curbs in early 2024, oil inventories will be severely depleted, leaving prices vulnerable to shocks, the IEA said. Brent futures climbed to 10-month high above $92 a barrel on Tuesday.
News
September 12, 2023
World oil inventories, having depleted sharply this quarter, are set for an even steeper drop of roughly 3.3 MMbpd in the next three months, forecasts published in a report from the Organization of Petroleum Exporting Countries indicated on Tuesday.
