Production
News
April 26, 2024
Azerbaijan, host of this year’s COP29 climate summit, will continue to invest in increasing natural gas production in order to feed demand from Europe as its president said that its abundant oil and gas resources were a “gift from God.”
News
April 26, 2024
Adjusted first-quarter profit of $2.93 a share was 3 cents higher than the average of analyst estimates in the Bloomberg Consensus. Crude-oil production of almost 2 MMbpd exceeded forecasts.
News
April 26, 2024
The new fields, Tomoporo and La Ceiba, contain more than 5 Bbbl of oil and are part of a venture in which Repsol holds a 40% stake and PDVSA holds the remainder.
News
April 25, 2024
The final phase of TCO’s expansion project, FGP, is on track to conclude in the first half of 2025. This will enable TCO to expand Tengiz crude oil production by an incremental 12 MMtpa (260,000 bpd).
News
April 25, 2024
EQT now sees its sales volume for the year at 2,100 to 2,200 Bcfe, down from 2,200 to 2,300, the company said in a Tuesday earnings statement. That’s based on production curtailments of 1 Bcfd through May, with the potential to lower output even further, depending on the market.
News
April 25, 2024
Cnooc lifted production by 9.9% to 180.1MMboe, another record, in the first three months. Overseas production rose 17%, mainly from increases in Canada and Guyana.
News
April 25, 2024
This month, Nigerian National Petroleum Co. Ltd. (NNPC) restarted production from Nigeria’s Awoba field and began production from the country’s Madu field, adding 32,000 bpd to the country's production.
News
April 24, 2024
The hearing examined the challenges faced by American energy producers, including regulatory uncertainty caused by administration policies, and highlighted career training opportunities aimed at growing the energy workforce.
News
April 23, 2024
The fund projects Saudi oil production will reach 10 MMbpd in early 2025, from what’s now a near three-year low of 9 MMbbl. Saudi Arabia says its production capacity is around 12 MMbpd and it’s rarely pumped as low as today’s levels in the past decade.
News
April 22, 2024
SLB introduced two advanced artificial lift systems: The Reda Agile compact wide-range electric submersible pump (ESP) system and the rodless Reda PowerEdge electric submersible progressing cavity pump (ESPCP) system.
News
April 19, 2024
The two companies are already partners in exploration blocks in the Exploration & Production segment, including Alto de Cabo Frio Central, Campos basin, and Barreirinhas basin, all operated by Petrobras.
News
April 15, 2024
A total of 50 so-called “zombie” fires still smoldering beneath layers of snow are located near oil and gas wells and other production facilities. Those sites yield natural gas equivalent to about 80,000 bpd of oil in Canada’s energy heartland of Alberta alone, in addition to almost 14,000 bpd of crude.
News
April 10, 2024
Colombian President Gustavo Petro said the oil and gas would be developed in Venezuelan fields near the Colombian province of Norte de Santander, while electricity would be provided from La Guajira province on Colombia’s Caribbean coast.
News
April 09, 2024
Oil production hit a record 1.92 Bbbl in 2023, which was 51 MMbbl more than the previous record. Operators produced 12.01 Tcfg in 2023, beating the previous record by more than 13%.
News
April 09, 2024
Enverus Intelligence Research (EIR), a subsidiary of Enverus, has released a new report highlighting the organization’s view that it does not expect global oil demand to peak or plateau by the end of the decade.
News
April 07, 2024
On Feb. 27th, 2024, the SPT-129 workover rig mobilized from the SJ-01 well to the SJ-06 well with a workover program designed to open an additional 12.4 m across 3 zones in the Tutoia formation.
Webcast
Achieving successful production automation
May 01, 2024
Baker Hughes
Want to improve recovery from existing resources? Need to boost production from underperforming and mature fields? Looking to increase ROI without additional CAPEX? For many, production automation offers the answer. But in a world where many operators are still struggling through well management in Excel spreadsheets, it’s difficult to know where to begin.
Successful production automation requires a balance of technology, change management, and process optimization. In this webcast, you will learn how one operator achieved double-digit production uplift and revolutionized their field operations using an automated field production solution.
News
April 04, 2024
A panel of key members led by Saudi Arabia recommended no policy changes at an online review meeting on Wednesday, according to a statement posted on the group’s website. That means roughly 2 MMbpd of production curbs will remain in place until the end of June.
News
April 03, 2024
OPEC’s second-biggest producer pumped 4.17 MMbpd last month, 30,000 bpd less than in February. While that’s Iraq’s lowest output level this year, it’s still about 170,000 bbl more than pledged as the alliance curbs production to prop up the market.
News
March 31, 2024
India — the third-largest crude importer and Moscow’s second largest buyer after China — is the latest market seeing an influx of U.S. oil. American shipments to India are set to jump in March to the highest in nearly a year, according to data from crude tracking firm Kpler.
News
March 28, 2024
Market sentiment still lacks the exuberance of early 2023, when traders widely proclaimed the return of $100 oil, but Wall Street banks like Morgan Stanley and trading giants such as Trafigura Group are predicting further price gains.
