Production
News
October 09, 2023
Israel ordered the shutdown of a major gas field run by Chevron Corp., citing safety concerns following three days of violence in the region.
News
October 05, 2023
“The 2023 forecast has been further revised downward in the past 12 months following the oil-production cuts announced by OPEC+ in October 2022 and April 2023, and the additional cuts announced by Saudi Arabia in June 2023,” according to the report.
News
October 05, 2023
The acquisition adds 61,000 bpd of net bitumen production capacity and 675 MMbbl of proved and probable reserves to Suncor's existing oil sands portfolio.
Article
September 2023
International activity outside the U.S. continues its growth, as most regions will see a pick-up in drilling. Global oil production posted an unusually stout increase last year, and another solid gain is anticipated this year. Offshore activity is particularly healthy in several regions.
News
October 04, 2023
The revisions proposed by the Commission under Chapter 4 and Statewide Rule 8 reflect the Commission’s mission to serve Texas through stewardship of natural resources and the environment.
News
October 04, 2023
The leaders of the OPEC+ coalition announced the plans in separate official statements on Wednesday. Riyadh has slashed crude oil production by 1 MMbpd, and Moscow is curbing exports by 300,000 bpd, on top of earlier cuts made with fellow OPEC+ nations.
News
October 04, 2023
It makes “geopolitical sense” for Petrobras to look at expanding into Venezuela and Bolivia because they are neighboring countries with vast potential for oil and gas, Prates said in a televised interview late Monday.
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.
