Production
News
May 15, 2024
The United Arab Emirates, Kazakhstan, Iraq, Kuwait and Algeria are among countries who’s potential to pump more next year is under scrutiny, according to people familiar with the discussions. Some have pushed for an upward revision, causing tough talks with the outside consultants that are judging the matter, they said.
News
May 14, 2024
The 24,000 acre blaze expanded to the northeast and is now about 8.4 miles from the Fort McMurray landfill. The fire is one of two listed as out of control in Alberta and the closest to the oil sands, where the bulk of Canada’s 4.9 MMbopd is produced.
Article
March 2024
The digital transformation continues to impact various drilling and production functions in many positive ways, and thus its usage and spending for it will expand further, says a veteran upstream executive.
News
May 12, 2024
Existing production infrastructure supports the development of new concessions in Angola, as the country seeks large-scale upstream investments to boost oil production.
News
May 12, 2024
Asked if Iraq would agree to extend the production cuts, Oil Minister Hayyan Abdul Ghani told reporters, “No, I think Iraq has cut enough and will not agree to any other cut.” It wasn’t clear if he was referring to an extension or a deeper cut.
News
May 05, 2024
The United Arab Emirates, Kazakhstan and Iraq stand to bolster their combined capacity by more than 300,000 bpd from next year. Abu Dhabi has signaled an even bigger increase, with state producer ADNOC advertising this week it has bolstered its capabilities by 200,000 bpd to 4.85 MMbpd.
News
May 01, 2024
OPEC pumped 26.81 MMbpd in April, about 50,000 bpd less than the previous month, according to a Bloomberg survey. Minor increases by Libya and Iraq were offset by reductions in Iran and Nigeria.
News
April 29, 2024
Last year, the demand for loans from oil and gas companies fell 6% year-on-year, and that followed a decline of 1% in 2022.
News
April 29, 2024
Exxon is set to become the Permian’s biggest producer once it closes its $64 billion acquisition of Pioneer Natural Resources Co. while Chevron is spending $52 billion on Hess Corp. to gain a 30% share of Guyana’s prolific Stabroek Block.
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.
