Industry & Analysis
News
May 13, 2025
Brazil’s state-controlled oil producer Petrobras approved dividends slightly below expectations amid a trade war that has created economic uncertainty and undermined oil prices.
News
May 12, 2025
Slowing global oil demand amid extreme uncertainty about the future of U.S. trade and a coming supply surplus are expected to hobble U.S. oil production growth later this year and could lead to an annual decline in output in 2026, according to a new analysis by S&P Global Commodity Insights.
News
May 12, 2025
“We (the Trump administration) need to ensure that (U.S.) resources are secure, abundant and reliable. And we need energy of all kinds.” That is the message that Ryan Peay, the newly installed Deputy Assistant Secretary in the U.S. Department of Energy, brought to an OTC audience on the afternoon of Day 2 at OTC.
News
May 12, 2025
Leaders from both the American Petroleum Institute (API) and National Ocean Industries Association (NOIA) issued statements Monday after the House Energy and Commerce Committee released its proposed markup of the 2025 tax reconciliation bill, which includes a 10-year pause of the EPA’s Waste Emissions Charge (WEC).
News
May 12, 2025
Equinor ASA got no new signals that the Trump administration would reconsider the halt imposed on the Empire Wind project when its CEO met with a top White House official last week. Now the company must decide whether it will kill the project.
News
May 09, 2025
WTI climbed 1.9% to settle near $61 a barrel on Friday, the highest in over a week, as the Trump administration weighs reducing levies on China to de-escalate tensions and temper the economic pain in both countries.
News
May 09, 2025
Thailand officials have discussed potential involvement in a $44 billion Alaska gas pipeline project through investments in gas exploration and production and related infrastructure with project officials, the Ministry of Energy said in a statement on Thursday.
News
May 08, 2025
Kazakhstan, which has created tensions within OPEC+ by consistently breaching its production limit, has no plans to cut oil output in May. The country’s Energy Ministry said in an email that it plans to pump the same levels of crude as in April.
News
May 08, 2025
Houston-based oil giant ConocoPhillips cut its spending outlook by 3.5% to $12.45 billion, while leaving its production view unchanged, it said Thursday in a statement announcing first-quarter results.
News
May 08, 2025
The Energy Workforce & Technology Council has released its April 2025 jobs report, indicating a steady employment trend in the energy services sector despite broader market transitions and ongoing global trade uncertainty.
News
May 07, 2025
In keeping with the overall themes raised on day one of OTC 2025, Weatherford CEO Girish Saligram discussed some of the major challenges facing the offshore industry as a whole in an executive dialogue panel on Monday.
News
May 07, 2025
Exxon Mobil Corp. plans to invest $1.5 billion in a deepwater oil field in Nigeria as Africa’s top producer looks to boost output, according to the nation’s regulator. The investment, expected within the next two years, will focus on reviving production in the Usan field.
News
May 07, 2025
A federal jury in the Southern District of Texas has ruled in favor of Marathon Oil in a high-stakes natural gas trading dispute stemming from Winter Storm Uri. The jury rejected a $123.7 million breach-of-contract counterclaim filed by Koch Energy Services.
News
May 07, 2025
Although the deepwater sector may be traversing a few rough spots at present, the general outlook over the next few years remains solidly positive. That’s the theme of comments made by Scott Livingston, NOV’s President of Energy Products and Services, during a session on Day 2 of OTC.
News
May 06, 2025
In a session titled “Offshore Production and Recovery: The Value of a Holistic Approach,” SLB’s President of Production Systems, Paul Sims, gave his take on key factors affecting the current offshore energy landscape, as well as SLB’s latest strategies and innovations.
News
May 06, 2025
Kazakhstan is weighing options to comply with OPEC+ obligations to cut production, after Saudi Arabia doubled down on its efforts to bring quota-cheats in line. Kazakhstan previously agreed at a May OPEC meeting to reduce production to 1.5 million bpd in June.
News
May 05, 2025
Oil dropped after OPEC+ agreed to another large output increase, raising concern that additional supply could lead to a global glut just as the trade war threatens demand. The drop follows OPEC+'s latest agreement to continue loosening supply constraints.
News
May 02, 2025
OPEC+ agreed to increase output again in June, as the group continues a supply revival aimed at punishing over-producing members that has sent crude prices plunging. Key nations agreed to add 411,000 bpd next month, according to a statement.
News
May 02, 2025
Rising Phoenix Capital, an oil and gas investment firm, have announced a strategic purchase of mineral interests in Ector and Midland Counties, TX, operated by ConocoPhillips. The transaction strengthens the firm’s growing position in the core of the Midland Basin.
Article
April 2025
Upstream oil and gas activity in the part of the U.S. residing in U.S. Federal Reserve District 11 increased slightly during first-quarter 2025, even as crude prices averaged below $70/bbl. Natural gas prices were up noticeably, compared to fourth-quarter 2024 levels.
Article
April 2025
As we go into the last week of April, and this issue goes out the door, the upstream industry has nearly four months (one-third) of 2025 in the books already. So, what do we have to show for drilling activity in the first third of the year? Well, nothing spectacular.
