Production
News
September 27, 2019
A blizzard of data on Saudi Arabia’s oil production, production capacity and exports has painted a picture of an industry that is almost back to normal after the Sept. 14 attacks. That view may be too simplistic, though.
News
September 26, 2019
Saudi Aramco is wasting no time pushing ahead with its initial public offering, leaving legions of analysts scrambling to prepare research that will help investors decide whether to buy into one of the world’s biggest ever share sales.
News
September 25, 2019
Saudi Arabia is recovering faster than expected from the attacks on its oil industry, with total production capacity restored to more than 11 MMbpd about a week ahead of schedule, according to people with knowledge of the situation.
News
September 24, 2019
The Norwegian Petroleum Directorate report states production in August was below forecast due to technical problems and maintenance work on some fields.
News
September 23, 2019
Oil stabilized as traders weighed conflicting reports on how quickly Saudi Arabia will be able to restore its lost production.
News
September 23, 2019
“We are still in a frantic search for spare parts,” an anonymous Saudi official was quoted as saying. The situation is not “as rosy as you might think,” the official said.
News
September 23, 2019
Medco’s strategy is based on the view that a dearth of exploration and strong aviation and petrochemical demand will push crude prices above $100/bbl in a decade or so.
News
September 20, 2019
Consultants caution that Saudi Arabia's recovery could take longer than expected, and the kingdom’s resort to sourcing refined fuels and condensates from the market is fanning concerns about the length of the disruption.
News
September 20, 2019
Oil producers drilling so-called parent-child wells in the Permian Basin are risking the loss of 15% to 20% of the crude that can ultimately be recovered from those wells by spacing them too close together, according to a Houston-based investment bank.
News
September 19, 2019
Saudi Arabia’s pledge to fulfill all commitments to oil buyers after a strike on the giant processing plant at Abqaiq means the world’s largest crude exporter must continue to draw heavily on its inventories until production capacity returns.
News
September 19, 2019
Oil rose amid doubts about the speed of Saudi Arabia’s recovery from the weekend’s attack on its facilities that knocked out a large chunk of its production.
News
September 18, 2019
The initial 15% oil price jump resulting from the attacks in Saudi Arabia will not have any impact on the trajectory of 2019 U.S. shale production, IHS Markit says.
News
September 18, 2019
Saudi Arabia is fixing its energy infrastructure and restoring crude production, but the weekend’s attacks may have done irreparable damage to one of the kingdom’s greatest assets -- its role as guardian of global oil markets.
News
September 18, 2019
“Considering limited spare capacity outside Saudi Arabia and risks of renewed attacks on Saudi energy infrastructure, a risk premium is likely to stay on oil prices in the foreseeable future,” UBS Group AG analyst Giovanni Staunovo said in a note on Wednesday.
News
September 17, 2019
Saudi Arabia attempted to move beyond the worst oil disruption in its history, assuring the world that crude exports will not suffer, its damaged facility had partially restarted and production capacity would be back to normal within months.
News
September 17, 2019
Oil plunged nearly 7% in London after Reuters reported Saudi Arabia is close to restoring 70% of the oil production it lost after this weekend’s attack on a key crude facility in the kingdom.
News
September 17, 2019
Nearly all of the kingdom’s oil shipments to Canada travel to New Brunswick, home to a single refinery, Irving Oil Ltd.’s Saint John plant, which can process about 299,000 bpd. The refinery relied on Saudi crude for more than 40% of its supplies in July, Statistics Canada data show.
News
September 17, 2019
Chevron could start oil production “relatively quickly” in the so-called partitioned zone between Saudi Arabia and Kuwait if required to by both nations, CEO Mike Wirth said in an interview with CNBC.
News
September 17, 2019
Saudi Aramco notified at least four customers that some crude deliveries in early October will be delayed to later in the month after attacks on its facilities cut output, though they’ll still receive their full contracted volumes, according to people with knowledge of the matter.
News
September 17, 2019
Officials at state oil company Saudi Aramco have become less optimistic on the pace of output recovery, telling a senior foreign diplomat they face a “severe” disruption measured in weeks and months and informing some customers that October shipments will be delayed.
News
September 16, 2019
The list of countries that could boost production to offset losses from Saudi Arabia is not a long one, and much of their "spare" capacity may not be accessible.
