Production ///

U.S. seeks to boost oil royalties to account for climate change

The Biden administration on Friday issued a long-awaited blueprint for overhauling oil and gas development on federal lands that includes boosting royalty rates despite high gasoline prices that have spurred demands to accelerate domestic production.

Iran seeks to return oil output to pre-sanction levels

Iran wants to pump more oil than it did before the Trump administration tightened sanctions, a top official said ahead of high-level nuclear talks whose outcome would directly impact the country’s energy-market ambitions.

OPEC expected to take cautious approach to oil demand at December meeting

The oil producers’ group OPEC+ will likely take a cautious stance when deciding this coming week whether to go ahead with planned output increases after the emergence of a new coronavirus variant sent crude prices tumbling, according to Vitol Group.

Neptune owners seek offers for its $5 billion gas exploration unit

Neptune Energy Group Ltd.’s owners are weighing plans to sell the UK oil and gas explorer, according to people familiar with the matter.

The last barrel

Craig Fleming, World Oil

You can’t have it both ways

Executive viewpoint

Andy Brogan, EY

OPEC in the energy transition: What have we learned from the pandemic?

Water management

Mark Patton, Hydrozonix

Seismic Response Areas (SRAs) enter the picture

First oil

Kurt Abraham, World Oil

Recovery is still moving forward

Digital smart products prove their value for processing technologies

René Mikkelsen, Andreas Hannisdal, Henrik Bjartnes, NOV

Applications for condition-based monitoring and performance optimization may become a standard offering accompanying processing equipment deliveries.

Improving prediction accuracy on flow-induced vibration analysis

Paul Emmerson, Xodus; Steinar Orre, Equinor ASA

Experts from Xodus and Equinor ASA provide insight and analysis on why flow-induced vibration is a concern for subsea systems and how they are driving improved industry understanding to eliminate costly and potentially dangerous consequences.

OPEC considers lowering production to account for oil reserve releases

OPEC and its allies may re-evaluate plans for reviving oil supplies if the world’s four largest consuming countries go ahead with a coordinated release of their strategic petroleum reserves.

U.S. EIA projects declining crude oil prices during 2022

In its November Short-Term Energy Outlook, the U.S. Energy Information Administration forecasts that rising production from OPEC+ countries and the United States will lead to global liquid fuels inventories increasing and crude oil prices falling in 2022.

Leveraging oil and gas digitalization to emerge from the pandemic

Bimal Venkatesh, Weatherford

Following the pandemic, companies are adjusting operating philosophies to focus more on production optimization and maximize existing investments. This growing need has fueled interest in the latest digital offerings, especially for remote operations, visualization, Edge automation and artificial intelligence.

SBM Offshore lands fourth Guyana FPSO contract

SBM Offshore has been awarded contracts to perform front end engineering and design for an FPSO for the Yellowtail development project. The FEED contract award triggers the initial release of funds by ExxonMobil’s subsidiary Esso Exploration and Production Guyana Limited to begin FEED activities and secure a Fast4Ward hull.

Scale of oil’s swing to surplus is next year’s big market puzzle

The oil market is about to swing into a healthy supply surplus, if the world's big international energy forecasters are to be believed.

Embracing an Alliance mindset to sustainably unlock offshore production potential

Stian Ø. Jørgensen, Aker BP; Rob Stolpman, StimWell Services; Richard Lochee-Bayne, Schlumberger

Industry indicators point toward increasing demand for oil and gas, with the offshore market playing an integral role in the short- and long-term energy mix. However, as the offshore industry looks toward an upcycle, the landscape looks different from those of the past.

Novel combined chemical product increases production and reduces costs

Dr. Alfred Hase, Laura Crombie, ChampionX

During a recent North Sea project, production had been constrained on an operator’s normally unmanned installation to meet H2S specifications. A bespoke solution was developed, capable of protecting the NUI against hydrates while ensuring efficient scavenging of H2S.

Permian shale output expected to set a record in December

Oil output in the Permian Basin is projected to hit a record as the largest U.S. shale patch leads the recovery in domestic production from its Covid-19 induced slump.

IEA sees oil price rally slowing as crude output recovers

The tightness in global oil markets that propelled prices to a seven-year high is starting to ease as production recovers in the U.S. and elsewhere, the International Energy Agency said.

Russia joins OPEC pushback on U.S. calls for more oil output

Russia says there is no shortage of oil in the global market and there may even be a surplus from early next year, adding to the chorus of other OPEC+ members to push back against calls from the U.S. to raise output faster.