Production
News
December 23, 2023
OPEC nations Iraq, Nigeria and the Republic of Congo affirmed their commitment to the oil-producer group following the exit of Angola last week.
News
December 22, 2023
Equinor and SOCAR (State Oil Company of Azerbaijan Republic) have signed an agreement whereby Equinor will divest all its remaining assets in Azerbaijan to SOCAR.
News
December 22, 2023
The company’s four-part project strategy is evolving to accelerate the significant commercial opportunity offered by Project III, focused on the multi-Tcf undeveloped gas resource within the Lower Eocene and Upper Cretaceous reservoirs of Blocks XIB and XIF.
News
December 21, 2023
Harbour Energy has agreed to acquire Wintershall Dea's exploration and production business, including its producing and development assets, exploration rights, and carbon capture and storage licenses in various countries, for $11.2 billion.
News
December 21, 2023
Angola announced it’s leaving OPEC following 16 years of membership amid a dispute over oil production quotas, while the cartel tries to buoy global prices.
Article
December 2023
To increase efficiency and reach HSE goals, a manufacturer streamlined the connection of the pressure control tool string to the wellhead, using a hydraulically controlled latching system. This innovation eliminates the need for human intervention during connection, thereby minimizing risk of injury, while increasing operational efficiency and reducing rig-up/rig-down costs.
News
December 16, 2023
Tokyo Gas Co. said its subsidiary Tokyo Gas America Ltd. will purchase Rockcliff Energy II LLC for about $2.7 billion in a move to expand its U.S. shale gas operations.
News
December 14, 2023
Oil and gas will play an instrumental role in Africa’s economy for decades to come, and as such, African producers will not agree to any phase-out of these resources.
News
December 13, 2023
Africa still needs time – time that the Western world has already had and, frankly continues to milk – to resolve energy poverty and industrialize.
News
December 13, 2023
Non-OPEC supplies will increase by 700,000 bpd each year to 2030 — rather than the declines the consultant previously forecast — thanks to growth in the U.S., Guyana and Brazil.
News
December 12, 2023
OPEC+ will need to maintain its latest oil production cuts throughout next year in order to keep the global market in balance, according to Citigroup Inc.
News
December 10, 2023
Traders are more jittery than ever about the outcome of Chevron Corp.’s proposed $53-billion takeover of Hess Corp. as Venezuela threatens to seize mineral-rich regions in neighboring Guyana.
News
December 08, 2023
WesternZagros, a privately held American company with offices in Calgary, Canada, and Erbil and Sulaymaniyah in the Kurdistan region of Iraq, has officially become a member of APIKUR.
News
December 08, 2023
The American Petroleum Institute (API) has called on the Biden administration to recognize the important role that Alaska plays in U.S. energy security and support the continued development of energy resources in the National Petroleum Reserve.
News
December 07, 2023
Chevron Corp. followed competitor Exxon Mobil Corp. in raising planned capital spending as the biggest U.S. oil operators seek to increase long-term crude production.
News
December 06, 2023
Compared to alternatives using electric on-off valves, the new Fisher controller makes it possible to save significant energy and maintenance costs by minimizing valve movement, and by simplifying the level measurement and control processes.
News
December 06, 2023
At the center of discussions in Riyadh will be Russia’s role in OPEC+, the Saudi-led alliance between the Organization of Petroleum Exporting Countries and other major oil producers, which last week agreed to extend and deepen production cuts to bolster prices.
News
December 05, 2023
OPEC+ could take further measures if last week’s production cuts agreement isn’t enough to balance the oil market, said Deputy Prime Minister Alexander Novak.
News
December 04, 2023
ExxonMobil Corp. CEO Darren Woods said the Texas energy giant is focusing on producing oil in Guyana as efficiently as possible to help the South American country in its border dispute with Venezuela.
News
December 01, 2023
Angola, Africa’s second-largest crude producer, will produce 1.18 MMbpd from January, above the 1.11 MMbpd quota set out in the OPEC agreement on Thursday.
News
December 01, 2023
Traders were wary of how far countries will follow through on the production curbs, which are on a “voluntary” basis. At the end of fractious talks, Angola said it would reject its diminished output quota and keep pumping at current levels.
