Production
News
November 10, 2023
The OPEC+ leader is likely to extend its 1 MMbpd production cut — introduced over the summer — into next year, according to analysts at UBS Group AG, FGE, Commerzbank AG and Eurasia Group. RBC Capital Markets says it looks increasingly likely.
News
November 09, 2023
Oxy Oman and OQGN intend to exchange knowledge and technical expertise to develop strategies enabling the deployment of CCUS projects in Oman in line with the national strategic direction, including carbon capture, transport of carbon dioxide to Oxy Oman’s production assets for EOR, and supporting the development of relevant policies and procedures with the appropriate government bodies.
News
November 08, 2023
As the Independent Petroleum Association of America’s (IPAA’s) Annual Meeting in San Antonio continued on Tuesday afternoon, several senior IPAA staffers gave attendees a candid assessment of the threat posed to the E&P industry by the Biden administration.
News
November 08, 2023
Under the deal, M&P aims to increase its current production to 50,000 bpd in Zulia state, Venezuela’s oil cradle.
News
November 07, 2023
“The economy, despite the challenges, is still doing quite well,” OPEC Secretary-General Haitham Al-Ghais said at the Argus European Crude Conference in London on Tuesday. “We are positive on demand, we’re still quite robust on demand.”
News
November 06, 2023
The acquisition includes Gulf Coast and Rocky Mountain oil and natural gas operations, consisting of proved reserves totaling more than 200 MMboe as of year-end 2022, with approximately 46,000 boed of current production.
News
November 05, 2023
The Energy Workforce and Technology Council applauded the passage of H.R. 4821, the Department of the Interior, Environment, and Related Agencies Appropriations Act for Fiscal Year 2024.
News
November 05, 2023
Saudi Arabia and Russia reaffirmed that they will stick with oil production curbs of more than 1 MMbpd until the end of the year, even as turmoil in the Middle East roils global markets.
News
November 02, 2023
The oil majors’ growth strategies are in the spotlight after Exxon Mobil Corp. and Chevron Corp. agreed a pair of takeovers last month together worth more than $100 billion.
News
November 02, 2023
Stockholm-based Maha Energy has gained rights to a stake in the PetroUrdaneta project that belongs to Brazilian industrial conglomerate Novonor, Kjetil Solbraekke, the Swedish firm’s chief executive officer, told Bloomberg
News
November 02, 2023
OPEC members pumped an average of 28.08 MMbpd in October — about 50,000 bpd more than the previous month, according to a Bloomberg survey.
News
October 31, 2023
U.S. crude oil production jumped to a record high of 13.05 MMbpd in August, the U.S. Energy Information Administration said Tuesday in a monthly report.
Article
October 2023
To enhance oil recovery efficiency during production, a deep understanding of lower well pressure history and reservoir hydrodynamics is crucial. This study offers a comprehensive assessment of the reservoir's hydrodynamic status and effectiveness of the water drive mechanism, providing valuable insights for reservoir analyses in similar oil-rich regions.
News
October 30, 2023
By tailoring the AICVs for each reservoir’s needs based on the fluids viscosity and density contracts, the AICV enables operators to optimize zonal production rates based on the composition of the fluids.
News
October 30, 2023
Exxon Mobil Corp. sees tight global oil supplies putting upward pressure on energy prices for at least the next few years as the world continues to suffer from a lack of investment in fossil fuels.
News
Oil industry pushes South Africa to finalize new hydrocarbon law to increase exploration, production
October 27, 2023
The legislation will ensure the orderly and sustainable development of petroleum resources, the increased participation of Black South Africans in the industry and integrated production and exploration rights, according to its preamble.
News
October 26, 2023
Coretrax will deploy its leading ReLineMNS and ReLineHYD expandable casing patches to effectively isolate trouble zones and increase production on the operator’s existing wells.
News
October 23, 2023
The Gabon coup was the ninth in three years through sub-Saharan Africa, a continent that’s home to more than two thirds of Perenco’s production of 500,000 bpd.
News
October 20, 2023
The sanctions relief follows the issuance of the government’s smallest plan in decades for offshore oil and gas leasing during the next five years, Manchin stressed.
News
October 19, 2023
The project will be built at the Obama flow station, situated in Oil Mining License 63, and will have the capacity to produce 405 million tons per day of liquefied natural gas (LNG) and 294 bpd of crude condensates.
