Production
News
February 22, 2023
The government expects oil output to increase by 250,000 bpd once the blocks covered by the agreements start producing, Oil Minister Hayyan Abdul Ghani said on local television on Tuesday.
News
February 22, 2023
Angola is among the hardest hit at the moment, with daily oil exports to China falling 27% so far this month compared with whole of February last year, according to data and analytics firm Kpler. Flows from Venezuela, Nigeria and the UK are also down.
News
February 20, 2023
Senate Republican Leader Mitch McConnell will meet with Sheikh Mohammed bin Zayed Al Nahyan, the president of the United Arab Emirates, on Tuesday, according to people familiar with their plans.
Article
February 2023
Coming off a strong rebound year, the Canadian oil patch is on an upward trend, with strong prices and increased spending. But political uncertainty continues to cast a pall over any long-term optimism.
Article
February 2023
Drilling activity increased 51.3% on an average yearly basis, driving U.S. crude production up to 11.9 MMbopd in 2022, a 6.4% increase compared to the 11.2 MMbopd averaged during 2021.
News
February 20, 2023
Williams will provide natural gas gathering services to Chevron’s 26,000-acre Haynesville dedication. Additionally, Williams has agreed to use existing infrastructure to serve increased natural gas production from the Blind Faith platform in the Gulf of Mexico.
News
February 20, 2023
the kingdom and other members of the OPEC+ coalition have already signaled the group will stick to its current oil production targets for the rest of the year. Prince Abdulaziz bin Salman said that past policies have been determined by technical studies of market balances and — if needed — the group can adapt.
News
February 17, 2023
To fend off climate change, the world’s biggest energy consumers are trying to reduce their consumption of fossil fuels as they transition to renewable sources. That could turn Suriname’s oil fields into stranded assets if they aren’t developed fast enough.
News
February 17, 2023
Abu Dhabi National Oil Co. will offer a 4% stake in ADNOC Gas, formed through a merger of liquefied natural gas and gas-processing arms. The IPO will start on Feb. 23 and the final offer price will be on March 3, with trading slated to start 10 days later.
News
February 17, 2023
The company is on track to achieve a production rate of over 350 Kboed by the end of 2025 based on 17 sanctioned projects with the majority well into execution with committed investments, including the key projects Balder X, Johan Castberg and Breidablikk.
News
February 17, 2023
OPEC and its partners took the unusual step of assigning fixed production targets for a full year ahead. Key officials have indicated they intend to leave the quotas unchanged throughout 2023, and the comments from Prince Abdulaziz bin Salman are the most emphatic to date.
Article
February 2023
Worldwide E&P spending is set to increase in 2023, albeit slower than growth experienced in 2022. Spending deceleration in North America (NAM) follows a near-record NAM level in 2022. International spending’s growth will slip, due to declines in Russia.
News
February 15, 2023
Eni, Repsol and French company Maurel et Prom have the capacity to pump an additional 50,000 to 80,000 bpd if they increase operations in the South American country.
News
February 15, 2023
The agency raised global demand estimates by a hefty 500,000 bpd for the first quarter, and by just under half as much for the year as a whole. As a result, world consumption will climb by 2 MMbpd this year to average 101.9 MMbpd.
News
February 14, 2023
Railroad Commissioner Wayne Christian issued a statement to the Biden administration regarding news of Russia's plans to cut oil production by about 5% next month, the equivalent of 500,000 bpd.
News
February 14, 2023
Russian companies did the most drilling at their oil fields in more than a decade last year, with little sign that international sanctions or the departure of some major Western firms directly harmed so-called upstream operations.
News
February 13, 2023
The European Union downplayed the impact of Russia’s cut in oil production and said it was forced on Moscow by sanctions related to its invasion of Ukraine.
News
February 13, 2023
ADNOC Drilling’s revenue for the year increased to $2.67 billion, up a robust 18% compared to 2021. Year-on-year revenue growth was led by the Onshore and Oilfield Services (OFS) segments, while all segments achieved positive year-on-year performance as the company enables ADNOC’s accelerated production capacity target of 5 MMbpd by 2027.
News
February 10, 2023
The OPEC+ group will maintain output despite plans by the Kremlin to cut 500,000 bpd in retaliation for international sanctions, according to delegates who declined to be identified.
News
February 08, 2023
In 2023, Equnior plans to invest in a profitable and robust oil and gas project portfolio, contributing to energy security and decarbonization. The company will also progress on its energy transition plan with further growth in renewables.
News
February 06, 2023
Winter Storm Mara swept through Midland, the Dallas-Fort Worth area, and into San Antonio, covering several gas production basins in the state. The key elements of natural gas supply all performed up to par during the arctic blast.
