Production & Industry news

• Analysts Examine USA Gas Inventory

  22-09-2023 10:33 via rigzone.com
  Prospects for a 4+ trillion cubic foot end of October U.S. gas inventory level have faded, according to a new BofA Global Research report,
  
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• UK Offshore Wind Industry Risks Cancellations: Hedge Fund Chief

  22-09-2023 08:30 via rigzone.com
  'The industry needs a complete reset'.
  
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• Oil Drops Slightly as Russia Bans Fuel Exports

  21-09-2023 21:11 via rigzone.com
  Oil steadied as a broad, risk-off sentiment eroded gains driven by Russia's ban on gasoline and diesel exports, further tightening an already stressed global fuel market.
  
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• USA Crude Oil Stocks Drop

  21-09-2023 18:00 via rigzone.com
  U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, decreased by 2.1 million barrels, according to the EIA.
  
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• Sunak Gambles on Voters Focusing More on Costs Than Climate

  21-09-2023 15:00 via rigzone.com
  Rishi Sunak's decision to water down a key part of the UK's green agenda represents a gamble.
  
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• Oil Price Rally Continues Apace in September

  21-09-2023 13:09 via rigzone.com
  'Physical markets have tightened'.
  
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• Is AI Affecting the Oil and Gas Job Market?

  21-09-2023 10:46 via rigzone.com
  Rigzone speaks to representatives of Piper-Morgan Associates Personnel Consultants, OneSource Professional Search, and Kaye/Bassman's Energy Practice.
  
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• EU Sets 11.7 Percent Cut in Energy Consumption by 2030

  21-09-2023 09:39 via rigzone.com
  The EU has adopted an energy efficiency directive mandating member countries to curb energy consumption by 11.7 percent by 2030.
  
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• Venezuela, Trinidad Sign Gas Profit-Sharing Deal: Maduro

  21-09-2023 09:18 via rigzone.com
  Venezuela and Trinidad and Tobago signed a profit-sharing agreement to export gas from the PDVSA-owned Dragon offshore project.
  
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• Oil Drops as Fed Signals Further Rate Hikes

  20-09-2023 22:22 via rigzone.com
  Oil's breakneck rally is taking a breather as a smaller-than-expected drop in US crude stockpiles bolstered technical resistance to further gains.
  
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• ExxonMobil Expands Chemical Production in Baytown Facility

  20-09-2023 18:10 via rigzone.com
  ExxonMobil has launched two new chemical production units at its manufacturing facility in Texas.
  
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• This is the Normal Oil Price

  20-09-2023 18:09 via rigzone.com
  'Normal in the eyes of most market participants today is $60 per barrel, but this perception is probably largely based on the recent experience of the market'.
  
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• Equinor Submits Plan for Norway's Eirin Field

  20-09-2023 17:09 via rigzone.com
  Equinor expects to recover 27.7 MMboe, mainly gas, in Eirin.
  
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• Strategists Forecast USA Crude Inventory Drop

  20-09-2023 13:13 via rigzone.com
  Macquarie strategists projected that U.S. crude inventories would be down for the week ending September 15.
  
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• Who Produced the Most Natural Gas in 2022?

  20-09-2023 10:28 via rigzone.com
  Which country produced the most natural gas last year?
  
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• Oil Steadies After Surging to 10 Month High

  19-09-2023 22:23 via rigzone.com
  Oil steadied after surging to a 10-month high as broader risk-off sentiment cooled a piping hot rally driven by OPEC+ supply cuts and comments from Saudi Arabia's energy minister shying away from any change in course.
  
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• How Much Crude Oil Will the USA Produce in 2023 and 2024?

  19-09-2023 17:36 via rigzone.com
  How much crude oil will the U.S. produce this year and next year?
  
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• Aramco CEO Says Peak Oil Demand Wilting Under Scrutiny

  19-09-2023 15:00 via rigzone.com
  Demand may rise to 110 million barrels per day by 2030, compared to a projection of around 125 million barrels a day that Aramco expected by then back in 2010, he said.
  
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• Brent Oil Price Highly Likely to Move Above $100

  19-09-2023 12:56 via rigzone.com
  'It is now less than $5 per barrel away from that level and only noise is needed to bring it above'.
  
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• TGS and PGS Agree to Form $2.6B Energy Data Co

  19-09-2023 10:43 via rigzone.com
  'It will combine the capabilities of both companies to create a geophysical powerhouse'.
  
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• Aramco, ExxonMobil Chiefs Insist Oil Needed in Energy Transition

  19-09-2023 09:16 via rigzone.com
  Both CEOs see a transition in which oil continues to play a major role for decades to come.
  
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• Oil Extends Rally to Near 10 Month High

  18-09-2023 22:34 via rigzone.com
  Brent oil closed near a 10-month high, extending a rally driven by supply curbs from OPEC+ leaders.
  
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• EIA Bumps Up USA Diesel Price Forecast

  18-09-2023 13:01 via rigzone.com
  The U.S. Energy Information Administration has raised its U.S. diesel price forecast for 2023 and 2024.
  
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• Shell, BP, Eni Accept Licenses for First Ever UK Carbon Storage Round

  18-09-2023 10:13 via rigzone.com
  A total of 14 companies have been awarded 21 licenses in depleted oil and gas reservoirs and saline aquifers.
  
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• California Sues Big Oil Demanding Damages, Relief

  18-09-2023 08:30 via rigzone.com
  BP, Chevron, ConocoPhillips, ExxonMobil, Phillips 66, Shell and the API have been sued for alleged decades of deception.
  
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• Cocaine Is Set to Overtake Oil to Become Colombia's Main Export

  16-09-2023 13:00 via rigzone.com
  Cocaine is set to become Colombia's main export, overtaking oil, according to estimates by Bloomberg Economics.
  
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• Oil Posts Third Weekly Gain as Market Tightens

  15-09-2023 21:28 via rigzone.com
  Oil rose for the third straight week as the market continued to tighten on the back of production cuts from Saudi Arabia and Russia.
  
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• Libya Says Oil Production Remains Unaffected by Deadly Floods

  15-09-2023 20:00 via rigzone.com
  Libya's state oil company said there has been no disruption to crude output following a storm that unleashed deadly flooding.
  
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• BLS Reveals Gasoline Role in August Consumer Price Index

  15-09-2023 18:00 via rigzone.com
  'The index for gasoline was the largest contributor to the monthly all items increase'.
  
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• Will Hurricane Lee Affect USA Oil and Gas?

  15-09-2023 13:02 via rigzone.com
  Analysts at Standard Chartered predict Hurricane Lee's effect on oil and gas in the United States.
  
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• VIDEO: Coast Guard Rescues Oil Tanker Crew Member Offshore Texas

  15-09-2023 09:49 via rigzone.com
  'It was fortunate that our helicopter crew was flying nearby'.
  
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• Sembcorp Agrees Key Terms for Gas Supply from Indonesia's Mako Field

  15-09-2023 08:57 via rigzone.com
  The planned sales gas volume totals about 293 Bcf.
  
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• Countries Emit More Methane than Reported to UN: Study

  15-09-2023 08:30 via rigzone.com
  Methane releases from oil and gas operations are 30 percent higher than what countries estimate in reports to the UN.
  
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• OPEC Chief Warns of Energy Chaos

  14-09-2023 22:00 via rigzone.com
  OPEC's top official warned against abandoning fossil fuels.
  
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• Oil Rally Accelerates as WTI Tops $90

  14-09-2023 21:37 via rigzone.com
  Benchmark US crude oil settled above $90 a barrel for the first time since November, the latest milestone in a surge driven by output cuts from Saudi Arabia and Russia amid record global consumption.
  
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• Indonesia Attracting Strong Interest from Foreign Energy Cos

  14-09-2023 18:03 via rigzone.com
  Indonesia still presents huge opportunities for development of stranded gas discoveries, according to BMI.
  
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• UK Wind Capacity Overtakes Gas for First Time: Report

  14-09-2023 16:04 via rigzone.com
  The UK's fleet of wind farms reached 29.7 GW of capacity in June.
  
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• USA Oil Drillers Push the Limits Sideways

  14-09-2023 15:00 via rigzone.com
  'It is a riskier game'.
  
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• EIA Boosts Brent and WTI Oil Price Forecasts

  14-09-2023 13:09 via rigzone.com
  The EIA increased its Brent and West Texas Intermediate spot average price forecasts for both 2023 and 2024.
  
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• Who is BP's Interim CEO?

  14-09-2023 11:46 via rigzone.com
  BP revealed this week that its Chief Financial Officer, Murray Auchincloss, will act as the company's CEO on an interim basis.
  
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• TotalEnergies Eyes Oil Project Offshore Suriname

  14-09-2023 11:38 via rigzone.com
  TotalEnergies is launching development studies for Block 58.
  
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• Woodside Begins Production at Shenzi North in GOM Ahead of Schedule

  14-09-2023 09:48 via rigzone.com
  The startup comes ahead of the first oil target of 2024.
  
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• Oil Lingers Near Yearly High Amid Bullish Outlooks

  13-09-2023 21:26 via rigzone.com
  Oil hovered near its highs of the year as the International Energy Agency added to a drumbeat of forecasts that the market will tip into a significant supply deficit in the second half of this year.
  
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• Oil Demand on Track to Grow to Near 102MM Barrels Per Day

  13-09-2023 18:00 via rigzone.com
  'Despite its difficult economic situation, China looks on track to account for 75 percent of the increase in world oil demand this year'.
  
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• BP CEO's Sudden Fall Puts BP Strategy Back in Play

  13-09-2023 15:00 via rigzone.com
  Looney's exit caps a tumultuous three years leading BP.
  
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• UK, Ireland Ink MOUs for Gas Supply Security, Offshore Renewables

  13-09-2023 14:18 via rigzone.com
  Ireland and the UK agreed to boost renewables cooperation, explore further power interconnection, and enhance the security of gas supplies.
  
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• Manchin Dubs Alaska Move Embarrassing

  13-09-2023 13:03 via rigzone.com
  'This is yet another example of this administration caving to the radical left'.
  
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• Analysts Look at Gabon Oil Situation

  13-09-2023 10:45 via rigzone.com
  'Oil and gas companies will likely be subject of increased scrutiny'.
  
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• BP CEO Resigns amid Probe into Relationships with Colleagues

  13-09-2023 08:30 via rigzone.com
  Bernard Looney filed his resignation with immediate effect.
  
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• Adnoc Seeks European Markets for Its Fossil Fuels

  13-09-2023 08:30 via rigzone.com
  Adnoc wants to take advantage of the hole left by Europe's pivot from Russian fuels.
  
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