Production & Industry news

• USA Slaps On More Sanctions to Thwart Russia's LNG 'Dark Fleet'

  07-09-2024 14:00 via rigzone.com
  The U.S. has sanctioned two more vessels along with two related shipping companies.
  
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• Oil Sees Biggest Drop in 11 Months as Demand Worries Grow

  06-09-2024 21:35 via rigzone.com
  Oil prices tumbled to their lowest in nearly a year, hit by weak US jobs data and ongoing concerns about slowing demand, despite OPEC+ efforts to limit supply.
  
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• AEA Releases American Energy Scorecard

  06-09-2024 17:02 via rigzone.com
  'This comprehensive tool evaluates legislators' voting records and co-sponsorship decisions on critical energy issues in order to inform voters and hold Members of Congress accountable to their constituents'.
  
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• OPEC+'s Quick Fix Masks a Bigger Problem

  06-09-2024 16:29 via rigzone.com
  The group led by Saudi Arabia and Russia chose on Thursday to delay plans to restore output by two months.
  
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• Trio Petroleum Reports Increased Value in California Asset

  06-09-2024 15:08
  Trio said that the reserve report recognizes P2 Undeveloped Reserves and Possible (P3) Undeveloped Reserves for three project development phases.
  
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• Rystad: Oil, Gas Will Remain Central to Energy Mix for Foreseeable Future

  06-09-2024 11:16 via rigzone.com
  Despite the accelerating energy transition, oil and gas will remain central to the global energy mix for the foreseeable future, Rystad Energy stated.
  
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• Oil Steady Amidst Opposing Forces

  05-09-2024 22:42 via rigzone.com
  Risk-Off Sentiment Dulls OPEC+ Boost.
  
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• Ex-IPAA Chief Economist Looks at Natural Gas Price Rise

  05-09-2024 18:26 via rigzone.com
  In an exclusive interview with Rigzone, Frederick J. Lawrence, the ex-Independent Petroleum Association of America Chief Economist, examined the natural gas price rise on Thursday.
  
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• European Gas Halts Selloff

  05-09-2024 16:44 via rigzone.com
  European natural gas advanced, halting a slide that pushed it toward oversold territory.
  
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• Oil Markets Have Been on a Rollercoaster Ride

  05-09-2024 11:10 via rigzone.com
  Rystad Energy Senior Analyst Svetlana Tretyakova said oil markets have been on a rollercoaster ride of late.
  
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• Saudi Arabia Faces Potential Deficit on Oil Decline

  05-09-2024 08:58 via rigzone.com
  Saudi Arabia's current account balance is set to flip into deficit as oil prices decline and imports related to huge projects meant to transform the economy rise.
  
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• Oil Continued Fall Despite OPEC+ Signaling Output Pause

  04-09-2024 23:54 via rigzone.com
  Demand risks are driving crude prices down despite OPEC+ signals.
  
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• Libya Inches Closer to Central Bank Deal Though Hurdles Remain

  04-09-2024 23:00 via rigzone.com
  Libya's rival political factions agreed to a road map to appoint a central bank governor.
  
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• TXOGA Says It Applauds Actions Taken by PUC

  04-09-2024 16:57 via rigzone.com
  The Texas Oil & Gas Association said it applauds actions taken by the Public Utility Commission to advance Texas Energy Fund Projects.
  
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• Aker BP Starts Production at Tyrving Field in North Sea

  04-09-2024 16:15
  The Tyrving development consists of three wells and two new subsea installations.
  
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• Chevron Begins Water Injections to Boost GOM Production

  04-09-2024 14:58
  'Delivery of these two projects maximizes returns from our existing resource base and contributes toward growing our production to 300,000 net barrels of oil equivalent per day in the U.S. Gulf of Mexico by 2026'.
  
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• BMI Looks at the Effects of Increased OPEC+ Production

  04-09-2024 12:19
  As things stand, 2025 will mark the first year that the OPEC+ group raises its output in the face of falling prices since the Declaration of Cooperation took effect in 2017, BMI analysts said.
  
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• Oil Prices Dive as Libya Supply Deal Fuels Demand Concerns

  03-09-2024 22:43 via rigzone.com
  Oil markets reel as Libya prepares to boost output, amplifying fears over sluggish global demand and driving prices to new lows.
  
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• Saxo Bank Head of Commodity Strategy Offers Oil Price Warning

  03-09-2024 17:36 via rigzone.com
  In a note posted on the Saxo Bank AS website earlier today, Ole Hansen, the company's Head of Commodity Strategy, offered an oil price warning.
  
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• Brent Crude Tumbles Below $75 a Barrel

  03-09-2024 16:14 via rigzone.com
  The global benchmark dropped below $75 a barrel and touched the lowest intraday price since December 2023.
  
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• USA Centcom Says Houthis Attacked 2 Oil Tankers

  03-09-2024 12:48 via rigzone.com
  'Both vessels are laden with crude oil', U.S. Central Command warned.
  
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• UK Oil Body Models Impact of EPL on UK Economy

  03-09-2024 11:54 via rigzone.com
  'The analysis shows the policy will undermine the UK offshore energy sector's ability to support the government's overarching goal of driving economic growth'.
  
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• Indonesia Eyes to Build Oil Reserve of 10 Million Barrels

  03-09-2024 09:25 via rigzone.com
  Indonesia plans to set aside more than 10 million barrels of crude - about a 10th of global daily consumption - over the next decade as a buffer against energy shocks.
  
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• Libya National Oil Corp Declares Force Majeure on El-Feel Field

  03-09-2024 08:26 via rigzone.com
  NOC indefinitely shut down El-Feel, weeks after shutting down the Sharara field amid political tension.
  
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• Kyle Bass Says Blackballing Oil Has Proved a Bad Bet for ESG

  02-09-2024 23:00 via rigzone.com
  'There were all of these idiots that were just saying, if anyone is doing hydrocarbons, we're going to blackball them from doing business or from receiving capital'.
  
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• North America Posts WoW Rig Loss

  02-09-2024 17:31 via rigzone.com
  North America dropped one rig week on week, according to Baker Hughes' latest rotary rig count.
  
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• Oceaneering Bags Multiple Contracts in UK, Norway

  02-09-2024 14:00
  The contracts were awarded by multiple operators in the region.
  
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• McKinsey Research Reveals Energy Sector Reality Gap

  02-09-2024 13:58 via rigzone.com
  The analysis focuses on Europe and the United States.
  
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• Hunting Secures $60MM of Organic Oil Recovery Contracts

  02-09-2024 12:00
  The OOR process is a proven enhanced oil recovery (EOR) technology that optimizes reservoir performance, improves recovery rates and reduces in-situ hydrogen sulphide levels for operators.
  
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• UK Oil Regulator Launches Decom, Enforcement Consultation

  02-09-2024 11:48 via rigzone.com
  The consultation launched on August 29 and will end on October 31.
  
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• SLB Launches Solution for CCUS Well Assessment

  02-09-2024 10:00
  'SLB's well integrity assessment solution can help storage developers avoid costly delays or operational disruptions, and drive companies toward their net zero ambitions'.
  
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• Shell Set to Cut 20 Pct of Jobs in Some Oil and Gas Divisions

  31-08-2024 14:00 via rigzone.com
  Shell Plc is set to cut around 20 percent of its workforce in some oil and gas exploration and development divisions.
  
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• Oil Fell Sharply on Expected OPEC+ Output Increase

  30-08-2024 22:01 via rigzone.com
  Delegates suggested this week that increases will proceed in Q4.
  
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• Enverus Releases Top USA Drillers, Customers Rankings

  30-08-2024 17:34 via rigzone.com
  Enverus has released its inaugural 'top U.S. drillers and customer rankings'.
  
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• Harris Rules Out Fracking Ban

  30-08-2024 15:56 via rigzone.com
  Vice President Kamala Harris said she wouldn't halt fracking if elected president.
  
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• Aker Solutions, Partners Launch ZEUS Oxyfuel-CCS Solution

  30-08-2024 15:36
  Zero Emission Power Station (ZEUS) is a pioneering energy solution that utilizes advanced oxyfuel combustion with immediate carbon dioxide (CO2) capture and storage.
  
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• Macquarie Strategists Look at Upcoming EIA Petroleum Status Report

  30-08-2024 13:56 via rigzone.com
  The EIA's next weekly petroleum status report is scheduled to be released on September 5.
  
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• UK Gov Announces Plans for New Oil, Gas Environmental Guidance

  30-08-2024 11:00 via rigzone.com
  'It continues to be a difficult time for industry', industry body OEUK told Rigzone.
  
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• Oil Climbs on Stronger US Economy and Libya Outages

  29-08-2024 21:34 via rigzone.com
  Oil prices jumped on robust US economic data and worsening supply disruptions in Libya.
  
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• OEUK Says Sector Leaped Ahead of Emissions Reduction Targets

  29-08-2024 17:21 via rigzone.com
  'Facing a challenging policy and taxation landscape, the UK oil and gas industry has still leaped ahead of its government-agreed emissions reduction targets'.
  
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• Houthis Say Tugs Can Tow Away Stricken Red Sea Oil Tanker

  29-08-2024 16:00 via rigzone.com
  Yemen's Houthi militants said they'll let tugboats tow away an oil tanker that they attacked last week in the Red Sea.
  
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• UK Firm Inks MoU with Petronas for CCS Tech

  29-08-2024 14:51
  The focus of the collaboration includes evaluating various methods of carbon capture for potential integration into different areas of Petronas' operations.
  
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• Helix Bags 3-Year Contracts with Petrobras for Well Intervention Vessels

  29-08-2024 14:25
  The new three-year contracts are valued in aggregate at an estimated $786 million.
  
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• Petrobras' Second FPSO in Mero Attains Top Production

  29-08-2024 14:10
  The floating production storage and offloading (FPSO) vessel Sepetiba attained production of 180,000 barrels per day (bpd) of oil in the Mero field.
  
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• OPEC Receives Updated Compensation Plans from Iraq, Kazakhstan

  29-08-2024 13:43
  'The entire overproduced volumes will be fully compensated for by September 2025'.
  
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• ONEOK to Acquire Controlling Stake in EnLink, All of Medallion for $5.9B

  29-08-2024 13:35 via rigzone.com
  'We are particularly excited to meaningfully increase our company's presence in the Permian Basin, which is expected to continue driving the majority of U.S. oil and gas growth'.
  
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• Valeura Raises Production by a Fourth as Thai Project Completes Ramp-Up

  29-08-2024 11:30
  The Nong Yao C field extension project in the Gulf of Thailand achieved full output capacity at 13,400 bpd.
  
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• Oil Volatility Increases

  29-08-2024 11:17 via rigzone.com
  Standard Chartered analysts said the past month 'has seen some sharp price swings but no sustained momentum'.
  
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• Oil Falls Amid Geopolitical Risks and Declining US Stockpiles

  28-08-2024 21:35 via rigzone.com
  Oil slipped for a second day, extending a bumpy run so far this month, with the market focusing on Libyan supplies, key technical indicators and US inventory data.
  
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