The Brent crude price benchmark for millions of barrels of physical crude sales each day is poised for its biggest shakeup in a decade with a new grade added to the mix from January next year.
The giant tankers anchored along the Scottish coast in the Firth of Forth weren’t going anywhere. They were just providing floating storage because there was no demand for their cargo, North Sea crude oil.
Sound Energy, the African and European focused upstream gas company, is pleased to confirm the commencement of drilling at the third Tendrara well, onshore Morocco.
Saudi Arabia boosted oil exports and production last year to the highest monthly averages on record as the global crude market endured oversupply.
China National Petroleum Corp. bought a stake in Abu Dhabi’s largest oil concession as the Middle Eastern emirate with 6% of global crude reserves looks increasingly to Asia, its biggest market, for investment to raise output capacity.
U.S. drillers pushed ahead on the biggest surge in oil drilling since 2012 as companies take advantage of oil prices that have held steady above $50 for almost three months.
Eastern Mediterranean region strives to weather low oil price storm
Using improved methods and the latest composite frac plug technology, operators can reduce running time, enhance reliability, and achieve efficient drill-outs without short trips.
Hurricane force winds led to a multi-well fire on a 30-well production platform. In spite of continuing adverse conditions, well control specialists were able to safely extinguish the blaze in 64 days, 25 of which were non-productive due to the weather.
Increasingly complex well geometrics and extended well depths present a growing challenge for conveyance. Deep and highly deviated wells that were not previously wireline accessible, especially benefit from using an integrated wireline conveyance system.
From tracking cash to kicks
Data courtesy of Baker Hughes.
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