Industry Trends ///

Still plenty of discoveries to be made on the Norwegian shelf, NPD says

The Norwegian Petroleum Directorate (NPD) has published the 2018 Resource Report for Exploration. The report shows that production of oil and gas will increase going forward – but that new and larger discoveries have to be made in order to maintain the same level after the mid-2020s.

Equinor, Microsoft partner for cloud services delivered from new cloud data centers in Norway

Equinor and Microsoft have entered into a strategic partnership agreement. As part of the agreement, Equinor will provide industry knowledge and business needs to support Microsoft in developing new solutions for the industry. Microsoft will provide expertise to accelerate Equinor’s IT development and establish new data center regions in Stavanger and in Oslo.

Oil explorers get best results in Norway since 2010 bonanza

Oil companies in Norway have more to rejoice about than just higher crude prices: they’re now boasting the best exploration results in almost a decade.

OPEC reaches decision on output boost

Brent crude gained in London as OPEC ministers were said to agree upon a deal in principle to boost production.

Russia-Saudi plans for super-OPEC could reshape global oil order

When the group overseeing the so-called OPEC+ deal met last night, proceedings were dominated by two nations: Saudi Arabia and Russia. It was probably a snapshot of the oil market’s future.

Noia Oil & Gas Conference 2018 comes to a close

The Newfoundland and Labrador Oil & Gas Industries Association (Noia) 34th annual oil & gas conference was held this week at the St. John’s Convention Centre. Themed Redefining Oil: The Time is Now, the conference heard from a variety of speakers with the themes of regulatory clarity and investment support.

Saudis take oil consumers' side as OPEC nears pivotal talks

With fewer than 24 hours to go before a pivotal meeting, Saudi Arabia urged OPEC to help consumers by boosting oil supply as opposition from arch-rival Iran showed signs of wavering.

IPAA supports onshore permitting, regulatory reform legislation

Independent Petroleum Association of America (IPAA) President and CEO Barry Russell in a letter praised the House Committee on Natural Resources for advancing smart, thoughtful solutions that would remove bureaucratic regulatory burdens to safe and responsible oil and natural gas development on public lands.

Unfractured wells growing as Permian pipeline scarcity worsens

Pipeline bottlenecks in North America’s biggest oil field are so pervasive that drillers are quitting new wells at a record pace. And it’s about to get a lot worse.

Saltwater disposal: What can a change of direction do for you?

For operators in the Permian basin, executing successful drilling programs hinges on an ability to manage the flowback and produced water associated with new wells coming online.

Oil industry stands on threshold of historic step change in demand for its products

The oil and gas industry stands on the threshold of an historic step change in the demand for its products, driven by growth in every major market, according to His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO.

OPEC races to salvage oil deal after Iran, Saudi clash

OPEC officials meeting in Vienna raced to salvage an oil-production deal on Wednesday after Iran said it was likely to reject any agreement that raised output from the group.

Shale giant says Permian oil faces shut ins on pipe shortage

The biggest U.S. shale region will have to shut wells within four months because there aren’t enough pipelines to get the oil to customers.

OPEC's plunging spare capacity poised to boost forward oil curve

What happens if the Organization of Petroleum Exporting Countries can’t pump enough oil?

Saudi dilemma: Output boost could hurt its oil-based economy

Saudi Arabia’s plan to halt the oil-price rally could hurt its economy, depriving the kingdom of billions of dollars in income that it needs more than other OPEC members.

OPEC faces a bigger problem in Washington than Trump tweets

OPEC is facing a renewed political assault in Washington, directly from President Trump’s Twitter account, and from Congress.

In Icahn-SandRidge tiff, bitter words hide overlapping targets

The oil industry’s ugliest battle is heading for a climax in Oklahoma City on Tuesday. But SandRidge Energy Inc. is probably bound for the auction block anyway.

Baytex Energy, Raging River Exploration announce merger valued at $5 billion

Baytex Energy Corp. and Raging River Exploration Inc. have announced that their respective boards of directors have unanimously agreed to a strategic combination of the two companies.

Industry needs to demonstrate "license to operate," says new OE2019 chair

The energy industry has to continuously demonstrate its excellence in order to maintain a ‘license to operate’, says the newly appointed conference chair of SPE Offshore Europe 2019 Michael Borrell, senior V.P., North Sea and Russia at Total.

Iran says three OPEC members to veto Saudi-proposed supply boost

Iran says Venezuela and Iraq will join it in blocking a proposal to increase oil production that’s backed by Saudi Arabia and Russia when OPEC and its allies meet in Vienna this week.