Production ///

As OPEC infighting continues, U.S. becomes swing producer

When OPEC members couldn't agree at their April meeting to cap oil output in an effort to boost prices, did it signal the end of the cartel's reign as the world's energy swing producer—leaving the door open for American shale producers to take over the crown?

DNV GL-led project gives green light for wind-powered oil recovery

The DNV GL-led WIN WIN Joint Industry Project (JIP) shows that for suitable fields, wind-powered water injection is technically feasible, capable of meeting performance targets, and offers a cost-competitive alternative to conventional water injection solutions.

Encana still finding cost savings as rout drags on

Encana Corp., the energy producer switching its focus to oil from natural gas, is still locking in double-digit cost savings even as the crude market downturn approaches two years.

Producers need ‘sustained price signal’ before output boost

The current oil price rally will only lure global producers into boosting output if it appears to be sustainable, according to the U.S. Secretary of Energy.

Oil bulls bet the waning U.S. shale boom will curb global glut

Hedge funds are rooting for a quick collapse of the U.S. shale boom.

Oil falls as surging OPEC production seen bolstering global glut

Oil fell from a five-month high as surging OPEC crude production is seen swelling global stockpiles.

Cnooc revenue drops as output gain outweighed by oil tumble

Cnooc Ltd., China’s biggest offshore oil and gas explorer, reported a 31% decline in revenue and an increase in output amid a crash in crude prices.

Tullow's Jubilee field to resume production offshore Ghana

Tullow Oil Plc said production at its flagship field offshore Ghana will resume in the next few days, while another project under development in the nation’s waters remains on track.

Suncor purchases additional Syncrude stake, holds majority

Suncor Energy will have a majority stake in the Syncrude Canada oil sands mine after the Canadian petroleum producer bought an additional stake from Murphy Oil Corp.’s Canadian subsidiary.

CNPC posts 52% decline in profit

China National Petroleum Corp. (CNPC), the country’s biggest oil and gas producer and the parent of PetroChina Co., said profit fell 52% as lower oil prices punished global explorers.

Aker Solutions and ABB join forces to power subsea production

Aker Solutions and ABB agreed to build on their combined strengths in subsea, power and automation technologies to develop solutions that will improve oil and gas production for the global energy industry.

Crude oil increases as excess global stockpile seen shrinking

Oil rose amid signs that a global surplus is gradually diminishing, even as markets remain oversupplied.

Russia sees no moves to cap oil output before June OPEC meeting

Russia doesn’t anticipate any new initiatives to freeze oil production before an OPEC meeting scheduled for June, according to Energy Minister Alexander Novak.

CNOOC starts production at Panyu 11-5 oil field in South China Sea

HONG KONG -- CNOOC’s Panyu 11-5 oil field has started production, the company said in a statement.

Gazprom Neft, Wintershall to cooperate on EOR research

Gazprom Neft PJSC and Wintershall Holding GmbH have signed a cooperation agreement for conducting research into enhanced oil recovery (EOR), aimed at maintaining or increasing oil production from mature fields.

Oil's recovery inches higher as fraclog awaits price trigger

Oil’s rebound from the lowest level in more than 12 years may face an abrupt halt as prices near a level that could trigger a wave of new U.S. shale production.

Pioneer Natural boosts full-year output target on shale gushers

Pioneer Natural Resources Co. lifted its 2016 production growth target without increasing spending because wells drilled in a West Texas shale field are pumping more crude than expected.

Exxon Mobil starts production at Point Thomson on Alaska’s North Slope

Exxon Mobil has started production at its Point Thomson project, the first company-operated project on Alaska’s North Slope.

Aramco said to expand oil field in May to maintain Saudi capacity

Saudi Arabian Oil Co. will complete the expansion of its Shaybah oil field by the end of May, allowing the biggest crude exporter in the world to maintain the level of its total production capacity, according to two people with knowledge of the plan.

Halliburton reports $2.1 billion charge on job cuts, assets

Halliburton Co., the world’s largest provider of fracing services, said it will take a $2.1-billion charge in the first quarter for the cost of reducing headcount and asset value write-offs as it grapples with the collapse of oil prices.