Production ///

ExxonMobil acquires exploration, production rights for Ghana's Cape Three Points

ExxonMobil today announced that it has signed a petroleum agreement with the government of Ghana to acquire exploration and production rights for the Deepwater Cape Three Points block.

Crude loses upward momentum amid U.S. output growth worries

Crude edged lower amid predictions of a steep hike in U.S. crude output this year.

Giant Kashagan oilfield resumes output after power disruption

Kazakhstan’s giant Kashagan oilfield is resuming production after power disruptions cut output this week.

Nigeria moves closer to energy overhaul with new oil bill

Nigeria’s House of Representatives passed a bill governing the country’s energy sector after the Senate did so in May, taking Africa’s top oil producer one step closer to a much-awaited overhaul of the key industry.

Prospex Oil and Gas reports significant commercial gas discovery onshore Italy

Prospex Oil and Gas Plc, the AIM quoted investment company, is pleased to announce that it has been advised by the operator Po Valley Energy Limited (PVE) that strong flowrates from testing operations have confirmed a significant commercial gas discovery at the Podere Maiar-1d appraisal/redevelopment well.

Oil outpaces ruble giving Russian drillers cause for cheer

Russia’s oil producers are enjoying near record crude prices -- in rubles -- and having their best start to the year since 2015. As the nation prepares to discuss its deal with OPEC allies in Oman this weekend, analysts say the good times will continue.

Kurdish gas project gets boost amid political tumult

Plans to export natural gas from Iraqi Kurdistan got a boost after reserves were upgraded at two key fields. Yet successful development still hinges on the region’s turbulent politics.

Tanker with Russian gas for Boston makes mid-Atlantic U-turn

Three weeks after picking up a controversial cargo in the UK, a liquefied natural gas tanker made a U-turn one day before it was due to deliver it in Boston.

IEA prediction of explosive U.S. oil growth stokes OPEC fears

OPEC’s fear that another surge of shale oil could neutralize its production cuts might be coming true.

Keystone XL pipeline gets enough shipper pledges to proceed

TransCanada Corp. has enough customer interest to go forward with the Keystone XL oil pipeline, if the company decides to build it.

Tullow Oil, Eco Atlantic enter Phase Two for Orinduik Block, offshore Guyana

Eco (Atlantic) Oil & Gas Ltd., the oil and gas exploration company with licenses in highly prospective regions in South America and Africa, announces that at the Company and Tullow Oil (together “the Partners”) on the Orinduik Block, have elected to enter Phase Two of the Initial Period under the Petroleum Agreement and Prospecting License, Orinduik Block, offshore Guyana.

Nigeria's Shoreline in $530-million deal to boost oil output

Shoreline Group, a Nigerian oil producer, plans to almost double its crude output after agreeing a $530-million finance deal with Vitol Group and local lenders.

An oil giant shrinks in Asia as dirty skies turn cash toward gas

China’s crude oil production will likely extend it’s slide into a third year as state-run giants focus on pumping natural gas to meet President Xi Jinping’s drive to use more of the cleaner-burning fuel.

OPEC-Russia deal faces a new danger: Too much winning

When OPEC and Russia meet this weekend to review their strategy for clearing a global oil glut, they’ll face an unusual problem: it could be working just a bit too well.

RRC Chairman Craddick: When it comes to NAFTA, mend it—don't end it

Many Texans support NAFTA based on the premise that it allows American workers and businesses to compete on a level playing field with anyone in the world.

Talos Energy reports initial production from Tornado II

Talos Energy LLC has announced initial production from the Tornado II deepwater well (GC 281 #2ST), located in Phoenix field of the Green Canyon area of the Gulf of Mexico in approximately 2,700 ft of water.

Mozambique's gas-rich north faces specter of further attacks

Sporadic attacks by gunmen in northern Mozambique will probably continue although they’re unlikely to hurt investment in the region’s sizable gas resources, Control Risks Ltd. said, after seven people were killed in raids in the past week.

Kuwait says exit from oil cuts not on table as prices rise

OPEC and other global oil producers including Russia won’t be discussing how to end output cuts when they meet this weekend in Oman even as crude prices have recently been rising, Kuwait’s oil minister said.

Flow of unwanted oil from China is set to turn into a deluge

The pace at which China exports the fuel it doesn’t want is set to jump by more than four times in 2018, according to the nation’s biggest energy producer.

What's ahead for western Europe's biggest oil nation

After suffering through the worst crisis in a generation, Norway’s oil industry is now back on its feet.