Production ///

Nearly 3 MMbbl of Arctic oil delivered to Europe, Gazprom Neft says

The Kirill Lavrov tanker has delivered a new batch of ARCO Arctic oil to Europe in its sixth shipment of oil, Gazprom Neft announced Friday. More than 2.9 MMbbl of oil have been extracted from Prirazlomnoye oil field since production began.

Iran oil could hurt U.S. production if domestic sanctions remain

U.S. Sen. Lisa Murkowski, R-Alaska, drew attention to the potential impact that ending sanctions against Iran could have on U.S. production if the outdated prohibition on exporting domestic crude oil is not also lifted.

Oil rises to four-month high on speculation production slowing

NEW YORK (Bloomberg) -- Oil rose to the highest level in almost four months on speculation that slowing production will ease a supply glut.

Shale wells turn to cash gushers as costs fall

The profitability of some U.S. shale wells at current prices will almost double as cost cutting and technology turns them into cash gushers despite oil’s crash.

Valemon officially opened, Statoil says

NORTH SEA -- Norway’s petroleum and energy minister, Tord Lien, has officially opened the Valemon gas and condensate field in the North Sea, Statoil announced Thursday. Expected recoverable reserves from the field are 192 MMboe.

EPA highlights decline in methane emissions from natural gas production

A new EPA report shows continued decline in methane emissions from natural gas production, as operators capture and deliver more natural gas to consumers, the American Petroleum Institute (API) said.

Saudi Arabia adds half a Bakken to global oil market in a month

Saudi Arabia led a surge in OPEC crude oil production in March.

Iona Energy announces Huntington back onstream

Iona Energy has announced that the four production wells at Huntington field in the UK North Sea are now fully back onstream.

Upstream M&A activity takes $2 billion slump in March 2015, GlobalData says

Merger and Acquisition (M&A) values in the upstream oil and gas sector decreased significantly to $829.8 million in March 2015, compared with $2.9 billion in the previous month, according to research and consulting firm GlobalData.

U.S. oil output keeps climbing even as producers drill fewer wells

HOUSTON (Bloomberg) -- The U.S. keeps pumping oil at a near-record pace, in spite of the collapse in prices over the past year and cutbacks in drilling.

Oil rises to 2015 high as data signals end of U.S. supply surge

NEW YORK (Bloomberg) -- Oil surged to the highest level of the year, as a break in the U.S. shale boom signaled a potential easing of the biggest supply glut since 1930.

U.S. becoming net energy exporter for first time since 1950s

NEW YORK (Bloomberg) -- The U.S. government said for the first time that the nation will become a net energy exporter within 15 years as the shale boom bolsters crude oil production.

Anadarko may sign Mozambique gas-supply deals in coming months

MAPUTO, Mozambique (Bloomberg) -- Anadarko Petroleum Corp. may soon close sales accords, enabling it to this year authorize a Mozambican project that has the potential to make the nation a top-three liquefied natural gas exporter, a company official said.

Arcticgas brings Yaro-Yakhinskoye field onstream

OAO Novatek has announced that Arcticgas—a joint venture between Novatek and Gazprom Neft—has launched Yaro-Yakhinskoye field, which is the third field launched into commercial production by this joint venture.

LGO spuds first well of 2015 Goudron program

LGO has started drilling the first well in its 2015 seven-well development program at Goudron field in Trinidad.

Oil CEO wages immune to price slump as shareholders vote on pay

Oil’s plunge has forced the world’s biggest energy producers to lay off workers and stall projects. Their CEOs have so far proved immune.

IEA sees OPEC supply jumping most in four years on Saudi surge

OPEC production climbed by the most in almost four years as Saudi Arabia, Iraq and Libya boosted output amid a stronger outlook for global oil demand, according to the International Energy Agency.

Swiber secures $133-million EPIC contract in India

Swiber Holdings has secured a $133 million contract, the third major award in India in the last three months, for engineering, procurement, installation and construction (EPIC) services in India.

Supermajors' Q1 earnings to be the weakest in recent memory: Douglas-Westwood

Despite major cost reduction measures, first-quarter earnings for supermajors are expected to be the weakest in recent memory, according to Douglas-Westwood's DW Monday.

KrisEnergy's Rossukon-3 well hits oil, gas offshore Thailand

KrisEnergy has announced that the Rossukon-3 exploration well in G6/48 in the Gulf of Thailand has encountered oil and gas bearing sandstones.