Production ///

Oil declines after U.S. crude stockpiles advance in ninth week

Oil retreated after a government report showed that U.S. crude, gasoline and distillate fuel stockpiles increased.

Crude storage tanks nearing their brim spur ‘super contango’

Surging U.S. crude stockpiles that have filled storage tanks near capacity are widening the discount on immediate oil deliveries.

Russia halts natural gas supplies to Ukraine as payments end

Russia halted natural gas supplies to Ukraine after its western neighbor said it wouldn’t buy more this year amid ample supply.

qedi wins commissioning contract from Apache North Sea

qedi, Amec Foster Wheeler's completions and commissioning provider, has been awarded a commissioning contract from Apache North Sea for the brownfield modifications on all their North Sea assets.

BG starts commercial operations from second train at Queensland Curtis LNG

BG Group has started commercial operations from the second train at its Queensland Curtis LNG (QCLNG) plant.

China oil giants seek asset sales as clock ticks to year-end

China’s biggest energy companies are seeking to unload assets and urging workers to cut costs in a last- minute rush to meet annual government-set growth targets as lower crude prices drag down earnings.

Ophir Energy said to receive merger interest amid oil slump

Ophir Energy Plc, the U.K. oil and gas explorer active in Africa, has received informal takeover and merger interest from several parties as a slump in crude oil prices forces independent operators to consolidate, according to people with knowledge of the matter.

Introducing the new OPEC member that likes lower oil prices

After defending the interests of oil- exporting nations for five decades, OPEC has made a surprising choice with its newest member: a country that consumes about twice as much crude as it pumps.

Egypt’s Zohr gas field could boost other east Mediterranean projects: GlobalData

With the giant Zohr gas field in Egypt expected to come online by 2018, and President Abdel Fattah Al-Sisi agreeing to remove any political obstacles to Eni commercializing the field, the stage is being set for a wider regional development plan catalyzing other projects in the east Mediterranean, according to GlobalData.

Repsol reports record production in Bolivia

Repsol chairman, Antonio Brufau, and the president of Bolivia, Evo Morales, have announced the conclusion of the third phase of the Margarita-Huacaya project, the field with the largest production in the history of Bolivia.

Electric fault curbs Alvheim FPSO production capacity

Production capacity at the Alvheim FPSO will be reduced for about four weeks due to an electric fault in the high voltage drive motor for one of the vessel's gas export compressors, Det norske oljeselskap said Tuesday.

Vaca Muerta shale to double production by 2018, Wood Mac says

Production from Latin America's premier shale play, the Vaca Muerta, is expected to double by 2018, according to a new development study by Wood Mackenzie. Argentina's massive play continues to be the most prospective tight oil play outside of North America.

OPEC seen holding the line as $40 crude looms over Vienna

It’ll take more than $40 crude to make OPEC change its mind, analysts said before the group’s Dec. 4 meeting in Vienna.

Oil bulls see little chance of help from OPEC as supply grows

Hedge funds are betting OPEC won’t do anything next month to keep crude oil above $40/bbl.

Oil declines as Venezuela sees mid-$20 crude on OPEC inaction

Oil extended its decline as Venezuela predicted prices may drop to as low as the mid-$20s/bbl unless OPEC takes action to stabilize the market.

Global oil job cuts top quarter-million as rigs at five-year low

The number of jobs gutted from oil and gas companies around the world has now passed the 250,000 mark, with still more to come, according to industry consultant Graves & Co.

NuTech Energy acquires Emerald Operating and Rocky Mountain Exploration

NuTech Energy Resources, Inc., a natural gas and oil exploration and development company, is pleased to announce that the Company has entered into an agreement to acquire wells from Emerald Operating Company and Rocky Mountain Exploration, Inc.

Africa oil boom fades as $50 crude shuts door on high-cost deals

Oil below $50 has made more than two out of three investment projects on the continent non-viable.

Suncor and Canadian Oil Sands CEOs both say they’ve won

The chief executive officers of Suncor Energy Inc. and Canadian Oil Sands Ltd. both say they’ve got votes on their side as the nation’s top crude producer promotes a hostile takeover bid for its smaller rival. One of them is going to be disappointed.

Murkowski welcomes approval of U.S.-Mexico oil exchange license

U.S. Sen. Lisa Murkowski (R – Alaska) has applauded the U.S. Department of Commerce’s confirmation that the agency did in fact issue a cross-border oil exchange license with Mexico.