WellDog has partnered with the Enhanced Oil Recovery Institute (EORI) to adapt WellDog’s patented downhole Reservoir Raman system for use in oil fields using CO2 to enhance the recovery of oil.
Canadian oil sands producers are finally ready to grow again as Cenovus Energy and Canadian Natural Resources announce they are pushing ahead with expansion projects two years into the worst crude slump in decades.
Hedge fund manager Pierre Andurand expects the combined output cut agreed to by OPEC and Russia will boost oil to $70/bbl in the first half of next year.
OPEC is likely to bring the oil market into balance by the middle of next year, but its production cut looks set to fall short of its stated goal of draining the stockpiles that are depressing prices.
Devon Energy has announced an increase to its risked drilling inventory in the Delaware basin following a successful Leonard Shale stacked spacing test in southeast New Mexico.
OMV Petrom begins experimental gas production from Romania's Padina field.
Commodity trader Glencore and Qatar’s sovereign wealth fund agreed to buy a 10.2-billion euro ($11-billion) stake in Russia’s largest oil producer from the state in a triumph for President Vladimir Putin over sanctions imposed by the West.
Iraq can’t count on self-governed Kurds in the country’s north or international oil companies to help it cut crude production as promised at an OPEC meeting last week.
Oil-hauling supertankers are bracing for the worst earnings year since 2013 as they become collateral damage in OPEC’s quest to trim a global glut of crude.
Oil fell in New York on speculation that OPEC production cuts will bolster U.S. shale production, and amid signs that the organization won’t insist all its partners deliberately reduce output.
Oil traded near $51 a barrel amid speculation a production boost from U.S. shale producers will counter the first output cuts from OPEC in eight years.
Royal Dutch Shell and Total will sign initial agreements on Wednesday to develop oil and gas fields in Iran, in the first European petroleum deals in the Persian Gulf country since sanctions eased earlier this year, an Oil Ministry official said.
A global oil output cut of 1.8 MMbpd would be enough to balance the market, and OPEC is ready to take further action if prices fail to stabilize, United Arab Emirates Energy Minister Suhail Al Mazrouei said.
Kuwait and Saudi Arabia agreed that any resumption of crude production from shared oil fields along their border won’t raise their output beyond limits set at an OPEC meeting last week, according to two officials familiar with the talks.
WellAware has announced the launch of the WellAware Integrated Radio and Controller for oil and gas producers as well as a global distribution collaboration with Landmark, a Halliburton business line and a leading provider of E&P software.
Big Oil may have to play a part in cutting supply after the landmark agreement between OPEC and non-OPEC producers last week.
President-elect Donald Trump backs the Dakota Access Pipeline and will review a decision by the Obama administration to deny a permit needed to complete the $3.8-billion project, a spokesman said.
OPEC has invited 14 other crude producers, who together pump about a fifth of the world’s oil, to talks this week in Vienna aimed at securing wider cooperation with production cuts.
For the three titans of Latin American oil—Pemex, PDVSA and Petrobras—last week’s OPEC-driven price rally won’t be enough to halt a slow descent from the ranks of international crude heavyweights.