Production ///

Saudis take aim at swollen U.S. oil stockpiles in strategy shift

After sparing its prized U.S. market from oil-output cuts, Saudi Arabia plans to "markedly" reduce exports to its political ally in the coming weeks in an effort to reduce swollen and highly visible crude inventories in the world’s biggest consumer.

Kinder Morgan commits to pipe linking Canadian crude to Asian markets

Kinder Morgan Inc. has committed to expanding a pipeline that will allow Canadian crude to be exported to Asia, a controversial C$7.4 billion ($5.5 billion) project that’s set to face revitalized opposition amid political upheaval in the nation’s Pacific Coast province.

GE Oil & Gas and Alpha Petroleum to partner on North Sea’s Cheviot oil field

Alpha Petroleum, which is backed by upstream oil and gas investment firm Petroleum Equity, today announces an agreement with GE Oil & Gas to partner on the advancement of the subsea infrastructure for the Cheviot oil field, one of the largest undeveloped fields in the UK North Sea with 55 MMbbl of oil and 20 MMboe of future gas production.

OPEC leaves market guessing on exit strategy after oil pact

OPEC may be celebrating an historic deal to extend supply cuts, but after the party, the organization will face a trio of questions it left unanswered.

Goldman warns OPEC faces test as spectre of U.S. shale looms

As the oil market responds skeptically to OPEC’s output-cut deal, Goldman Sachs Group Inc. says the group has some challenges to tackle.

Shell announces start of deepwater production at newest FPSO in Santos basin

Royal Dutch Shell plc, through its subsidiary BG E&P Brasil Ltda. (Shell) and consortium partners in Lula South, announce today that deepwater production has started at the FPSO P-66, which is located in the Brazilian pre-salt of the Santos basin.

Russia's Novak sees room to do more for oil after OPEC flop

After top oil exporters failed to impress markets with their extended supply cuts, Russia’s Alexander Novak said there’s more they can do.

Crude slumps below $50 as market is underwhelmed by OPEC deal

Oil fell below $50 after OPEC stuck to the most predictable outcome at a meeting in Vienna.

First oil expected from Kraken in June, says EnQuest CEO

EnQuest CEO Amjad Bseisu said that Kraken is 'on track' for first oil by the end of June.

Crude oil weakens as OPEC disappoints with `safe bet' extension

Oil weakened after OPEC was said to agree to extend output cuts for another nine months, disappointing investors who had hoped for more.

OPEC seen reducing crude exports to U.S., while U.S. ships more

OPEC is finally making the move that could help complete a mission that it’s failed so far: shipping less oil to the U.S., according to Sanford C. Bernstein.

Venezuela’s secret plot to sell banned Syrian oil in U.S. market

Syria and Venezuela plotted in recent years to evade international sanctions on Syria through a secret deal to transport its crude oil through Russia to the Caribbean.

Oil shrugs off U.S. supply drop as investors await OPEC meeting

Oil investors shrugged off declining U.S. stockpiles as they held their breath ahead of OPEC’s meeting on Thursday.

Trump proposes $204.9 million budget for BSEE in 2018

President Donald Trump has proposed a $204.9 million Fiscal Year (FY) 2018 budget for the Bureau of Safety and Environmental Enforcement (BSEE).

Iran's maxed-out crude output eases OPEC push to extend cuts

Iran’s oil industry bounced back from sanctions last year, cranking up output to recover market share from other OPEC producers. Now that its surge has topped out, Iran supports an extension of the group’s cuts to preserve those gains.

Billionaire Ratcliffe hunts oil to repeat chemicals empire

Billionaire Jim Ratcliffe is seeking to replicate in oil what he did two decades ago to make Ineos AG into one of the world’s five biggest chemicals producers.

DONG Energy divests upstream business to INEOS

DONG Energy has today agreed to divest the entire share capital of DONG E&P A/S to INEOS for an unconditional payment of DKK 7.0 billion on a cash and debt free basis, a contingent payment of $150 million (DKK 1.0 billion) related to the Fredericia stabilization plant and a contingent payment of up to $100 million (DKK 0.7 billion) subject to the development of Rosebank field.

Statoil to start producing from Norway's Gina Krog field

The Norwegian Petroleum Directorate has granted consent for start-up of production from the Gina Krog field in the North Sea, and the operator—Statoil—is planning start-up in late June 2017.

Oil holds gain as data show U.S. supplies fall before OPEC meets

Oil rose a sixth consecutive day as industry data showed U.S. crude stockpiles declined before OPEC meets to decide on extending supply cuts.

Serinus Energy halts production in Tunisia, as protestors block roadways

Serinus Energy Inc. has announced that it has temporarily shut-in production at Sabria field in Tunisia, due to continued social unrest in the southern part of the country.