When OPEC members couldn't agree at their April meeting to cap oil output in an effort to boost prices, did it signal the end of the cartel's reign as the world's energy swing producer—leaving the door open for American shale producers to take over the crown?
The DNV GL-led WIN WIN Joint Industry Project (JIP) shows that for suitable fields, wind-powered water injection is technically feasible, capable of meeting performance targets, and offers a cost-competitive alternative to conventional water injection solutions.
Encana Corp., the energy producer switching its focus to oil from natural gas, is still locking in double-digit cost savings even as the crude market downturn approaches two years.
The current oil price rally will only lure global producers into boosting output if it appears to be sustainable, according to the U.S. Secretary of Energy.
Hedge funds are rooting for a quick collapse of the U.S. shale boom.
Oil fell from a five-month high as surging OPEC crude production is seen swelling global stockpiles.
Cnooc Ltd., China’s biggest offshore oil and gas explorer, reported a 31% decline in revenue and an increase in output amid a crash in crude prices.
Tullow Oil Plc said production at its flagship field offshore Ghana will resume in the next few days, while another project under development in the nation’s waters remains on track.
Suncor Energy will have a majority stake in the Syncrude Canada oil sands mine after the Canadian petroleum producer bought an additional stake from Murphy Oil Corp.’s Canadian subsidiary.
China National Petroleum Corp. (CNPC), the country’s biggest oil and gas producer and the parent of PetroChina Co., said profit fell 52% as lower oil prices punished global explorers.
Aker Solutions and ABB agreed to build on their combined strengths in subsea, power and automation technologies to develop solutions that will improve oil and gas production for the global energy industry.
Oil rose amid signs that a global surplus is gradually diminishing, even as markets remain oversupplied.
Russia doesn’t anticipate any new initiatives to freeze oil production before an OPEC meeting scheduled for June, according to Energy Minister Alexander Novak.
HONG KONG -- CNOOC’s Panyu 11-5 oil field has started production, the company said in a statement.
Gazprom Neft PJSC and Wintershall Holding GmbH have signed a cooperation agreement for conducting research into enhanced oil recovery (EOR), aimed at maintaining or increasing oil production from mature fields.
Oil’s rebound from the lowest level in more than 12 years may face an abrupt halt as prices near a level that could trigger a wave of new U.S. shale production.
Pioneer Natural Resources Co. lifted its 2016 production growth target without increasing spending because wells drilled in a West Texas shale field are pumping more crude than expected.
Exxon Mobil has started production at its Point Thomson project, the first company-operated project on Alaska’s North Slope.
Saudi Arabian Oil Co. will complete the expansion of its Shaybah oil field by the end of May, allowing the biggest crude exporter in the world to maintain the level of its total production capacity, according to two people with knowledge of the plan.
Halliburton Co., the world’s largest provider of fracing services, said it will take a $2.1-billion charge in the first quarter for the cost of reducing headcount and asset value write-offs as it grapples with the collapse of oil prices.