Production ///

OPEC is at ‘hardest’ stage in its history, secretary-general says

OPEC Secretary-General Mohammed Barkindo said the 14-nation group is facing its toughest challenge as members debate oil-production cuts needed to balance the market.

Honeywell to control Statoil's Valemon platform remotely from onshore location

Honeywell Process Solutions (HPS) is to provide advanced automation and safety solutions to enable remote onshore operation for an unmanned offshore platform in the North Sea, reducing overall production costs and improving safety.

First phase of BP’s massive gas project in Oman nears completion

The first phase of BP Oman’s Khazzan natural gas project is 80% complete and on track to deliver first gas near the end of 2017, the company said in a statement.

Lukoil starts production at Siberia’s Pyakyakhinskoye field

Lukoil has started commercial production at Pyakyakhinskoye oil and gas condensate field in the Yamal-Nenets Autononous District, the company said Tuesday.

Norwegian regulator approves Ivar Aasen production start-up

The Norwegian Petroleum Directorate (NPD) has granted consent for the start of production from Ivar Aasen field in the North Sea. The operator, AkerBP, has scheduled output to start in December.

Iraq balks at joining OPEC cuts, making output deal harder

Iraq threw an obstacle in OPEC’s path toward a final deal to stabilize oil markets when it balked at joining efforts to trim output to prop up crude prices.

Russia’s rising oil-output forecasts give leverage in OPEC talks

As Russia gets ready for talks on cooperation with OPEC on Monday, it’s using the playbooks of Iran, Iraq and Venezuela to gain leverage.

Give U.S. a seat at OPEC output meeting, Venezuela says

Venezuelan President Nicolas Maduro wants to invite the U.S. to OPEC’s next meeting, saying the world’s biggest crude producer should be in on talks to stabilize global crude prices.

Santos quarterly sales rise 11% on production boost, LNG volumes

Santos, the Australian oil and gas company, reported an 11% rise in third-quarter sales due to a boost in production.

OPEC deal unlikely to lift oil prices for long, World Bank says

OPEC’s power to help lift oil prices by curbing output will be tested by the ability of shale-oil producers and other unconventional suppliers to ramp up production, the World Bank said.

U.S. gas production gives back August gains, IHS Markit says

U.S. natural gas production levels in the lower 48 states declined by nearly 1.2% in September as compared to August levels, according to analysis from IHS Markit.

Nigeria cuts oil prices, sees ‘huge cargo overhang’ in market

Nigeria cut the price of every type of crude it sells in an effort to regain its share of the global oil market share at a time when there’s a “huge” glut of cargoes.

OPEC price war offers meager rewards as U.S. shale survives

When the Organization of Petroleum Exporting Countries started its price war, the U.S. shale boom looked doomed.

Russian oil capable of ‘significant’ output growth, Rosneft CEO says

Russia’s largest oil company said the nation is capable of a substantial increase in production, less than two weeks after President Vladimir Putin pledged his support for international efforts to limit output.

Iran in talks with investors to bid on 50 oil and gas projects

Iran is negotiating with 16 international energy companies to help operate and manage 50 oil and natural gas projects around the country to boost production after years of international sanctions.

Qatargas, Petronas sign five-year LNG deal

Qatargas has signed a new five-year liquefied natural gas sale and purchase agreement (SPA) with Petronas LNG UK Limited (PLUK).

Casillas Petroleum acquires SCOOP acreage from Continental

Casillas Petroleum Resource Partners, a partnership between Casillas Petroleum Corp. and Kayne Anderson Energy Funds, has closed on the purchase of certain oil and gas assets owned by Continental Resources in the SCOOP play in Oklahoma for an adjusted purchase price of $294 million.

Oil seen stuck in $50 to $60 range as shale offsets OPEC action

The world should get used to oil prices between $50 and $60/bbl as falling costs in America’s shale fields counteract OPEC’s renewed commitment to supply management.

Saudis said to boost oil sales to China as pricing lures buyers

Saudi Arabia, which is marshaling a potential deal with global crude producers to limit output, is said to have lifted sales to the world’s second biggest oil consumer after cutting the pricing for its supply.

Condor Petroleum starts production at Kazakhstan's Taskuduk field

Condor Petroleum Inc. has announced that commercial oil production has commenced at Taskuduk field in Kazakhstan.