Production ///

Petrobras reports oil and gas production from October

Petrobras reports that its total oil and natural gas production in October was 2.77 MMboed, with 2.67 MMboed produced in Brazil and 104,000 boed produced abroad.

Oil climbs as Saudi Arabia seeks to dispel doubts over Russia

Oil climbed, paring losses earlier this week, as Saudi Arabia moved to dispel doubts over Russia’s readiness to extend output curbs.

Norway idea to exit oil stocks is `shot heard around the world'

Norway’s proposal to sell off $35 billion in oil and gas stocks brings sudden and unparalleled heft to a once-grassroots movement to enlist investors in the fight against climate change.

Saudi Arabia says OPEC should extend cuts in meeting this month

Saudi Arabia’s Energy Minister said OPEC and its allies should announce an extension of their output curbs when they gather at the end of this month.

Deloitte, FOROIL deploy Digital Oil Recovery to increase recovery from brownfields

Deloitte has announced an exclusive go-to-market collaboration with FOROIL to help upstream clients dramatically increase production and reserves from brownfields – conventional oilfields with more than seven years’ operating history – using historic production data, breakthrough mathematical modeling and high-performance computing.

Consent granted for start-up of production from Maria field

The Norwegian Petroleum Directorate has granted consent for start-up of production from the Maria field in the Norwegian Sea.

Oil trades near $55 as investors wait for clarity on OPEC action

Oil slid toward $55/bbl as traders who were once certain OPEC and Russia would extend their output cuts beyond March aren’t so sure anymore.

Shale boss Hamm gives oil forecasters a reality check

The boom in U.S. shale-oil production requires "more sophisticated" forecasting than ever, billionaire oilman Harold Hamm said in an interview.

ADES wins contract for ADMARINE III jackup with Egypt's GPC

ADES International Holding Ltd., the London-listed company providing offshore and onshore oil and gas drilling and production services in the Middle East and Africa through its subsidiaries, is pleased to announce that it has been awarded a new contract for its ADMARINE III offshore jackup rig.

Santos seen luring more bids after rejecting $7.2-billion offer

A bid for Santos Ltd. may trigger counter offers for the Australian oil and gas producer that has stakes in some of the world’s cheapest liquefied natural gas.

Shale goal in sight: Pump with a profit, without hurting growth

Shale drillers are promising to add a new wrinkle to their world-shaking oil boom: they may finally make money.

OPEC meeting approaches with no clear plan on how to extend cuts

Fifteen days from now, nations that pump more than half the world’s oil gather in Vienna to discuss extending the production cuts that helped lift prices to two-year highs. The outcome is far from certain.

Oilman Harold Hamm set to talk crude outlook with EIA—the agency he blasted

The U.S. Energy Information Administration is set to discuss trends in crude production, and it’s invited one of its most vocal critics to join the party.

Oil retreats as IEA casts dark cloud over 2018 market outlook

Crude took a step back now that 2018 isn’t looking so hot anymore.

U.S. to dominate oil markets after biggest boom in world history

The U.S. will be a dominant force in global oil and gas markets for many years to come as the shale boom becomes the biggest supply surge in history, the International Energy Agency predicted.

Emerging oil bonds deemed too expensive to rise with crude

In a sign emerging-market Eurobonds may have reached their peak, oil exporters’ foreign debt is getting little to no lift from the spike in crude prices.

Buying Texas oil at New Mexico prices: Majors go west for shale

The state, which covers a smaller part of the oil-soaked shale formation, is the fourth-largest U.S. producer and luring industry giants including ExxonMobil, Chevron Corp., EOG Resources Inc. and Occidental Petroleum Corp. Their investments -- while small compared with Texas -- are increasing as activity in the rest of the Permian starts to slow down.

UAE joins gathering consensus to extend oil output cuts

OPEC and allied oil producers should extend their production cuts beyond March to help re-balance the market, the United Arab Emirates said, adding weight to a gathering consensus for longer reductions in output among participants in the global accord.

Breakup of Saudi-Russian alliance would collapse crude prices, Citigroup says

The Saudi- and Russia-led supply limits that have lifted crude to a 2 1/2-year high must be prolonged for an extended period or prices will collapse, said Ed Morse, global head of commodities research at Citigroup Inc.

Woodside tumbles most in 16 months after Shell to sell stake

Woodside Petroleum Ltd. fell the most in 16 months after Europe’s biggest oil company, Royal Dutch Shell Plc, said it would offloaded its entire holding in the Australian liquefied natural gas producer for $2.7 billion.