Production ///

Qatar says it's fulfilling oil and gas deals despite Gulf crisis

Qatar, the world’s largest exporter of liquefied natural gas, is fulfilling all of its contracted shipments of oil and gas despite a regional political crisis that led to the severing of ties with some of its neighbors, the Gulf country’s energy minister said.

IEA sees strongest global oil-demand growth in two years

Global oil demand will climb this year by the most since 2015, the IEA said, amid stronger-than-expected consumption in Europe and the U.S.

Schlumberger announces DELFI cognitive E&P environment

Schlumberger unveiled the new DELFI cognitive E&P environment at the SIS Global Forum. This environment enables collaboration across E&P teams and leverages the full potential of all available data and science to optimize assets.

Norway prime minister wins second term as insurgency against oil fizzles

Prime Minister Erna Solberg became Norway’s first Conservative Party leader in over three decades to be re-elected as a movement to stop further oil exploration in western Europe’s biggest petroleum producer fizzled.

OPEC increases global oil demand forecasts on Europe, China

OPEC raised estimates for the amount of crude it will need to supply next year amid a stronger outlook for global oil demand.

UN sanctions to cut North Korea's fuel imports as crude keeps flowing

New United Nations sanctions on North Korea will cut imports of fuels such as gasoline and diesel by almost 56% while capping shipments of crude at current levels, according to the U.S.

Oil steadies near $48 as U.S. refiners return after Irma, Harvey

Oil steadied near $48/bbl as refiners on the U.S. Gulf Coast continued to recover following two strikes from Hurricane Harvey, while Irma weakened further after moving inland.

OPEC is said to discuss extending cuts by more than three months

OPEC is discussing extending by more than three months the oil production cuts that expire in March 2018 in an effort to boost prices.

Flood-hit India's oil demand falls the most in 14 years

India’s oil consumption in August shrank 6.1%, the most since April 2003, as floods ravaged several parts of the country curbing demand for diesel and gasoline.

Saudi Arabia open to another OPEC cuts extension

Saudi Arabian Energy Minister Khalid Al-Falih agreed with his Venezuelan and Kazakh counterparts to keep all options open in their push to re-balance world oil markets, including the possible extension of output cuts beyond next March.

LNG glut may flip to deficit as Cheniere sees China growth

The global glut plaguing liquefied natural gas markets may start to dwindle in five years, threatening to spur a deficit equivalent to twice the output of leading producer Qatar.

Oil's post-Harvey rally stalls with refinery restarts still iffy

Oil barely budged on Thursday as doubts linger over the restart of refineries that are flickering back to life in the wake of Hurricane Harvey.

OPEC deal extension would benefit Russia, finance minister says

Russia would benefit from extending the accord with OPEC to limit oil production, said the country’s finance minister.

Rosneft, Statoil to move development of North-Komsomolskoye field into the next phase

RN-Exploration and Production LLC, Rosneft subsidiary and Statoil Russia AS, Statoil ASA subsidiary, signed the shareholders and operating agreement at the Eastern Economic Forum. The document is signed with regards to SevKomNeftegaz LLC, an enterprise that will serve as a basis for a future North-Komsomolskoye joint field development.

U.S. said to seek ban at UN on crude oil to North Korea

The U.S. is circulating a draft resolution at the United Nations that would bar crude oil shipments to North Korea, ban the nation’s exports of textiles and prohibit employment of its guest workers by other countries, according to a diplomat at the world body.

Oil for U.S. hawked to others as storm snarls flows of crude

Sellers of crude to U.S. refineries that are still assessing the damage from Hurricane Harvey are seeking an alternative home for their supply.

EIC launches new O&M database at Offshore Europe

The Energy Industries Council (EIC), the leading trade association for companies that supply goods and services to the energy industries worldwide, has launched its newest business development tool, EICAssetMap, at Offshore Europe 2017.

Oil heads for four-week high as demand for crude rises

Oil approached a four-week high as refiners revved up plants pounded by Hurricane Harvey, sparking demand for crude.

Devon Energy provides preliminary update regarding impact of Hurricane Harvey

Devon Energy Corp. today provided a preliminary update on the impact of Hurricane Harvey to the company’s Eagle Ford operations in South Texas.

Shell sees gas shortage risk triggering Australia LNG export cut

The world’s second-biggest liquefied natural gas exporting nation will probably curb shipments next year to avoid a domestic shortfall of the fuel, according to the Australian head of Royal Dutch Shell Plc.