Production ///

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.

Eni signs E&P sharing agreement for Block 52, offshore Oman

The Government of the Sultanate of Oman, Oman Oil Company Exploration and Production (OOCEP), a subsidiary of state company Oman Oil Company SAOC (OOC), and Eni today entered into an Exploration and Production Sharing Agreement (EPSA) for Block 52, located offshore Oman.

IEA sees U.S. shale surge as biggest oil and gas boom in history

The supply surge from U.S. shale will beat the biggest gains seen in the history of the industry, the IEA predicted.

ADIPEC '17: Execs discuss the changing world of LNG

On the opening day of ADIPEC, executives from the LNG sector gathered for a heavy-hitting "C-Suite Dialogues" afternoon panel discussion to answer the question: "What is the future for natural gas and LNG in a low-carbon, low-cost landscape?"

Hess Corp. issues statement on impact from incident at Shell Enchilada platform

Hess Corporation has released a statement about the impact on its operations resulting from a fire at the Shell Enchilada platform in the Gulf of Mexico. Shell advised in a statement on Nov. 12 that a plan for repairing the damaged portions of the asset is being developed.

Russia's economy slowed more than forecast despite oil rally

Russia’s economy slowed more than forecast despite a bull-market rally in oil, its chief export, ending three quarters of accelerating growth that followed the country’s worst recession this century.

Rising oil portends long pause as India prepares for rate review

After long undershooting its predictions, data on Monday showed consumer prices rose the most in seven months. The pace may only accelerate due to rebounding global oil prices.

OPEC boosts 2018 demand forecast, signaling faster rebalancing

OPEC boosted forecasts of demand for its crude in 2018, signaling that the rebalancing of the global market could gather pace.