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January 05, 2024
The African nation’s December exit from OPEC came after the group imposed a much lower production limit. The tighter cap was too much for Angola, which is making efforts to boost investment after many years of underinvestment and production decline.
News
January 23, 2024
Coretrax, a global provider of oil and gas well integrity and production optimization, is set for further growth with five multi-year contract wins secured for 2024 and plans to grow its footprint in Asia Pacific by a further 30% this year.
News
February 02, 2024
About a quarter of the drop resulted from disruptions in Libya, which isn’t part of the planned cutbacks, and overall production remains several hundred thousand bpd above the collective limit as Iraq and the United Arab Emirates produce more than their quotas.
News
March 22, 2024
The integration of RMSpumptools technology will enhance ChampionX's Production and Automation Technologies portfolio, providing added value to the company’s customers worldwide.
News
November 14, 2023
The IEA boosted forecasts for world fuel consumption this year on surprising strength in China, and still anticipates a supply shortfall during the fourth quarter. But it will be roughly 30% smaller than previously projected, at about 900,000 bpd.
News
November 28, 2023
Companies including Shell Plc., Repsol SA, Hungary’s Mol Nyrt, Sweden’s Maha Energy AB, the National Gas Company of Trinidad and Tobago and Bolivia’s state gas company YPFB have sent delegations to Caracas since the U.S. lifted curbs on Venezuela’s oil sector last month, according to four people with knowledge of the situation.
News
December 21, 2023
Angola announced it’s leaving OPEC following 16 years of membership amid a dispute over oil production quotas, while the cartel tries to buoy global prices.
News
January 18, 2024
World consumption will swell by a “robust” 1.8 MMbpd next year, driven by China and a recovering global economy, OPEC said in its monthly market report.
News
February 12, 2024
The two companies, headquartered across the street from one another in Midland, the heart of the Permian basin, will have a combined 838,000 net acres and have net production of 816,000 boe, according to the statement.
News
March 28, 2024
Market sentiment still lacks the exuberance of early 2023, when traders widely proclaimed the return of $100 oil, but Wall Street banks like Morgan Stanley and trading giants such as Trafigura Group are predicting further price gains.
News
November 14, 2023
On its final morning last Friday, the Annual General Meeting of the International Association of Drilling Contractors (IADC) in Austin, Texas, featured a presentation by NOV of the 70th Annual Rig Census.
News
January 29, 2024
As the Baker Hughes Annual Meeting entered its first full day in Florence, Italy, on Monday, the firm’s Chairman, President and CEO, Lorenzo Simonelli (Fig. 1), set out an agenda for what he calls “energizing change,” for both his company and the industry as a whole.
News
March 22, 2024
The unabated thirst for crude contributed to an increasingly confident tone from executives at this year’s CERAWeek by S&P Global conference, the industry’s annual get together in Houston, America’s energy capital.
News
March 22, 2024
Chair and CEO Julia Sweet of Accenture put into words what most companies recognize: AI represents one of the “most exciting times to lead companies.” With AI, breakthroughs in operations efficiency and reducing emissions are much closer, so that the energy industry can enhance the core of what they do.
News
December 18, 2023
Operators are squeezing crude out of new wells more efficiently because of innovations in everything from electric-pump technology to new strategies for deploying workers while fracking wells to minimize downtime.
News
January 26, 2024
On Friday, Jan. 26, 2024, World Oil hosted its 56th annual Forecast Breakfast at the Norris Conference Center in Houston, Texas. In an event described as a “first look” at upcoming upstream oil and gas trends, approximately 340 professionals from across the sector gathered for an early-morning meal to hear projections, data and analysis on global E&P from industry experts.
News
November 21, 2023
Each wind turbine at the Hywind Tampen offshore park weighs as much as the Statue of Liberty and is linked to the seabed using powerful suction anchors. For Equinor ASA, the state-owned oil and gas giant that built them, they’re part of a bigger plan to use electricity to slash the carbon footprint of its product.
