Activity Review ///

Oil producers need to pump more or put demand growth at risk

Rising oil prices may hurt demand in some of the world’s fastest-growing nations unless producers take steps to boost supplies, according to the International Energy Agency.

G3 Exploration gets approval for development of Chengzhuang Block in China

G3 Exploration Ltd., an independent specialist in the exploration and development of coal bed methane gas (CBM) with roots in China and a focus on international expansion, has announced that the China National Development and Reform Commission (NDRC) has issued its final approval for the Overall Development Plan (ODP) on the Chengzhuang Block (GCZ).

China boosts West African oil imports to offset trade war impact

China is set to boost its crude imports from West Africa to the highest in at least seven years this month as the trade war with the U.S. prompts the Asian nation’s refiners to find alternatives.

Iraqi crude exports extend gains in September as buyers shun Iran

Iraq exported more than 4 MMbpd for a second consecutive month in September as buyers sought alternative supplies to Iran ahead of U.S. sanctions.

First oil

Kurt Abraham, World Oil

Moderate, stable growth is in the offing

Tale of two oil markets: Brent bulls split from U.S. optimists

For oil investors, this is both the best of times and the worst of times, depending on which crude benchmark you trade.

BHGE's European president reflects on ONS 2018, industry transformation

Over the past few years, the expression ‘cautious optimism’ has often been used when referring to the North Sea’s oil and gas industry landscape. The industry has experienced dramatic change since the latest downturn began.

South Sudan resumes output in key oil area after five-year halt

South Sudan restarted crude production in a key oil region almost five years after facilities were shuttered by civil war.

Saudi Aramco's crude output in 2017 fell from annual record

Saudi Arabian Oil Co., the world’s largest crude exporter, said its production last year fell from the annual record it reached in 2016 as it led OPEC and other major producers in curbing output to counter a global oversupply.

Eastern Canadian LNG project wins buyers in shadow of Western rival

Royal Dutch Shell Plc’s giant liquefied natural gas project in western Canada may be grabbing the headlines, but a smaller rival in the east is busy lining up another customer from Europe.

Keystone XL pipeline sent back for new environmental review

The U.S. State Department must conduct a new environmental review for the Keystone XL crude pipeline, a federal judge ruled, dealing a blow to a project supported by President Donald Trump in his first few days in office.

After $80-billion blowouts, mega oil and gas projects are back

Investors are about to find out whether the world’s largest oil companies have learned their lesson from $80 billion of cost blowouts in major projects during the era of $100-crude.

OPEC lifted crude production in July

OPEC crude production rose in July, despite sliding output in Libya, Iran and Saudi Arabia.

U.S. drilling reaches high in U.S. as global disruptions mount

U.S. oil producers expanded drilling this week, moving to fill in a gap left by supply disruptions around the globe.

Exxon seeks long-term deals for U.S. oil exports

ExxonMobil Corp. is courting refiners with rare long-term U.S. crude export deals, according to people familiar with the matter, as the company expands its trading scope.

Crude slumps as trade war overshadows drop in U.S. inventories

Crude dropped to a six-week low as the escalating trade dispute between the world’s biggest economies overshadowed a decline in U.S. crude stockpiles.

U.S. cuts oil output outlook as Permian constraints threaten

The pace of U.S. crude production growth might be slowing or at least that’s what the government is seeing for now.

Shell sees gas as answer in Nigeria after decades of oil strife

After decades of difficulties in Nigeria over crude theft, pollution and oil-related corruption, Royal Dutch Shell Plc still feels optimistic a fossil fuel can improve life in the country.

Texas oil and gas E&P economy continues to rebound, says Texas Alliance economist

Mirroring the movement of oil prices over the last several years, the Texas Petro Index has recovered from its low point of May 2016 and continues to move upward, said Texas Alliance of Energy Producers economist Karr Ingham.

Payback time, as LLS pricing lifts netbacks

Jim Redden, Contributing Editor

The Eagle Ford is enjoying a comeuppance, of sorts. Once left to pick up Permian basin leftovers, the unconventional elder has emerged as a veritable hedge against the bottleneck-induced price differentials of its high-flying neighbor to the immediate west.