Industry & Analysis
News
May 07, 2025
Although the deepwater sector may be traversing a few rough spots at present, the general outlook over the next few years remains solidly positive. That’s the theme of comments made by Scott Livingston, NOV’s President of Energy Products and Services, during a session on Day 2 of OTC.
News
May 06, 2025
In a session titled “Offshore Production and Recovery: The Value of a Holistic Approach,” SLB’s President of Production Systems, Paul Sims, gave his take on key factors affecting the current offshore energy landscape, as well as SLB’s latest strategies and innovations.
News
May 06, 2025
Kazakhstan is weighing options to comply with OPEC+ obligations to cut production, after Saudi Arabia doubled down on its efforts to bring quota-cheats in line. Kazakhstan previously agreed at a May OPEC meeting to reduce production to 1.5 million bpd in June.
News
May 05, 2025
Oil dropped after OPEC+ agreed to another large output increase, raising concern that additional supply could lead to a global glut just as the trade war threatens demand. The drop follows OPEC+'s latest agreement to continue loosening supply constraints.
News
May 02, 2025
OPEC+ agreed to increase output again in June, as the group continues a supply revival aimed at punishing over-producing members that has sent crude prices plunging. Key nations agreed to add 411,000 bpd next month, according to a statement.
News
May 02, 2025
Rising Phoenix Capital, an oil and gas investment firm, have announced a strategic purchase of mineral interests in Ector and Midland Counties, TX, operated by ConocoPhillips. The transaction strengthens the firm’s growing position in the core of the Midland Basin.
Article
April 2025
Upstream oil and gas activity in the part of the U.S. residing in U.S. Federal Reserve District 11 increased slightly during first-quarter 2025, even as crude prices averaged below $70/bbl. Natural gas prices were up noticeably, compared to fourth-quarter 2024 levels.
Article
April 2025
As we go into the last week of April, and this issue goes out the door, the upstream industry has nearly four months (one-third) of 2025 in the books already. So, what do we have to show for drilling activity in the first third of the year? Well, nothing spectacular.
News
May 02, 2025
National Ocean Industries Association (NOIA) President Erik Milito issued a statement on Friday in support of the House Natural Resources Committee reconciliation package. "Chairman Westerman’s bill is a game-changer for offshore energy," Milito said.
News
May 02, 2025
Exxon Mobil Corp. and Chevron Corp. are likely to shoulder more of the Permian basin’s oil growth as independent producers cut back in response to U.S. President Donald Trump’s trade war and supply increases from OPEC+, which have caused oil to drop nearly 18% since April 1.
News
May 01, 2025
The Trump administration sued Michigan and Hawaii seeking to block the states from suing oil companies for damage caused by climate change, less than two months after the U.S. Supreme Court rebuffed a Republican bid to derail such legal efforts.
News
May 01, 2025
The Railroad Commission of Texas assessed $1,372,720 in enforcement docket fines against operators and businesses at the Commissioners’ open meeting on Tuesday. The Commission has primary oversight and enforcement of the state’s oil and gas industry and intrastate pipeline safety.
News
April 30, 2025
DNV has published its annual Energy Industry Insights survey, with the report finding that political risk is seen as the leading barrier to energy sector growth for the year ahead, and the perceived momentum of the energy transition will slow.
News
April 30, 2025
Oil prices tumbled as signs emerged that OPEC+ may be entering a prolonged period of higher production. Beyond OPEC+, non-cartel nations are also expected to add supplies, including drillers in Canada and Guyana, feeding concerns about a global glut.
News
April 29, 2025
"A vibrant and supported energy industry, including offshore oil and gas, hydroelectricity and clean fuels, can move our country forward in uncertain times. Energy NL looks forward to working with Prime Minister Carney," said Energy NL's CEO Charlene Johnson.
News
April 29, 2025
CNOOC has led Beijing’s efforts to boost oil and gas output and bolster energy security, and its focus on extraction helped deliver near-record annual profits last year. But that dependence on upstream prices was a burden in Q1 2025.
News
April 29, 2025
bp Plc is off to a “great start” in its strategy reset and can follow through on the turnaround despite the recent drop in oil prices driven by U.S. President Donald Trump's trade war, said Chief Executive Officer Murray Auchincloss.
News
April 29, 2025
Woodside has made a final investment decision to develop the three-train, 16.5 million tonne per annum (MMtpa) Louisiana LNG development. Woodside is targeting first LNG in 2029.
News
April 29, 2025
Petro-Victory has completed its acquisition of Capixaba Energia LTDA, a producing oil and gas asset in the Espírito Santo Basin. The acquisition was completed in partnership with BlueOak Investments, Petro-Victory's strategic financial partner.
Article
April 2025
Buffeted by an array of external factors and rising operational challenges, the Permian basin stands at a crossroads in 2025. Can the world’s busiest and most prodigious onshore oil and gas region remain the major driver of U.S. energy security into the future, or will an increasingly unfavorable set of market conditions—combined with the global reordering of tariffs and trade relations being invoked by President Donald Trump—force an end to the long period of sustained growth seen in the region since the advent of the Shale Revolution?
News
April 28, 2025
Russia’s oil producers have been drilling wells at a pace not seen in at least five years as the nation readies for both a loosening of OPEC+ output limits and the possibility of relief from some international sanctions over its invasion of Ukraine.
