Production ///

U.S. gas a no-go for Chinese buyers despite weaker tariff

Even with China’s smaller tariffs on U.S. natural gas, American cargoes may still be shunned by Chinese traders trying to navigate the ongoing trade war.

Battered oil-sands servicers pin hopes on Shell's LNG project

After years of suffering through plunging energy prices and declining spending by oil-sands companies, Canada’s oilfield-service industry is seeing a light on the horizon.

New fluid end design increases packing life, decreases cost per pumping hour

VP Sales & Manufacturing (VP), a leading manufacturer and seller of high-quality frac fluid ends and replacement parts, launches Hercules 2 (H2), a new fluid end design with proprietary technology.

CNOOC's Penglai project begins production in the Bohai Sea

CNOOC Limited has announced that the Penglai 19-3 oilfield 1/3/8/9 comprehensive adjustment project has commenced production.

Vitol-Cheniere pact shows long-term LNG deals aren't dead

Developers of LNG export terminals can breathe a sigh of relief: A supply boom hasn’t killed the long-term contracts that underpin the projects.

U.S. sanctions cripple Iranian oil exports

Aggressive and undiplomatic and extremely effective. With 50 days before new U.S. oil sanctions against Iran enter into force, President Trump has crushed the country’s petroleum exports.

Trade war escalation could slow U.S. LNG expansion

U.S. gas is under threat as a trade war with China escalates.

First oil achieved at Tortue, offshore Gabon

BW Offshore has announced that first oil from the BW Adolo FPSO was safely achieved on Sept. 16, 2018, 18 months after the initial investment was made in the Dussafu license, offshore Gabon.

Prospex, Raffles Energy report first gas in Romania

Prospex Oil and Gas Plc, the AIM quoted investment company, has announced that it has been advised by the operator, Raffles Energy S.R.L., that first gas production has commenced from Bainet gas field in the Exploration Area of the EIV-1 Suceava Concession, northeastern Romania.

OPEC sees need to keep oil supply deal as demand faces headwinds

OPEC needs to keep working with other oil producers to manage global supplies as demand for crude faces “headwinds,” the head of the organization said.

BP oil-buying spree jolts sleepy West African crude market

Two of the world’s biggest oil companies are stepping up buying and selling of West African crude at the same time as a new regional swaps market has emerged, as merchants seek new ways to eke out profits in a tough trading environment.

U.S. warns Russia it may sanction new gas pipeline to Germany

The U.S. warned Russia that it may follow through on sanction threats over the construction of a major natural gas pipeline to Germany.

IEA warns of higher oil prices as Iran, Venezuela losses deepen

The International Energy Agency warned that oil prices could break out above $80/bbl unless other producers act to offset deepening supply losses in Iran and Venezuela.

Iran endures longest gap in China's oil buying in three years

Iran just endured the longest gap without sending oil to its biggest customer in at least three years as imminent U.S. sanctions pile pressure onto Tehran.

The $20-billion race to eclipse Norway's elite oil producers

The race is on to become Norway’s biggest non-state oil company.

Rosneft, CNPC agree on wider E&P cooperation

Rosneft and the Chinese National Oil and Gas Corporation (CNPC) signed the Agreement on Cooperation in Exploration and Production in the Russian Federation in the framework of the IV Eastern Economic Forum.

EIA: U.S. overtakes Russia, Saudi Arabia as world's largest crude producer

The United States likely surpassed Russia and Saudi Arabia to become the world’s largest crude oil producer earlier this year, based on preliminary estimates in EIA’s Short-Term Energy Outlook (STEO).

Oil majors face "monumental" costs to reach climate goals

Europe’s largest oil companies must roughly double the amount of money they’re now dedicating to “new energies” by the end of the decade to meet key climate targets, according to a report from JPMorgan Chase & Co. that suggests the challenge facing the fossil fuel industry has been vastly underestimated.

Norway poised to battle with global giants in German gas market

After supplying Europe’s biggest economy with natural gas for more than four decades, Norway is preparing to defend its share as the world’s biggest producers all vie for a larger slice of the $21-billion market.

Trump takes assault on Obama climate rules on oil wells

The Trump administration has proposed relaxing Obama-era mandates meant to limit methane leaks from oil wells as part of a broader assault on federal regulations designed to combat climate change.