Production ///

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.

OPEC highlights threats to oil demand before meeting on output

OPEC highlighted a range of risks brewing in the global economy that could hurt oil demand as ministers prepared for a meeting on production policy, marking a shift from last month’s outlook.

Russia ready to pump oil at record rate if market requires

Russia has the capacity to set a new oil-production record but won’t decide whether the market requires additional supplies before a meeting with its OPEC allies.

Massive new mine signals an oil-sands revival

A colossal Canadian oil-sands project may be showing the way forward for an industry many thought would never see new investments.

Brent crude trades at $10 premium to U.S. oil amid Iran risk

Brent traded at more than a $10/bbl premium to U.S. futures as fears of lost Iranian output buoyed one grade and a supply glut undermined the other.

Norway's largest oil pipeline now in place

Last week Norway’s largest and longest pipeline, laid by the vessel Saipem Castorone, reached the Johan Sverdrup field in the North Sea.

Production capacity increased 25% for Egyptian Zohr project

Production capacity of Zohr project, developed by the consortium of Eni, Rosneft, BP and Mubadala together with the Egyptian oil and gas companies, has been increased by more than 25% to more than 2 Bcfd.

Lukoil expands production capacity at Yarega field

Lukoil has commissioned a steam generation farm at Yarega field of highly viscous oil in the Republic of Komi. The facility is to build up production as part of Yarega area Phase 2 development.

PetroChina inks its biggest Qatar LNG deal as U.S. trade at risk

PetroChina signed a deal with Qatargas Operating to purchase 3.4 MM tons of LNG annually, the Chinese company’s biggest supply deal.

Haynesville natural gas production is increasing, EIA says

In June 2018, natural gas production in the Haynesville shale formation, located in northeastern Texas and Louisiana, averaged 6.4 Bcfd, accounting for 8.5% of total U.S. dry natural gas production and the highest production from this region since September 2012.

Iraq pumping oil at record levels, unaffected by protests

Iraq is pumping crude at record levels and the violent street protests that engulfed the oil-rich south have not affected energy facilities in OPEC’s No. 2 producer.

Canadian crude prices collapse as Alberta glut grows

Canadian crude prices are plunging once again as repairs were completed on Alberta’s second-biggest oil sands upgrader and production surged from a new mine.

Saudis ramp up oil exports to the U.S.

Saudi Arabia has increased oil exports to America, a sign OPEC’s leading producer is responding to pressure from President Trump to cool down the energy market.

Sound Energy awarded production concession in Eastern Morocco

Sound Energy, the Morocco focussed upstream gas company, is pleased to announce the award of the production concession relating to the Tendrara gas discovery in Eastern Morocco by the Moroccan Ministry of Energy.

Fugro secures E&P support contracts in Trindad and the Gulf of Mexico

Fugro has won three contracts with BHP Petroleum (Deepwater) Inc., which see the company delivering a range of specialist services to support exploration and production operations in Trinidad and Tobago and the Gulf of Mexico.

Joint study shows data analytics can improve production efficiency, reduce maintenance costs

A joint study by the UK oil and gas industry’s Technology Leadership Board, the Oil & Gas Technology Centre and the Oil and Gas Authority (OGA) has found that adopting data analytics and digital technologies for asset maintenance and operations could increase production and lower maintenance costs worth £1.5 billion annually to the UK Continental Shelf (UKCS).

U.S. sanctions already affecting oil buyers

The early-November deadline set by the U.S. to sanction Iran’s oil exports is now a warning sign that’s too close for buyers to neglect.