Production ///

Canadian heavy oil falls as Alberta crude-by-rail deal nears

Canadian heavy oil prices have weakened ahead of an anticipated announcement that Alberta will ease production limits in exchange for shipping more crude by rail.

Weatherford hosts Production 4.0 forum at its Enterprise Software Conference

Energy leaders from Amazon and Microsoft will join Production 4.0-driven oilfield operators, including Apache Corporation and Targa Resources, and management consulting firm McKinsey & Company, to discuss the role of digitalization in the near and long-term future of oil and gas production.

New Permian oil pipelines fail to deliver immediate export boost

Newly commissioned Permian basin crude pipelines have yet to boost U.S. crude exports, as the ongoing U.S-China trade war weighs on demand from Asia.

Johan Sverdrup startup revitalizes Norway’s offshore sector

Discovered in 2010 in an area that had been disregarded by most explorers, the site started production on Saturday and is set to reach 440,000 bpd by next summer.

OPEC is prepared to make deeper cuts if needed, Nigeria says

“Everybody agrees in OPEC that we need to stabilize the market. We cannot allow prices just to plummet,” Nigerian Minister of State for Petroleum Resources Timipre Sylva said.

Shell awards gas export infrastructure contract offshore Aberdeen

The contract scope involves the engineering, procurement, construction, transportation and installation of a 30km gas export pipeline, a gas export riser and associated subsea infrastructure, for tie-ins at the Haewene Brim FPSO.

BP’s upstream chief Bernard Looney to take CEO role in early 2020

While the speed of the announcement is a surprise, Looney’s ascent to the top of the company follows a well-trodden path. Dudley’s two immediate predecessors also ran the upstream division before becoming CEO.

Acknowledging demand risks, OPEC+ ministers maintain production strategy

“Of course, demand is affected by the status of the global economy, and the economy is slowing down,” Russian Energy Minister Alexander Novak said in Moscow. “There are no crisis events that call for an emergency meeting.”

Norway greenlights Valhall facility startup

“Valhall West Flank is an important measure for further exploitation of the resources in a mature field,” says Tove Francke, the NPD’s assistant director for development and operations, North Sea South.

Ecuador quits OPEC, signals it’s ready for more E&P activity

For OPEC, the departure matters more in symbolism than barrels -- Ecuador stated clearly it wants to leave the group to boost oil revenues at a moment when the whole cartel is suffering from low prices.

After the Saudi attack, are Russia and Saudi Arabia still pumping too much oil?

This year, the oil market has faced some of the worst supply disruptions in recent times and yet prices remain stuck in the $60s.

Industry must remain productive while targeting zero emissions

There definitely is a lower-carbon model in the oil and gas industry’s future, agreed executive participants in the opening session of SPE’s 2019 Annual Technical Conference and Exhibition.

Major Brazil offshore auction attracts global producer interest

The auction of drilling rights off the coast of Brazil planned for November, potentially offering more oil than all the proven reserves in Mexico, has attracted interest from some of the world’s largest producers.

Oceaneering tapped to decommission seven gas platforms offshore Canada

The decommissioning project comprises seven offshore gas platforms located approximately 135 nautical miles east of Halifax, Nova Scotia, Canada on the edge of the Scotian Shelf.

Probe introduces XY caliper for geothermal well operations

Developed to operate in hostile environments up to 325°C (617°F), the UHT Dimension tool provides two continuous independent perpendicular measurements (X and Y) of the internal diameter of the casing.

Pragma ESP safety valve improves safety, reduces costs for cable-deployed ESPs

The new valve will enable on and offshore installations to meet all safety regulations while improving the operational footprint at the wellsite during installation and retrieval by reducing time, cost, personnel and risk.

ConocoPhillips sells UK E&P subsidiaries, pulls out of Louisiana unconventional play

ConocoPhillips has completed its previously announced transaction to sell two ConocoPhillips UK subsidiaries to Chrysaor E&P Limited for $2.675 billion, plus interest and customary adjustments.

BP is coming up empty in a hotspot for offshore oil exploration

“The pre-salt is good, but it’s not a sea of oil; there are still risks,” said Marcelo de Assis, the head of Latin American upstream research for Wood Mackenzie Ltd. “Deepwater gas is something that doesn’t work. All the developments are focusing on oil.”

SBM Offshore seeks to buy out minority partner in five Brazilian FPSOs

SBM Offshore is participating in a competitive sealed-bid process to purchase the equity ownership in the leases and operating companies related to five Brazilian FPSOs owned by Serviços de Petróleo Constellation S.A.

Pemex faces oil trading team exodus amid pricing review

The departures were sparked by a disagreement within the company over an external review of new formulas created to price oil sales to refiners in the U.S. and elsewhere.