Production ///

Alberta’s oil limits finally seem to be working

Alberta’s oil production curbs finally appear to be draining inventories, at least for now.

Saudis have few good options in talks with OPEC+ allies

Saudi Arabia is considering means to end the slump in oil prices, but the options available to them are scarce.

PJ Valves secures three FPSO supply contracts

PJ Valves, the specialist manufacturer and supplier of valves for the global energy industry, has been awarded three significant FPSO valve contracts for projects in Brazil, Mexico and Nigeria.

Oil trader sees demand growth slowing due to trade wars, disruption risks

Growth in global oil demand is slowing and won’t exceed 650,000 bpd this year before picking up pace up in 2020, according to Vitol Group’s chief executive officer.

Continental Resources loses $15 billion in market capitalization

Lack of investor returns causes Continental shed $15 billion in market cap since October.

U.S. Democratic candidates demonize oil industry

Bernie Sanders says the industry is a criminal enterprise. Joe Biden is vowing to take action against it.

A Coupling to Boost Well Efficiency

Carolyn Curran, Diane Nielsen, William Nielsen, Richard Cash, Materion Corporation, USA, explain how an advanced sucker rod coupling is optimizing every aspect of rod lift well efficiency and productivity.

Norwegian wealth fund’s bid to divest oil stocks loses momentum

After revealing it wanted to dump all oil stocks in 2017, Norway’s $1.1 trillion wealth fund’s actual divestment could now be very small.

As shale drillers stumble, Big Oil says it can do Permian better

Exxon Mobil and Chevron aren’t fazed by the drilling mistakes and funding hurdles smaller shale producers are running into in the Permian basin.

Saipem to establish a spoolbase in the US Gulf of Mexico

The new facility will support the Saipem Constellation, the latest addition to the Saipem fleet, suitable for the installation of rigid and flexible pipes in ultra deep waters as well as for heavy lifts of up to 3,000 tons.

Big oil’s big bet on natural gas creates a big headache

The world’s biggest oil companies have been steadily shifting investments toward natural gas, driven by an emerging globally traded market and environmental concerns. But they’re taking a hit as prices tank.

Oil drops as demand fears overshadow Iranian tanker seizure

Oil resumed its decline as a sharp drop in the Chinese yuan compounded fears that a deepening trade war will depress demand.

MODEC introduces two next-generation newbuild FPSO hulls

MODEC introduced two new built FPSO hulls, addressing lack of deck area and crude storage capacity common among typical designs based on converted oil tankers.

Pipelines make room to meet increased demand for Canadian crude

U.S. refiners want more Canadian oil, and pipeline companies are finding ways to get it to them.

Concho stock plummets 22% casting cloud over Permian

Stock closes at $75.97 for its largest one-day drop since 2008, wiping out $4.4 billion of market value.

DOE authorizes LNG exports of up to 1.53 Bcfd at Mississippi liquefaction project

The DOE's Office of Fossil Energy approved exports of domestically produced LNG from the Gulf LNG Liquefaction Project located in Jackson County, Mississippi.

McDermott secures offshore EPCI contract from Saudi Aramco

McDermott International has been awarded a contract by Saudi Aramco to provide engineering, procurement, construction and installation (EPCI) of a production deck module in Saudi Arabia's fields located offshore in the Arabian Gulf.

Shell invests in PowerNap subsea tie-back in Gulf of Mexico

Shell Offshore has elected to invest in its PowerNap deep-water project in the U.S. Gulf of Mexico, a subsea tie-back to the Shell-operated Olympus production hub.

OPEC production lowest since 2014 as U.S. squeeze on Iran continues

OPEC’s output, already at the lowest since 2014, slid again last month as U.S. sanctions took a further toll on exports from Iran.

Whiting shares drop, cuts staff and output target

Whiting shares dropped 23% on Thursday after it fired one-third of its workforce, scaled back its production target and posted quarterly loss.