Production ///

While OPEC ramps up production, U.S. oil output is projected to fall

With the U.S. unlikely to ever reach previous crude production levels, OPEC+ is moving to roll back part of their oil supply cuts in the coming months.

Oil prices slide on OPEC output call and surging India virus cases

Crude has rallied this year as vaccine rollouts help major economies reopen. The decision by the Organization of Petroleum Exporting Countries and its allies was seen as a vote of confidence in the outlook for energy demand. The U.S. also added more than 900,000 jobs in March, the most in seven months.

Russian oil production rose in March under higher OPEC quota

Russia pumped 43.34 million tons of crude and condensate last month, according to preliminary data from the Energy Ministry’s CDU-TEK unit. That equates to 10.249 million barrels a day, based on 7.33 barrel-per-ton conversion ratio, or 1.3% more than in February.

U.S. Interior chief reviewing “fundamentally broken” oil rights system

One day after the U.S. energy secretary phoned Saudi Arabia on the "importance of affordable and reliable energy for consumers," Interior Secretary Deb Haaland called the domestic fossil fuel industry "fundamentally broken," suggesting that Biden's oil and gas leasing moratorium will be anything but temporary.

OPEC cuts global oil demand estimates ahead of production decision

The revision, which mainly affects the next few months, follows a recommendation from OPEC Secretary-General Mohammad Barkindo that the coalition should remain very cautious.

Oil prices slip below $61 on rising dollar and upcoming OPEC meeting

Oil is poised to close out a fourth quarterly advance on Wednesday, but the past week has seen volatility climb amid the Suez Canal blockage. While fuel consumption is rising in many parts of the world, risks remain, with the head of the U.S. Centers for Disease Control and Prevention warning of “impending doom” as cases and deaths in the country pick up.

OPEC members foresee little change in oil output targets on April 1

The coalition led by Saudi Arabia was widely criticized three weeks ago when it rebuffed calls to revive some of the crude production halted during the pandemic. As OPEC prepares for another decision on oil output, the producers believe their defiantly cautious approach is paying off.

New Mexico slashes routine gas flaring allowances

The three-member New Mexico Oil Conservation Commission voted unanimously for rules that are set to go into effect as early as May. Oil companies, gas processing plants and pipeline operators will have until 2026 to get their gas emissions down to 2% of production.

PetroChina’s $37B capex budget makes it the world’s most active oil company

China’s quick recovery from Covid-19 means that its demand for oil and gas has fully recovered from the pandemic-induced swoon of early 2020, and President Xi Jinping continues to make energy security a top priority.

Permian methane emissions return to pre-pandemic levels

Emissions from the Permian basin dropped 60% from March to April last year as oil producers shut in wells and cut back on new ones due to tumbling crude prices. But methane emissions are now back at pre-pandemic levels as drilling ramps up, according to the non-profit Environmental Defense Fund.

Preventing gas hydrate plugging in deepwater wells

Jonathan Wylde, Scot Bodnar, Claudia Mazzeo, Zachary Ward, Clariant Oil Services

Low-dosage hydrate inhibitors are an alternative technology to thermodynamic inhibitors for preventing gas hydrates from restricting production from deepwater wells. Injecting the correct amount of a high-performance chemical has proven effective at mitigating unplanned shut-ins and the resulting loss of production revenue.

Efficiency of coiled tubing well interventions increased by hybrid electro-optical technology

Pierre Ramondenc, Juan Pablo Taboada, Jordi Segura, Schlumberger

A noise-immune hybrid electro-optical technology enables reliable real-time downhole data transmission and continuous electrical power delivery for coiled tubing operations. The result is improved efficiency in conventional CT applications and in an expanding array of interventions.

Digital transformation for oil & gas investors

Douglas C. Nester, PetroAi LLC

Informed investment decisions require access to the complete knowledge potential existing within digital data available in today’s oil and gas fields. Emerging applications provide investors with access to machine learning, AI analytics, and smart monitoring technologies necessary to mine these data.

Baker Hughes pioneers flexible pipe solution to overcome stress corrosion cracking

Baker Hughes has reached a significant technology milestone in pioneering a solution to overcome flexible pipe stress corrosion cracking (SCC) tendencies in high CO2 content fields, such as those found in Brazil’s pre-salt offshore developments.

Siemens Energy to supply eight topside modules and support for FPSO vessel offshore South America

Siemens Energy was awarded a topside EPC contract by MISC Berhad for eight complete topside modules that will provide sustainable, efficient, and environmentally friendly power generation, transmission, and distribution, as well as gas processing and compression aboard an FPSO that will operate offshore South America starting in 2024.

BP fields final offers for North Sea oil and gas assets

Oil and gas producers Tailwind Energy Ltd., Serica Energy Plc, Ithaca Energy Ltd., EnQuest Plc and newcomer Waldorf Production UK Ltd. have been considering binding offers for some or all of the assets, according to people familiar with the matter.

Oil shortages could follow key pipeline shutdown in Michigan, Enbridge warns

Refineries in Michigan, Ohio, Indiana, Pennsylvania as well as those in Ontario and Quebec would have to find alternative means for securing crude oil should Line 5 be shut, requiring the building of new rail terminals and rail cars, Vern Yu, Enbridge's president of liquid pipelines, told Canadian lawmakers Tuesday.

US LNG exports: Uneven pathway from oilfields to terminals

Richard Nemec, Pipeline & Gas Journal

Analysts believe a second wave of global LNG demand is coming in the mid-part of this decade, despite 2020's severe downturn in global energy markets.

Oil prices hover near $64 as crude inventories climb

Oil production across American shale patches next year is expected to climb as producers take advantage of a price recovery, according to a government report.

Brent crude premium climbs as North Sea field maintenance cuts flow

Heavy maintenance work on North Sea oil fields in the coming months is helping to erode the flow of crude to Asia from some suppliers in the Atlantic basin as a key price spread between the two regions balloons.