Production
News
December 13, 2023
Africa still needs time – time that the Western world has already had and, frankly continues to milk – to resolve energy poverty and industrialize.
News
December 13, 2023
Non-OPEC supplies will increase by 700,000 bpd each year to 2030 — rather than the declines the consultant previously forecast — thanks to growth in the U.S., Guyana and Brazil.
News
December 12, 2023
OPEC+ will need to maintain its latest oil production cuts throughout next year in order to keep the global market in balance, according to Citigroup Inc.
News
December 10, 2023
Traders are more jittery than ever about the outcome of Chevron Corp.’s proposed $53-billion takeover of Hess Corp. as Venezuela threatens to seize mineral-rich regions in neighboring Guyana.
News
December 08, 2023
WesternZagros, a privately held American company with offices in Calgary, Canada, and Erbil and Sulaymaniyah in the Kurdistan region of Iraq, has officially become a member of APIKUR.
News
December 08, 2023
The American Petroleum Institute (API) has called on the Biden administration to recognize the important role that Alaska plays in U.S. energy security and support the continued development of energy resources in the National Petroleum Reserve.
News
December 07, 2023
Chevron Corp. followed competitor Exxon Mobil Corp. in raising planned capital spending as the biggest U.S. oil operators seek to increase long-term crude production.
News
December 06, 2023
Compared to alternatives using electric on-off valves, the new Fisher controller makes it possible to save significant energy and maintenance costs by minimizing valve movement, and by simplifying the level measurement and control processes.
News
December 06, 2023
At the center of discussions in Riyadh will be Russia’s role in OPEC+, the Saudi-led alliance between the Organization of Petroleum Exporting Countries and other major oil producers, which last week agreed to extend and deepen production cuts to bolster prices.
News
December 05, 2023
OPEC+ could take further measures if last week’s production cuts agreement isn’t enough to balance the oil market, said Deputy Prime Minister Alexander Novak.
News
December 04, 2023
ExxonMobil Corp. CEO Darren Woods said the Texas energy giant is focusing on producing oil in Guyana as efficiently as possible to help the South American country in its border dispute with Venezuela.
News
December 01, 2023
Angola, Africa’s second-largest crude producer, will produce 1.18 MMbpd from January, above the 1.11 MMbpd quota set out in the OPEC agreement on Thursday.
News
December 01, 2023
Traders were wary of how far countries will follow through on the production curbs, which are on a “voluntary” basis. At the end of fractious talks, Angola said it would reject its diminished output quota and keep pumping at current levels.
News
November 30, 2023
Brazilian Energy Minister Alexandre Silveira told a meeting of the group on Thursday that the country would join its charter from next year. The charter, open to all oil producing countries, doesn’t bind signatories and provides a platform for dialog and exchange of views.
News
November 30, 2023
Members of the group agreed to make 1 MMbpd of additional oil production cuts at a meeting on Thursday, delegates said. That reduction comes alongside the much-anticipated extension into next year of Saudi Arabia’s voluntary output curb of the same size.
News
November 29, 2023
GH2 is working to advance the energy transition through its tailored subsurface microbiology solutions that use the power of microorganisms to enable in-situ hydrogen production from depleted or uneconomical oil reservoirs.
News
November 28, 2023
The stalemate may not be resolved before the scheduled OPEC meeting on Nov. 30, potentially requiring a further delay, one delegate said.
News
November 27, 2023
The OPEC leader has been making a largely unilateral production cutback of 1 MMbpd since July, and is now seeking further support from across OPEC and its partners, said the delegates, asking not to be identified because the information is private.
News
November 27, 2023
With futures well down from September highs, widely watched timespreads for global benchmark Brent and U.S. counterpart West Texas Intermediate have softened, signaling ample supply, while U.S. stockpiles have jumped.
News
November 24, 2023
But despite a postponement of the gathering amid a dispute over oil production quotas for African members, around half of respondents now see OPEC+ unveiling measures to tighten oil markets when it gathers on Nov. 30.
News
November 23, 2023
The spat involving African members dredges up a disagreement from June, when Angola, Congo and Nigeria were pushed by Saudi Energy Minister Prince Abdulaziz bin Salman to accept reduced output targets for 2024 that reflected their diminished capabilities.
