Check out the latest oil industry related news

18-07-2024: US court rulings put oil leases on hold in Alaska, Wyoming, pending environmental reviews Two federal courts, in separate cases, ruled July 16 that US Interior Department agencies in Alaska and Wyoming could not issue oil and gas drilling permits until they conduct supplemental environmental assessments.
18-07-2024: Sempra signs EPC contract with Bechtel for Port Arthur LNG Phase 2 Sempra Infrastructure signed an engineering, procurement, and construction contract with Bechtel for the Port Arthur LNG Phase 2 project.
18-07-2024: Chevron farms out 20% interest in block offshore Suriname Chevron Corp. has agreed to farm out to QatarEnergy a 20% interest in a production sharing contract for block 5 offshore Suriname.
18-07-2024: Vertex names Haugh interim COO as Rhame plans retirement Current chief operating officer James Rhame will serve as a consultant to Vertex Energy until yearend after his retirement July 25.
17-07-2024: BW Energy to acquire interest in PEL 73 onshore Namibia BW Energy will receive a 20% non-operating interest in onshore Petroleum Exploration License 73 in northeast Namibia.
17-07-2024: EIA: US crude inventories down 4.9 million bbl US crude oil inventories for the week ended July 12, excluding the Strategic Petroleum Reserve, decreased by 4.9 million bbl from the previous week, according to data from the US EIA.
17-07-2024: Chappal Energies to acquire SPDC JV interest in Nigeria from TotalEnergies Chappal Energies Mauritius Ltd. has agreed to acquire from TotalEnergies EP Nigeria its 10% interest in SPDC joint venture licenses in Nigeria for $860 million.
17-07-2024: US federal court sends Commonwealth LNG approval back to FERC for rereview, threatening plant timeline Startup of Commonwealth LNG's proposed 9.5 million tpy plant in Cameron Parish, La., could slip after a US Court of Appeals told FERC to reevaluate approval of the project to include climate impacts.
17-07-2024: LLOG Exploration acquires additional deepwater Gulf of Mexico blocks LLOG Exploration has extended its position in the deepwater Western Gulf of Mexico with the acquisition of 41 blocks.
16-07-2024: Aramco lets offshore trunkline contract Aramco let contracts for two offshore projects in Saudi Arabia to Saipem under an existing long-term agreement.
16-07-2024: Shell appoints new country chair for Argentina, Chile, Uruguay Shell has appointed Germán Burmeister as senior vice-president and country chair for Argentina, Chile, and Uruguay, effective Aug. 1.
11-07-2024: IEA: World oil demand growth continues to decelerate World oil demand growth continues to decelerate, with 2Q 2024 growth dropping to 710,000 b/d year-on-year, marking the slowest quarterly increase since fourth-quarter 2022, according to the IEA’s July Oil Market Monthly Report.
10-07-2024: Rystad: Southeast Asia's offshore gas boom to hit $100 billion by 2028 Offshore natural gas production in Southeast Asia is poised to unlock $100 billion of potential, thanks to a wave of planned FIDs expected to materialize by 2028, according to Rystad Energy’s latest analysis.
09-07-2024: Hurricane Beryl has minimal impact on US Gulf oil, gas operations Hurricane Beryl had minimal effects on the US Gulf Coast oil and gas industry. Marathon Galveston Bay Refinery advised the City of Texas City, Texas, that it had to flare due to a brief power disruption during the storm, but no other issues have been reported.
09-07-2024: WoodMac: Four questions answered on the future of oil demand Wood Mackenzie projects a 1.5 million b/d increase in global oil demand in 2024, with a sizable portion of this growth expected in the latter part of the year. Amidst ongoing efforts towards achieving net-zero emissions, the persistent high demand for oil prompts questions about its future trajectory.
09-07-2024: OPEC+ production closer to target than any time in 2024 OPEC+ June production was closer to targeted production levels than in any of the preceding months in 2024, only exceeding them by 53,000 b/d.
05-07-2024: Chevron, Shell monitoring Hurricane Beryl Chevron Corp. and Shell plc have evacuated personnel and shut in production as Hurricane Beryl continues its path toward the US Gulf of Mexico.
05-07-2024: Shell flags up to $2 billion in impairments for Singapore, Rotterdam plants Shell plc expects to record $1.5-2.0 billion in impairments for second-quarter 2024 associated with its Singapore and Rotterdam plants.
04-07-2024: ESP challenges in an EOR project after breakthrough: An analysis of continuous improvement for ESP designs towards the reduction of OPEX A special project explains the symptoms of each cause of ESP failure to determine ways to improve OPEX by tracking ESP failures, ranging from 90 days up to 900 days. It performs a detailed dismantle-and-failure analysis (DIFA), combining reservoir data, tear-down information, and sampling composition analysis, triggered evidence and patterns previously not identified.
04-07-2024: Oil and gas in the Capitals Update on the ASEAN offshore E&P threat picture: Temperature rising
04-07-2024: What's new in production There is more about oolitic aragonite than one might imagine
04-07-2024: Redefining oil & gas investments beyond conventional financial systems While the natural gas market faces challenges like oversupply and political barriers to exporting, the upstream sector presents unique investment opportunities by taking a fresh perspective that considers evolving global +demand, regional dynamics, ESG factors, and unlocking value through strategic adaptation and informed decision-making.
04-07-2024: Faster and better subsurface imaging for reservoir optimization This article discusses the significance of nodal technology for geophysical data acquisition in the oil and gas industry, and STRYDE’s participation in the world’s largest nodal survey in the Middle East.
04-07-2024: Well decommissioning: Simple solutions to complex problems Traditionally, barrier testing and subsequent validation by a technical authority can sometimes rely on personal observations and subjectivity. HydraWell looks to strike a successful balance of its values while pushing boundaries and inventing pioneering technologies that will transform well integrity management operations around the world.
04-07-2024: Explaining sand erosion in oil and gas production Part 2: Erosion, due to entrained sand, is a growing problem, and existing technologies have limitations, but new solutions are available to address this issue.
04-07-2024: Rethinking sand management for optimized production Over the past decade, FourPhase has gathered solids management data from more than 150,000 hrs of operation. Vast amounts of data yield completely new perspectives. Rather than viewing sand production as a challenge, we recognize its positive aspects in reservoir management. Producing sand can be positive for your well, if done in a controlled manner.
04-07-2024: Leveraging artificial lift to optimize production Artificial lift technologies, including rod lift systems, remain vital to allowing companies to maximize the ROI of older assets. Deeper, more complex, mature wells incur greater wear and tear, and upgrading rod rotators allows companies to extend rod lift systems’ operational life, minimize NPT and overall costs, and optimize production.
04-07-2024: New technology allays permanent magnet motor safety concerns, enables better ESP performance Operators that rule out powerful permanent magnet motors for artificial lift operations are constraining environmental and efficiency gains.
04-07-2024: Coated continuous sucker rod lowers RRP and PCP operating costs Thick, durable barrier coatings protect continuous rod from mechanical and corrosion damage, reducing rod fatigue failures, associated downtime, and operating costs.
03-07-2024: EIA: US crude inventories down 12.2 million bbl US crude oil inventories for the week ended June 28 decreased by 12.2 million bbl from the previous week, according to EIA data.
03-07-2024: Touchstone awarded additional exploration licenses onshore Trinidad and Tobago The Calgary-based operator is adding to its onshore licenses in Trinidad and Tobago.
02-07-2024: Gibson Energy appoints Philippon as president, CEO Gibson Energy Inc., Calgary, has appointed Curtis Philippon as the company’s new president and chief executive officer.
02-07-2024: Whitecap divests partial interests in Canadian gas processing infrastructure In separate deals, Topaz Energy and Pembina Pipeline agreed to acquire working interests in certain gas processing infrastructure in Canada from Whitecap Resources.
02-07-2024: ExxonMobil’s Esso signs contracts for licenses offshore Morocco Esso Exploration International signed two reconnaissance contracts with Morocco’s ONHYM.
02-07-2024: Federal court judge bans Biden administration LNG export pause, immediate impact unclear A US federal court judge in Louisiana on July 1 blocked the Biden administration’s pause on LNG export permits. The real-world impacts of the ruling remain uncertain.
01-07-2024: TotalEnergies, partners to review South Africa block options as partner withdraws TotalEnergies is currently reviewing options regarding its interest in Block 11B/12B offshore South Africa following CNR International's notice to withdraw.
01-07-2024: Woodside enters frame agreement with Baker Hughes to support Australian LNG operations Woodside Energy has entered into a 10-year services frame agreement with Baker Hughes in support of its LNG operations in Australia.
01-07-2024: Aramco lets contracts worth $25 billion to progress gas growth projects Saudi Aramco has awarded contracts worth more than $25 billion to support projects aimed at growing sales gas production.
01-07-2024: Origin Energy lets contract for Angry Jungle gas field Origin Energy let a FEED contract for a new natural gas compression station in Angry Jungle gas field, Queensland, Australia.
28-06-2024: Valeura suspends Wassana field production following MOPU inspection Valeura Energy suspended production at Wassana field offshore Gulf of Thailand after a crack was found within a leg of the mobile offshore production unit.
28-06-2024: SCOTUS limits power of federal government to regulate environmental, energy issues The US Supreme Court curtailed the power of federal regulatory agencies, including those responsible for environmental and energy policy, in a series of decisions issued as its term ends.
28-06-2024: Panama Canal traffic to increase as drought conditions ease Based on the present and projected level of Gatun Lake, the Panama Canal Authority launched an additional booking slot for Booking Period 2.
28-06-2024: SM surprises with $2 billion Uinta basin buy of XCL Northern Oil and Gas is participating in the planned purchase, which management said will add about 2 two years to SM’s inventory.
27-06-2024: FERC approves Venture Global’s CP2 LNG plant, Transco’s Texas to Louisiana line The Federal Energy Regulatory Commission issued a series of approvals on US LNG projects.
27-06-2024: Equinor lets all-electric production system contract for Fram Sør Equinor has let a FEED contract for a 12-well, all-electric subsea production systems project for Fram Sør field, offshore Norway.
27-06-2024: Hilcorp signs deal to acquire Alaska assets from Eni Hilcorp signed a deal to expand its portfolio of upstream assets in Alaska.
27-06-2024: Prax Group to acquire TotalEnergies’ West of Shetland upstream assets The Prax Group agreed to acquire TotalEnergies E&P UK Ltd.’s West of Shetland assets in the UK.
26-06-2024: TXO Partners to acquire assets in Greater Williston basin TXO Partners entered separate agreements to purchase assets in Elm Coulee field in Montana and Russian Creek field in North Dakota.
26-06-2024: EIA: US crude inventories up 3.6 million bbl US crude oil inventories for the week ended June 21 increased by 3.6 million bbl from the previous week, according to data from the US EIA.
26-06-2024: Some E&P firms reining in ’25 capex plans, Dallas Fed survey says Uncertainty, much of it from regulatory pressures, was a strong theme among those responding to the latest installment of the central bank’s questionnaire.
26-06-2024: TotalEnergies to operate block offshore Africa with new interest share TotalEnergies agreed to acquire interest in and operatorship of Block STP02, offshore Sao Tome and Principe.
26-06-2024: Fire hits Dangote’s Lekki refinery Dangote Petroleum Refinery and Petrochemicals Co. extinguished a fire at one of the plants of its 650,000-b/d integrated refining and petrochemical complex in southwestern Nigeria.
26-06-2024: HEYCO lets contract for work in Spain’s Viura field HEYCO Energy Group has let a contract to Odfjell Technology for onshore work in Europe.
25-06-2024: Targa Resources makes organizational changes Targa Resources has named Jennifer Kneale to serve as president, finance and administration. William Byers will join as CFO, reporting to Kneale.
24-06-2024: BLM fetches $34.4 million in high bids from New Mexico, Kansas lease sale The Bureau of Land Management (BLM) received $34.4 million in high bids during its most recent lease sale in New Mexico and Kansas.
24-06-2024: Murphy Oil seeks Côte d’Ivoire drilling start in a year ‘We can do a deal with anyone in the world today,’ chief executive Roger Jenkins recently told a bank conference about the company’s promising offshore blocks.
21-06-2024: Drilling advances Gauging how far drilling and productivity have come
21-06-2024: What's new in exploration Exploration excellence (persistence) = Namibia
21-06-2024: First oil Valves for every purpose
21-06-2024: Carlyle to acquire assets from Energean, aims to scale gas-weighted Mediterranean company Investment firm Carlyle agreed to acquire a portfolio of gas-weighted exploration and production assets in Italy, Egypt, and Croatia from Energean plc.
21-06-2024: Chevron, GEPetrol sign production contracts for blocks offshore Equatorial Guinea Chevron and GEPetrol have signed production sharing contracts for offshore Blocks EG-06 and EG-11.
21-06-2024: EU imposes first-ever sanctions on Russian LNG European Union countries agreed on package of sanctions against Russia, banning the re-export of Russian LNG within EU waters.
21-06-2024: Biden administration targets methane releases from oil, gas sector with $850 billion in grants The Biden administration will make available $850 million in funding for projects to slash methane emissions from oil and gas production.
21-06-2024: Petrobras anticipates early arrival of Maria Quitéria FPSO at Jubarte field Petrobras anticipates the FPSO's arrival in this year’s third quarter with production scheduled to begin in fourth-quarter 2024.
21-06-2024: Biden administration targets methane releases from oil, gas sector with $850 million in grants The Biden administration will make available $850 million in funding for projects to slash methane emissions from oil and gas production.
20-06-2024: The ESG perspective The never-ending ESG roller coaster
20-06-2024: Woodside signs frame agreement for producing Sangomar field offshore Senegal Woodside awarded frame agreements to DeepOcean to provide subsea inspection, maintenance, and repair services for Sangomar field offshore Senegal.
18-06-2024: Piñon Midstream secures EPA approval for CCS operations at Dark Horse Piñon Midstream received approval from the US EPA for its MRV plan for CO2 sequestration in its two acid gas injection wells at Dark Horse in the Delaware basin.
18-06-2024: Vår Energi extends gas supply contract with VNG Vår Energi will extended its agreement to deliver natural gas to VNG Handel & Vertrieb GmbH.
18-06-2024: KPO signs services agreement for development in Kazakhstan Karachaganak Petroleum Operating let a contract to Technip Energies for development of Karachaganak field in northwest Kazakhstan.
17-06-2024: Fitch Ratings: Credit metrics improve for oil field service companies Robust market fundamentals have resulted in improved credit metrics for oilfield service issuers, including by reduced leverage, expanded EBITDA margins, and enhanced free cash flow generation.
17-06-2024: PTTEP to acquire Wintershall’s interest in Abu Dhabi Ghasha concession PTTEP agreed to acquire a 10% participating interest in the Ghasha concession offshore Abu Dhabi.
17-06-2024: Dana Petroleum lets contract for Bittern field development Dana Petroleum let a contract to Subsea7 SA for Bittern field development in the UK North Sea.
14-06-2024: Sonatrach, Chevron sign MoU to discuss hydrocarbon development in Algeria Sonatrach and Chevron signed a memorandum of understanding to discuss possibilities for hydrocarbon resources development in Algeria.
14-06-2024: Peru plans to relaunch exploration in Candamo to increase gas reserves Peru's Ministry of Energy and Mines plans to relaunch hydrocarbon exploration in the Candamo Valley (Madre de Dios).
14-06-2024: Tallgrass Energy to gain full ownership of REX in deal with Phillips 66 Tallgrass Energy agreed to acquire Phillips 66's interest in Rockies Express Pipeline LLC.
14-06-2024: Hibiscus to acquire TotalEnergies’ Brunei subsidiary Hibiscus Petroleum Berhad, Kuala Lumpur, aims to increase the gas production share of its portfolio to almost 50% from 36% with the acquisition of TotalEnergies EP (Brunei) BV.
13-06-2024: QatarEnergy signs 10-year naphtha supply agreement with Haldia Petrochemicals QatarEnergy agreed to supply India’s Haldia Petrochemicals with up to 2 million tonnes of naphtha to be delivered over 10 years.
13-06-2024: Equinor lets contract for Troll Phase 3 development Equinor let a Troll extension pipeline contract to Allseas for Stage 2 development of the Troll Phase 3 project in the North Sea.
13-06-2024: US Senate approves three FERC commissioners The US Senate approved all three of President Biden’s picks to serve as FERC commissioners.
13-06-2024: First-quarter 2024 earnings down year-on-year on lower refining margins, natural gas prices A group of 44 US-based oil and gas producers and refiners recorded a total net earnings of $27 billion in first-quarter 2024, down from earnings of $48.5 billion in the previous year's first quarter.
03-06-2024: Baldridge joins executive leadership team at Phillips 66 Don Baldridge has been named executive vice-president of midstream and chemicals.
03-06-2024: Petrobras lets pipelay support vessels contracts Petrobras has let four day-rate contracts to Subsea 7 SA for pipelay support vessels (PLSVs) commencing in 2025.
03-06-2024: OPEC+ extends oil output cuts into 2025 OPEC+ has decided to prolong the 3.66 million b/d production cut (announced in 2022 and 2023) for 1 year and extend the voluntary 2.2 million b/d production cut by eight members for another quarter.
03-06-2024: WildFire Energy acquires additional Eagle Ford acreage WildFire Energy is adding to its Eagle Ford acreage with a bolt-on deal with an undisclosed seller.
01-06-2024: How Rising Demand for RNG is Unlocking Vast New Opportunity The role of RNG operators, investors, and traditional energy companies is shifting along with the growing appetite for more sustainable fuels.By Chet Benham, President and COO of Viridi Energy
31-05-2024: ADNOC farms out concession interest to SOCAR ADNOC awarded a 3% participating interest in the Satah Al Razboot (SARB) and Umm Lulu concession offshore Abu Dhabi.
31-05-2024: Wood Mackenzie: ConocoPhillips deal with Marathon creates third largest producer in US Lower 48 With its plan to acquire Marathon Oil, ConocoPhillips could become the third largest producer in the US Lower 48 behind ExxonMobil Corp. and Chevron/Hess.
31-05-2024: Petronas, Sinopec sign MoU to explore partnership expansion Petronas and Sinopec will explore ways to expand their partnership across the energy value chain.
30-05-2024: EIA: US crude inventories down 4.2 million bbl US crude oil inventories for the week ended May 24, excluding the Strategic Petroleum Reserve, decreased by 4.2 million bbl from the previous week, according to data from the US EIA.
30-05-2024: Can an offshore drilling rig run on green methanol? A feasibility study for the decarbonization of offshore drilling operations has been conducted. The key will be to utilize well-proven engines capable of operating on methanol and diesel with comparable performance characteristics.
30-05-2024: Embracing automation: Oil and gas operators leverage new operational efficiencies Wellsite automation can help make oil and gas production smarter, faster, more efficient and safer. The ability to utilize real-time data to make automatic and instantaneous adjustments can produce reductions in the days spent on frac operations and increased wellsite safety.
30-05-2024: Dawn of a new day in completions A unique collaborative approach to completions management demonstrates how working from a different perspective can optimize operational efficiency and improve well economics.
30-05-2024: Extracting resources from the Earth’s crust using multi-stage, fraced horizontal wells: First gas, then oil, now heat Far too many companies are seemingly holding back on utilizing horizontal wells to access Enhanced Geothermal Systems and risk missing a golden opportunity to extract heat from the Earth’s crust.
30-05-2024: Stimulating for maximum recovery As it approaches its 20th anniversary, Stavanger-based Fishbones finds that its stimulation methods are increasingly a regular part of operators’ toolboxes, for improving oil and gas recovery with multi-fold increases in productivity. Various case studies confirm operators’ confidence in these methods.
30-05-2024: Explaining sand erosion in oil & gas production Erosion due to entrained sand is a growing problem, and existing technologies have limitations, but new solutions are available to address this issue.
30-05-2024: The five A’s on the road to completions automation As fracturing intensity continues, operators are looking for additional ways to increase efficiencies. One such solution is automation in the fracturing process. Accordingly, a platform of digital software controls and hardware enables operators to pursue automation, while executing completions safely and more efficiently.
30-05-2024: Petrobras lets contract for Búzios 9 field development Petrobras has let a contract to Subsea 7 SA to advance development of Búzios 9 field offshore Brazil.
29-05-2024: Texas LNG requests FERC extension to complete construction Texas LNG is requesting more time from regulators to complete construction of its South Texas liquefaction project.
29-05-2024: ConocoPhillips to acquire Marathon Oil in $22.5-billion deal ConocoPhillips has agreed to acquire Marathon Oil Corp. in an all-stock transaction with an enterprise value of $22.5 billion, inclusive of $5.4 billion of net debt.
29-05-2024: Aethon deals move Tellurian’s Driftwood LNG project toward development Deals signed with Aethon Energy Management move Telllurian's Driftwood LNG project closer to development.
28-05-2024: BW Energy appoints Morlot as CFO BW Energy has appointed Brice Morlot as chief financial officer, effective June 30, 2024.
28-05-2024: Petrobras officially elects Chambriard as CEO Petrobras has officially appointed Magda Chambriard as a member of the board of directors and elected her as CEO.
28-05-2024: Energy Transfer signs $3.25-billion deal to add Permian gas pipeline, processing assets Energy Transfer agreed to acquire WTG Midstream Holdings in a deal expected to provide the company with increased access to growing supplies of natural gas and NGL volumes to enhance its Permian operations and downstream businesses.
24-05-2024: Promethean awards contract for GOM decommissioning Promethean let a contract to Elemental Energies LLC to support the decommissioning of nine orphaned wells in the Gulf of Mexico.
24-05-2024: CNOOC, Eni awarded petroleum blocks offshore Mozambique CNOOC Ltd. and Eni SPA have been awarded separate petroleum exploration and production concession contracts in Mozambique.
24-05-2024: Vår Energi sells Bøyla asset Concedo AS has agreed to acquire from Vår Energi ASA a 20% interest in Bøyla field for $24 million. Concedo will assume full decommissioning liabilities for the acquired field.
23-05-2024: EIA: US gasoline prices ahead of Memorial Day weekend 1% higher than last year The average retail price of regular gasoline in the US was $3.58/gal on May 20, 2024—the Monday before Memorial Day—a 1% increase from the same time last year.
23-05-2024: Sonatrach signs agreements to enhance Algeria’s energy system Sonatrach signed agreements with various companies aimed at supporting projects in Algeria and boosting gas supplies to Europe.
22-05-2024: ADNOC makes first investment in Mozambique for stake in LNG development Galp has signed an agreement with ADNOC for the sale of its upstream assets in Mozambique.
22-05-2024: EIA: US crude inventories up 1.8 million bbl US crude oil inventories for the week ended May 17 increased by 1.8 million bbl from the previous week, according to data from the US EIA.
22-05-2024: Equinor extends Deepsea Aberdeen contract Equinor exercised an option to extend the use of the Deepsea Aberdeen semi-submersible drilling rig on the Norwegian Continental Shelf.
21-05-2024: Equinor extends Mariner B contract Equinor (UK) Ltd. exercised a 2-year option on the contract with Odfjell Technology (UK) Ltd. for provision of full drilling services on Mariner A platform east of the Shetland Islands.
21-05-2024: WildFire Energy to acquire Eagle Ford assets from Apache WildFire Energy has agreed to acquire about 237,000 net acres and interests in 465 wells in the East Texas Eagle Ford from Apache Corp. and subsidiaries.
15-05-2024: Water management Shake, rattle and roll
15-05-2024: Custom-made blueprint for optimizing late-life assets Late-life management of oil and gas assets is a careful balancing act where operators weigh many evolving factors, all while tracking cessation of production and potential options that follow. Mistakes can be costly and developing a tailored asset management strategy is crucial to avoid wasting resources and ensure that assets are maximized.
15-05-2024: OTC recognizes 2024 Spotlight on New Technology® award winners In late March, the Offshore Technology Conference (OTC) announced the winners of their 2024 Spotlight on New Technology Award. Per the organization’s announcement, “this esteemed honor is given exclusively to OTC exhibitors who are reshaping the offshore energy sector through their innovation and development of technologies.” Echoing the awards of 2023, 15 technologies were selected for their advancements in the offshore energy sector—five of these are from small companies, a slight decrease from 2023’s seven. 
15-05-2024: Solutions for decarbonizing offshore power generation Reducing reliance on hydrocarbons for power is critical to achieving near- and long-term sustainability targets. Siemens Energy is collaborating with major offshore operators to implement decarbonization strategies for electrification, automation and digitalization. This article highlights successful implementation of technologies at several projects and discusses other promising concepts under development.
15-05-2024: Taming the red zone with automation Increasing safety and reducing injuries during drilling is gaining momentum. Automation achieves these goals in the red zone by automating risk-prone, manual tasks. Automated installation of control line clamps has increased rig floor safety. Semi- and fully automated systems will become available commercially later this year.
14-05-2024: Wellbay innovation supports lower-cost, lower-risk phased approach for HP DW discoveries Unlocking the promise of America’s Great Lower Tertiary Play by adopting a safer, more profitable dry tree approach.
14-05-2024: Executive viewpoint Ensuring energy security: A call to action for Europe's future
14-05-2024: Advancing safer deepwater drilling with an integrated managed pressure drilling/wired drill pipe service A new event detection and management service integrates proven MPD and wired drill pipe technologies for faster detection and resolution of downhole events and safer, more efficient deepwater drilling.
14-05-2024: Dallas Fed: Outlook improves, even as activity little changed; break-even prices increase Faced with ongoing uncertainties ranging from the fall elections to the global oil market and the LNG “pause,” U.S. producers are holding activity steady.
09-05-2024: Elevating support technology to enhance energy production Produced water is a significant issue for the oil and gas industry, presenting environmental and logistical challenges that require careful management and technological solutions. By implementing effective treatment and reuse techniques, operators can minimize the environmental impact of produced water and enhance their operations’ sustainability.
09-05-2024: Occidental output hurt by Gulf outage, helped by Permian productivity Higher capital spending in this year's second quarter will set the stage for production growth in second-half 2024.
09-05-2024: Vital targets near-record production ahead of second-half slowdown Vital Energy expects to operate four drilling rigs, run two completions crews, and turn in-line 24 wells in the Permian basin in second-quarter 2024.
08-05-2024: Shell inks deal to divest integrated Singapore refining, chemical assets Shell PLC has entered a deal to sell the entirety of its interest in subsidiary Shell Singapore Pte. Ltd.’s (SSPL) integrated refining and petrochemical operations in Singapore.
08-05-2024: EIA: US crude inventories down 1.4 million bbl US crude oil inventories for the week ended May 3, excluding the Strategic Petroleum Reserve, decreased by 1.4 million bbl from the previous week, according to data from the US EIA.
08-05-2024: Permian Resources lifts production target after stronger-than-expected first quarter Recent acquisitions worth $270 million will call for an additional $50 million in capex during second-half 2024.
08-05-2024: EIA: Brent crude prices to stay near $90/bbl to end-2024 The US EIA expects voluntary OPEC+ crude oil production cuts and ongoing geopolitical risks will maintain Brent crude oil prices near $90/bbl for the remainder of 2024 before falling to an average of $85/bbl in 2025.
08-05-2024: DNO adds to producing assets position offshore Norway DNO ASA has agreed to acquire stakes in five oil and gas fields in the Norne area in the Norwegian Sea from Vår Energi for $51 million.
07-05-2024: Biden administration finalizes strict methane reporting standards The US EPA finalized tougher methane reporting standards that could increase the number of oil and gas companies that must pay fees for excess methane emissions.
07-05-2024: US resumes SPR refills as crude prices slip below $80/bbl The US Department of Energy is resuming Strategic Petroleum Reserve purchases, with new deliveries beginning in October.
06-05-2024: ExxonMobil advances Uaru field work with FPSO integration contract ExxonMobil contractor Offshore Frontier Solutions, a Modec Group company, signed Seatrium for an FPSO topsides integration contract for work offshore Guyana.
06-05-2024: Civitas signs deals to sell certain DJ basin assets for $215 million The company’s first-quarter production totaled 336,000 boe/d, balanced almost evenly between the Permian and DJ basins.
02-05-2024: Antero Midstream strikes Appalachia bolt-on deal Antero Midstream has acquired natural gas gathering and compression assets in the Marcellus shale for $70 million.
02-05-2024: Shell increases q-o-q earnings to $7.7 billion Shell plc had first-quarter 2024 adjusted earnings of $7.7 billion, up from $7.3 billion in fourth-quarter 2023, reflecting strong operational performance across the business.
02-05-2024: ConocoPhillips' earnings down year-over-year at $2.6 billion ConocoPhillips had first-quarter 2024 earnings of $2.6 billion, down from first-quarter 2023 earnings of $2.9 billion.
02-05-2024: Equinor enters collaboration for Wisting, Bay du Nord early works Equinor signed a collaboration agreement with Subsea 7 SA and Subsea Integration Alliance for collaboration on early, joint concept studies for two projects.
02-05-2024: Neste appoints Malinen to succeed Lehmus as president, CEO Neste Corp. has appointed Heikki Malinen as president and chief executive officer.
01-05-2024: EIA: US crude inventories up 7.3 million bbl US crude oil inventories for the week ended Apr. 26, excluding the Strategic Petroleum Reserve, increased by 7.3 million bbl from the previous week, according to data from the US Energy Information Administration.
01-05-2024: Chesapeake doubling curtailments in second quarter The company is on track with its plan to finish the year with about 1 bcfd in reserve production.
01-05-2024: CER approves operation of Trans Mountain crude pipeline expansion The Canada Energy Regulator (CER) has approved Trans Mountain Corp.’s application to place its 590,000-b/d expansion project in service.
01-05-2024: Touchstone to become Trinidadian operator of scale with Trinity acquisition Touchstone Exploration Inc., Calgary, has agreed to acquire Trinity Exploration and Production Plc in an all-share deal with an implied value of about $30.1 million.
30-04-2024: White House permitting rule draws ire from industry, Manchin The White House’s Council of Environmental Quality (CEQ) finalized a rule that it said would streamline the environmental review process under the National Environmental Protection Act (NEPA).
30-04-2024: MPLX increases y-o-y net income, places Marcellus gas processing plant into operation MPLX LP had first-quarter 2024 net income of $1.005 billion, compared with $943 million for first-quarter 2023, and adjusted earnings of $1.635 billion, compared with $1.519 billion for first-quarter 2023.
30-04-2024: U.S. Energy Development promotes Thaxton to VP U.S. Energy Development Corp., Fort Worth, has promoted Robert Thaxton to vice-president of oil and gas business operations.
30-04-2024: Humble Midstream adds to leadership team Humble Midstream has added to its leadership team. Brian Newmarch and John Shefchik have recently joined the company as chief financial officer and vice-president, engineering and construction, respectively.
29-04-2024: Chevron joins license offshore Namibia as operator A Chevron Corp. affiliate has agreed to a farm-in deal with Namcor for an 80% interest and operatorship of PEL 82, which governs blocks 2112B and 2212A in Walvis basin, offshore Namibia.
26-04-2024: The reserves replacement dilemma: Can intelligent digital technologies fill the supply gap? Oil reserves are being consumed faster than they’re being replaced. If the reserve replacement ratio doesn’t improve, supply could fail to meet demand before lower-carbon and new energy solutions mature. Companies rethinking strategies are using infrastructure-led exploration as a digital solution to find economically viable new prospects.
26-04-2024: Coiled tubing drilling’s role in the energy transition Coiled tubing drilling is an excellent example of how existing technology can help move the oil and gas sector towards net zero.
26-04-2024: Shale technology: Bayesian variable pressure decline-curve analysis for shale gas wells A new workflow generates probabilistic history-matches and production forecasts for any decline-curve model while incorporating variable BHP conditions. It provides fast history matches and forecasts of shale gas wells more accurately than traditional DCA while quantifying model uncertainty. The primary value added is an innovative method for probabilistic variable-pressure DCA.
26-04-2024: Digital transformation/Late-life optimization: Harnessing data-driven strategies for late-life optimization Late-life assets present a myriad of challenges that operators must tackle to ensure continued safety and integrity. Robust data management strategies play an increasingly pivotal role in optimizing asset performance in mature assets to ensure economic viability.
26-04-2024: Advancing offshore decarbonization through electrification of FPSOs Electrification is the most practical solution for decarbonization, especially as renewable generating capacity increases and momentum to electrify vessels, including FPSOs, continues to build. However, the industry still faces headwinds, including high upfront costs, a lack of supporting infrastructure and properly trained personnel, and gaps in standards.
25-04-2024: Rystad: Russian LNG's future in jeopardy as sanctions' impact grips Despite Western sanctions post Russia's invasion of Ukraine, Russian oil production has remained strong, but the country’s natural gas and LNG sectors are strained due to pipeline infrastructure limitations and Western dependencies, according to Rystad Energy.
25-04-2024: TC Energy’s NGTL gas pipeline resumes normal operations TC Energy earlier this week stood down the emergency response to a rupture on its NOVA Gas Transmission Ltd. Grande Prairie Mainline, near Edson, Alta.

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