Check out the latest oil industry related news

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.