Exploration And Production News

 

U.S. oil production remains near record high

Sep 16, 2019

U.S. crude production remained close to a record level in June but growth has slowed significantly since the end of last year in response to lower oil prices and the slowdown is set to extend into 2020.Crude output averaged 12.1 million barrels per day (bpd) in June, essentially unchanged from record levels in May and April, according to data from the U.S. Energy Information Administration (EIA) published on Thursday…

Timor Resource to Drill 5 Wells in Timor-Leste

Sep 18, 2019

Australian privately-owned oil and gas company Timor Resources said it has commissioned Eastern Drilling to commence drilling operations in the Southeast Asian country of Timor-Leste.One of the world’s last frontiers for oil and gas, Timor-Leste's…

Senvion to Sell Assets to Siemens Gamesa

Sep 17, 2019

Insolvent German wind turbine manufacturer Senvion is in exclusive talks with Siemens Gamesa (SGRE) over the sale of a substantial part of its business.The Germany firm said that it has entered into an exclusivity agreement with Siemens Gamesa…

Oil Price Spike after Saudi Attack Temporary

Sep 16, 2019

The drone attack on the world’s largest oil processing facility, Abqaiq in the heart of Saudi Arabia’s oil industry, forced Saudi Aramco to shut in 5.7 million barrels per day (bpd) of crude production, which equates to 7% of the current global crude and condensate production…

CannSeal Debuts Mobile Mixer Technology

Sep 16, 2019

New mobile mixer technology from annular isolation technology specialist CannSeal facilitates the company’s proprietary epoxy resin to be mixed on-site, opening up new markets independent of location as it removes constrictions associated with storage and curing times…

Oil Soars 10%

Sep 16, 2019

Oil futures jumped 10% on Monday after an attack on Saudi Arabian crude oil processing facilities over the weekend sliced the kingdom's production in half and threatened to hamper shipments from the world's largest crude exporter.Prices initially…

Offshore Wind Conference Set for SUNY Maritime

Sep 16, 2019

The Center of Excellence for Offshore Renewable Energy at the State University of New York Maritime College and the Maritime Industry Museum at Fort Schuyler, are hosting the Ocean Wind Energy Conference on Thursday, September 26, 2019 at the Maritime Academic Center…

Schlumberger, WesternGeco to Provide E&P Data

Sep 16, 2019

WesternGeco, the seismic and geophysical data solutions division of Schlumberger, has entered a strategic collaboration with IHS Markit, a global provider of information, analytics, and solutions.The collaboration will bring together data, technology…

QP Issues Tender for 4 Mega LNG Trains

Sep 15, 2019

The state owned oil and gas company Qatar Petroleum has issued Engineering, Procurement and Construction (EPC) tender for liquid products storage and loading facilities of the North Field Expansion (NFE) Project.The NFE Project involves the…

Non-Opec Supply Set to Surge

Sep 15, 2019

Liquid production growth for non-OPEC countries reached the highest rate on record in 2018, with a growth of almost 2.9 million barrels per day (bbl/d).For this year, the trend suggests that non-OPEC countries’ liquid production will reach above 2 million bbl/d once again…

Aramco Suspends 50% of Production

Sep 15, 2019

Saudi Arabia has temporarily halted production at two Aramco oil facilities that were attacked by Yemeni rebels, interrupting about half of the company’s total output.Saudi Aramco said the production of 5.7 million barrels of crude a day had…

US Rig Count Slides

Sep 13, 2019

U.S. energy firms this week reduced the number of oil rigs operating for a fourth week in a row as producers cut spending, leading to slower growth in crude output.Drillers cut five oil rigs in the week to Sept. 13, bringing the total count down to 733…

Inpex Eyes Australia Expansion

Sep 13, 2019

Inpex Corp, Japan's top oil and gas company, wants to expand in Australia at its Ichthys liquefied natural gas (LNG) plant and through potential acquisitions, as part of a plan to become a major regional gas company, its Australian boss said…

US Shale to Peak at 14.5Mbpd in 2030

Sep 13, 2019

US shale supply will peak at approximately 14.5 million barrels per day (bpd) around 2030, said the energy research and business intelligence company Rystad Energy.In the past decade, crude oil coming from shale patches such as the Permian in…

DNV GL Calls for Action to Meet Paris Climate Target

Sep 12, 2019

DNV GL’s Energy Transition Outlook indicates global temperatures rise by 2.4⁰C by end of century. Energy experts identify a combination of technology measures to curb global warming which includes: Boost solar power more than 10 times to 5 TW…

Current News

Petronas Q2 Profit Rises 8%

Petronas Q2 Profit Rises 8%

Timor Resource to Drill 5 Wells in Timor-Leste

Saudi Aramco Pursues IPO Planning Despite Attack

Saudi Aramco Pursues IPO Planning Despite Attack

Middle East Risks Keep Oil Prices High

Middle East Risks Keep Oil Prices High

Transborders Joins Forces with Osaka Gas

Transborders Joins Forces with Osaka Gas

BP Awards Caspian ACG Contracts

BP Awards Caspian ACG Contracts

Senvion to Sell Assets to Siemens Gamesa

Senvion to Sell Assets to Siemens Gamesa

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