US Oil Focused on Economics, not 'Drill, Baby, Drill' - Exxon Mobil Exec
. "Maintaining the discipline, driving the quality, driving the information, will naturally limit that growth rate."Relaxing of the land permitting processing could provide a short-term boost to production, he added.Trump pledged during the election campaign to boost domestic oil and natural gas output. Reuters reported on Monday that his transition team is putting together a wide-ranging energy package to roll out within days of his taking office.The U.S. is already the world's top oil producer following a surge in shale oil production, pumping over 13 million barrels per day earlier this
Edward Heerema – Dutch Courage with Single-minded Focus
in offshore spending is expected to continue. Even before the war in Ukraine pushed prices up to new highs, there were also predictions that offshore upstream spending would rise to 2014 levels again, by 2030. The war is also forcing energy policy change. Some of that is about increasing oil and gas output, but also increasing renewables capacity. While Edward doesn’t believe offshore wind will make any substantial dent in the dominance of oil and gas in the global energy system any time soon, he does see it as a nice addition, including a fill-in work for Pioneering Spirit.Indeed, Pioneering
Record-size US Offshore Oil Lease Sale Draws Modest Bidding
production from the region for years. He said 33 companies, including majors Royal Dutch Shell Plc , BP Plc, Chevron Corp, and Total SA , had placed 159 bids on 148 blocks. But critics of the administration called the unusually large lease sale ill-timed. U.S. crude oil and natural gas output is already smashing records thanks to improved drilling technology that has opened up cheaper onshore reservoirs, and Brazil and Mexico are also competing for drilling investment in their own deepwater acreage. "Offering a nearly unrestricted supply in a low demand market with a cut
Norwegian Unions Say 755 O&G Workers Could Strike
start the following day. The affected fields account for nearly 18 percent of Norway's oil output and a little more than 17 percent of its natural gas, Reuters calculations show. Combined oil output was about 285,000 barrels per day in the first four months of the year, with natural gas output at 48.5 million cubic metres (mcm) per day. Norway currently produces about 1.6 million barrels of crude and 280 million standard cubic metres of natural gas per day. Its combined natural gas liquids (NGL) and condensate output is about 400,000 barrels. Employers have argued that
ONGC to Invest $5 bln to Develop India's Eastern Gas Asset
;With the new gas price announced by the government, our discoveries in the KG (Krishna Godavari) basin are now viable," Sarraf said, adding that an investment plan would be announced by the end of March or by the first week of April at the latest. The new investment may boost ONGC's natural gas output by a quarter and crude oil production by almost 15 percent over the next 4-5 years, a major leap for a company often criticized for failing to arrest a production decline from its ageing fields. After a decade-long trend of falling production, the company reported a marginal rise in its overall
Gazprom, Sonatrach make O&G find in Algeria
drilling in the desert Berkin basin, bringing to three the number of joint discoveries there, it said on Wednesday. Last week, Algeria awarded just four out of 31 oil and gas fields on offer in its latest energy bidding round as the North African OPEC producer looks to bolster stagnant oil and gas output. All four were won by foreign consortiums. The new discovery was made in the El Assel area at block 236b after drilling reached a final depth of 4,120 metres, the Algerian firm said in a statement. Gazprom and Sonatrach had made two discoveries in the same perimeter following the drilling
Eni, PetroVietnam Ink Offshore Exploration Contract
Eni said on Thursday it had signed a new offshore exploration contract with PetroVietnam as the Italian oil and gas group moves to strengthen its presence in Vietnam. Eni said it had signed a Product Sharing Contract with state-owned PetroVietnam for exploration in the Phu Khanh Basin which will last 7 years. Asia represents a new frontier area for Eni which currently produces more than half its oil and gas output in Africa. (Reporting by Stephen Jewkes)
Statoil Farms Down in Angolan Pre-salt
continental shelf is the largest contributor to our oil production outside Norway and a key building block in our international strategy. Angola yielded approximately 200,000 barrels of oil equivalent per day in equity production in 2013, which is around 28% of our total international oil and gas output,” said Steinar Pollen, Statoil’s country manager in Angola.
Britain Oil Review: New Regulator Needed to Lift Output
By Karolin Schaps, Reuters Britain urgently needs its oil and gas companies to pay for a new regulatory body to encourage industry collaboration and counter plunging North Sea production rates, a government review, the first since the mid-1990s, said on Monday. Britain's oil and gas output has fallen about two thirds since its peak at the turn of the century, but reforms could lead to 200 billion pounds ($330 billion) worth of extra oil and gas being extracted, the government said. The North Sea is thought to contain billions of barrels of hard-to-reach oil but with many
February 2025
