US Oil Focused on Economics, not 'Drill, Baby, Drill' - Exxon Mobil Exec
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 year.(Reuters)The West Hercules platform oil rig moored off the coast of Newfoundland, with the supply vessel Atlantic Kingfisher is offloading supplies onto the rig. Copyright Dolores Harvey/AdobeStoc
Shell to Use New AI Technology in Deepwater Oil Exploration
from big-data analytics firm SparkCognition in its deep sea exploration and production to boost offshore oil output, the companies said on Wednesday. SparkCognition's AI algorithms will process and analyze large amounts of seismic data in the hunt for new oil reservoirs by Shell, the largest oil producer in the U.S. Gulf of Mexico. "We are committed to finding new and innovative ways to reinvent our exploration ways of working," Gabriel Guerra, Shell's vice president of innovation and performance, said in a statement. The goal is to improve operational efficiency and speed
Project Launched to Deploy Thermoplastic Composite Pipe Flowlines, Risers in Brazil's Pre-Salt Area
each one is supporting numerous risers, providing a huge opportunity for us in the replacement market. In addition, the country also invests circa $1billion in risers to support new FPSO operations each year, and this is set to climb in line with its ambition to become the world’s fourth largest oil producer by 2029. This JIP confirms that TCP is well-positioned to be a game-changer for the deepwater sector and for Strohm. We are on track to fulfill our vision of being the leading provider of non-corrosive solutions and supporting our strategy to provide products that deliver a significantly
VIDEO: 'Eye of fire' Near Offshore Platform in Mexico Extinguished
also shut the valves of the 12-inch-diameter pipeline.Angel Carrizales, head of Mexico's oil safety regulator ASEA, wrote on Twitter that the incident "did not generate any spill." He did not explain what was burning on the water's surface.Ku Maloob Zaap is Pemex's biggest crude oil producer, accounting for more than 40% of its nearly 1.7 million barrels of daily output."The turbomachinery of Ku Maloob Zaap's active production facilities were affected by an electrical storm and heavy rains," according to a Pemex incident report shared by one of Reuters' sources.Company
U.S. to send envoy to Saudi Arabia to Stabilize Oil Prices
said, on condition of anonymity.Trump administration officials said Saudi Arabia has for decades been a steadfast leader of stability in the global oil market. The energy representative would help the countries return to a path of stability, they said.The price crash is also devastating to U.S. oil producers, some of which have already begun putting employees on furlough.The hope is that President Donald Trump could negotiate with Saudi Arabia and Russia and convince them to match cuts with a similar cut in production in Texas, said Ryan Sitton, a commissioner with the Texas Railroad Commission,
Norway to Spend More Looking for O&G Near Russian Border
was located in an area which is not yet opened up for petroleum exploration and development.A Reuters source familiar with the decision said the areas the government wanted to take a close look at were opposite exploration blocks awarded by Russia on the other side of the border.Russia's largest oil producer Rosneft operates three blocks bordering Norway, information on the company's website shows.Norway's state-owned oil company Equinor, previously called Statoil, had plans to drill with Rosneft in one of the blocks, known as Perseyevsky.But Western sanctions imposed on Moscow after Russia
Equinor to Boost Drilling to Extend Norwegian Shelf Life
Oil producer Equinor aims to boost the recovery rate from its Norwegian fields to well above the global average to extend production from the mature basin beyond 2030.Equinor announced plans on Tuesday to drill up to 3,000 wells offshore from its native Norway in coming decades - almost as many as it has drilled since its startup in 1972 - to mitigate declining output from older fields, and extend the production lifetime of more than 20 installations.The company said it remained on track for to keep profitable oil and gas production in Norway towards 2030, but needed new measures to tackle a decline
Exxon Expects More Oil from Guyana's Offshore Block
Hess Corp said more than 4 billion barrels of oil equivalent could be recovered from the Stabroek block, which is part of one of the biggest oil discoveries in the world in the last decade.The previous estimate was 3.2 billion barrels of oil equivalent, Exxon, the world's largest publicly traded oil producer, said.Besides Exxon and Hess, China's CNOOC is also part of the consortium that is interested in Guyana's Atlantic coast resources.Exxon said production from Stabroek could reach over 750,000 bpd by 2025, which could place Guyana in the same league as South American peer Ecuador, a member
In US Gulf, Robots, Drones Take on Dangerous Offshore Oil Work
to cut costs and improve safety in some of the world's tougher working environments. Drones inspect gear high up on floating rigs. Robots crawl underwater to test subsea equipment for microscopic metal cracks. Remotely operated mini submarines can replace divers. Big oil producers such as BP and Statoil are racing to create the oilfields of the future, where smart devices replace workers. They have the potential to cut costs, save lives, and reduce the scope for human error. "This is going to change the way oil and gas does business," Carri Lockhart, senior vice
February 2025
