Oil & Gas 360º

JULY 11, 2025

million barrels per day this year, up 300,000 bpd from the previous forecast. On Monday, when traders reacted to OPEC+’s decision, oil rose nearly 2% towards $70 a barrel, despite the larger than expected output hike and concerns about the impact of U.S. World demand will rise by just 700,000 bpd, it said, implying a sizeable surplus.

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Oil & Gas 360º

JULY 16, 2025

tariffs policy and OPEC+ pumping more barrels, Canada’s oil sands industry finds itself in a position of strength. That means oil sands producers have lowered their overall costs by approximately $10 a barrel in about seven years. shale producers had a break-even price of between $50 and $52 per barrel. shale costs up.

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Oil Exploration and Production E&P Barrel 130

Rigzone

JUNE 30, 2025

The majority state-owned energy major put preliminary estimates for well 7720/7-DD-1H, or Drivis Tubaen, at 9-15 million barrels of oil. Drivis Tubaen is the 14th exploration well drilled in production license 532, awarded 2009, according to Equinor. feet) below the seabed. The well had a water depth of 345 meters, Equinor said.

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Exploration and Production Exploration Well Field Barrel 106

OilPrice

MAY 28, 2025

There were occasional exceptions, like the 2008-2009 recession and the demand slump from COVID-19, but global oil demand has increased at an average rate of about 1.2 million barrels per day (bpd) for nearly 60 years. But a recent forecast from the U.S. Energy Information Administration (EIA) suggests that the world may

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Oil & Gas 360º

MARCH 13, 2025

The first FPSO approved for operations in the Gulf of America, the BW Pioneer has been in service since its conversion in 2009. The vessel has a storage capacity of approximately 600,000 barrels of oil and processing capacity of approximately 80,000 barrels of oil per day.

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Oil & Gas 360º

MAY 7, 2025

Initial production test observations include: A peak rate of 2,848 barrels of oil equivalent per day (“boepd”) (11.9 million standard cubic feet per day (“mmscf/d”) and 856 barrels of oil per day (“bopd”)) on a 18/64-inch choke setting, which was achieved with no material drop in bottom hole pressure.

Energy 147

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Oil & Gas 360º

APRIL 16, 2025

7.895 million jobs were lost with Crash 2008, 145.908 million in May of 2008 (red dash) dropped to 138.013 million in December of 2009 (blue, dot-dot-dash). crude oil inventory declining to multi-year lows in January (Figure 5, red line) helped tug the price of West Texas Intermediate (WTI) crude oil above $80 per barrel (Figure 9).

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