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How Canada’s oil sands transformed into one of North America’s lowest-cost plays

Oil & Gas 360º

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. bbl between 2017 and 2019, according to BMO. Back in 2017-2019, U.S. shale costs up.

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Equinor Files Development Plan for Fram South in Norwegian North Sea

Rigzone

The project, a subsea tieback to the existing Troll C platform, holds estimated recoverable volumes of 116 million barrels of oil equivalent. The Fram South development consists of Echino South, discovered 2019; Blasto, discovered 2021; and two smaller discoveries. kilograms of carbon dioxide per barrel of oil equivalent.

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Exxon vs. Chevron battle sets stage for oil industry’s race for prize assets: Bousso

Oil & Gas 360º

Stabroek is a highly attractive asset, with 11 billion barrels of oil reserves and production costs of only around $20 a barrel, among the lowest in the world, according to consultancy Rystad Energy. billion barrels, according to LSEG data. rival, the latest move in a decades-long rivalry that has helped shape the U.S.

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Chevron wins Exxon case but loses time, oil and billions

Oil & Gas 360º

The offshore oilfield holds more than 11 billion barrels of oil and is one of the fastest-growing oil production regions in the world. He abandoned his takeover bid for Anadarko Petroleum in 2019 after being outmanoeuvred by Occidental Petroleum’s higher offer. oil producer had originally targeted a mid-2024 close for the deal.

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Texas Supreme Court rules produced water belongs to mineral lessee

Permian Basin Oil and Gas Magazine

The four leases were granted by two surface owners, the Colliers, between 2005 and 2014, and COG drilled 72 horizontal wells that generated nearly 52 million barrels of produced water. In 2019 and 2020 the Colliers signed “produced water lease agreements” with Cactus Water Services, conveying produced water to Cactus.

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Venezuela’s PDVSA oil sales abroad hit $17.5 billion in 2024 as exports jump

Oil & Gas 360º

sanctions on Venezuela’s energy industry since 2019. PDVSA’s crude oil and fuel exports averaged 805,500 barrels per day (bpd) last year, according to preliminary data from its 2024 financial and operational results. The licenses to U.S. In late May, however, Washington revoked those licenses to take Venezuelan crude bound for U.S.

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Valor | Energy Connection – June 23, 2025

Valor

While some experts expect a short conflict and easing prices, others warn a complete shutdown of the strait could send oil prices soaring to $120-$130 per barrel, hurting global consumers. resilience stems from shifting from importing 14 barrels per capita in 1977 to net exporting 2.5 Shale’s ability to add 4.2

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