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Guyana’s offshore story began in earnest with ExxonMobil’s Liza-1 discovery in 2015, followed by first oil in 2019. What remains unclear is how far and how fast Suriname can go, and whether it intends to follow Guyana's high-volume path or chart a more calibrated trajectory. Today, production…
Leaving Price Targets in the Past, OPEC+ Is Hunting for Market Share The upcoming OPEC+ meeting, initially planned for July 6 but subsequently moved a day earlier citing the Muslim holy day of Ashura, is set to see another expedited 411,000 b/d output increase as the oil group seeks to regain market share.
(BOE Report) – Giant shovels, driverless trucks and a dog-like robot have all helped Canada’s oil sands companies including Imperial Oil and Suncor become some of North America’s lowest-cost oil producers, driving down overheads even as the worst inflation in a generation pushed U.S. shale costs up. tariff threats.
(BOE Report) – LONDON, July 18 – The high-stakes clash between Exxon Mobil and Chevron over a prized South American oilfield may be a sign of what’s to come in the oil and gas industry as competition for a shrinking pool of prime assets heats up. Chevron is set to finalize its $53 billion acquisition of U.S. energy sector.
oil producer managed to delay the tie-up by over a year, costing its rival billions in lost Guyana oil revenue and slowing integration. The offshore oilfield holds more than 11 billion barrels of oil and is one of the fastest-growing oil production regions in the world.
(World Oil) – Global supply of liquefied natural gas is set to surge the most since 2019 next year, primarily driven by production additions in North America, the International Energy Agency said. The increase in supply will accelerate to 7%, or 40 billion cubic meters a year in 2026, following a 5.5%
(Investing) – Venezuelan state-run PDVSA’s oil sales abroad in 2024 stood at $17.52 Venezuela has some of the world’s largest reserves of oil, but its crude output remains at a fraction of what it was a decade ago after a lack of investment, mismanagement at PDVSA and U.S. sanctions on Venezuela’s energy industry since 2019.
In 2024, Argentina recorded 99 M&A deals, the highest since 2019, with transaction values reaching $8 billion—the largest amount since 2017, PwC data showed. Vaca Muerta, the world’s second-largest unconventional gas reserve and fourth-largest oil reserve, located in the province of Neuquén, is one of Argentina’s main attractions.
Their first discovery was announced at the Glaucus-1 well in February 2019. . “Further assessment will be required in the coming months to evaluate the results,” Letymbiotis stated after Cypriot President Nikos Christodoulides received a briefing on the findings.
COG Operating announced June 27 resolves a contentious dispute between surface estate owners and mineral estate holders “with far reaching implications for the water midstream sector and upstream oil and gas industry.” COG said it owned the produced water and sued, the trial court agreed with COG, and the court of appeals affirmed.
The project, a subsea tieback to the existing Troll C platform, holds estimated recoverable volumes of 116 million barrels of oil equivalent. Oil comprises 75 percent and gas 25 percent, according to Equinor. The Fram South development consists of Echino South, discovered 2019; Blasto, discovered 2021; and two smaller discoveries.
In 2019 another 10-year agreement was penned for TotalEnergies to supply 250,000 metric tons per annum to CMA CGM at Marseille Fos. MORE FROM THIS AUTHOR Jov Onsat Editor OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX! That new deal is on top of two previous supply agreements. There’s a reason 700K+ energy professionals have subscribed.
Although deal-making rebounded in Oceania, South America and Europe during the second quarter, it was unable to offset the sharp decline in US shale oil transactions. Upstream M&A deal value for the first half of 2025 reached just over $80bn, a 34% drop compared to the first half of 2024.
Working gas in underground storage, Lower 48 states Historical Comparisons Stocks billion cubic feet (Bcf) Year ago (06/06/24) 5-year average (2019-24) Region 06/06 /25 05/30/ 25 net change implied flow Bcf % change Bcf % change East 531 498 33 33 599 -11.4 At 2,707 Bcf, total working gas is within the five-year historical range.
Under the 2019 Climate Act, that is required to have 70% renewable electricity sources by 2030 and net-zero carbon emissions by 2040. Hochul has previously argued that officials should have come up with a Plan B and better anticipated the state’s energy needs before moving to cut the plant.
Algeria’s national oil and gas company Sonatrach SpA has the majority stake of 51 percent in accordance with Algerian law. percent) and the Ourhoud and El Merk oil fields in the Berkine basin located in Blocks 404a and 208 (12.25 square miles) onshore Algeria. square miles) onshore Algeria. State-owned QatarEnergy also owns 24.5
10 âCO 2 storage projects in Europe,â International Association of Oil and Gas Producers, March 2024. This mature technology has a long operational history in the oil and gas industry and is the most commonly used option for short to medium distances. In addition, most of Europeâs depleted oil and gas fields are located at sea.
La CNDH responsabiliza a Pemex por su infraestructura obsoleta y falta de mantenimiento, señalando omisiones graves tras la tragedia de Tlahuelilpan en 2019.
The NRC has now approved license extensions for seven nuclear stations since 2019. MORE FROM THIS AUTHOR Jov Onsat Editor OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX! Summer Nuclear Station Unit 1 in Jenkinsville, South Carolina, a 20-year extension to operate through 2062. All comments are subject to editorial review.
June 23, 2025 Edition At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. How oil prices are faring after U.S. Read more US oil rig count down by 1, says Baker Hughes Summary : For the week ended June 20, the total U.S. Read more Iran has an oil card to play.
Adura, which will be equally owned, combines the two companies’ offshore assets in the UK, where Shell currently produces over 100,000 barrels of oil equivalent a day (boed) and Equinor about 38,000 boed. “Adura is expected to produce over 140,000 barrels of oil equivalent per day in 2025”, Equinor said.
According to New Mexico’s Legislative Finance Committee, offering the market rate of 25 percent for premium oil and gas leases is projected to contribute an additional $50 million-to-$75 million annually to the Land Grant Permanent Fund.
Ataques a infraestructura saudita en 2019: Si bien no involucraron un cierre de Hormuz, merece mención el ataque con drones a las instalaciones de Abqaiq (Arabia Saudita) en septiembre de 2019 –atribuido indirectamente a Irán– porque provocó el mayor salto diario de precios en décadas. Oil Market Report, junio 2025.
Nuestra infraestructura de almacenamiento no ha cambiado desde 2019”, advierte Monroy, lo que deja a la economía mexicana expuesta ante interrupciones del suministro o incrementos abruptos en los precios internacionales. Mientras potencias como China tienen reservas para meses, México cuenta apenas con inventarios para dos días.
On the vendor/supplier side, Houston-based Vertice Oil Tools acquired Greenwell Engineering Inc. Other large customers today for Underdog include Fasken Oil and Ranch and Hibernia. With Fasken Oil and Ranch, same thing—they’re a family owned company like we are,” Esquibel says. “I on April 15.
watch now VIDEO 4:29 04:29 Electricity demand is absolutely growing, says Siemens Energy CEO Squawk Box Europe "Electricity prices are regionally determined, not globally determined like oil prices," said Joe Seydl, a senior markets economist at J.P. Morgan Private Bank. watch now VIDEO 12:49 12:49 Why the U.S.
Optimize Infrastructure Utilization The Wink to Webster crude oil pipeline—operated by ExxonMobil—continues running near full capacity (~1.35 Oil & Gas Operator Account Directory Saskatchewan Light Oil Operator List Western Canada Heavy Oil Operator List St. million bpd out of 1.5 million).
But it was clear as early as 2019 that it would be behind schedule and it now seems to have fallen off the rails entirely. In 2023, Canada ended federal subsidies specific to the oil and gas sector. Environmental organizations say Canada still spends billions of dollars to support oil and gas companies.
“The amount includes the principal debt for gas transit services under the 2019 agreement, as well as delay interest and full compensation for legal expenses incurred by Naftogaz”, Naftogaz said in an online statement. The state-owned integrated oil and gas company said it had won the award June 10.
Brent Crude $78.03 +1.73% Natural Gas $4.04 +1.35% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS Equinor Offered Another CO2 Exploration License in Norwegian North Sea by Jov Onsat | Rigzone Staff | Thursday, June 19, 2025 | 5:32 AM EST EXL014 will be the fourteenth license to be awarded for CO2 storage on Norway's continental shelf.
exajoules in 2019, 30.07 MORE FROM THIS AUTHOR Andreas Exarheas Editor | Rigzone OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX! by Andreas Exarheas | Rigzone Staff | Tuesday, July 08, 2025 | 10:51 AM EST Rigzone takes a closer look at the Energy Institute's latest statistical review of world energy report. From 2014 to 2024, U.S.
exajoules in 2019, 33.29 MORE FROM THIS AUTHOR Andreas Exarheas Editor | Rigzone OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX! by Andreas Exarheas | Rigzone Staff | Monday, July 07, 2025 | 7:00 AM EST Rigzone takes a closer look at the Energy Institute's latest statistical review of world energy report. exajoules in 2014, 26.65
Andy Lipow, president of Lipow Oil Associates, said the reports by the UK Maritime Trade Operations on widespread electronic interference and GPS jamming and location spoofing are adding to vessel owners' worries. In 2023, oil flows through the waterway averaged 20.9
rig count is made up of 415 oil rigs, 122 gas rigs, and five miscellaneous rigs, according to Baker Hughes’ count, which revealed that the U.S. The country’s gas rig count increased by five, its oil rig count dropped by seven, and its miscellaneous rig count remained the same, week on week, the count showed. The total U.S.
MORE FROM THIS AUTHOR Paul Anderson Writer OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX! The company said in a media release it completed a $175 million JOLCO lease financing, which generated net proceeds of approximately $42 million, extending debt maturity to 2035 and reducing the cost of debt by 1.5 percent per year.
“Based on preliminary interpretation of the well data, the discovery could represent an in-place natural gas resource of approximately 5 trillion to 8 trillion cubic feet (142 billion to 227 billion cubic meters)”, the United States energy giant said in a press release February 28, 2019. 700K Industry Pros can’t be wrong.
1 Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 5:33 05:33 Oil prices jump more than 2% after U.S. strikes on Iran raise fears of supply disruption News Videos Oil futures jumped more than 2% at the start of the first trading session since the U.S. crude oil on Sunday evening rose $1.76, or 2.38%, to $75.60
We are standing up for our oil and gas sector and making sure our world-class resources reach the markets that need them. Data showed that provincial emissions from venting and flaring at upstream oil facilities fell by 71 percent compared to 2015 levels, and by 13 percent compared to 2023 levels, according to a separate statement.
MORE FROM THIS AUTHOR Jov Onsat Editor OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX! tWh to 55 tWh. tWh to 55 tWh. “At the same time, a more optimistic assessment based on Member State projections suggest that the EU could reach a figure of 42.6 “This represents significant progress compared to the 33.1-33.7
The European specialist in the collection and recycling of used cooking oil will supply TotalEnergies’ biorefineries with 60,000 tons of European used cooking oil per year over the next 15 years. Under the agreement, Quatra will collect used cooking oil from restaurants across France and Europe.
emergency oil reserves, violating his previous vow to fill them “right to the top”. The American SPR is the world’s largest emergency oil storage, able to hold 714 million barrels, or the equivalent of 35 days of U.S. oil consumption, when full. But does the United States actually need to fill up its vast oil reserves?
Image by Wolfgang Bohusch via iStock OPEC+ will increase oil production even more rapidly than expected next month, as the group led by Saudi Arabia seeks to capitalize on strong summer demand in its move to reclaim market share. Brent oil futures have retreated 8.5 MacDonald, S. El Wardany, N. Razzouk & G.
(Oil Price) – The mining sector continues to face new and growing challenges. Since 2019, SCC has invested approximately US$379.9 President Trump only yesterday pushed copper prices to record highs after threatening 50 percent tariffs on the precious metal. Latin America is as exposed as any other region to the US tariff policy.
We don’t launch battery metals until, I think, 2018, 2019, and it was a slow burn, but over the last two and a half years, that market is now sitting at record levels of open interest, record levels of volume, and that product has never been as relevant as it is today. I’d use battery metals as a great example of this.
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