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The Glaucus-2 appraisal well, completed in March 2022, confirmed the presence of a high-quality gas-bearing reservoir. This marks the second gas discovery in Block 10 by partners ExxonMobil and QatarEnergy. Their first discovery was announced at the Glaucus-1 well in February 2019.
producers slowing their drilling and completion activity this year. million b/d in 2022, 12.93 Energy Information Administration reduced its forecast for crude oil production this year. In its Short-Term Energy Outlook released Tuesday, EIA said, “Declining oil prices have contributed to U.S. As a result, we forecast U.S.
In 2022, the three main HtA industriesâcement, steel, and chemicalsâcontributed over 8 percent of the industrial sectorâs total direct gross value added (GVA) for Iberia and provided 300,000 direct jobs. Mtpa, COD 2022). 3 McKinsey Direct Air Capture and Storage (DACCS) Cost Model 2022.
The 1846 Breakthrough: Bibi Heybat Well In 1846, long before the American oil boom, the world’s first mechanically drilled oil well was completed at Bibi Heybat, just south of Baku. Related Blogs Permian Basin Oil History Permian Basin Discovery Great News for Texas Who Were the Top Oil Producing Countries in 2022?
billion minority sale in 2022 involving seven Alberta oil pipelines. During the earnings call, CEO Greg Ebel said he was “completely enthused” by the growing political focus on energy infrastructure development in both Canada and the U.S. Previous agreements include a C$1.12 In May 2025, Enbridge Inc. billion, up from $1.4
The region increasingly depends on global flows after losing most of its Russian pipeline gas in 2022. SEFE, formerly the European trading and supply unit of Gazprom PJSC, was nationalized in 2022 as part of a €6.3 billion ($7.2 billion) rescue package. conference in London Tuesday. OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX!
A successful formation test was completed, achieving a maximum production rate of 650 standard m 3 of oil per flow day through a 36/64 in. Despite a dry well in a previous attempt to delineate the discovery in 2022, the latest appraisal has provided encouraging results. nozzle opening.
The rig count is down 44% from its 2022 peak of 780 , reflecting both post-pandemic normalization and broader market hesitancy. Strategic Shift Toward Gas: Natural gas rigs are up 7 YoY , showing resilience. Producers may be pivoting to gas due to: Stronger gas prices.
Entropy entered a strategic $300 million investment agreement with Brookfield Asset Management in 2022. Entropy is a privately-owned company applying sophisticated science and engineering to develop commercial CCS projects.
Capital and activity: In 2024, Coterra invested $289 million in drilling and completions in the Anadarko Basin. The company does not break out public financials since going private in late 2022, but prior reports and investor calls indicated substantial capital allocation to Oklahoma.
Capex trends : E&Ps to cut spending 3% in 2025 vs. 2024 2024: Flat spending 2023: +27%, 2022: +40%, 2021: +4% Crude Output Forecast (EIA) : 2024: 13.2 Here is a summary of the U.S. million bpd (record) 2025: 13.4
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. Read more Democrats, Independents cool on solar and wind energy, poll says Summary : An AP-NORC poll shows U.S.
The Company first considered these early production concepts in 2022 and, cognisant of today’s backdrop, has seen significant renewed interest from third parties related to this approach. on 29 July 2025). (the the number of Ordinary Shares that he holds in total will remain the same at 160,408,482).
from 2018-2022, a provider of integrated specialty industrial services with operations in over 20 countries. Gatti brings more than 30 years of experience in energy and industrial sectors. Prior to joining Baker Hughes, he served as Chief Executive Officer and Chairman of the Board of TEAM, Inc.
“The license is offered with a binding work program with built-in milestones to ensure fast and efficient progress or relinquishment of the acreage if the licensees do not complete the storage project”, the ministry said in a statement. This is the eighth time Norway has awarded acreage for CO2 storage.
exajoules in 2022, and 37.19 “The statistical review continues to be full, first, and free: the fullest, most reliable account of energy production, consumption, trade and emissions; the first data source to provide a complete global picture of the previous year; and completely free to access for users,” the release continued.
An oil leak in late May had forced the shutdown of the 385km pipeline connecting subsidiary Agoco’s 10,000 b/d Hamada fields on the Ghadames Block NC-8A in the west of the country to the 120,000 b/d Zawiya refinery ( MEES, 30 May ). You’ll also be notified of our free articles & maps. By signing up, you agree to receive promotional emails.
will not complete scheduled deliveries of crude oil into the Strategic Petroleum Reserve until the end of the year due to maintenance, as much as seven months behind schedule, the Department of Energy said on Thursday. (BOE Report) – The U.S. Former President Joe Biden’s administration scheduled 15.8
“Chevron completed the merger with Hess Corporation on July 18,” the spokesperson said. This figure stood at 40,212 at year end 2023 and 38,258 at year end 2022, the annual report showed. We are offering severance benefits and outplacement support,” the Chevron representative added.
MTPA nameplate capacity for CP2 Phase One has been sold” Separately on Thursday Venture Global said it had completed the offering of senior secured notes with a principal amount of $4 billion to pre-pay certain outstanding amounts under Plaquemines LNG’s existing credit facilities. “To date, approximately 10.75
SPR levels dropped to a 40-year low of 347 million barrels in July 2023 after Trump’s predecessor Joe Biden carried out several SPR sales to ease rising oil prices, including releasing 180 million barrels in 2022 after Russia’s invasion of Ukraine sparked concerns about a global energy shortage. crude prices and take years to accomplish.
to complete its delayed acquisition of Hess Corp. On Friday Chevron announced its merger with Hess had been completed after a favorable ruling by the International Chamber of Commerce (ICC) tribunal in Paris. Niemeyer has been Chevron president for exploration and production in the Americas since October 2022. “The 15.38
The project recently started site work after completing clearance from the Federal Energy Regulatory Commission. The project has already secured authorization for its export volume when it received FTA approval April 2022. In March the DOE granted a conditional permit for CP2 LNG to export to non-FTA countries.
Lower profitability and increased volatility in asset management The European asset management industry began to recover in 2023 following a severe decline in 2022, according to McKinsey research. The information contained herein: (1) may not be copied or distributed; and (2) is not warranted to be accurate, complete or timely.
Said also owns UAE-based VS Petroleum DMCC , formerly Ikon Petroleum DMCC, and Rhine Shipping DMCC (Rhine Shipping) which, in 2022, were implicated in blending Iranian oil to sell as Iraqi oil. Since mid-2023, the VIZURI has completed multiple shipments of Iranian oil and transported millions of barrels of Iranian oil.
The average Chime customer completes more than 55 transactions per month using the Chime card and interacts with the app four to five times a day. billion on marketing between 2022 and 2024. Active member growth rose 23% in the first quarter from a year earlier, Britt said, with 8.6 Customer acquisition doesn't come cheap.
The facility is scheduled to be completed in the summer of 2022. Hexagon Purus is starting construction of a new manufacturing facility in Kelowna for battery packs and hydrogen storage systems for medium- and heavy-duty battery and fuel cell electric commercial vehicles.
(World Oil) –Cheniere Energy has announced that substantial completion of Train 1 at the Corpus Christi Stage 3 Liquefaction Project (CCL Stage 3) was achieved on March 16, 2025. As of January 31, 2025, overall project completion for CCL Stage 3 was 78.3%, which reflects engineering 97.6% complete, procurement 97.2%
In September 2022, EQT announced a deal to buy privately owned Tug Hill Operating’s West Virginia shale assets (90,000 acres and 800 MMcf/d of production in West Virginia) for roughly $5.2 The deal was finally completed nearly one year later (see EQT Finally. billion (see Confirmed: EQT Buys Tug Hill’s THQ Appalachia for $5.2
Hexagon Agility has received an order for Mobile Pipeline TITAN modules from RenewGas Transportation, a provider of complete turnkey transportation solutions for renewable natural gas (RNG). million for delivery in Q4 2022 thru […]. These modules will be used to transport and deliver RNG derived from agricultural waste.
Merge Electric Fleet Solutions and SafeHaven Pest Control have completed an electric vehicle pilot program that included the first deployment of a 2022 Ford F-150 Lightning all-electric pickup to SafeHaven’s business fleet.
Freeport LNGs export terminal with three liquefaction trains completely shut down (all three trains) in June 2022 after an explosion and fire (see Explosion Rocks Freeport LNG Export Plant Offline for 3 Weeks). What was initially thought to be a three-week outage lasted for ten months.
Ford has started production of the all-new F-150 at the Ford Rouge Center and has confirmed the construction of the new Rouge Electric Vehicle Center where it will build the all-electric F-150 by mid-2022. The new manufacturing center at the Michigan-based Rouge Center, once complete, will add 300 jobs and is part of a $700 […].
Results from the 2022 McKinsey Global Industrial Robotics Survey reveal that industrial companies are set to spend heavily on robotics and automation. However, many will need help to complete the journey.
Greater Commercial Lending (GCL), a company that provides government-guaranteed loans to businesses and organizations in underserved and rural communities, has completed its second $25 million loan for the Aemetis Biogas Central Dairy Digester Project. The first $25 million loan was completed in October 2022.
I started collecting information for this post shortly after I completed my last post on this Subject in March. In mid-April I found one, or actually decided to continue with one that I started at the beginning of 2022. However the one thing that I didn’t have is a main theme. Electric Vehicle (EV) Market.
The podcast The Disconnect has begun Season Three, about the role of gas producers and pipelines in the Big Freeze of 2022., Mose has done a great job making the complex Texas grid understandable and calling out those responsible for the 2022 blackout. The first two episodes are out, and you can listen here.
(World Oil) –INEOS Energy has completed its acquisition of the U.S. mtpa LNG deal completed with Sempra in December 2022 and the acquisition of Chesapeake Energys oil and gas assets in South Texas in May 2023. Gulf business held by CNOOC Energy Holdings U.S.A. subsidiary of CNOOC International Ltd.
Greece has been looking to boost its domestic energy supply by installing renewables and boosting offshore gas exploration after the energy crisis of 2022 and the halt of Russian pipeline gas supply to most EU countries. By Tsvetana Paraskova for Oilprice.com
natural gas-directed rigs decreased 32 percent between December 2022 and December 2024. The decline coincides with record-low natural gas prices for most of 2024 and the wider adoption of advanced drilling and completion technologies. per million British thermal units in 2022, it fell 62 percent in 2023 ($4.31 After the U.S.
Houston, Texas, USA – March 2, 2022: ConocoPhillips World Headquarters in Houston. billion of Marathons debt as part of the acquisition, has already disposed of assets worth more than $1 billion since it completed the Marathon deal in November. billion takeover of Marathon Oil last year, people familiar with the matter said.
The dominant North American oil field services provider told investors Tuesday on a conference call that tariffs will have an impact of 2 to 3 cents per share during the second quarter, with 60% of the hit affecting its completions-and-production unit, which houses the fracing business. at 11:54 a.m. in New York.
The ISO standard replaces the previous PAS 2060 accreditation scheme that PEL was awarded in 2022. PEL said: We are extremely proud to have completed this programme The standard provides a rigorous, transparent framework for measuring, reducing and offsetting carbon emissions.
Take Winter Storm Elliott as one example; In December 2022, the storm brought blizzards, high winds, and record cold to much of the northern U.S. Once complete, this pipeline will transport natural gas from production fields in Pennsylvania to a major regional hub in Albany, NY. The impacts were particularly hard felt in New York.
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