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Crude oil prices could rise by between 15% and 20% from pre-war levels in case of disruption of 1.1 million barrels daily in production, Citi analysts have said, putting Brent crude’s wartime price at between $75 and $78 per barrel. Citi, however, does not believe supply disruption would have…
JP Morgan is sticking to its base-case oil price forecast for 2025, projecting Brent crude will trade in the low-to-mid $60s, despite a sharp escalation in geopolitical tensions involving Iran, the U.S., and potentially Israel. Markets are already partially pricing…
Geopolitics could move Brent crude higher by around $10 per barrel, Goldman Sachs has estimated, from a starting point in the mid-$70s. However, the bank admitted oil could top $90 in case of Iranian supply disruption.
Brent crude could rise all the way to $100 and more, peaking at $110 per barrel in case Iran closes the Strait of Hormuz, Goldman Sachs said in a new note. The investment bank said this price could materialize if oil flows via the vital chokepoint were cut by half for a month and remained 10% lower than normal over the next 11 months.
The dispute between the two concerns the latter’s stake in the Stabroek Block in Guyana, which has yielded a string of oil discoveries since the start of exploration, giving Exxon and Hess—along with their partner CNOOC—access to over 11 billion barrels in recoverable crude. Exxon holds…
per barrel, with West Texas Intermediate at $67.41 per barrel, after on Wednesday Iran’s defense minister threatened strikes on U.S. bases in the region in case the nuclear talks with Washington failed. The drop was driven by profit-taking, but bullish sentiment remains. At the time of writing, Brent crude was trading at $68.95
Shale boss Bryan Sheffield, the son of Pioneer Natural Resources founder Scott Sheffield, appears to have called on Americas shale drillers to cut drilling immediately, as Brent crude flirts with prices below $60 and WTI falls to $57/barrel.
(Investing) – Israel’s attack on Iran is unlikely to cause a major disruption to oil supply, analysts at two major banks said, but a worst-case scenario involving blockades in the Strait of Hormuz could push prices above $100 per barrel, Goldman Sachs said. per barrel. [O/R]
Goldman Sachs commodity analysts cut the banks price outlook for crude oil, basing the revision on expectations of slower U.S. economic growth and additional OPEC+ supply.
Ukraine is urging the G7 to slash the price cap on Russian oil to $30 per barrel, down from the current $60, in a bid to tighten the financial screws on the Kremlin as its war drags into a third year.
Guyanas Stabroek block has an estimated 11 billion barrels of oil in place discovered so far by the consortium of ExxonMobil, U.S. The high-volume, low-cost development offshore the South American country, which started production just five years ago, is already pumping more than 660,000 barrels per day (bpd) of crude. supermajor.
Since the start of hostilities on June 13, the Oilholic has always maintained that if there was a swift end to the conflict - as has been the case - price will fall rapidly again. And so much so for the outlandish claims that Iran may shut the Strait of Hormuz, which was never going to happen as yours truly noted in a column for Forbes.
Following the rise in Brent prices to $76-77 per barrel, Goldman Sachs estimates a geopolitical risk premium of around $10 per barrel, the bank said in a note on Wednesday.
“We expect ministers will continue the unwinding of the November 2023 tranche of cuts, increasing targets by 411,000 barrels per day for the fourth successive month,” the analysts said in the report. million barrels per day,” they added. million barrels per day in the third quarter of this year and a 0.2
Vaca Muerta has hit production of over 400,000 barrels per day of oil and some 70 million cubic meters of gas per day. billion to Eton Park in the same case, which Argentina is also appealing. YPF leads development of Vaca Muerta, often partnering with other local and international firms including Shell and Chevron (NYSE: CVX ).
refiner stems from an eight-year-old case that Canadian miner Crystallex initiated in Delaware against Venezuela. The judge and parties in the case are expected to attend a final hearing about the sale process on August 18. They can also continue parallel cases in other U.S. (Investing.com) – HOUSTON -A U.S. 3rd party Ad.
billion barrels of oil and gas could still be produced from UK waters – 3.2 The government’s independent advisers, the Climate Change Committee, say in a scenario where the UK meets all its climate targets on time, UK homes and businesses will still use between 13 and 15 billion barrels of oil and gas. These resources include: 0.5
and with the support of others who need the Strait to remain open), it could be an up to three month operation in the worst case,” Morse warned. “You can add another ~500,000 barrels per day if the Iraqi pipeline through Turkey to the Med were re-opened. “Would it be $120 or $130 initially?
The case arose from a disagreement between Cactus Water Services representing surface estate interests and COG Operating, mineral lessee, over ownership of produced water extracted during oil and gas operations on 37,000 acres in Reeves County.
flagged the possibility of higher oil and gas prices after the US struck Iran, even as the bank’s base-case outlook hinges on major disruptions to supplies from the region. million barrels a day, Brent would peak at $90. million barrels a day, Brent would peak at $90. Image by beast01 via iStock Goldman Sachs Group Inc.
OPEC+ is set to start adding supply to the market in April, initially at a rate of 138,000 barrels per day (bpd). Earlier this week, Goldman Sachs cut its year-end forecast for Brent Crude prices, citing expectations of slower U.S. economic growth and additional OPEC+ supply.
This is all the more important when operators have to meet tight deadlines and often with lower budgets and every additional barrel counts. The post J+S Subsea case study – Supply Chain Report 2025 appeared first on Offshore Energies UK (OEUK).
This is all the more important when operators have to meet tight deadlines and often with lower budgets and every additional barrel counts. Read the Full Supply Chain Report 2025 >> The post Supply Chain Report 2025: J+S Subsea case study appeared first on Offshore Energies UK (OEUK).
million barrels daily. Today, the Permian is producing over 6 million barrels daily, accounting for nearly half of the U.S. The consultancy expects output there to add 200,000 barrels daily this year, for a total of 6.6 million barrels daily. million barrels daily in 2035. To be sure, the boom days seem to be over.
The Cypre development is the second major project to start up in two months, during which the UK-based supermajor sought to convince shareholders its investment case is now stronger with the pivot back to oil and gas. million barrels of oil equivalent per day (boed) in 2030, with capacity to increase to 2035.
COG has drilled 72 horizontal wells, and production from those wells has generated nearly 52 million barrels of produced water. The leases granted lease of only “oil and gas” or “oil, gas and other hydrocarbons.”
The current case of the FSO Safer brings to light a practice that needs to stop. Storing oil in decommissioned tankers has been ongoing for decades. It’s a marketing ploy by oil traders who purchase during periods of low prices and hold onto the oil until demand and prices rise.
million barrels per day, accounting for about 20% of global petroleum liquids consumption, according to the U.S. Anti-ship missiles or drones of both airborne and surface types could be used in these attacks, he said. In 2023, oil flows through the waterway averaged 20.9 Energy Information Administration.
Capable of surviving at sub-$50 per barrel of WTI for longer than U.S. Currently, the Montney shale produces some 2 million barrels of oil equivalent daily. A lot of this is gas, and even more will be gas once LNG Canada begins operation, with the launch scheduled for later this year.
Viper Energy (VNOM) presents a compelling case for investors seeking exposure to the energy sector through a mineral rights business model. Viper SWOT Viper Energy delivers strong operational results, with Q1 2025 oil production of 31,311 barrels per day and industry-leading gross profit margins of 92.92 The upcoming $4.45
million barrels (MMBBL) condensate/natural gas liquids (NGL) net to the company (un-risked). for un-risked case. Full FDP results in capital expenditure from CHPE (2C case) of US$947.9 The resulting seismic-derived facies models provide a significant improvement over all older characterization efforts. BCF natural gas and 53.2
The results also suggest that there may be a substantial increase in our base case recoverable resources which could add tremendous value to the project over time. BCF/1000 feet (‘) of perforated interval) and between 160,000 and 240,000 barrels of condensate, equivalent to a total range of 0.827 to 1.24 net wells).
In India's case, the country's Minister for Petroleum and Natural Gas Hardeep Singh Puri is leading the charge personally. Yours truly had the pleasure of reconnecting with the Minister and interviewing him for Forbes to discuss a host of energy related issues. mmtpa from 2026 for 14 years.
As of today, three wells have been successfully drilled and cased, with the fourth currently being drilled. per barrel WTI and $4.28 per barrel WTI and $4.09 The program includes two-mile lateral wells alternating between the Niobrara A, B, and C Chalks and the Codell Sandstone. per MMBtu Henry Hub. per MMBtu Henry Hub.
The Investor may elect to participate in opportunities at its discretion, on a case-by-case basis, after conducting its own financial and technical verification. million barrels of oil equivalent (“mmboe”), 2C resources of 34 mmboe and 2U resources 270 mmboe.
In a separate agreement , WesternZagros secured rights to the Topkhana block , which, combined with their existing Kurdamir block , reportedly holds a resource potential of up to 5 trillion standard cubic feet of natural gas and 900 million barrels of crude oil. The agreements quickly drew condemnation from Baghdad.
Every year billions of barrels of Produced Water (PW) are generated from oil and gas production around the world. In some mature fields, 10 barrels of water are generated for every barrel of oil produced. As fields age, they generate higher water to oil ratios.
DP -Drill pipe HWDP – Heavy weight drill pipe DC – Drill collar BOP – Blow out preventer TDS – Top drive system WOB -Weight on bit ROP – Rate of penetration GPM – Gallon per minutes SPP – stand pipe pressure VFD Variable frequency drive SCR -Silicon controlled rectifier AC -Alternating current DC – direct (..)
The case relates to a 2006 oil spill which occurred at CITGO’s Lake Charles, Louisiana, refinery. This opinion from the Fifth Circuit is likely to have wide-ranging effects on CWA penalty cases. The CITGO case may continue to provide insight as it progresses on remand and any subsequent appeals. CITGO Petroleum Corp.,
million barrels per day (mmbl/d) of liquids production to 2030 with increasingly lower carbon intensity. Shell will continue to deliver more value with less emissions, growing in areas where we have competitive strengths, and providing a compelling investment case for our shareholders, now, and into the future.
“Around 15 million barrels per day, or nearly a third of global seaborne crude oil exports, transit through the strait. “In the weeks leading up to the war, Israel and Iran exchanged missile salvos as the conflict continued to escalate, culminating in the U.S.
Anything to the contrary herein notwithstanding, it is expressly provided that the terms of this paragraph shall be controlling over the provisions of Paragraph 3 of this lease to the contrary and this paragraph shall not be treated as surplusage despite the holding in the cases styled “Heritage Resources, Inc. NationsBank”, 939 S.W.2d
Enform works by hydroforming existing casing into an overshot protector. This lets Oil States technicians connect a new upper casing or wellhead to a stump of cut-out casing below the surface, to make a seal equivalent to the original premium casing connections in axial load and pressure sealing ratings.
For every barrel of oil extracted in the Permian Basin, one report estimates that operators typically generate between 4-10 barrels of produced water—resulting in an estimated 3.9 billion barrels of produced water annually in Texas alone. In essence, 85.321 looks to other laws to define what is prohibited.
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