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Oil production from Canada’s oil heartland, Alberta, slumped to a two-year low in May as wildfires in the province and maintenance on some oil sands operations dragged oil output to a two-year low. million barrels per day (bpd) of crude oil in May, according to provincial data cited by Bloomberg. Alberta produced on average 3.61
Crude oil deliveries to the strategic petroleum reserve will be delayed by seven months due to maintenance, the Department of Energy has said. million barrels into the SPR in the first five months of this year but since January, only 8.8 million barrels have been pumped into the reserve, Reuters noted in a report on the news.
Russia is set to raise the shipments of the ESPO Blend crude from its Far East port of Kozmino in July, after lower exports this month due to maintenance, trading sources told Reuters on Wednesday. ESPO loadings from Kozmino are expected at 4 million tons, or about 970,000 barrels per day (bpd) in July, up from 3.6
Spring maintenance at some large state-controlled refineries in the worlds top crude oil importer is the key reason for the low volumes that Saudi Arabia has allocated for April. These amount to about 34 million barrels, down from 41 million barrels allocated for March, according to Reuters data.
Image by Yarphoto via iStock The world’s biggest oil product market is hungry for barrels as traders grapple with a summer supply squeeze. ” Diesel markets spiked last month when the fighting between Israel and Iran threatened millions of barrels of fuel exports from the Persian Gulf.
sanctions and refinery maintenance, Bloomberg has reported, citing data from Vortexa. million barrels of crude to China daily, which was 20% lower than export flows in May 2024. Crude oil exports from Iran to its biggest buyer, China, shrank last month on tighter U.S. Per that data, Iran shipped a little over 1.1
crude oil stockpiles rose and fuel inventories fell last week as seasonal refinery maintenance season ticked along, the Energy Information Administration (EIA) said on Wednesday. million barrels to 435.2 Crude inventories rose by 1.4
Asias imports of refined petroleum products plunged in April to the lowest level since 2020, due to higher spring refinery maintenance at key fuel exporters in the region and softer demand for gasoline and diesel. million barrels in April, down from 195.54 Asias imports of light and middle distillates slumped to 166.37
million barrels daily, down by 0.2% million barrels daily, Reuters reported, citing the companys first-quarter report. million barrels daily, Reuters reported, citing the companys first-quarter report. Petrobras booked a virtually flat crude oil production for the first quarter of the year, at 2.77 on the first quarter of 2024.
A crude unit with a capacity of 200,000 barrels per day (bpd) went offline early on Tuesday. This follows the shutdown of the other 200,000 bpd crude unit in early May for planned maintenance. BPs refinery in Rotterdam had both its crude units offline on Tuesday morning, Reuters reports, citing energy consultancy Wood Mackenzie.
A substantial drop in the spot market price for Emirati crude has triggered a demand surge from Asia, Reuters reported today, citing data for a record trade of 10 million barrels of Murban crude on an S&P Global Platts market-of-close basis this month.
Top posted industry occupations for May included retail salespersons (355), heavy and tractor-trailer truck drivers (285), and maintenance and repair workers, general (284). The top posted job titles for May included maintenance technicians (118), retail cashiers (77), and sales associates (70).
(BOE Report) – Phillips 66 reported a bigger-than-expected loss in the first quarter on Friday, as lower refining margins amid a widespread maintenance and turnaround activity across the U.S. per barrel during the January-March quarter, from $11.01 a barrel a year earlier. refining sector weighed on its performance.
That compared to an average of 50 cents a barrel a year ago, when record crude production at the top U.S. million barrels in the Permian were cut by the recent cold weather that hit operations, according to estimates from analysts at consultancy Energy Aspects. million barrels last week, its highest level in four months.
Seaborne shipments of refined fuels totaled 2 million barrels a day in the first 20 days in June, according to data compiled by Bloomberg from analytics firm Vortexa Ltd. Crude outflows slid to the lowest since mid-April led by maintenance-related disruptions at a key Pacific port, compounded by a decline from the Baltic.
Cenovus will begin planned maintenance work on multiple units at its 160,000-barrel-per-day refinery in Toledo, Ohio in mid April, a source familiar with plant operations said on Thursday. Roughly a third of the facility will be down for maintenance as early as the second week of April, the source said.
BW Offshore will continue to provide operations and maintenance services under a new five-year reimbursable contract. 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.
Gulf Coast refiners processing Mars crude enjoying a doubling of margins to some $16 per barrel, $7 margins in Singapore for Dubai crude, and a 36% margin jump in Asia for Arab Light crude. Marathon Petroleum posted a Q1 loss, citing weaker-than-expected margins, seasonal maintenance, and unplanned downtime as key drags on performance.
per barrel. Meanwhile, China’s crude imports fell to a four-month low in May as refiners conducted maintenance and economic data showed slowing export growth and deepening deflation. The EIA forecasts Brent crude will average $74 per barrel in 2025, down from $80 in 2024, with average gas prices expected to fall to $3.20
million barrels per day (bbl/d), exceeding its quota within the OPEC+ group of oil producers, as Reuters reported. million bbl/d, which takes into account Kazakhstan’s tons per barrel ratio of 7.5. Kazakhstan has increased in February its crude oil and gas condensate production by 13% to a record of 2.12 from January to 1.83
Cold air tugged the price of West Texas Intermediate (WTI) crude oil up above $80 per barrel mid-January (Figure 1, red line). commercial crude oil inventory declining into January tugged the spot price of WTI crude oil up to $80 per barrel (Figure 1). Tariff fear extended and exaggerated the drop to $60. crude oil inventory.
TXOGA President Todd Staples said in the statement, “in these times of geopolitical uncertainty and military conflict, Texas remains not only a supplier of barrels but a builder of confidence” “It is encouraging to see job growth and for Texas and America to be seen as a stable trading partner.
This development comes on the heels of another report that lingering strikes and protests in the French refining sector and seasonal maintenance at plants elsewhere in Europe cut into the OPEC producers sales. Each cargo is about a million barrels of crude. Well over 80% of Frances 1.1 Long-haul buyers like Indian Oil Corp.
Crude oil was up over $2 per barrel. Furthermore, on September 5, FGT announced maintenance work beginning on September 6, which is expected to last until September 8. The unscheduled maintenance is on the larger of the two units located in Mississippi at Tennessee Carnes Interconnect, upstream of FGT Compressor Station.
The project is expected to achieve a peak production of approximately 11,000 barrels of oil equivalent per day (boe/d) in 2026. Some of the procedures, such as crude oil production, equipment maintenance, and safety management, were upgraded with intelligent technologies, to enhance the efficiency of hydrocarbon development.
ADJUSTED PRODUCTION AND VOLUME FORECASTS Shell also reduced its integrated gas production outlook for the fourth quarter to 880,000 and 920,000 oil-equivalent daily barrels, citing scheduled maintenance at a Qatar-based facility. This represents a decrease from the previous guidance of 900,000 to 960,000 daily barrels.
We have decades of inventory below our $40 per barrel WTI cost of supply threshold this optionality is what separates the inventory haves from the have nots. Kaes Vant Hof Inventory only delivers resilience if its converted into barrels steadily and efficiently. But here’s the catch: Inventory doesnt matter if its not developed.
Lime Rocks CBP operations are located in the Permian Basin in Andrews County, Texas, and are focused on the development of approximately 17,700 net acres where the majority are similar to Rings existing CBP assets in the Shafter Lake area, and the remaining acreage exposes the Company to new active plays.
With oil prices still far below their highs of a few years ago, many energy companies—some of which expanded rapidly when oil was north of $100 a barrel—now find themselves with more office space than they can reasonably use (or even afford). Subleased Premises; Maintenance and Repairs – What Am I Subleasing? And Who Does What?
While the price-per-barrel of oil has recovered since the staggering lows of 2016, its down again from earlier 2019 highs, and may not reach $100/barrel any time soon. IoT-enabled insights are proving useful for predictive maintenance, remote monitoring, and risk mitigation.
200 barrel housed Innopipe installation. Cost Savings Reduced maintenance costs: Fewer equipment breakdowns and repairs lead to significant cost savings. Protection: By preventing large liquid slugs from entering downstream equipment, it protects expensive machinery from damage and ensures continued efficient downstream operations.
Equinor Q1 2025 Performance Total Equity Production: 2,123 mboe/day Equinors total equity production in the first quarter of 2025 was 2,123 thousand barrels of oil equivalent per day (mboe/d). In the first quarter of 2025, BP reported liquids production of 1,086 thousand barrels per day (mb/d), a 2.8% TWh , the same as Q1 2024.
For 2025, we remain focussed on three principal objectives: maintenance of a strong balance sheet; resilient cash generation from the core business; and the addition of new assets. We are delighted to have established a footprint in the Sultanate of Oman, through our award of an interest in Block 54. Production costs (17.6) (18.0) EBITDAX1 1.1
CEO Jon Harris reported strong performance so far this year, with gross average production of approximately 44,900 barrels of oil per day (bopd) supported by steady local demand and optimisation efforts. The company paid a $25 million [approx. billion] interim dividend in April and remains debt-free with $100 million [approx.
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. million barrels of deliveries to the SPR from January through [Read more]
bbl) Gross operating costs per barrel decreased 21% to $4.4/bbl 20 million: Safety and maintenance upgrades at PF-2, scheduled for Q4 2025 and expected to require the shut-in of the facility for c.3 20 million: Safety and maintenance upgrades at PF-2, scheduled for Q4 2025 and expected to require the shut-in of the facility for c.3
a barrel by 1312 GMT while U.S. The data also showed that China’s crude oil imports declined in May to the lowest daily rate in four months as state-owned and independent refiners began planned maintenance. -China trade talks in London in the hope that a deal could boost the global economic outlook and subsequently fuel demand.
million barrels of oil per day (bpd), accounting for roughly 3% of global demand, which are configured to process its domestically produced crude oil. President Donald Trumps tariffs on global economic activity put heavy pressure on oil prices, which dropped to around $65 a barrel from a high of $82 in mid-January.
(Oil & Gas 360) – Over the past few weeks, several headlines regarding the international oil business have surprised market watchers: A note on the news: Break-even oil prices- oil and gas 360 The news that the OPEC+ group decided to increase its production rate in May by 411,000 barrels a day (b/d). Iran exports 1.8 million b/d.
crude oil futures climbed more than $1 a barrel on Tuesday as the White House announced Saudi Arabias plans to invest $600 billion in the United States. a barrel by 1417 GMT. (Investing) –HOUSTON -U.S. Brent crude futures rose 88 cents, or about 1.35%, to $65.84 ” Reduced refining capacity – mostly in the U.S.
Output dropped by almost 100,000 barrels a day from the first quarter, largely reflecting the sale of Shell’s onshore Nigeria subsidiary and planned maintenance. The company had already notified investors of its production expectations.
West Texas Intermediate prices in the low $60-per-barrel range would likely cause U.S. WTIclosedbelow $60 a barrel Tuesday, down about 15% since Trump announced his tariff plan. Heavy Western Canadian Select traded at $10 a barrel less than WTI on Tuesday, according to a person familiar with the prices.
Summary : The IEA reports that global crude supply is exceeding demand by 600,000 bpd, pushing oil prices toward the $60-$80 per barrel range, with U.S. bcfd, negative Waha Hub prices caused by pipeline maintenance, and mild weather forecasts through April. per barrel and Brent crude rising 1% to $71.30 per barrel.
due to seasonal maintenance. Gasoline inventories fell by 1 million barrels, 3% below the five-year average, and refinery utilization rose to 90.2%. With oil production generating up to five barrels of wastewater per barrel of oil, the industry sees treatment as a solution to water shortages but demands legal certainty.
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