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The company suspended activities this week to prevent further damage to critical infrastructure as erosion along the Coca River continues to threaten oil transport lines and the Coca Codo Sinclair hydroelectric plant, Ecuador’s largest. The suspension has already cut Ecuador’s crude output by an estimated 133,000 barrels…
entered the war between Iran and Israel, said industry watchers, predicting oil at $100 a barrel if the Strait of Hormuz is closed. entered the war between Iran and Israel, said industry watchers, predicting oil at $100 a barrel if the Strait of Hormuz is closed. per barrel, while global benchmark Brent was up nearly 2% at $78.53
million barrels per day of voluntary production cuts, which are separate from the wider OPEC+ strategy. Anadolu | Anadolu | Getty Images Eight oil-producing nations of the OPEC+ alliance agreed on Saturday to increase their collective crude production by 548,000 barrels per day, as they continue to unwind a set of voluntary supply cuts.
India moved on Thursday to deny entry to a Tanzanian-flagged tanker carrying Russian crude, signaling that New Delhi is ramping up scrutiny of vessels transporting oil from Russia, Reuters reported exclusively.
Image by Yarphoto via iStock The world’s biggest oil product market is hungry for barrels as traders grapple with a summer supply squeeze. The shortage is driving up prices for diesel, used in everything from construction to transport to heating. Last month, diesel accounted for just 31.4%
The maiden cargo transported crude from the Otakikpo marginal field – located in Rivers State and operated by GEIL – to the terminal, kickstarting a new era of efficient crude distribution in Nigeria. The terminal itself boasts a storage capacity of 750,000 barrels.
Cheaper gasoline meant more disposable income for consumers, lower transportation costs for businesses, and a boost to sectors that rely on oil as an input. million barrels of oil and finished products per day. But in 2025, that simplistic view no longer holds up. The economic equation has changeddramatically.
The potential deal with the multinational company, which Alberta didnt name, would be a first-of-its-kind transaction that would see the overseas transport and sale of about 2 million barrels per month of Government of Alberta owned heavy oil via the Alberta Petroleum Marketing Commission (APMC).
per barrel, with West Texas Intermediate at $67.70 per barrel, both up on opening and likely to go higher later in the day, barring bearish news such as the Houthis agreeing to stop bombing ships in the Red Sea. The attacks on ships have cost the maritime transport industry
(Oil Price) – As if WTI oil prices in the low $60s per barrel aren’t enough to slow production growth at America’s top producing shale basin, the Permian, new guidelines for permitting saltwater disposal wells could raise the costs for operators, especially smaller producers with limited resources.
Targeted Strikes Rattle Oil Markets Recent attacks on Iranian energy facilities caused a spike in oil prices, with Brent crude rising about $10 per barrel in the past month. Current market conditions suggest oil should be trading in the high $70s to low $80s per barrel based strictly on current OECD crude and product stock levels.
The preliminary reported total volume of crude oil in Texas in March was 121,361,548 barrels, according to the statement, which showed that the preliminary reported total volume of natural gas in the state during the same month was 918.4 The preliminary reported total volume was 120,766,747 barrels, the statement highlighted.
Caspian Pipeline Consortium (CPC) blend oil exports have been capped at 1 million barrels per day, taking 700,000 bpd off the market, after Russia ordered the shutdown of two out of three moorings at the CPC main Black Sea oil export terminal. The order went into force on April 1.
a midstream company focused on natural gas processing, fractionation, storage, transportation and marketing, says it is utilizing Topsoe’s H2bridge technology to produce approximately 3,000 barrels per day of renewable diesel from its proposed renewable diesel facility. Tidewater Midstream and Infrastructure Ltd.,
(Investing) – Brent crude oil prices could hit $110 a barrel if the Strait of Hormuz is blocked, Goldman Sachs analysts have forecast, while HSBC analysts see prices topping above $80. Prices for Brent could average around $95 in the fourth quarter of 2025, Goldman Sachs said in a note dated June 22.
million barrels per day, or 62% of the 2.2 Known commonly as VLCCs, these tanker ships are designed to transport crude oil. Since April, the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+, has either made or announced output upticks totalling some 1.37
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
Top qualifications for unique job postings included valid driver’s license (1,613), CDL class a license (244) and transportation worker identification credential (TWIC) (137). million barrels per day in the second quarter of 2025. Additionally, TIPRO points to recent data from the U.S.
The Front Eagle was loaded with 2 million barrels of Iraqi crude oil and was en route to Zhoushan in China, according to monitoring service TankerTrackers.com. Frontline later told Reuters the incident would be investigated, but there was no suggestion of outside interference.
per barrel, with West Texas Intermediate at $67.70 per barrel, both up on opening and likely to go higher later in the day, barring bearish news such as the Houthis agreeing to stop bombing ships in the Red Sea. At the time of writing, Brent crude was trading at $71.10
Enbridge operates the Mainline system, moving more than 3 million barrels a day of crude oil and liquids from Western Canada to the demand markets in the United States. million barrels per day, illustrating its critical role in the transportation of oil to key demand centers, the company said. billion (C$2.2
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
The Ballymore development is designed to produce up to 75,000 gross barrels of oil per day from three production wells, all connected via a subsea tieback to Chevrons existing Blind Faith facility, located approximately three miles from the well site. This reduces our development costs and is expected to drive higher returns for shareholders.
The platform includes: Fractionation capacity : ~193,000 barrels/day (post-Fort Saskatchewan expansion), including field, hub, and straddle facilities Straddle gas processing : 5.7 TSX: KEY) is a leading Canadian-based energy infrastructure company headquartered in Calgary, Alberta.
Energy demand is set to rise from 308mn barrels of oil equivalent (mboe/d) in 2024 to 378 mboe/d in 2050. Energy will need to be available in a “secure, stable and realistic manner” according to OPEC Secretary General, HE Haitham Al Ghais. HE Al Ghais also highlighted that the world will continue to need all energies. “It
The entire cluster forms an integrated system in Vietnam covering production, processing, and transportation, with a central processing platform, floating production, storage, and offloading (FPSO) platforms, wellhead platforms, and a pipeline system, the company said.
Its the most expensive NGL, accounting for more than 25% of the value of a weighted average barrel. It is the only NGL that does not require storage or transportation under pressure.
million barrels per day, accounting for about 20% of global petroleum liquids consumption, according to the U.S. Skip Navigation Markets Pre-Markets 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
Texas produced 2.003 billion barrels of crude oil in 2024 a record volume, according to Railroad Commission of Texas, and the first time for the state to top 2 billion barrels in one year. The commission said March 26 that Texas produced 2,003,844,281 barrels of oil to better the recent records of 1.99 billion barrels in 2019.
million net acres and more than 2 billion barrels of oil equivalent (Boe) in undeveloped resources. The condensate produced is used in refineries, petrochemical plants, or as diluent, and requires stabilization before transport — usually handled at facilities operated by MPLX (Cadiz), Williams (Scio), or Ergon Inc.
Based on the well tests carried out prior to March 2025, the well is currently proven to be capable of producing 1,200 bpd, which is transported by truck to the Danube Refinery in Szzhalombatta. thousand barrels of oil equivalent per day (boed). This new discovery will also help meet the country’s energy needs.
The CEO of the Fuel Consumption Optimization Company Hossein Hosseinzadeh announced plans to reduce energy consumption in three sectors: industry, transportation, and construction., aiming to save 1.285 million barrels of crude oil equivalent (mmboe) by the end of the seventh development program (2028).
Key Features and Capabilities Storage Capacity : The terminal’s capacity was expanded from 20,000 barrels per day (bpd) to 40,000 bpd. This expansion included the construction of three 5,000-barrel API 650 steel oil tanks, a 1,000-barrel slop oil tank, and a 750-barrel fiberglass water tank.
Production in the state surpassed 2 million barrels per day in 2024 more than double that of 2019 (about 0.9 It also benefits from a generally favorable regulatory environment, proximity to the refining and chemical complex on the Gulf Coast, and access to pipelines for transport. 2 in oil production in the U.S. million b/d).
BANGL transports up to 250,000 barrels per day of natural gas liquids from Permian Basin in west Texas to fractionation markets on the Gulf Coast. It currently is being expanded to 300,000 b/d by second half 2026.
Ballymore, the latest in a series of Chevron projects to start up in the past year, represents another step towards the companys goal to produce 300,000 net barrels per day of oil equivalent from the Gulf in 2026. Malo facilities. About Chevron Chevron is one of the worlds leading integrated energy companies.
About Valero Valero Energy Corporation, through its subsidiaries (collectively, Valero), is a multinational manufacturer and marketer of petroleum-based and low-carbon liquid transportation fuels and petrochemical products, and sells its products primarily in the United States (U.S.), million barrels per day. Ireland and Latin America.
million metric tons, or 67,000 barrels per day (bpd), of mixed bitumen from Brazil between July 2024 and March 2025, worth $1.2 million barrels of Venezuelan Merey 16 crude for Hangzhou Energy in February under the name Katelyn, according to one of the documents and TankerTrackers.com. This practice is known as spoofing.
Pipeline transportation volumes rose 6 percent to 13.2 million barrels per day of NGLs, crude oil, refined products and petrochemicals. Total fee-based natural gas processing volumes increased 12 percent or 760 million cfd to a record 7.2 billion cfd in the first quarter compared to 2024Q1. million boed, including 7.9
Encinos acreage improves the quality and depth of our Utica position, expanding EOGs multi-basin portfolio to more than 12 billion barrels of oil equivalent net resource. Pro forma production totals 275,000 barrels of oil equivalent per day creating a leading producer in the Utica shale play.
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. The cost for pre-treating, transporting, and storing PW has gone down due to the emergence of the midstream water industry.
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.
million barrels, according to Finance Minister Ken Ofori-Atta. million barrels, the TEN field produced 5.02 million barrels, and the Sankofa-Gye Nyame field yielded 8.46 million barrels. million barrels produced in the same period in 2022. million barrels on behalf of the state. However, this marked a 9.54
crude oil inventories grew by 545,000 barrels last week to reach 430.3 million barrels , defying analyst forecasts of an 800,000-barrel decline. million barrels to 389.2 million barrels, while stockpiles at Cushing, Oklahomathe key Nymex delivery hubfell by 140,000 barrels to 25.1 million barrels.
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