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Energy Information Administration, the share of the nation’s crudeoil and petroleum imports from OPEC countries has declined 77 percent since 2006. EIA said total crudeoil and petroleum imports from Canada to U.S. EIA said total crudeoil and petroleum imports from Canada to U.S. The post U.S.
The Wink to Webster Pipeline, operated by ExxonMobil, stands out as the largest crudeoil pipeline by capacity exiting the prolific Permian Basin in West Texas.
The US crude stocks, a key statistic that determines the price of crudeoil in the world, have been steadily rising since June, despite the nation being in the peak summer driving season, from April to September. Despite the threats from the US, Russian oil supply, meanwhile, has been steadily adding over 7.3
Some of the world’s most prominent families and business magnates – including the Nobel brothers and Rothschilds – invested heavily in Baku’s oil fields. Pipelines, refineries, and export terminals followed, creating a full-scale oil ecosystem.
Among the 19 specific industry sectors TIPRO uses to define the Texas oil and natural gas industry, Support Activities for Oil and Gas Operations led in the ranking for unique job listings in May with 1,972 postings, followed by Gasoline Stations with Convenience Stores (1,447) and Petroleum Refineries (824).
Newsom’s 2023 law to penalize oil companies for excess profits, a policy that has not yet been implemented. average, and two announced refinery closures threaten over 17% of the state’s total refining capacity. This downturn was highlighted by national benchmark West Texas Intermediate crude ending Friday at $65.52
Block 15-1, an oil and gas block with one of the country’s largest reserves and one of the earliest to be developed, is located in the Cuu Long basin in the southern mainland of Vietnam and includes the Black Lion, Golden Lion, Brown Lion and White Lion oil and gas fields, according to the release.
As 2025 enters its second half, ExxonMobil stands at a critical juncture—leveraging its scale, technology, and capital discipline to drive upstream growth, especially in the Permian Basin. Optimize Infrastructure Utilization The Wink to Webster crudeoil pipeline—operated by ExxonMobil—continues running near full capacity (~1.35
Today, Occidental’s transformation is undeniable: Domestic oil production grew from 650,000 barrels per day (bpd) in 2015 to over 1.4 The company holds over 1 million net acres in the Permian Basin , the most productive shale play in North America. crudeoil production hit 13.2 the world’s top oil producer.
The Wink to Webster Pipeline , operated by ExxonMobil , is one of the most critical crudeoil transportation systems in North America, linking the prolific Permian Basin to key Gulf Coast refining and export hubs. Spanning over 640 miles with a 1.5 Spanning over 640 miles with a 1.5 midstream infrastructure.
Theres a lot to like about the Uinta Basins waxy crude, but ramping up its production and use in refinery feedstock slates will require multimillion-dollar investments in rail terminals, special rail cars, heated storage, refinery equipment and other midstream and downstream infrastructure.
Crudeoil exports by Pemex, Mexicos state-owned petroleum company managed and operated by the Mexican government, fell 44 percent in January 2025 compared to the same month last year to 532,404 barrels per day. Thats its lowest in decades, according to Reuters , as the company has admitted it is struggling with crude quality.
That limits the need for refinery capacity, which matches the regions average annual consumption and is only outstripped in the summer months. Yet, the Shale Revolution has impacted the Rockies as much as any other region, boosting production in the Denver-Julesburg (DJ) and Uinta basins, and the Montana portion of the Bakken.
What is oil and gas upstream midstream downstream? Upstream involves locating, surveying, drilling, and extracting crudeoil and natural gas from underground reservoirs. Midstream activities involve the transportation, storage, and wholesale marketing of oil and gas. This includes both onshore and offshore activities.
AI models analyze real-time data from drilling sites, pipelines, and refineries, adjusting operations to optimize production and efficiency. AI-powered systems can fine-tune extraction techniques, monitor pipeline integrity, and adjust refinery processes to maximize output while reducing the risk of inefficiencies.
Now, as we step into 2025 , the industry faces critical questions : Which basins will see the most growth? oil & gas basins , the leading companies , and market trends using the latest data and forecasts. 2025 Forecast Projected CrudeOil Output: 6.6 The Permian Basin remains the top destination for U.S.
This “Wellhead to Water” strategy is particularly evident in the Permian Basin, where crudeoil, natural gas, and natural gas liquids (NGLs) production is growing rapidly. Pipeline Transportation Crudeoil, natural gas, and NGLs move from production sites to storage and processing facilities.
Read more 25% royalty rate cap on prime oil and gas land heads to the House Summary : The New Mexico Senate passed Senate Bill 23 in a 21-15 vote, advancing legislation to raise the maximum royalty rate on prime oil and gas land in the Permian Basin from 20% to 25%. crudeoil inventories increase by 4.6
Production grew fast, and today, Nigeria pumps close to 2 million BPD, which makes it the largest producer of crudeoil in Africa. Nigeria joined OPEC in 1971 before it even had its own state oil company. The government has been fighting the illicit refineries for years. on frontier and inland basin projects.
These costs range from about $26/barrel in the Eagle Ford area of South Texas, through about $33 to $35/barrel for the Permian Basin, and up to $42 to $45/barrel in other basins including non-shale production. These are the oil prices needed to pay operating costs for existing production.
Energy Independence on the Horizon During his first term, Trump championed policies that helped the United States achieve energy independence while becoming a net-exporter of crudeoil. crudeoil production became number one in the world , surpassing Saudi Arabia and Russia. In 2018, U.S.
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