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(World Oil) – bp today announced an oil and gas discovery at the Bumerangue prospect in the deepwater offshore Brazil. bp drilled exploration well 1-BP-13-SPS at the Bumerangue block, located in the Santos Basin, 404 km (218 nautical miles) from Rio de Janeiro, in a water depth of 2,372 m.
(World Oil) – ExxonMobil Guyana started production today at Yellowtail, the fourth oil development in Guyana’s offshore Stabroek block. Yellowtail’s ahead-of-schedule startup is a significant milestone for ExxonMobil and the people of Guyana,” said Dan Ammann, president of ExxonMobil Upstream Company.
(Oil Price) – Despite the slide in oil prices in the second quarter, ExxonMobil ( NYSE: XOM ) reported on Friday earnings that exceeded analyst estimates on the back of increased oil and gas production in the U.S. Exxon’s second-quarter net production was 4.6 Exxon’s upstream earnings at $5.4
Exxon Mobil and Chevron’s bumper oil and gas output in the second quarter served as a sobering reminder to their European rivals of the ferocious challenge the latter face in their attempts to close the production gap that has expanded in recent years. Smaller rival Chevron also posted its highest-ever quarterly production of 3.4
Skip to content Oil & Gas Exploration & Production (E&P) CrudeOil Natural Gas LNG Coal Refined Products Offshore Midstream Regulatory Transportation Commodities Oilfield Services Hydraulic Fracturing Drilling Water Regions Canada Mexico United States Asia & Australia Europe Africa South America Middle East Russia Finance Mergers, (..)
Bureau of Labor Statistics (BLS), the Texas Independent Producers and Royalty Owners Association (TIPRO) has highlighted new employment figures showing an increase in upstream employment in Texas in the month of May. In May, Texas energy producers paid $411 million in oilproduction taxes, according to the Texas comptroller’s office.
According to data collected by the US Department of the Interior’s Office of Natural Resources Revenue, onshore crudeoilproduction from federal lands reached 1.7 Most of this growth was in New Mexico from crudeoil produced from federal lands in the Permian Basin. million bpd in 2024, a record high.
in Mechanical Engineering from the University of Alberta and has held previously roles at Sanjel Corporation, Zodiac Exploration, and Pinnacle Technologies, specializing in hydraulic fracturing in unconventional reservoirs. At Liberty, he focuses on technology innovation, service quality, efficiency, and optimization. Ron holds a B.Sc.
(Oil & Gas 360) – Register for EnerCom Denver – The Energy Investment Conference, August 17-20, 2025 , featuring a broad group of public and private energy companies at www.enercomdenver.com at The Westin Denver Downtown. Sponsorship opportunities are available by contacting Blanca Andrus at bandrus@enercominc.com.
The project adds 20 000 boe/d of gross peak annualised average production at the existing Argos platform. Argos, which began production in 2023, is bp’s fifth operated production platform in the Gulf of Mexico with a gross production capacity of up to 140 000 bpd.
The presenting company lineup as of August 5, 2025, includes: Advantage Energy (TSX: AAV) Amplify Energy (NYSE: AMPY) Anschutz Exploration APA Corp. Oil & Gas 360 Capital Markets Closing Bell Story Commodities CrudeOil EnerCom Denver Featured Press Releases Capital markets EnerComDenver energy oil and gas U.S.
But the explorers have also hit dry wells, prompting them to write off drilling costs as they learned more about the fields. Namibia is targeting first oil output in the next five years, as it seeks to become a producer before crude demand is overtaken by low-carbon and renewable sources of energy.
An Independent Expert Report completed by Cawley Gillespie & Associates in June 2024 estimates the primary target to contain a 2C Contingent Resource of 282 million barrels of ANS Crude (oil, condensate & NGLs) and 804 billion ft3 of natural gas. Already a member?
upstreamoil and gas sector, analytics firm Enverus said on Wednesday. The slump in dealmaking follows a series of blockbuster takeovers by oil and gas majors in recent years, which culminated in a record $192 billion worth of deals done in 2023. crude futures hit a low of $57.13 upstream volatility
(World Oil) – Libyas oil and gas sector is set for a new era of growth and investment following the announcement of its first exploration bid round in 17 years. Momentum is already building across Libyas energy industry, with several upstream developments demonstrating the countrys renewed focus growth and investment.
bp drilled the exploration well in Green Canyon Block 584, located in western Green Canyon approximately 120 miles off the coast of Louisiana in 4,092 feet of water. bp expects to grow its global upstreamproduction to 2.3 million barrels of oil equivalent in 2030, with the capacity to increase production out to 2035.
Upstream Midstream Downstream are terms commonly used in the oil and gas industry to describe different stages of the production and distribution process. Each sector has distinct activities and focuses on specific aspects of the overall oil and gas supply chain. What is oil and gas upstream midstream downstream?
(World Oil) – Africas national oil companies (NOC) are moving beyond operating as state-representatives by transforming themselves into competitive upstream players. Boosting production Major oil producers in Africa are striving to boost production and NOC-IOC collaboration is at the forefront.
Moreover, the meeting followed up on natural gas and crudeoilproduction rates, as well as production and exploration plans in the Mediterranean Sea. The post Madbouly, Badawi Review Upstream Activities, Mining Development, Investment Plans for Coming Period first appeared on Egypt Oil & Gas.
The contract between North Oil Company (NOC), North Gas Company (NGC) and bp includes the rehabilitation and redevelopment of the fields, spanning oil, gas, power and water with potential for investment in exploration. The final agreement was signed in a meeting in Baghdad with Iraq Prime Minister H.E.
The seminar covers the basics: geology, petroleum engineering, differences between conventional and unconventional plays, the basics of shale and offshore drilling, the economics of oil and gas exploration and production, geologic storage of CO 2 , and reserves estimations. About NSAI Netherland, Sewell & Associates, Inc.
The seminar covers the basics: geology, petroleum engineering, differences between conventional and unconventional plays, the basics of shale and offshore drilling, the economics of oil and gas exploration and production, geologic storage of CO 2 , and reserves estimations. About NSAI Netherland, Sewell & Associates, Inc.
Hess Corp has transferred value from its upstream assets to its midstream assets rather than operate with the best interests of non-operating working interest owners in mind, said the lawsuit filed in a federal court in Houston. Continental Resources said it does not comment on pending litigation.
(Oil Price) –First-quarter earnings at ExxonMobil ( NYSE: XOM ) topped analyst estimates as higher production in the Permian and offshore Guyana offset part of the lower realizations due to falling oil prices. Upstream earnings increased by $1.1 Upstream earnings increased by $1.1
Due to the decline in oil prices and signals from the U.S. shale production for the second month in row. On Wednesday, OPEC also cut its forecast of liquids supply from OPEC+s rivals including the United States, due to lower upstream spending amid falling oil prices.
For investors, this sector offers diverse opportunities, ranging from upstreamexploration to downstream refining and distribution. Upstream Investments; Exploration and Production (E&P): The upstream sector involves the search for oil and gas reservoirs and the extraction of these resources.
Oil reserves Analysts have questions over Shells long-term oil resources, particularly how little output growth the company has locked in beyond 2030. In the upstream, the key question mark is the liquids portfolio, RBC Europe Ltd.s Biraj Borkhataria said in a note.
It covers the basics: geology, petroleum engineering knowledge, differences between conventional and unconventional plays, the basics of shale and offshore drilling, the economics of oil and gas exploration and production, geologic storage of CO 2 , and reserves calculations.
The presenting company lineup as of June 18, 2025, includes: Advantage Energy (TSX: AAV) Amplify Energy (NYSE: AMPY) Anschutz Exploration Armstrong Oil & Gas APA Corp. Sponsorship opportunities are available by contacting Blanca Andrus at bandrus@enercominc.com.
Chevron Corporation, one of the worlds leading integrated energy companies, has announced the start of oil and natural gas production from the Ballymore subsea tieback project, located in the deepwater Gulf of America. This reduces our development costs and is expected to drive higher returns for shareholders.
In the oil and gas industry, the process of separating water and other impurities from crudeoil and natural gas is crucial for efficient and safe production. One of the most common methods used to achieve this is through the use of free water knockouts.
Once considered a mature and declining conventional oil play at the start of the 21st century, the Permian has grown into a global energy giant, second only to Saudi Arabia in crudeoil and condensate production. In 2025, crude and condensate output is projected to rise by 200,000 barrels per day (b/d), reaching 6.6
Over the past two years, 2023 and 2024, production levels have soared, investment strategies have shifted, and new regulatory frameworks have emerged. How will new policies impact production and investment strategies? 2023 Production: ~6.0 2024 Production: 6.3 MMBbl/d production increase in 2024. MMBbl/d , a 0.3
Natural Gas Liquids (NGLs), including ethane, propane, butanes, and natural gasoline, are vital to numerous aspects of modern life, serving as essential fuels and feedstocks for a vast array of products, from plastics to clean-burning energy sources. Let’s explore your tailored, cost-effective NGL separation solutions together!
If they cannot, firms might instead reduce purchases, replace imported products with something similar, or ramp up domestic production. Major products like laptops, smartphones, and toys are harder to rearrange. Shifts across many thousands of products will reshape the geometry of global trade. Granularity is key.
Bloomberg reported the Raymond James figures, noting projects such as the giant Tengiz field in the Kazakh section of the Caspian Seaone of the largest oil discoveries in modern timesand the Bacalhau field in Brazil, which has an estimated potential of 1 billion barrels of oil equivalent. million barrels daily.
In the report, OPEC said it expected investment in exploration and production outside OPEC+ in 2025 to decline by about 5% year-on-year. While the United States is still expected to drive supply growth, OPEC expects total oil output to rise by about 300,000 bpd this year. Last month, it forecast growth of 400,000 bpd.
In the report, OPEC said it expected investment in exploration and production outside OPEC+ in 2025 to decline by about 5% year-on-year. In 2024, investment rose by about $3 billion year-on-year to reach $299 billion, OPEC said.
Despite the headwinds, Auchincloss highlighted BPs highest upstream operating efficiency in the history of the business, which included the best refinery availability in more than 20 years. For example, rig count is down 10% in the United States. That impacts supply, so were just cautiously moving forward.
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