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(BOE Report) – The Mexican association that groups major global oil services companies warned that it is going through an “unprecedented crisis” due to the lack of payments from the state-owned oil company Pemex, the world’s most indebted energy company.
Refineries are switching to biofuels or shutting down due to hostile regulationsbut demand for oil products is growing. This could result in either a market imbalance that will make these products more expensive or a geographical imbalance, which those who care about supply security wouldnt like.
Russia has ordered a 90-day halt to one of several berths at the port of Novorossiysk, its key Black Sea oil export route, a day after it ordered the temporary shutdown of two of three moorings at the key export terminal for Kazakhstans oil.
Canadas Alberta province is facing one of its worst early-season wildfire crises in recent memory, with industry officials confirming on Monday that over 50% of the provinces oil production has been forced offline as flames sweep through critical infrastructure zones. The shutdown equates to roughly 1.3
Oil started the week with a gain, after an Iranian missile attack caused damage to the Haifa refinery in Israel over the weekend, prompting a partial shutdown, Israeli media reported, saying the facility remained operational. At the time of writing, Brent crude was trading at $74.83 per barrel, with West Texas Intermediate at $73.77
Libya has resumed production at the Mabruk oilfield after a decade-long shutdown, the Tripoli-based Government of National Unity (GNU) revealed on Wednesday. According to the Chairman of Libyas National Oil Corporation, Masoud Sulaiman, Libya plans to increase its oil output from 1.4 mb/d currently to 2 mb/d in 2028.
The Mexican association that groups major global oil services companies warned that it is going through an “unprecedented crisis” due to the lack of payments from the state-owned oil company Pemex, the world’s most indebted energy company.
Oil is up this morning against a mix of geopolitics and inventory data. Today DEC announce dividend info and Serica state that the Triton FPSO will remain shutdown for longer than expected following storm damage. The post Oil price, DEC, Serica, Angus. appeared first on Malcy's Blog.
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.
Israel’s Oil Refineries said its pipelines and transmission lines in Haifa had been damaged by missile strikes by Iran, according to a regulatory filing to the Tel Aviv Stock Exchange.
This follows the shutdown of the other 200,000 bpd crude unit in early May for planned maintenance. As a result of the shutdowns, the 400,000-bpd oil refinery in Rotterdam now has both crude units offline. A crude unit with a capacity of 200,000 barrels per day (bpd) went offline early on Tuesday.
Image by Redhuan Ramli via iStock EnerMech Limited has secured a three-year contract with Dana Petroleum Limited for Offshore Shutdown Support Services for the Triton floating, production, storage, and offloading (FPSO) vessel. MORE FROM THIS AUTHOR Paul Anderson Writer OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX!
A wildfire in the Canadian province of Alberta prompted the temporary shutdown of some oil and gas production and forced residents of a small town to evacuate. The blaze, which Alberta Wildfire said is approximately 1,600 hectares in size, is burning out of control about 7 km north of the town of Swan Hills in [Read more]
(TSX & NYSE: SOBO) (South Bow or the Company) has shut down the Keystone Pipeline (Keystone) and is actively responding to an oil release at Milepost 171 (MP-171) of Keystone, near Fort Ransom, North Dakota. Aligned with incident protocols, South Bow initiated a shutdown [Read more]
Image by Alabady via iStock Iraq’s electricity grid lost around 15% of its generation capacity after gas supplies from neighboring Iran were more than halved on Tuesday, highlighting the country’s vulnerability to energy shocks despite its oil wealth. OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX!
May 29, 2025 Chart of the Day EOA: Libya’s Crude Exports are at the Highest Level Since 2011 but Face a Threat of Halting Bloomberg: Libya’s State Oil Company Faces Shutdown Threat After Gunmen Storm HQ Subscribe now Summary Libya’s oil production has risen as new fields come online. Read more
AI in oil and gas is propelling the industry to new heights. The oil and gas industry has always been driven by innovation, and today, artificial intelligence (AI) is pushing the sector into a new era of efficiency, precision, and profitability. Digital twinsvirtual models of physical assetsare also transforming maintenance strategies.
REUTER BY ROWENA EDWARDS AND AHMED RASHEED, EDITING BY GERMÁN & CO March 31 (Reuters) - An international arbitration ruling on March 23 prompted the shutdown of Iraq's northern crude oil exports through Turkey and sent oil prices back.
June 16, 2025 Edition At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. Oil prices fall more than $1 barrel on reports Iran seeks truce with Israel Summary : Oil prices fell 1.3% Iran’s gas field saw partial shutdown but Strait of Hormuz flows remained uninterrupted.
The Type 93AX addresses this challenge by preventing oil ingress from the compressor bearing chamber, thereby minimising risks and supporting continuous, reliable operation. In standard operation, it provides non-contacting operation for positive oil ingress mitigation.
The shutdown is projected to cut carbon dioxide emissions by 240,000 tonnes per year, the equivalent of removing 250,000 vehicles from circulation. One of the project's most significant achievements is the shutdown of approximately 7,000 private diesel generators throughout the region. million tonnes of carbon dioxide emissions.
government on Canadian crude also pressured the spread as Midwest refiners were seeking WTI-Midland crude to Cushing to replace Canadian light sweet oil, said Energy Aspects analyst Jeremy Irwin. Net input of crude oil to refiners on average over 4 weeks to the last week was 15.5 A 10% tariff by the U.S. million, 4.2%
June 23, 2025 Edition At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. How oil prices are faring after U.S. Read more US oil rig count down by 1, says Baker Hughes Summary : For the week ended June 20, the total U.S. Read more Iran has an oil card to play.
The past several years have been challenging for Colorado oil and natural gas companies who are working to comply with stiff new regulations and surging demand following pandemic shutdowns, but the fundamentals of the Denver-Julesburg Basin remain strong. When has the DJ been uneconomic?”
Immediate inspection and shutdown may be necessary to prevent catastrophic failure. Immediate inspection and shutdown may be necessary to prevent catastrophic failure. Consider emergency shutdown to prevent potential damage or safety hazards.n3. Please investigate urgently. Please investigate urgently.
The contract covers the provision of Offshore Shutdown Support Services for the Triton floating production, storage and offloading (FPSO) vessel, located approximately 120 miles east of Aberdeen in the North Sea. Please sign in or register for free.
How the development, validation, and large-scale deployment of online solids management systems is saving operators money by releasing flowback equipment sooner, minimizing equipment damage due to solids carry-over, and reducing the need for shutdowns and confined space entry cleanout operations.
Every year billions of barrels of Produced Water (PW) are generated from oil and gas production around the world. As fields age, they generate higher water to oil ratios. In some mature fields, 10 barrels of water are generated for every barrel of oil produced.
Moreno: On August 23, 2011, the Environmental Protection Agency (EPA) published in the Federal Register a proposed rule that significantly expands the applicable air emissions standards for the Oil and Natural Gas Sector. See 76 Fed. 52738 (Aug. The public comments period for the proposal ends on October 24, 2011.
Let see some mostly used acronyms in oil and gas drilling rig operational game plan and daily drilling report. These acronyms minimize drilling report size and make it easy to read and understand. Without these abbreviation drilling report will look massive text contents and reader will feel boring.
Two-Phase and Three-Phase Separators: These vessels use gravity and often internal baffling to separate gas from liquids (two-phase) or gas from oil and water (three-phase). These include: Slug Catchers: Large vessels designed to handle intermittent slugs of liquids, often found at the inlet of processing plants.
Coupled with the recent decline in oil and gas prices, many operators are left scrambling in an attempt to navigate unprecedented circumstances. With shutdowns and stay-at-home orders in place and regulatory deadlines looming, Louisiana operators are looking for guidance from regulators on how to proceed.
The cost of cleaning a heat exchanger is small compared to the cost of lost production should a heat exchanger require an unscheduled shutdown. Keep the carrying bar and guiding bar clean with paraffin oil. Regular maintenance ensures equipment is in working condition and helps prevent emergency repairs.
The unique self-learning capability enables continuous adaptation to new data, maintaining high accuracy across different operating scenarios, even after major process changes or shutdowns.
These systems incorporate various safety mechanisms, including pressure relief valves, flame arrestors, and emergency shutdown systems. Safety Mechanisms Given the nature of the hydrocarbons handled by VRUs, safety is a paramount concern. Proper maintenance and inspection of these safety mechanisms is vital.
In the world of oil and gas, there are a lot of companies with debt maturities coming due in 2020 or 2021 ( see this article from the Wall Street Journal discussing the $120 billion debt wall these companies will face through 2023), and oil prices have been below the break-even point for many drilling sites.
part 63, Subpart HH, “NESHAP (National Emission Standards for Hazardous Air Pollutants) for Source Categories from Oil and Natural Gas Production Facilities” to include the regulation of area sources. Subpart HH has historically regulated various emissions points for major sources of air toxics in the oil and natural gas production industry.
In the world of oil and gas, there are a lot of companies with debt maturities coming due in 2020 or 2021 ( see this article from the Wall Street Journal discussing the $120 billion debt wall these companies will face through 2023), and oil prices have been below the break-even point for many drilling sites.
Amidst historically low oil prices and economic shutdowns, fossil fuel companies continue to defend against lawsuits brought by state and local governments claiming climate-change related damages. 19-1330), and the First Circuit is likewise reviewing the remand of Rhode Island’s climate change lawsuit back to state court (Docket No.
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.
The drop “stemmed mainly from the shutdown of the hydrocracker (HCU), hydrogen production unit, [57,000 b/d] CDU 3 and ancillary facilities for periodic maintenance,” Bazan says. This was largely due to maintenance work at Bazan where overall output was down 23% quarter-on-quarter to 154,400 b/d, or 78% of capacity.
TC Energy oil spill PR oil discharge 12-9-22 (Photo: U.S. An emergency shutdown and response was initiated at about 9 p.m. 21: October 31, 2019: TransCanadas (TC Energy) Keystone pipeline leaked at least 380,000 gallons of tarsands oil and toxic diluents that affected wetlands in northeastern North Dakota. 30 spill. #21:
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