After nearly a century, oil output in the U.S. Gulf of Mexico is heading towards its peak with new platforms providing a last hurrah as the region becomes a hot spot for burying greenhouse gases.Some companies, including Exxon Mobil Corp, have been dumping assets in the Gulf, the nation's primary offshore source of oil, and are instead targeting capturing and storing carbon dioxide and other greenhouse gases underground…
Britain's first oil and gas exploration licensing round since 2019 attracted 115 bids, up from 104 in the last round, with the licences likely to be awarded from the second quarter, the North Sea Transition Authority (NSTA) said on Tuesday. Britain's…
Chinese oil company CNOOC Limited said Monday that its Bozhong- Kenli oil fields power from shore project had successfully started operation. The project will power 39 offshore platforms in Bohai Bay, China.The main facilities of the project…
Chinese offshore oil company CNOOC Limited has started oil production from its Kenli 6-1 Oilfield 10-1 North Block Development Project, offshore China.The development project locates in the south of Bohai Sea, with an average water depth of about 19 meters…
Liza Unity is the second floating production, storage, and offloading unit of several expected to be deployed at ExxonMobil's Stabroek block off Guyana in the years to come.The FPSO, delivered by the Dutch FPSO specialist SBM Offshore, started producing oil in February…
Oil demand could peak as soon as 2025, as the energy transition continues to gain steam and as electric vehicle adoption increases, McKinsey & Company said in a new report.Christer Tryggestad, a Senior Partner at McKinsey, says: “In the past few years…
In July 2020, just a few months after the COVID-19 pandemic started to spiral out of control, Shell CEO Ben van Beurden declared world oil demand may have passed its peak - all but condemning his company's core business to eventual obscurity…
China's biggest offshore oil and gas producer, CNOOC Ltd, on Tuesday set its 2022 production target at 600 million-610 million barrels of oil equivalent (boe), 10% above last year's goal.The company targeted output of 545 million-555 million boe in 2021…
Europe's Big Oil companies are planning to spend their windfall from high energy prices on becoming Small Oil.Surging oil and gas prices in 2021 delivered billions of dollars in profits to top oil companies, in stark contrast to the previous…
China's oil consumption is expected to keep growing for a decade on robust chemical demand, reaching a peak of about 780 million tonnes per year by 2030, a research institute affiliated with China National Petroleum Corp (CNPC) said on Sunday…
Global oil demand is expected to peak before 2030, earlier than previously projected, TotalEnergies forecast on Monday.The French oil major - which had previously forecast the peak happening around 2030, rather than before - said its business…
Chinese offshore oil producer CNOOC said Friday it had begun producing oil from its Bozhong 19-4 project in the south of the Bohai Sea. Located in an average water depth of about 21 meters, the project uses the existing processing facilities of Bozhong 25-1 oilfield…
Chinese offshore oil and gas company CNOOC said Thursday that a project to power Bohai Bay offshore fields from shore has kicked off operation successfully.'This onshore power project is located in the mid-western Bohai Bay, containing two parts…
Chinese national offshore oil and gas company CNOOC has started production from its Bozhong 26-3 oil field expansion project in the south of Bohai Sea, The field is located in an area with an average water depth of around 21 meters. 'In addition to fully utilizing the existing processing facilities…
Australian oil and gas company Santos has started oil production from the Van Gogh Phase 2 Infill Development, offshore W. Australia, hitting a production record.Santos had announced a Final Investment Decision (FID) on the Van Gogh Infill Development Phase 2 Project in March 2020…
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