Crude oil production in the US Gulf of Mexico will continue to set records through 2020, the US Energy Information Administration (EIA) expects.The EIA said it anticipates average annual crude oil production in the US Federal Gulf of Mexico (GoM) in 2019 and in 2020 will top the 1…
China's CNOOC shut down the 150,000 barrel per day Buzzard oilfield in the British North Sea to repair pipework on the platform, a spokesman said on Friday.Buzzard plays a role in global oil pricing as it is the main contributor to the Forties crude stream…
The new discovery offshore Equatorial Guinea’s Block 1 by US-based exploration and production company Noble Energy puts the West African country on the road to reversing declining oil and gas output should the project be turned into a viable commercial venture…
Pipeline operator Enterprise Products Partners signed long-term agreements with Chevron Corp to develop Enterprise’s Sea Port Oil Terminal (SPOT) in the Gulf of Mexico.The American midstream natural gas and crude oil pipeline company said in…
U.S. Gulf of Mexico offshore crude oil production and natural gas output both remained cut by 19% on Thursday because of shutdowns forced by Tropical Storm Barry, the U.S. government said.That equals 335,000 barrels per day of crude oil and…
Nigeria has a new face at the helm of the country’s petroleum industry regulator, and already he has announced ambitious targets for the next five years. Achieving these goals will have to rely partly on how much investment can be attracted…
Saudi Aramco has awarded 34 contracts with a total value of $18 billion for engineering, procurement and construction projects at its Marjan and Berri oilfields, the company said on Tuesday.Saudi Aramco plans to boost production capacity from the two fields by 550…
The rising domestic crude oil production in the United States has created a need for more pipeline capacity, revealed the US Energy Information Administration (EIA).EIA recently launched a new liquids pipeline projects database that tracks more than 200 crude oil…
Equinor has resumed crude oil loadings from its Statfjord field in the North Sea following a spill last week, the Norwegian oil and gas company said on Monday.Production from Statfjord remains unaffected, and the offloading of crude is now taking place from an alternative buoy on the field…
U.S. President Donald Trump on Thursday called for the Organization of the Petroleum Exporting Countries (OPEC) to boost oil production to lower the price of the commodity.'Very important that OPEC increase the flow of Oil. World Markets are fragile…
Oil prices were little changed on Monday as investors shrugged off fears of a global economic slowdown and focused on the prospect of tighter supply and lower U.S. crude inventories ahead.Brent crude oil futures climbed 30 cents to $67.33 a barrel by 11:56 a…
United States will soon export more oil and liquids than Saudi Arabia, thanks to the continued rise in oil production from US shale plays and the increased oil export capacity from the Gulf Coast.According to Rystad Energy, energy research and business intelligence company…
Exxon Mobil Corp unit Exxon Mobil Cepu Limited is expected to produce 216,000 barrels per day of crude oil in 2019, making it Indonesia's biggest oil producer, the country's upstream oil and gas regulator (SKKMigas) said.In second place Chevron…
U.S. crude oil output hit an all-time high of more than 11.5 million barrels per day in October, according to government data released on Monday.U.S. crude production rose 79,000 bpd in October to 11.537 million bpd, the U.S. Energy Information Administration said in a monthly report…
Oil prices fell on Thursday after rebounding 8 percent in the previous session, as worries over a glut in crude supply and concerns over a faltering global economy pressured prices.Brent crude oil dropped $1.67 a barrel, or 3.1 percent, to a low of $52…
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