The crude oil production of five major international oil companies: Exxon, BP, Shell, Chevron, and Total, has fallen by 25.8% over the past 12 years. This follows an historic high in 2004, when total combined crude production reached 10.76 MMbo/d…
During the past few years, annual change in global oil demand has been running 0.8-1%/year and the International Energy Agency (IEA) forecasts it to continue in that range in 2013 – well below the previous 20-year 1.5% average annual increase seen before the global banking crisis…
Ecologix's mobile treatment systemEcologix CEO discusses frack water recycling Platts – Recycling of water used for hydraulic fracturing, or fracking, is a trend that will inevitably grow as companies realize that they cannot continue…
Prime Minister Stephen HarperCanada grants approval for Nexen, Progress grabsThe Canadian government announced on Friday that it would approve two controversial investments in local firms by foreign state-owned companies.Minister of Industry…
Light Oil Market Access Program mapPipeline expansion targets light oil markets Enbridge Inc. has received shipper support to proceed with a $6.2 billion program to expand access to markets for growing volumes of North Dakota and western Canada light oil production…
FCX specializes in copper and gold miningFreeport enters energy sector with $9B merger Phoenix-based copper and gold mining company Freeport-McMoRan (FCX) has moved to acquire subsidiary McMoRan Exploration as well as Houston-based Plains…
Photo: ExproMinorities to fill 35% of energy jobs by 2030API President and CEO Jack Gerard released a new report by IHS Global Insight showing the oil and natural gas industry is in a strong position to expand its workforce with minority employees…
With massive investment and aggressive technology development required to match world energy demand in coming decades, South America’s ‘southern cone’ will have a big role to play. Russell McCulley reports from Rio de Janeiro.Thanks in large part to Brazil’s pre-salt discoveries…
The effective development of low-permeability tight gas reservoir resources requires operational efficiency to improve production performance. Erik Schrama, Robin Naughton-Rumbo and Fred van der Bas, Shell; Josef Shaoul, Fenix Consulting Delft…
A prediction of an oil price slump in less than a decade prompts Andrew McBarnet to onder on the prevailing wind currently favouring the marine seismic business.Possibly the most provocative oil industry analysis to surface in the last few months emanates from the portals of academia…
Open markets can be a powerful ally for a world seeking to manage short-term disruptions to energy supply and meet long-term demand, BP group chief executive Bob Dudley declared at the June launch of the BP Statistical Review of World Energy…
The US oil & gas industry grew across several categories in 2011, including a 38% increase in exploration and development spending, according to new analysis from Ernst & Young. Russell McCulley reports.While total capital expenditures among…
Total spending for upstream oil & gas will hit nearly $1.3 trillion this year, led by a robust North American market, according to a new report by IHS.Driven by strong oil prices and the North American unconventional gas boom, global upstream…
The iPZIG at-bit inclination, gamma ray and imaging service has been introduced by PathFinder, a Schlumberger company, to help optimize well placement in target zones through early bed boundary detection.Developed specifically for unconventional…
Merger and acquisition activity in the oil & gas industry rebounded in 2010, up 35% over the previous year, Ernst & Young said last month. Global transaction value hit $270 billion last year, up from about $200 billion in 2009, the company said…
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