Production Commences at Huizhou 26-6 Oilfield
Huizhou 26-6 oilfield production started China National Offshore Oil Corporation (CNOOC) has commenced production at the Huizhou 26-6 oilfield development project. The project, entirely operated and owned by CNOOC, is located in the Pearl River Mouth Basin at an average water depth of approximately 110m. It represents CNOOC’s first deep buried-hill reservoir development project in the South […]
Will It Reduce Carbon Emissions or Limit Production? • Carbon Credits
Will It Cut Carbon or Curb Production? • Carbon Credits Canada’s upcoming emissions cap on the oil and gas sector aims to cut greenhouse gas emissions by 37% by 2030 from 2022 levels. However, the energy industry and provinces like Alberta are strongly opposing it. The plan, unveiled Monday, introduces a cap-and-trade system designed to […]
UAE Launches Annual Oil and Gas Summit, Promises to Boost Production Despite Declining Prices
The UAE opens its annual oil-and-gas summit, pledging to increase output even as prices have fallen ABU DHABI, United Arab Emirates (AP) — The United Arab Emirates opened its annual oil-and-gas summit on Monday with pledges to increase energy output even as global prices have fallen and world politics remain uncertain ahead of the U.S. […]
Oil Price Forecast: US Increases Crude Production While OPEC Considers Boosting Supply
Oil price outlook: US pumps more crude as OPEC eyes more supply Exxon Mobil Corp. and Chevron Corp. capped Big Oil earnings season by revealing blockbuster increases in fossil fuel production — just as OPEC and its allies are preparing to increase the supply of crude into the global market. The US oil majors’ increases […]
Northern Oil and Gas Reports Higher Oil Production for Q3, According to Investing.com
Northern Oil and Gas reports increased oil production in Q3 By Investing.com MINNEAPOLIS – Northern Oil and Gas, Inc. (NYSE: NOG) has announced its operational update for the third quarter of 2024, highlighting increased oil production and continued share repurchases. Despite fewer wells being turned-in-line (TIL), the company reported a record oil volume, marking a […]
BP Lowers Oil Production Goals in Strategic Shift, Sources Reveal
bp drops oil output target in strategy reset, sources say BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm’s energy transition strategy to regain investor confidence, three sources with knowledge of the matter said. When unveiled in 2020, BP’s strategy was the sector’s […]
Low Prices Pressure U.S. Oil and Gas Production
Low Prices Squeeze U.S. Oil and Gas Output By John Kemp, energy analyst U.S. oil production growth continues to slow in response to the fall in prices, as the initial shock from Russia’s invasion of Ukraine and the sanctions imposed in response more than two years ago fades. Crude and condensates output from the Lower […]
Brookside Energy’s FMDP Wells Transition to Commercial Production; Oil and Gas Sales Underway
Brookside Energy FMDP wells move into commercial production phase; oil and gas sales in train About Susanna Nelson Susanna is a journalist and editor with nearly two decades of experience writing about a broad range of topics including infrastructure, health, building and construction, economics and the arts. She has a natural curiosity, which helps when […]