(Bloomberg) – Chevron Corp’s oil production in Venezuela has reached 100,000 bpd and could rise 50% this year, Chief Executive Officer Mike Wirth said in an earnings call Friday. The U.S. oil major operates three projects in the country along with state-run Petroleos de Venezuela SA. Since U.S. President Joe Biden eased sanctions on Venez...

(Bloomberg) – Oil demand will continue to increase, helping send crude prices to $80 to $100 per bbl later this year, according to the incoming Chief Executive Officer of Pioneer Natural Resources Co. As dealmaking starts to heat up in the industry, Pioneer, one of the dominant independent explorers in the prolific Permian Basin, will have...

(WO) – With enhanced technology and new features, Kongsberg Digital is relaunching its application for vessel and fleet optimization, Vessel Performance, for offshore vessel operations. The data-driven solution now provides even more accessible onboard and onshore decision support, enabling significant cost and emission reductions in offshore ope...

(WO) – Sage Natural Resources LLC recently completed its 2022 Barnett Drilling program, successfully drilling 30 horizontal wells targeting the Barnett shale formation in North Texas. The 30-well Barnett shale drilling program totaled 96 miles drilled. The average lateral length was approximately 8,200 feet per well, with average spud to ri...

(WO) – BW Offshore Limited has signed a short-term extension for the lease and operation of the FPSO Espoir Ivoirien in order to discuss a potential purchase of the FPSO by the client. The firm period has been extended until June 1, 2023. The FPSO is operating on the Espoir field offshore the Ivory Coast. Source: www.worldoil.com A...

(WO) – Elk Range Royalties has acquired certain Eagle Ford basin mineral and royalty interests from an undisclosed private seller. The acquired assets include roughly 1,700 net royalty acres (“NRAs”) across DeWitt, Gonzales, and Karnes counties. This acquisition marks the third Eagle Ford basin deal closed this year and is the largest s...

(WO) – Suncor Energy has agreed to purchase TotalEnergies' Canadian operations through the acquisition of TotalEnergies EP Canada Ltd., which holds a 31.23% working interest in the Fort Hills oil sands mining project (Fort Hills) and a 50% working interest in the Surmont in situ asset. This will add 135,000 bpd of net bitumen production capacity...

(WO) – Neptune Energy and its partner, Spirit Energy, announced that production has commenced from the 11th well at its operated Cygnus natural gas field in the southern North Sea, unlocking much-needed additional supplies and supporting UK energy independence. The new well is expected to produce approximately 4,000 boed, enough gas to heat...

(WO) – ABB has won a large order from Sembcorp Marine Ltd to deliver the complete electrical system automation for a floating production storage and offloading (FPSO) facility for Brazilian oil and gas producer Petróleo Brasileiro S.A. (Petrobras). The P-82 FPSO will be one of the largest vessels to be deployed in the Búzios field, an ult...

(WO) – The countdown to the 26th World Energy Congress, to be held in Rotterdam from April 24-25 2024, has begun as the World Energy Council launches event registration and simultaneously releases the results of its latest Pulse Survey. Reflecting the views of more than 700 leaders of the global energy community, the survey shows that two t...