(WO) — As a result of the order issued by the United States Court of Appeals for the Fifth Circuit on Nov. 14, 2023, the Bureau of Ocean Energy Management (BOEM) has scheduled Lease Sale 261 for Dec. 20, 2023. The Gulf of Mexico oil and gas lease sale was originally scheduled for Sept. 27, 2023, and later scheduled for Nov. 8, 2023, in resp...
(Bloomberg) — Drillers in the U.S. shale patch are again trying to rebound from slumping activity, this time expanding the oil rig count by the widest margin in nine months. The number of U.S. rigs drilling for oil rose by 6 to 500, the biggest weekly jump since late February, according to data released by Baker Hughes Co. on Friday. The bo...
(Bloomberg) – Global oil markets won’t be as tight as expected this quarter, as upward revisions to demand are outpaced by upgrades to supplies, the International Energy Agency said. The IEA boosted forecasts for world fuel consumption this year on surprising strength in China, and still anticipates a supply shortfall during the fourth qu...
(Bloomberg) – Oil production from the Permian basin will expand in November and December, marking the region’s longest run of monthly gains in two years. The world’s most productive shale patch is expected to pump a record 5.98 MMbpd in December. In total, U.S. crude production from the seven biggest shale regions will total 9.65 MMpd n...
(Bloomberg) – Nigeria’s government plans to cancel most of the permits granted to marginal-oil-field operators in 2021 that remain non-operational, Minister of State for Petroleum Heineken Lokpobiri said. Only three of about 100 licenses granted in that year are operational, Lokpobiri said at the Nigerian Economic Summit in the capital, A...
(Bloomberg) – Oil is here to stay as U.S. majors strike blockbuster deals while Saudi policies are helping stabilize global crude markets, the kingdom’s energy minister said at the annual investment forum in Riyadh. Energy Minister Prince Abdulaziz bin Salman “It’s working,” Energy Minister Prince Abdulaziz bin Salman said of Saudi A...
High performance solutions deliver longer maintenance-free operations The hidden dangers of corrosion under insulation (CUI) span the oil and gas industry from upstream operations to midstream infrastructure to downstream applications, including the production of liquified natural gas (LNG). Many LNG assets face an elevated risk for corrosion...
(WO) – TGS can now provide access to derivative standardized well data from roughly 300 wells in Trinidad and Tobago onshore and offshore basins. TGS well packages are interpretation-ready and include products such as standardized digital logs (LAS, LAS+, Mud LAS, Lith LAS), validated well headers, quality-controlled directional surveys and other...
(WO) – The North Sea Transition Authority (NSTA) is expected to take on the role of offshore hydrogen transport and storage regulator following the conclusion of a consultation on the proposal. The move is intended to support the industry by enabling pioneering projects to obtain the necessary licenses and consents and move quickly into ope...
(WO) – Carbon Catalyst Limited (CCL) and Perenco UK (PUK) were awarded a carbon storage license by the North Sea Transition Authority (NSTA) to progress the Poseidon carbon capture and storage (CCS) project in the Southern North Sea sector of the UK Continental Shelf. Poseidon envisions the permanent geological storage of approximately one...