(Bloomberg) — U.S. oil production will grow even more than the government previously expected as a scorching price rally drives producers to boost drilling. Oil output will average 12.6 million barrels a day in 2023, an increase from its previous estimate of , according to Energy Information Administration data. The current annual a...
(Bloomberg) — Canadian light oil producer Crescent Point Energy Corp. is looking to sell a package of lands in Alberta and Saskatchewan that was producing 11,154 barrels of oil equivalent per day as of the fourth quarter of 2021. Crescent Point hired National Bank Financial to market the lands, according to documents obtained by Bloomberg News...
(Bloomberg) — Oil executives tempted by the prospect of the highest crude prices in seven years are showing all the signs of abandoning pledges to hold the line on drilling budgets, Citigroup Inc. said. U.S. shale explorers are poised to boost spending by almost 40% this year, based on comments and plans revealed during recent earnings present...
Tenaris plans to reactive its heat treatment and finishing lines at its Koppel, Penn., plant to streamline the flow of seamless product at its facilities in the northeast. The heat treatment line is part of the manufacturing process which gives pipe their required metallurgical properties for enhanced performance in oil and gas wells. The line,...
The 2022 Offshore Technology Conference announced the 2022 Distinguished Achievement Award recipients. The conference recognized Drew Michel for individual achievement, Shell’s Appomattox Project for institutional achievement, and Roland Moreau for the Heritage Award. Recipients will be honored during the OTC Distinguished Achievement Award...
(Sparrows), the engineering and maintenance services specialist for the international energy and industrial sectors, announces a three-year contract award from Serica Energy for crane operations and maintenance services on North S...
A review of the oil and gas industry’s progress against the terms of the North Sea Transition Deal (NSTD), conducted by OGUK, has shown strong progress in the first ten months since the ground-breaking deal was signed, with several key milestones already reached. The NSTD, agreed at the end of March 2021, set out an ambitious plan for how the...
Supplies of Russian gas to Europe via Ukraine have already fallen—and been replaced by LNG imports—to such a degree that shutting off the remaining gas that is still flowing through Ukraine would have a relatively limited additional impact on European supply, according to a new report by (NYSE: INFO), a world leader in critical informatio...
(Bloomberg) — At least two crew members on board an oil production vessel off Nigeria’s coast died following a blast that wrecked the ship last week. Their bodies were recovered from the deck of the Trinity Spirit, Shebah Exploration & Production Co., which has the vessel on lease, said in a statement on Monday. Another “was reported s...
WASHINGTON – Monday, the American Petroleum Institute (API), Delegation of the European Union to the United States and LNG Allies hosted a roundtable with European Commissioner for Energy Kadri Simson to discuss the role of LNG in bolstering the EU’s long-term energy security during the energy transition. “It was an honor to host Commissio...