Russia’s crude production has jumped to a new post-Soviet record, boosting the nation’s budget revenue as it prepares for talks with OPEC+ on further cooperation, according to a government official.
The Permian basin isn’t the only oil field facing pressure from pipeline bottlenecks.
Tulsa, Okla.-based ONEOK said it will invest $295 million to expand its West Texas LPG pipeline system, which provides natural gas liquids takeaway capacity for Permian Basin producers.
OPEC highlighted a range of risks brewing in the global economy that could hurt oil demand as ministers prepared for a meeting on production policy, marking a shift from last month’s outlook.
The United States likely surpassed Russia and Saudi Arabia to become the world’s largest crude oil producer earlier this year, based on preliminary estimates in EIA’s Short-Term Energy Outlook (STEO).
The price to access unexplored shale assets on the New Mexico side of the Permian basin soared to $95,001 an acre in a federal government auction, a record high for North America’s biggest oil field.
Production capacity of Zohr project, developed by the consortium of Eni, Rosneft, BP and Mubadala together with the Egyptian oil and gas companies, has been increased by more than 25% to more than 2 Bcfd.
The new leadership in Luanda is pushing ahead with wide-ranging reforms
Through the Water Infrastructure and Supply Efficiency organization, water providers are working together in Colorado to share in renewable water, well water, physical pipes, and treatment and storage assets while still maintaining independent jurisdictions.
When the Trump Administration imposed a 25% tariff on imported steel, it allowed companies to apply for exemptions if needed metals were unavailable in sufficient quality, quantity or in a reasonable time. But the process is proving slow and controversial as a deluge of applications has buried the small staff initially assigned to the task.
Saudi Arabia has denied reports that the partial privatisation of Aramco has been cancelled—but hasn’t said when it will happen
Norway’s Hoegh LNG has won a tender to supply a floating LNG import terminal for a consortium aiming to import liquefied natural gas to Australia’s east coast from 2020 in a push to boost local supply.
French oil and gas major Total confirmed that it had notified the Iranian authorities of its withdrawal from the multibillion-dollar South Pars gas project
PetroChina’s Yunnan refinery has processed 56,000 tonnes, or 408,8000 barrels, of Iranian heavy crude, the company’s official newspaper said.
Saudi Arabia has called off both the domestic and international stock listing of state oil giant Aramco, billed as the biggest such deal in history, four senior industry sources said.
The U.S. plans to release 11 MMbbl from its 660-MMbbl emergency stockpile, just as American sanctions on Iranian oil exports kick in.