Production

In a group results statement for Q1 2021, BP said second quarter production will be even lower than the first quarter in both its conventional operations and newly created 'gas and low carbon' unit. This is due to a...

Analysts around the world have been crunching numbers and closely examining scenarios that provide insight into the future of oil and gas in a world that is moving towards renewable energy sources. The predictions vary, often considerably, for peak...

The Outgoing Managing Director of Suriname’s state oil company, Staatsolie Maatschappij Suriname N.V., says the country’s first 3 offshore discoveries at Block 58 are expected to produce around 1.4 billion barrels of oil equivalent resources over time. Rudolf Elias, in...

The International Energy Agency (IEA) said Tuesday that under an energy scenario needed to put the world on a path to net-zero emissions by 2050, no new oil and gas developments should be sanctioned beyond those already approved for...

Total, operator of Block 17 in Angola, together with the Angolan National Oil, Gas and Biofuels Agency, announce on Thursday the start of production from the Zinia Phase 2 short-cycle project, connected to existing Pazflor’s FPSO (Floating Production, Storage...

Even with its vast oil reserves of over 300 billion barrels, Venezuela’s output is now on course to be surpassed by new producer Guyana where oil fields are moving to development at a robust pace as the government looks...

President of Guyana, Dr. Irfaan Ali on Wednesday highlighted plans by ExxonMobil to significantly ramp up oil production activities offshore the South American country which will see production hitting the 1 million barrels per day mark by 2027. During a...

Bahamas Petroleum Company plc said Friday it will be embarking on a comprehensive program of activities that will see an increase in production and cashflow from operations in Trinidad and Tobago and Suriname. In a Notice of Extraordinary General Meeting and Circular,...

Reliance Industries Limited (RIL) and bp on Monday announced the start of production from the Satellite Cluster gas field in block KG D6 off the east coast of India. RIL and bp have been developing three deep-water gas developments in...

Updated April 25, 2021 UK-based global energy consulting group Wood Mackenzie says Guyana is in a unique position as the world’s newest major oil producer. Other oil- and gas-dependent producers are contemplating the threat posed by the energy transition to...