Production

Additional challenges with the gas handling system on the Liza Destiny FPSO has resulted in ExxonMobil taking a decision to limit oil production in order to curb flaring. Despite the challenges, the company says it is continuing to safely...

The country with the largest oil reserves in the world could soon be producing none of it. Venezuela—one of the world’s earliest and (at one time) largest oil producers, as well as a founding member of OPEC—could soon be producing close to...

(Bloomberg) --From Baghdad and Algiers to Caracas, many of the world’s oil capitals are experiencing a summer of discontent. It could be a glimpse of their future. Iraq has seen fatal protests as its electricity grid buckles amid searing heat,...

New oil producer Guyana is expected to lift 2 million barrels more of Liza crude this year, representing the country’s share of 5 million barrels; 3 million of which have already been exported. Oil production got underway in the South...

The offloading of Guyana’s 3rd million-barrel oil cargo from the Liza Destiny FPSO to Norwegian flag-carrier SKS SPEY concluded on Sunday, marking the final lift under the current contract the country has with Shell Western Supply and Trading Limited. Brent...

Suriname state oil company Staatsolie would like to see the country’s deepwater discoveries move to development in the shortest time possible, similar to the Liza discovery in Guyana which operator ExxonMobil was able to move to first oil in...

Norwegian flag-carrier SKS SPEY will lift the third million-barrel oil cargo for Guyana this weekend. OilNOW understands the vessel is in a waiting area ahead of lifting the crude from the Liza Destiny FPSO. Guyana lifted its first million-barrel entitlement...

(Reuters) - Oil prices fell on Monday on concerns about oversupply as OPEC and its allies, together known as OPEC+, are due to pull back from production cuts in August while an increase in COVID-19 cases worldwide raised fears...

Guyana will lift its third million-barrel oil cargo next week just as the upcoming partial return of curtailed OPEC+ oil production from August is set to create a new four-month supply glut of around 170 million barrels. Rystad Energy said...

China’s state oil company CNOOC has began production at the Luda 21-2/16-3 regional development, located Liaodong Bay of Bohai Sea, about 39 kilometers north of Luda 10-1 oilfield and 90 kilometers northwest of Suizhong 36-1 onshore terminal. CNOOC said the average...