BP, Eni, ExxonMobil, Repsol, Shell, Statoil, Total and Wintershall today committed to further reduce methane emissions from the natural gas assets they operate around the world. The energy companies also agreed to encourage others across the natural gas value...
(Reuters) - As Venezuela’s dilapidated energy sector struggles to pump enough crude oil to meet the country’s OPEC output target, rival producers within the exporters group have started to plug the gap, OPEC and industry sources said.
The South American...
(Reuters) Oil prices climbed on Nov. 17 but were still heading for their first week of losses in six, weighed down by Russian hesitation for extending a global pact to cut output and curb oversupply.
Benchmark Brent crude oil was...
(BBC) International energy markets are set for "major upheaval" as the US cements its status as the world's largest oil and gas producer, while China overtakes it as the biggest oil consumer.
The predictions come from the International Energy Agency's annual...
The Niger Delta Avengers (NDA) has issued a ‘brutal and bloody’ new warning to oil and gas companies operating in Nigeria’s Niger Delta region.
“This outing will be brutish, brutal and bloody, as we…shall crush everything we meet...
(Reuters) - Oil will likely rally into 2018 with periods of volatility as an anticipated extension of OPEC-led output restrictions offsets higher U.S. production, a Reuters poll showed on Tuesday.
Analysts raised their crude price projections, the survey showed, as...
(Bloomberg) Was $50 a barrel for oil just a passing fancy?
West Texas Intermediate, the U.S. benchmark, skyrocketed above $52 a barrel at the end of September, teasing investors. But the rally didn’t last long. After hedge funds sliced their...
Oil and gas fields generally have a lifespan ranging from 15 to 30 years, from first oil to abandonment. Production can last 50 years or more for the largest deposits. Deepwater fields, however, are operated just five to ten...
As the lower-for-longer market lingers, non-OPEC oil field decline rates remain stable. With the price collapse ultimately cutting 50% of investment in producing fields and ushering in a dwindling pipeline of new projects, the expectation was for decline rates...
Oil and gas exploration and production companies, or E&P companies, use three basic formats for measuring and reporting oil and gas production:
(1) Oil production is measured and reported in barrels, or “bbl.” Production rates are typically reported in terms...
