Production

News

Venezuelan oil production could further collapse on new U.S. sanctions

OilNOW - February 27, 2018

(Oil Price) If the U.S. expands sanctions on Venezuela to include the oil industry and restricts U.S. exports of oil products that are crucial for diluting Venezuela’s extra-heavy oil, oil production in the country sitting on the world’s largest...

News

Court hands Trump another defeat in bid to block Obama-era oil and gas methane emissions rule

OilNOW - February 26, 2018

A U.S. District Court judge has blocked the Interior Department from suspending an Obama-era rule meant to prevent planet-warming methane from escaping during oil and natural gas operations. According to a CNBC report, the ruling marks the latest setback for...

News

Surge in global oil supply may overtake demand in 2018: IEA

OilNOW - February 13, 2018

(Reuters) - The rise in global oil production, led by the United States, is likely to outpace growth in demand this year, the International Energy Agency said on Tuesday. The Paris-based IEA raised its forecast for oil demand growth in...

News

BP begins production from Egypt’s Atoll gas field

OilNOW - February 13, 2018

BP on Monday announced the start of gas production from the Atoll Phase One project, offshore Egypt. The project, in the North Damietta concession in the East Nile Delta, was delivered seven months ahead of schedule and 33% below...

News

ExxonMobil adds 2.7 Bbbl to reserves, replaces 183% of 2017 production

OilNOW - February 10, 2018

Exxon Mobil Corporation has added 2.7 Bboe of proved oil and gas reserves in 2017, replacing 183% of production. ExxonMobil's proved reserves totaled 21.2 Bboe at year-end 2017. Liquids represented 57% of the reserves, up from 53% in 2016....

News

Alberta’s oil industry facing perfect storm of awful

OilNOW - February 1, 2018

(Hart Energy) A funk has settled over the Alberta oil industry as low prices, pipeline system constraints, storage shortfalls, and limited rail shipping have combined in a perfect storm that is costing producers millions of dollars every day. While the...

News

ExxonMobil to ramp up Permian production to 600,000 barrels

OilNOW - January 30, 2018

ExxonMobil today announced that it plans to triple total daily production to more than 600,000 oil-equivalent barrels by 2025 from its operations in the Permian Basin in West Texas and New Mexico. Tight oil production from the Delaware and Midland...

Exploration

‘We want to look back 10 years from now and say we helped Guyana’ – Exxon Country Manager

OilNOW - December 4, 2017

ExxonMobil Guyana Country Manager, Rod Henson says the company would like to look back 10 years from now and see that its presence would have served to help the South American country of 750,000 people. Guyana will enter the league...

News

Why is Exxon drilling 17 wells for Liza Phase 1?

OilNOW - November 29, 2017

ExxonMobil along with its joint venture partners Hess and CNOOC Nexen will be drilling 17 wells in preparation for the Liza Phase 1 development project located 120 miles offshore the South American country of Guyana. But why is the...

News

ExxonMobil begins oil production at Hebron Field

OilNOW - November 28, 2017

Exxon Mobil Corporation (NYSE:XOM) today announced that the Hebron project started production safely and ahead of schedule. At its peak, the project will produce up to 150,000 barrels of oil per day. Discovered in 1980, the Hebron field is estimated to...

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