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Tag: oil production


Energy, Industry Focus Areas

Oil Climbs With US Demand Bump Driving Global Rebound Optimism

April 28, 2021

Via: Transport Topics

Oil advanced to the highest intraday level in more than a month as a combination of declining U.S. petroleum product supplies and signs of stronger demand buttressed expectations for a revival in global consumption. Futures jumped as much as 2.2% […]


Energy, Industry Focus Areas, Regulations

U.S. Needs to Better Monitor Oil, Gas Pipelines in Gulf of Mexico, Report Says

April 19, 2021

Via: The Wall Street Journal

WASHINGTON—Federal officials aren’t adequately monitoring the integrity of 8,600 miles of active oil-and-gas pipelines on the Gulf of Mexico’s seafloor, and for decades have allowed the industry to abandon old pipelines with little oversight, a new report to Congress shows. […]


Energy, Industry Focus Areas, News

US Oil Majors Downgraded by S&P on Climate Risk, Earnings

February 12, 2021

Via: Transport Topics

Exxon Mobil Corp., Chevron Corp. and ConocoPhillips had their credit ratings lowered after S&P Global Ratings followed through on its recent warning and revised the industry’s risk profile due to climate change and weak earnings. The oil and gas producers’ […]


Energy, Industry Focus Areas

Shell Hits Its Own Peak Oil, Plans to Reduce Output

February 11, 2021

Via: The Wall Street Journal

LONDON— Royal Dutch Shell PLC said it would start reducing oil production, calling an end to a decades-old strategy centered on pumping more hydrocarbons as it and other energy giants seek to capitalize on a shift to low-carbon power. The […]


Energy, Industry Focus Areas

Exxon Announces New Emissions Targets After Investor Criticism

December 14, 2020

Via: Transport Topics

ExxonMobil Corp. announced several new emissions targets and said it would begin publishing pollution information related to customers’ use of its products for the first time, just days after activist investors criticized the oil giant for its environmental record. Exxon […]


Energy, Industry Focus Areas

Oil Slips From Nine-Month High With Markets in Risk-Off Mode

December 7, 2020

Via: Transport Topics

Oil fell from its strongest close in nine months, hampered by weaker risk sentiment in global markets. Crude futures were down 0.9% in New York, with the dollar rising and European equities and U.S. stock futures declining. Oil rallied last […]


Energy, Industry Focus Areas

OPEC+ Meets to Seek Compromise on Plan to Delay Output Hike

November 30, 2020

Via: Transport Topics

OPEC+ began two days of potentially complicated talks to hash out the size of its oil-production cuts next year, with the group’s president calling for caution in a fragile market. The coalition that pumps half the world’s crude is debating […]


Energy, Industry Focus Areas

US Sees Oil Production Continuing to Grow Despite Lower Prices

December 12, 2018

Via: Industry Week

The U.S. government left its forecast for domestic crude production unchanged for 2019 even with prices averaging almost $11 a barrel lower than its previous estimate. Oil producers will pump an average 12.06 million barrels a day next year, up […]


Energy, Industry Focus Areas, Process, Production

Oil, gas production rises in Oklahoma, workforce declines

June 25, 2018

Via: Penn Energy

OKLAHOMA CITY (AP) — An economist at the Oklahoma City branch of the Federal Reserve Bank of Kansas City says oil and gas production is increasing but with fewer employees. Chad Wilkerson writes in the Oklahoma Economist that increased production […]


Energy, Industry Focus Areas, Process, Production

U.S. monthly crude oil production exceeds 10 million barrels per day, highest since 1970

February 2, 2018

Via: Penn Energy

U.S. crude oil production reached 10.038 million barrels per day (b/d) in November 2017, according to EIA’s latest Petroleum Supply Monthly. November’s production is the first time since 1970 that monthly U.S. production levels surpassed 10 million b/d and the […]


Energy, Industry Focus Areas

Oil Slides as US Shale Output Seen Rising to Record-High

August 16, 2017

Via: Industry Week

Oil traded at a three-week low after a forecast on U.S. shale growth added to mounting worries that the rebalancing process is stalling. Futures fell 0.8% in New York after 2.5% decline on Augus4 14, the biggest drop in more […]


Energy, Industry Focus Areas

Big oil, small U.S. towns see new reward in old production technique

June 5, 2017

Via: Reuters

Amid the frenetic activity of American shale oilfields recovering from a two-year recession sit a handful of oil towns that seemed impervious as many producers went into bankruptcy and the economy around them sank. Occidental Petroleum Corp and a few […]


Process, Production

Texas oil and gas production statistics for February 2017

April 27, 2017

Via: Penn Energy

Production for February 2017 as reported to the Railroad Commission of Texas (Commission) is 70,332,051 barrels of crude oil and 527,710,713 mcf (thousand cubic feet) of total gas from oil and gas wells. These preliminary figures are based on production […]


Energy, Industry Focus Areas

Oil and Gas: North Dakota oil production drops below 1M barrels daily

October 14, 2016

Via: Penn Energy

North Dakota’s oil production in August dropped below 1 million barrels per day. The Department of Mineral Resources says the state produced an average of 981,039 barrels of oil daily in August, down from 1.029 million barrels of oil daily […]


Energy, Industry Focus Areas

EIA: US oil, gas output fell slightly in July

October 4, 2016

Via: Penn Energy

US crude oil production during July fell just 0.2% vs. the June average to 8.685 million b/d, according to the US Energy Information Administration’s Monthly Crude Oil and Natural Gas Production Report. The July US average was down 7.8% year-over-year. […]


Energy, Industry Focus Areas

China’s Oil Production Drops Spell Troubling News For Beijing

August 29, 2016

Via: Forbes

From searching the globe in search of oil deals with intense geopolitical ramifications like Sudan, Niger, Iraq and Venezuela, to cutting a controversial multi-billion dollar oil deal in Canada’s oil sands play, China has become all things to all people […]


Energy, Industry Focus Areas

Recent U.S. imports of oil tend to be heavier than domestic production

May 9, 2016

Via: Penn Energy

In 2015, more than 70% of the crude oil produced in the Lower 48 states was light oil with an API gravity above 35 degrees. At the same time, 90% of imported crude oil was heavier, with a gravity below […]