Production at the El-Feel field in southwestern Libya has stopped, according to people familiar with the matter, while local operators are indicating they’ll gradually halt pumping nationwide. The move to freeze all production and exports announced Monday by the eastern Libyan authorities came in response to a decision by the internationally recognized government in the...Continue Reading

Crude production grew to 1.41 MMbpd in the second quarter, compared with 1.22 MMbpd a year earlier. Daily oil production in Nigeria is expected to rise to about 2 MMbpd by the end of this year, Oritsemeyiwa Eyesan, executive vice president of the Nigerian National Petroleum Corp.’s upstream division, said last week. SourceContinue Reading

Neuron 5 uses advanced AI models and deep learning algorithms to predict maintenance needs and monitor equipment performance by interpreting data, such as pressure, temperature and vibration, received from sensors on critical equipment. SourceContinue Reading

Qatar, which is already Kuwait’s biggest supplier with an existing contract running to 2035 to supply as much as 3 MMtpa, will start shipments from the new deal in January. SourceContinue Reading

Earlier this month, state-run Nile Petroleum Corp. assumed control of PETRONAS’ oil fields and assets – effectively repossessing the Malaysian company’s investment – and announced it would seek a new partner to ensure operations continue. SourceContinue Reading

New momentum in Vaca Muerta means Argentina could export gas to Brazil as soon as next year. But instead of just importing the fuel, Petrobras would like to be involved on the production end, people familiar with the matter said. SourceContinue Reading

After pumping less crude in the years leading up to the pandemic than top counties in neighboring Texas, New Mexico’s Lea County has been rapidly gaining ground. Production there has expanded faster than in any other U.S. county, last year becoming the first to ever produce more than 1 MMbpd, according to energy research firm...Continue Reading

Equinor ASA said new seismic data is allowing for the reassessment of offshore oil and gas resources on Norway’s continental shelf, underpinning exploration and production efforts as the company targets as many as 30 wildcat wells a year through 2035. SourceContinue Reading

Demand will be high enough that failing to invest now in new oil and gas projects would be “catastrophic,” Birdsall said. Without new investment, Exxon sees oil supply falling 70% to 30 MMbpd by 2030, sending crude prices soaring and decimating the global economy. SourceContinue Reading

In 2022, Norway’s two biggest oil companies, Aker BP and Equinor, decided to move ahead with plans to spend about $19 billion to develop a string of fields in the North and Norwegian seas. The investment plans were driven by temporary Covid-era tax rules that were intended to spur petroleum investments during the pandemic. SourceContinue Reading