Shale Oil & Gas

Rystad Says Oil Demand is Peaking. Predicts $60 a Barrel by 2027

Global crude oil prices could drop to about $60 per barrel by 2027 as demand growth slows, say oil analysts at Rystad Energy, chopping a third off next year's peak price as demand tumbles.Their outlook is a reassuring message amid recent Wall Street analysts predicting up to $150 per barrel in the next two years.
Exxon Secures Lead in top US Oilfield with $60B Buy of Shale Rival Pioneer

Exxon Mobil agreed to buy U.S. rival Pioneer Natural Resources in an all-stock deal valued at $59.5 billion that would make it the biggest producer in the largest U.S. oilfield and secure a decade of low-cost production.The deal, valued at $253 a share, combines the largest U.S. oil…
Equinor Increases Ownership in Linnorm Discovery

Equinor will acquire Shell’s equity in and operatorship of the Linnorm discovery in the Norwegian Sea. Under this agreement, Equinor will acquire a 30% interest in the PL 255 covering the Linnorm discovery, conditional upon taking over the operatorship from A/S Norske Shell. The deal…
Tyra II Production Successfully Restarted

The Tyra Redevelopment Project (Tyra II) has restarted production. At plateau, the Tyra hub will produce 5.7 million cubic meters of gas and 22,000 barrels of condensate per day.TotalEnergies operates the Tyra field on behalf of Danish Underground Consortium, a partnership between TotalEnergies (43.2%)…
Exxon Mobil Continues to Ramp Up LNG Portfolio

Exxon Mobil is ahead of schedule with its plan to double the size of its liquefied natural gas (LNG) portfolio to 40 million tons per annum (mtpa) by 2030 and will focus on selling its own gas rather than trading that of third parties, said Peter Clarke, Exxon Mobil SVP for global…

Latest news

Exploration

Norway Oil Companies Slash Investment Plans

Norwegian oil and gas investment, a key economic driver, is expected to decline sharply in 2021 after rising less than previously anticipated this year, an industry survey by the national statistics agency (SSB) showed on Thursday.The biggest drop will come in the exploration for new reserves and in spending on development plans, while ongoing oilfield construction work continues largely as expected…

Drilling

Equinor Finds New Oil Near North Sea Fram Field

Equinor and partner Wellesley report discovering oil in the Troll and Fram area in exploration wells 35/10-7 S and 35/10-7 A in the Toppand prospect. Preliminary calculations of the expected size indicate between 3.3 and 5.2 million standard cubic meters of recoverable oil equivalent, or around 21–33 million barrels of recoverable oil equivalent.“Our exploration activity is central for our ambitions at the Norwegian continental shelf.

Production

White House Welcomes OPEC+ Decision to Stick to Planned Output Increase

The White House on Tuesday welcomed a decision by top oil producers to stick with their plans to raise crude production and touted "close" coordination with Saudi Arabia and the United Arab Emirates.Earlier on Tuesday, a group of producers comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia stuck to a planned increase of 400,000 barrels per day for February.The decision not to hike output even more helped lift oil prices further.

Rystad Says Oil Demand is Peaking. Predicts $60 a Barrel by 2027

Exxon Secures Lead in top US Oilfield with $60B Buy of Shale Rival Pioneer

Equinor Increases Ownership in Linnorm Discovery

Tyra II Production Successfully Restarted

Exxon Mobil Continues to Ramp Up LNG Portfolio

Exxon in Advanced Talks for $60B Acquisition of Pioneer - Sources

US Energy Firm Payouts to Oil Investors Top Exploration Spending for First Time

MODEC’s FPSO Anita Garibaldi MV33 Achieves First Oil in Brazil

Latest news

OMV Petrom Makes Largest Crude Oil Discovery in Decades

Neptune Energy Starts Production from Gas Well in Germany

Chevron to Buy PDC Energy in $7.6 bln Deal

SLB Launches Cement-free System to Cut CO2 Footprint of Well Construction

Guyana's Oil Exports Double, with Europe Taking Half of Cargoes

Price is the Elephant in Australia's LNG, Domestic Gas Conundrum

Wintershall Dea Looks to Domestic Production as Russia has 'Destroyed' Trust

Production from Nigeria's Ikike Field to Start

Oil Supply Crunch is Coming, ConocoPhillips CEO Says

Russia's Medvedev Says Oil Could Hit Up to $400 a Barrel if Japanese Proposal Adopted

Wasted Gas: As Global Supplies Tighten, Here’s 210 bcm of Natural Gas for the Taking – IEA Report

U.S. Natgas up 2% on Higher Demand, Soaring Global Prices

Exploration

Norway Oil Companies Slash Investment Plans

Nigeria Launches Licensing Round for Marginal Oilfields

Petronas Farms Out Part of Suriname Offshore Block to Exxon

Equinor Exploration Manager Steps Down to Take New Role

Drilling

Equinor Finds New Oil Near North Sea Fram Field

Williams Inks Deal for Whale Deepwater Transport Services

Buyers Reportedly Line-up for a Crack at Seadrill

WTI-Brent Spread Narrows as Oil Market Tightens

Production

White House Welcomes OPEC+ Decision to Stick to Planned Output Increase

Asian Countries Looking to Release Oil Reserves after U.S. Request

ConocoPhillips Swings to 3Q Profit

Investors on Board as U.S. Oil Majors Dismiss Wind and Solar Projects

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