Tag Archives: Hart Energy

The International Energy Agency (IEA) trimmed its 2020 oil demand forecast on Sept. 15, citing caution about the pace of economic recovery from the pandemic. The Paris-based IEA cut its 2020 outlook by 200,000 barrels per day (bbl/d) to 91.7 million bbl/d in its second downgrade in as many months. …

Demand for oil may never fully recover from the dramatic fall triggered by the coronavirus crisis, a report by energy giant BP has concluded. The prediction that peak oil demand may already have passed is made in the latest edition of the closely-watched Energy Report Outlook by BP. This considers …

State oil company Saudi Aramco has discovered two new oil and gas fields in the northern regions, the kingdom’s energy minister said Aug. 30, state news agency SPA reported. The energy minister Prince Abdulaziz bin Salman Al-Saud said the new Abraq al-Toloul oil field, which lies to the south east …

Brazil’s Petrobras has initiated the sale process for a group of 26 onshore and shallow-water oil fields and a small nearby refinery in the northeastern part of the country, as the state-run company forges ahead with its ambitious divestment program. In a securities filing, Petroleo Brasileiro SA, as the firm …

U.S. crude oil production from seven major shale formations is expected to decline by about 56,000 bbl/d in August to about 7.49 million bbl/d, the lowest in the two years, the U.S. Energy Information Administration (EIA) said in a monthly forecast on July 13. The biggest decline is forecast for …

Digitally connected service delivers real-time operational data and insights for improved performance Schlumberger introduced, on June 29, Performance Live digitally connected service that optimizes remote wellsite operations control while improving safety, efficiency and footprint. The service includes technology and domain expertise within a digital ecosystem, leveraging cloud-based applications and automated …

The number of U.S. oil and natural gas rigs operating fell to an all-time low for a second week in a row as energy firms slashed spending on new drilling after oil prices collapsed due to a slump in demand amid global lockdowns to stop the coronavirus pandemic. The rig …

U.S. President Donald Trump and Saudi Arabia’s King Salman spoke by phone on May 8 and “reaffirmed the strong United States-Saudi defense partnership,” the White House said, amid tensions over Saudi’s oil output. The conversation came a day after a variety of reports said the U.S. plans to withdraw two …

U.S. natural gas prices topped benchmarks in both Europe and Asia for the first time ever this week, giving buyers of U.S. LNG another reason to cancel cargoes. Front-month gas futures for June delivery at the Henry Hub benchmark in Louisiana settled over both the Japan/Korea Marker (JKM) and the …

U.S. natural gas futures jumped on May 4 to a 15-week high on forecasts for cooler weather and more heating demand over the next two weeks than previously expected and a slowing of output as drillers shut oil wells in shale basins due to the 67% collapse in crude prices …