Tag Archives: World Oil

Libya’s largest oil field halted production after protesters entered the facility, according to a person with direct knowledge of the operations. The country’s National Oil Corp. had warned earlier that a full stoppage and a force majeure were likely if the north African country was unable to meet the demands …

Equinor and SOCAR (State Oil Company of Azerbaijan Republic) have signed an agreement whereby Equinor will divest all its remaining assets in Azerbaijan to SOCAR. The assets comprise a 7.27% non-operated interest in the Azeri Chirag Gunashli (ACG) oil fields in the Azerbaijan sector of the Caspian Sea, 8.71% interest …

OPEC nations Iraq, Nigeria and the Republic of Congo affirmed their commitment to the oil-producer group following the exit of Angola last week. “We reiterate our firm support for unity and cohesion at the heart of OPEC and OPEC+,” Congo’s Minister of Hydrocarbons, Bruno Jean-Richard Itoua, said in a statement. …

OPEC’s crude oil production held broadly steady last month, with modest increases across most of its African members being offset by declines elsewhere. OPEC members pumped an average of 28.08 MMbpd in October — about 50,000 bpd more than the previous month, according to a Bloomberg survey. Nigeria led the …

Equinor announced that production from the Breidablikk oil field in the North Sea started on Oct. 20, four months ahead of schedule and within budget. Tied back to the Grane platform, the subsea field holds almost 200 MMbbl of recoverable oil. The partners are Equinor (operator), Petoro, Vår Energi and …

His Highness Sheikh Tamim bin Hamad Al Thani, Amir of the State of Qatar, laid the foundational stone of the North Field expansion project, which will raise the State of Qatar’s LNG production capacity from the current 77 million tons per annum (MMtpa) to 126 MMtpa by 2026. The project …

U.S. crude oil production reached the second-highest level on record in July as output from Texas’s Permian basin soared to an all-time high. The nation’s production rose to 12.991 MMbpd, the highest since a peak of 13 MMbpd in November 2019, according to data from the Energy Information Administration. Most …

The number of oil rigs operating in the U.S. increased this week for the first time since June as crude prices soared, but drilling remains well below where it was at the beginning of the year. Some 513 drill rigs are operating in the U.S., up one from the previous …

Equinor has acquired a 25% interest in Bayou Bend CCS LLC, positioned to be one of the largest U.S. carbon capture and storage projects located along the Gulf Coast in Southeast Texas. Bayou Bend is positioned to be one of the largest CCS solutions in the U.S. for industrial emitters, …

Libya’s Sharara oil field is gradually resuming production after protesters that shut the facility earlier last week left, a person familiar with the matter said. The protesters ended their demonstration after officials released a man who’s vying to become the nation’s next central bank governor. The nearby — but smaller …